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Top European banker arrested in money-laundering probe

The head of Latvia’s central bank and member of the European Central Bank (ECB) governing council has been detained as part of a corruption investigation in the country. The arrest comes four days after the US Treasury accused Latvia’s third-largest lender of “institutionalized money laundering”. According to the US officials, Latvia’s ABLV bank had made money laundering into “a pillar of ...

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Saudi Arabia says European businesses are helping Iran finance terrorism

Riyadh has accused European firms doing business in Iran of enriching the country’s Islamic Revolutionary Guard Corps (IRGC) and therefore supporting its military activities in the Middle East. “We believe that a large percentage of the Iranian economy is controlled by the Revolutionary Guards and companies associated with the guards. And we believe that any dealings with those companies only ...

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Venezuela about to launch its ‘petro’ cryptocurrency

The pre-sale of the commodity-backed digital currency ‘petro,’ which has been announced by Venezuelan President Nicolas Maduro, is expected to start on Tuesday. The country hopes this will help to replenish its depleted budget. The new cryptocurrency will be limited to 100 million units, called the mene. The petro token will be backed by Venezuelan oil, gas, gold and diamond ...

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Saudi women no longer need male permission to start business

A major step of granting women in Saudi Arabia the right start their own businesses without the approval of a male relative has been announced by the kingdom’s Ministry of Commerce and Investment. “No need for a guardian’s permission. Saudi women are free to start their own business freely,” the ministry’s spokesperson Abdul Rahman Al-Hussein tweeted. He also used a ...

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Ethereum founder warns cryptocurrencies ‘could drop to near-zero at any time’

Virtual currencies are still a newcomer class in the world of assets and could drastically fall at any time, according to the founder of blockchain network Ethereum and the digital currency of the same name, Vitalik Buterin. “Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time,” the entrepreneur tweeted. “Don’t put ...

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Wall Street's most recognizable trader says ‘I have never owned a share of stock in my life'

One of the most-photographed brokers on the floor of the New York Stock Exchange, Peter Tuchman, has said he’s risking only his clients’ money and never invests for himself. “I have never owned a share of stock in my life. I do not eat my own cooking. Funny thing about money: If I started to worry about my own profit ...

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Russian opposition underrepresented & fractured – former MP & opposition leader

Russia’s political opposition has difficulties with overcoming its own internal differences, Dmitry Gudkov, a former Russian MP and an opposition politician himself, said. Unity is what the opposition needs to succeed, he added. In a major interview with RT’s Oksana Boyko, Gudkov criticized the Russian authorities for not giving “everyone,” and particularly the anti-corruption blogger turned opposition politician, Alexey Navalny, ...

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Polish central bank secretly funds Youtube videos attacking bitcoin – report

Poland’s central bank has admitted to paying for social media campaigns that attacked cryptocurrencies, according to a popular Polish business news website. The central bank of Poland (Narodowy Bank Polski) spent 91,000 zloty ($ 27,100) on the campaign with the money going to Google, Facebook and a Polish Youtube partner network called Gamellon, Money.pl reports. The business site published a ...

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