Category: Treasury
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US Treasury Pick Bessent ‘Is a Fiscal Hawk’: Wall Street Reacts
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(Bloomberg) — Hedge fund boss Scott Besent’s nomination Friday for U.S. Treasury secretary is offering bond investors a glimpse into the incoming administration’s sweeping economic agenda after an extensive search that included several prominent contenders. Most read from Bloomberg The $28 trillion U.S. Treasury market was effectively closed for the…
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Trump chooses Bessent to be treasury secretary, Vought as budget chief, Chavez-DeRemer for Labor
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Trump also said he would nominate Russell Vought to lead the Office of Management and Budget, a position Vaught held during Trump’s first presidency. Vought was closely involved in Project 2025It is a conservative plan for Trump’s second term that he tried to distance himself from during the election campaign.…
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Trump chooses Bessent to be treasury secretary, Vought as budget chief, Chavez-DeRemer for Labor
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Trump also said he would nominate Russell Vought to lead the Office of Management and Budget, a position Vaught held during Trump’s first presidency. Vought was closely involved in Project 2025It is a conservative plan for Trump’s second term that he tried to distance himself from during the election campaign.…
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Histadrut and Treasury reach agreement on public sector pay
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The Israeli Ministry of Finance and the Histadrut trade union movement have reached a final agreement on a package of economic measures that will be part of the 2025 state budget. The most important part of the agreement concerns public sector salaries for hundreds of thousands of employees. Instead of…
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Bitcoin Treasury Adoption Surges: Meet the New MicroStrategies
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Follow Nicholas on X here Microstrategy Bitcoin treasury strategy for businesses Take off. Public companies are afraid to buy Bitcoin. It’s as if Trump’s pro-Bitcoin stance is giving companies the green light to hoard Bitcoin. yesterday LonelySeven public companies announced that they have purchased or plan to purchase bitcoin for…
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Natwest buys back £1bn in shares from Treasury as government stake drops to 11%
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NatWest has bought £1bn of its own shares from the UK Treasury, reducing the government’s stake in the FTSE 100 lender to just over 11%. This buyback, the second of its kind in 2024, saw NatWest acquire 263 million shares at 380.8p per share, a move chief executive Paul Thwaite…
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How the Treasury can get Kenya out of debt distress
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Treasury Minister John Mbadi is working under extremely precarious conditions. As he seeks to simplify Kenya’s financial landscape, he should not lose sight of the fact that any reference to the rejected 2024/2025 Finance Bill may anger Generation Z who thwarted its implementation in June this year. However, the country…
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Treasury raises Sh25bn from two November bonds tap sales
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The government raised Sh25.7 billion from its first two bond auctions this month, even as Kenya’s central bank continues to reject high-priced bids in a bid to lower interest rates. The November bond issuance consists of a 15-year note that was initially sold in April 2022, a 10-year note that…
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Treasury raises Sh25bn from two November bonds tap sales
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The government raised Sh25.7 billion from its first two bond auctions this month, even as Kenya’s central bank continues to reject high-priced bids in a bid to lower interest rates. The November bond issuance consists of a 15-year note that was initially sold in April 2022, a 10-year note that…
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Bitcoin Advocate Top Pick For Trump’s Treasury Secretary
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Billionaire hedge fund manager Scott Bescent is reportedly positioning himself as a leading candidate for Treasury Secretary under Donald Trump’s administration. Matthew Baines, director of SentinelOne and national security fellow at the Bitcoin Policy Institute, shared an article from the Financial Times on X, highlighting Bessent’s ambitions. Trump’s Treasury Secretary…
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Bitcoin Advocate Top Pick For Trump’s Treasury Secretary
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Billionaire hedge fund manager Scott Bescent is reportedly positioning himself as a leading candidate for Treasury Secretary under Donald Trump’s administration. Matthew Baines, director of SentinelOne and national security fellow at the Bitcoin Policy Institute, shared an article from the Financial Times on X, highlighting Bessent’s ambitions. Trump’s Treasury Secretary…
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Treasury accused of hiding £9.5bn ‘black hole’ in budget, says OBR chief
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The UK Treasury may have broken the law by withholding £9.5bn of spending pressure ahead of Jeremy Hunt’s final Budget in March, according to Richard Hughes, head of the Office for Budget Responsibility (OBR). Hughes suggested vital financial data relating to departmental budgets, required by the OBR under the Budget…
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Treasury accused of hiding £9.5bn ‘black hole’ in budget, says OBR chief
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The UK Treasury may have broken the law by withholding £9.5bn of spending pressure ahead of Jeremy Hunt’s final Budget in March, according to Richard Hughes, head of the Office for Budget Responsibility (OBR). Hughes suggested vital financial data relating to departmental budgets, required by the OBR under the Budget…
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Regev strikes deal with Treasury on congestion charge
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Disagreements between Transportation Minister Miri Regev and Finance Minister Bezalel Smotrich tend to arise when they come to negotiate the state budget. In the government meeting on the budget last week, they exchanged blows over the decision to raise public transportation tariffs, but in closed negotiating rooms they actually reached…
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Regev strikes deal with Treasury on congestion charge
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Disagreements between Transportation Minister Miri Regev and Finance Minister Bezalel Smotrich tend to arise when they come to negotiate the state budget. In the government meeting on the budget last week, they exchanged blows over the decision to raise public transportation tariffs, but in closed negotiating rooms they actually reached…
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How banks are taking CBK loans to invest in Treasury bills
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Commercial banks borrowed from the Central Bank of Kenya’s emergency discount window to finance purchases of government securities as they saw a profit opportunity from the lower interest rate on the facilities compared to treasury bonds. The discount window was supposed to be used to provide temporary liquidity to banks…
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Treasury revives plans to tax popular infrastructure bonds
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National Treasury has revived plans to impose a 5% withholding tax on interest earned on infrastructure bonds with maturities of at least three years. Infrastructure bonds (IFBs) have been tax-free since they were first issued in February 2009 – meaning they will be subject to tax for the first time…
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Treasury short of NIS 30b as budget deadline nears
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After two and a half months, and assuming no further delays, the 2025 state budget will be submitted to the government for approval this Thursday. Although there is little time left, the package of measures presented by Finance Minister Bezalel Smotrich aimed at narrowing the fiscal deficit is still full…
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Treasury eyes automation, fleet tracking in fuel cost cut push
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Government-owned vehicles will only be refueled using automated tag systems and will remain monitored through digital tracking devices in changes proposed by National Treasury aimed at reducing operating costs. The proposal will see the centralization and automation of fuel programs for all government fleets to reduce waste. “By tracking and…
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Treasury targets civil service budget pensions, immigrants
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The list of measures planned by the Israeli Ministry of Finance as part of the 2025 budget goes on. In the latest draft of the planned measures published by the Ministry of Finance, it added a new imposition on employees who are supposed to receive the civil service budget pension,…