Category: Treasury
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Treasury revives plan to tax EVs for each km traveled
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As part of the Economic Arrangements Law accompanying the 2025 budget, the Finance Ministry plans to impose a tax of NIS 0.15 per kilometer driven by electric vehicles. This tariff will be lower than the NIS 0.19 per kilometer that drivers of cars with combustion engines pay as a customs…
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Treasury cuts Sh334bn tax target for new Finance Bill
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The Treasury has cut its tax target for the next financial year by Sh334 billion and cut spending in changes that signal the government’s reluctance to raise taxes amid public anger. Budget review and forecast papers show the treasury expects to raise Sh2.96 trillion in the year starting next July…
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Treasury yields stay on the floor as the market sees an end to high inflation
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10-Year US Treasury Yields The days of safe, high-yield investments may have ended a generation ago. Jamie Dimon is still warning about inflation, but the bond market has moved. The breakeven rate is below 2%, which means the Fed is more likely to miss its target, and nominal interest rates…
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US Treasury auctions $58B of 3 year notes at a high yield of 3.440%
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High yield:3.440% WI level at auction time: 3.457% tail: -1.7 bs Average of six auctions: 0.1 basis points Show Coverage: 2.66X Merchants:10.45% Direct (local demand measure):11.3% Indirect (international demand measure):78.24% Auction Grade: A details: International buyers were in attendance and outperformed other bidders. International buyers received 78.24%. This was well…
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Treasury mulls plan to hike VAT to 18.5%
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The government has already agreed to raise VAT to 18% from January 1, 2025 as part of a special budget passed after the war began. Israel’s Finance Ministry is considering a plan to raise VAT to 18.5% from its current 17%, if necessary, a source familiar with the matter told…
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Treasury mulls plan to hike VAT to 18.5%
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The government has already agreed to raise VAT to 18% from January 1, 2025 as part of a special budget passed after the war began. Israel’s Finance Ministry is considering a plan to raise VAT to 18.5% from its current 17%, if necessary, a source familiar with the matter told…
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Oasis reunion tour set to boost uk economy, benefiting Labour and the treasury
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The long-awaited Oasis reunion tour is expected to deliver more than just nostalgic songs; it is expected to provide a significant boost to the British economy, a move that could be beneficial for the Labour Party. According to Paul Haywood-Schaefer, senior director at audit and consulting firm Blake Rothenberg, the…
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Private schools urge treasury to delay VAT implementation until September ’25
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Private school leaders have urged the Treasury to delay the introduction of VAT on school fees, warning that introducing the tax in January could lead to a significant mid-year increase in pupil numbers in the state sector, putting unsustainable pressure on already limited resources. Independent schools are set to raise…
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Gensler May Become Treasury Secretary Under A Harris Administration
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Amidst the frenetic preparations for the upcoming US presidential election, a seductive rumor has emerged that could significantly impact the future of financial regulation and oversight of cryptocurrencies. According to senior Senate staffers and prominent Republicans, Vice President Kamala Harris may nominate current SEC Chairman Gary Gensler.as the next Treasury…
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Superstate integrates Chainlink for tokenized treasury fund
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Superstate, a blockchain-based asset management company, has integrated Chainlink technology as part of its push to tap into the growing token market. The asset manager will leverage Chainlink (LINK) data feeds to bring NAV data for the tokenized treasury fund on-chain. advertisement Superstate has announced that it aims to enhance…
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Superstate integrates Chainlink for tokenized treasury fund
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Superstate, a blockchain-based asset management company, has integrated Chainlink technology as part of its push to tap into the growing token market. The asset manager will leverage Chainlink (LINK) data feeds to bring NAV data for the tokenized treasury fund on-chain. advertisement Superstate has announced that it aims to enhance…
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Treasury prepares 2025 emergency budget cuts plan
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Israel’s Finance Ministry is quietly preparing a contingency budget plan for 2025 in case the government avoids passing the 2025 budget for political reasons, sources familiar with the situation told Globes. According to the original timetable, the government was scheduled to approve the budget proposal this week, but there is…
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Inside Mbadi’s in-tray as he takes over at National Treasury
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As new Treasury Secretary John Mbadi took office hours after being sworn in at State House in Nairobi, focus has shifted to a series of promises he made during his vetting process. Among the pledges Mr Mbadi made when he confirmed his approval of the loan last Saturday were promises…
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Steve Mnuchin calls for a culling of the 20-year Treasury bond he reintroduced
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It only takes a quick glance at the US bond curve to realize that something is wrong. One US Treasury bond – the 20-year note – is out of step with the rest of the market. It is hovering at yields much higher than those of the bonds around it…
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Mnuchin says it’s time to kill the 20-year Treasury bond
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We haven’t heard much about Steve Mnuchin since the Trump administration ended, but the former Treasury Secretary and Hollywood financier is in the news today. He says the US should ditch the 20-year bonds he introduced. A look at today’s yield curve shows why: 10 years 3.95% 20 years 4.33%…
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Global stocks rebound from sell-off; Treasury yields, dollar higher By Reuters
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By Sinead Carew and Amanda Cooper NEW YORK/LONDON (Reuters) – Stocks around the world rebounded on Tuesday from a sharp sell-off the previous day, while Treasury yields rose and the dollar firmed slightly as investors returned to riskier assets and central banks responded to recession fears. Oil prices rose on…
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$25 Million Drained From Compound (COMP) Treasury In Latest Governance Exploit Incident
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$25 million was drained from the Compound Finance (COMP) treasury in a recent governance attack, raising concerns about the state of decentralized governance in Decentralized Finance (DeFi) Ecosystem. DAO complex hijacked According to DeFi researcher Ignas said the attack began with an initial proposal to give away 92,000 COMP tokens,…
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Treasury on the spot over Sh2.6bn tax gift to e-bike firm
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Former Treasury Secretary Njuguna Ndung’u has been put in an awkward position over the allocation of more than Sh2.5 billion of public funds to pay taxes to a private electric vehicle company, sparking opposition from rival companies. The Treasury has offered to settle customs duties on 10,000 electric motorcycles and…
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UK’s new Treasury chief says previous government ‘covered up’ financial turmoil ahead of election
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Breadcrumbs Path Links BMW PMN Business Article author: Associated Press Danica Kirka Published on July 29, 2024 • Read for 3 minutes You can save this article by registering for free here. Or log in if you have an account. Article Content LONDON (AP) — Britain’s new Chancellor of the…
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Njuguna Ndung’u takes a breather after tough run at Treasury
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For Njuguna Ndung’u, his dismissal along with 21 other cabinet ministers two weeks ago marked the end of one of his most difficult tenures as national treasurer. Professor Ndung’u, a quiet economist, took over as Treasury Minister when the country was facing one of its worst dollar shortages, and as…