Category: Treasury
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Storm over Sh200bn Treasury budget cuts amid blackmail claims
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Treasury Minister Njuguna Ndongo on Thursday sparked a storm in Parliament over his warning of Sh200 billion in budget cuts if MPs scrapped a handful of tax increases proposed in the Finance Bill, with lawmakers accusing him of blackmail. The threat of budget cuts came before the Finance Bill was…
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Rich parastatals face cash squeeze in Treasury raid
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Cash-rich parastatals are bracing for tough times after the state moved to raid their coffers in a move that will also see them hand over their surplus cash to the Treasury rather than investing in government paper. President William Ruto’s administration is eyeing at least Sh708.43 billion held by parastatals…
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Cardano’s $681.9 Million Treasury Set To Empower Community Governance
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Credit: BitcoinSystem The cryptocurrency landscape is constantly evolving, and Cardano (ADA) has emerged as a prominent player in this dynamic ecosystem. As the eighth-largest cryptocurrency treasury in the industry, Cardano’s financial reserves have received a lot of attention, especially with the impending transfer of this large treasury to the community.…
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Treasury seeks MPs nod for fresh Sh1bn Kenya Airways bailout
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Kenya Airways will receive Sh1 billion financial support from the Treasury for the financial year starting July if lawmakers approve the recommendations of the National Assembly Select Committee on Budget and Appropriations. The Ndinde Nyoro-led committee has asked lawmakers to approve the national carrier’s new bailout to partly fund its…
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Treasury fears trouble with IMF, debt risks
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The Treasury has intensified its pressure on Parliament to adopt punitive tax measures contained in the draft finance bill, saying it will help narrow Kenya’s budget deficit and reduce the desire to borrow. Principal Treasurer Chris Kipto said the higher taxes and new taxes proposed in the bill were needed…
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CBK bags Sh12bn interest from loans to Treasury
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The Central Bank of Kenya (CBK) will receive a total benefit of Sh12.62 billion from emergency lending to the National Treasury in the financial year ending June 30, 2024, more than double original estimates after the policy rate hiked over the past 12 months. A report on Consolidated Fund Services…
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Treasury sees NIS 55b in cuts needed for 2025
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The Israeli Ministry of Finance expects the fiscal deficit to decrease by 5.2% in 2025 to 4.4% in 2026 and 3.7% in 2027. Today, the Israeli Ministry of Finance published the latest figures for its three-year budget plan 2025-2027. According to the data, which plots the government’s current spending commitments…
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Treasury sees NIS 55b in cuts needed for 2025
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The Israeli Ministry of Finance expects the fiscal deficit to decrease by 5.2% in 2025 to 4.4% in 2026 and 3.7% in 2027. Today, the Israeli Ministry of Finance published the latest figures for its three-year budget plan 2025-2027. According to the data, which plots the government’s current spending commitments…
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Dollar rebounds as equities dip, eyes on Treasury auctions By Investing.com
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Investing.com – On Wednesday, the DXY index rose past the 105 mark. This move sparked debates among market watchers about whether this signifies the beginning of a new upward trend or is merely a continuation of range trading amid a period of low volatility. The recent pattern of weak results…
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Is Semler Scientific Adopting MicroStrategy’s Bitcoin Treasury Playbook?
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Tuesday, Semler Scientific Company (Nasdaq: SMLR), a medical software company, Announce It purchased 581 bitcoins for approximately $40 million as part of a “bitcoin treasury strategy.” In the wake of the announcement, some paralleled the company’s strategy with MicroStrategy’s, which entailed converting nearly all of its treasury into bitcoin. You…
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Is Semler Scientific Adopting MicroStrategy’s Bitcoin Treasury Playbook?
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Tuesday, Semler Scientific Company (Nasdaq: SMLR), a medical software company, Announce It purchased 581 bitcoins for approximately $40 million as part of a “bitcoin treasury strategy.” In the wake of the announcement, some paralleled the company’s strategy with MicroStrategy’s, which entailed converting nearly all of its treasury into bitcoin. You…
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US futures sink as rising Treasury yields rattle nerves
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Dow Jones futures fell more than 200 points as US stocks entered the red on Wednesday, after a rise in Treasury yields unnerved investors already considering whether the latest data will change the direction on interest rates. Dow Jones Industrial Average (YM=F) and S&P 500 (ES=F) futures fell 0.6%, after…
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Healthcare Company Semler Scientific Buys $40 Million Bitcoin, Adopts As Treasury Reserve Asset
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Semler Scientific Company (Nasdaq: SMLR), known for its healthcare solutions to combat chronic disease, has announced a major shift in its treasury strategy. The company’s Board of Directors approved Bitcoin as a primary Treasury reserve asset, along with a significant purchase of 581 Bitcoin for a total of $40 million,…
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Healthcare Company Semler Scientific Buys $40 Million Bitcoin, Adopts As Treasury Reserve Asset
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Semler Scientific Company (Nasdaq: SMLR), known for its healthcare solutions to combat chronic disease, has announced a major shift in its treasury strategy. The company’s Board of Directors approved Bitcoin as a primary Treasury reserve asset, along with a significant purchase of 581 Bitcoin for a total of $40 million,…
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U.S. Treasury auctions off $70 billion of five-year notes at a high yield of 4.553%
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High yield 4.553% WI level at option time 4.540% Tail: +1.3 basis points versus six averages. -0.1 pressure point Bid to cover: 2.3X versus a six-month average of 2.41X Traders: 19.52% vs. six-month average of 16.0% Direct: 15.44% vs. six-month average of 17.9% Indirect investments: 65.04% vs. six-month average of…
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Rachel Reeves Pledges ‘Most Pro-Growth Treasury in History’
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Labour’s shadow chancellor Rachel Reeves will commit to leading “the most pro-growth Treasury in our country’s history” if her party wins the election on July 4. In her first major economic speech of the campaign, Reeves will promise to “bring growth back to Britain” and ensure a pro-business, pro-Labour government…
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State invests housing levy billions in Treasury bonds absorption
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The government is investing Sh20 billion raised from the affordable housing levy in treasury bills and bonds, indicating a low absorption rate of funds allocated to build cheaper homes for low- and middle-income families. Bonds are medium to long-term government securities and purchasing them indicates that the government is collecting…
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El Salvador’s Bitcoin Treasury Surpasses $350 Million With 5,750 BTC Acquisition
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El Salvador made headlines once again as it announced its ownership of 5,750 Bitcoin (BTC), which is worth approximately $353 million based on current market prices. According to To Bloomberg. This revelation comes after the National Bitcoin Office launched a tracking website, developed in collaboration with mempool.space, to provide transparency…
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El Salvador Launches Website to Track $360M Bitcoin Treasury
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El Salvador made history in 2021 when it became the first country to adopt Bitcoin as legal tender under the leadership of President Nayib Bukele. This pioneering decision has enabled significant financial improvements throughout the small Central American nation. El Salvador yesterday Launched Its website tracks its holdings from the…
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El Salvador Launches Website to Track $360M Bitcoin Treasury
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El Salvador made history in 2021 when it became the first country to adopt Bitcoin as legal tender under the leadership of President Nayib Bukele. This pioneering decision has enabled significant financial improvements throughout the small Central American nation. El Salvador yesterday Launched Its website tracks its holdings from the…