Treasury Secretary Bessent calls for "entire" review of Fed
U.S. Treasury Secretary Scott Bessent on Friday called for a wide-ranging re-examination of the Federal Reserve’s role and authority, including its ...
The Swiss government announced on Tuesday that the value of Russian assets frozen in the country has risen to 7.4 billion Swiss francs ($8.38 billion) by the end of March 2025, up from 5.8 billion francs last year, due to newly identified funds and ongoing investigations into sanctions violations.
The Swiss government has reported a significant increase in the value of Russian assets frozen within the country, reaching 7.4 billion Swiss francs ($8.38 billion) by March 2025, up from 5.8 billion francs the previous year. Officials attribute the rise to the identification and blocking of additional funds.
According to ISNA, the Swiss economy ministry linked much of this increase to a criminal investigation by the Swiss attorney general’s office into alleged sanctions violations and money laundering. While the ministry did not disclose specific details regarding the individuals or entities involved, it referenced an ongoing case that became public in August 2024. At that time, Swiss media, including Le Temps, reported that Switzerland had seized 1.3 billion francs and was investigating four individuals connected to sanctioned Russian billionaire Suleiman Karimov.
The economy ministry also noted that multiple cases are under investigation involving potential sanctions breaches by Swiss companies using foreign subsidiaries in the goods sector. Among the frozen assets are real estate, luxury vehicles, private aircraft, and valuable artworks.
Switzerland, traditionally known for its neutral stance, has faced increasing international pressure to prevent sanctions circumvention, particularly following Russia’s invasion of Ukraine in February 2022.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
A recent Federal Reserve Bank of New York (New York Fed) study reveals that while the use of artificial intelligence (AI) among businesses has grown significantly over the past year, very few companies have carried out AI-related layoffs.
Rising concerns over the U.S. economy and ongoing tariff disputes have put global government bonds under selling pressure, experts say. Donald Trump’s push for interest-rate cuts, combined with a major spending bill, has shaken investor confidence, sending bond prices down while yields rise.
Access to Google services was restored Thursday after a region-wide outage cut off millions of users across dozens of countries, with disruptions reported in platforms including YouTube, Gmail and Maps.
The pound and the yen came under strain on Wednesday, weighed down by renewed investor concerns over global fiscal health and political uncertainty in Japan.
The price of gold surged sharply on Wednesday, reaching a new record of $3,530.08 per ounce. Analysts say the rise is driven by expectations of a U.S. Federal Reserve (Fed) rate cut in September and concerns over the central bank’s independence.
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