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On January 28th, local time, Israeli Prime Minister Benjamin Netanyahu stated on January 27th that if Iran attacks Israel, Israel will retaliate with "force Iran has never seen before." Regarding claims about proceeding with reconstruction before the demilitarization of the Gaza Strip, Netanyahu explicitly stated that this "will not happen." He also denied rumors that Israel had allowed Turkey and Qatar to participate in the Gaza International Stabilization Force, saying, "That will also not happen." Netanyahu further asserted that the establishment of a Palestinian state in the Gaza Strip "has not happened in the past, and will never happen again."On January 28th, Westpac joined other major banks in predicting a 25 basis point rate hike by the Reserve Bank of Australia (RBA) at its February meeting. Westpac believes that persistently high inflation has cast a "decisive vote" for policy tightening, while maintaining its basic assessment that this rate hike will be a one-off move, not the start of a long-term rate hike cycle. Westpac argues that accurately identifying spare capacity in an economy nearing full employment and full capacity utilization is difficult. In this environment, inflation outcomes become the most reliable policy guide. The bank points out that underlying inflationary momentum is currently higher than the level needed for a smooth return to the RBAs 2-3% target range, leaving the RBA with little room to delay action. Nevertheless, Westpac does not expect automatic and continuous rate hikes. Current policy is considered to be at a restrictive level, and the remaining task of cooling inflation is relatively modest. The most likely outcome is a wait-and-see approach after February, while clearly conveying that the RBA is prepared to act again if inflation fails to slow as expected.According to futures news on January 28th, for the week ending January 24th, Japanese commercial crude oil inventories decreased by 271,837 kiloliters from the previous week to 9,251,160 kiloliters. Japanese gasoline inventories increased by 54,578 kiloliters from the previous week to 1,718,926 kiloliters. Japanese kerosene inventories decreased by 69,137 kiloliters from the previous week to 1,930,575 kiloliters. The average operating rate of Japanese refineries was 91.1%, compared to 89.7% the previous week.January 28 – Following the completion of necessary internal procedures by both parties, the Hong Kong-Turkey Investment Promotion and Protection Agreement (Investment Agreement) will come into effect on February 4. According to the agreement, both governments commit to providing protections for each others investors, such as fair, equitable, and non-discriminatory treatment of their investments, compensation in the event of investment expropriation, and allowing the free transfer of investments and profits overseas. The agreement also stipulates that investment disputes can be resolved in accordance with internationally recognized rules, including arbitration. Hong Kongs Secretary for Commerce and Economic Development, Edward Yau, stated that by strengthening investment protections, the Investment Agreement will enhance investor confidence, expand investment flows between Hong Kong and Turkey, and benefit the economic development of both places.On January 28, the World Health Organization (WHO) responded to the recent Nipah virus outbreak in India, stating that a case of Nipah virus infection has been confirmed in West Bengal, eastern India. Since the case was reported, the WHO has maintained close communication with local health authorities, conducting risk assessments and providing technical support. Necessary resources, including laboratory support, have been mobilized, and enhanced surveillance and infection prevention measures have been implemented. Based on current information, the WHO assesses that the risk of further spread from these confirmed cases is low. The local authorities have the capacity to effectively manage such outbreaks, and local health teams are fully implementing the public health response measures recommended by the WHO. To date, there is no evidence of increased human-to-human transmission of the virus.

Banking Behemoth Barclays Buys a Stake in Crypto Firm Copper

Skylar Shaw

Jul 26, 2022 11:35

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One of the biggest banks in the UK, Barclays, has participated in a fundraising round for Copper and is anticipated to spend millions of dollars in the cryptocurrency company, which counts Lord Philip Hammond, a former chancellor of the exchequer, among its advisors.


The investment round for Copper, which offers custody, prime broking, and settlement services to institutional investors investing in cryptoassets, is expected to be completed in the coming days.

Delay of nine months

Despite the recent cryptocurrency meltdown wiping away roughly $40 billion in investor money and more than $2 trillion in market value, Copper has still been able to attract investment from one of the most reputable banks in the world.


Barclays, the world's largest bank, has finished the lengthy investor negotiations that had been put off since November of last year as Copper struggled with a temporary regulatory registration in the UK.


More precisely, the Financial Conduct Authority (FCA) mandates interim registration for digital asset service providers in compliance with money laundering laws. This implies that in order to operate, all crypto-asset enterprises must first seek full FCA registration.


However, Copper subsequently made the decision to become regulated in Switzerland as a result of the financial watchdog's refusal to accept its license registration.


Blockchain.com and Revolut are just two of the many companies that operate under the Temporary Registration Regime (TRR), and more than 100 businesses filed for registration when the FCA took over as the UK's anti-money laundering and counter-terrorism funding body in 2020.

Banking Megacorp

Bloomberg reports that although Barclays has made an undisclosed investment in the "millions of dollars," individuals with knowledge of the situation indicated last year that the funds might increase Copper's worth to around $3 billion. Additionally, the sources said they were uncertain whether the sum raised would be made public.


In 2015, Barclays became one of the first traditional banks to promote cryptocurrency when it started enabling charities to accept contributions made in Bitcoin (BTC) as a form of alternative payment.


However, the bank also has a murky history with cryptocurrencies, having prevented UK-based clients from sending money to Binance by forbidding them from paying the exchange using a credit or debit card. The restriction was implemented soon after the Financial Do Authority said that Binance Markets Limited was no longer permitted to conduct cryptocurrency business in the nation.


Similar to this, Barclays already severed connections with Coinbase and is no longer the bitcoin exchange's financial provider.


In a Series B fundraising round that included Illuminate Financial Management, LocalGlobe, and MMC Ventures and was co-led by Dawn Capital and Target Global last year, London-based Copper received $50 million.

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