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The Wuling COVID Testing Cars will be delivered at the end of May

HONG KONG, May 23, 2022 - (ACN Newswire) - On May 13, Guo Yanhong, the supervisor of the Medical Administration and Hospital Authority of the National Health Commission,...

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Latest Litecoin price and analysis (LTC to USD)

Litecoin is currently trading at a six-week high of $125 after succesfully breaking above the $119 level of resistance.

Altcoin Season 2022: Loopring (LRC) Price Primed To Lead The Altseason

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The post Altcoin Season 2022: Loopring (LRC) Price Primed To Lead The Altseason appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Last night, the Loopring coin had a sudden upswing, rising roughly 45 percent in the sideways zone after a bearish trend. The LRC price action formed a bearish pattern (Double Top Formation) around the beginning of February, and the bulls have been consolidating below the neckline of the following structure for the past three weeks. …

Altcoin Season 2022: Loopring (LRC) Price Primed To Lead The Altseason

bull-market

The post Altcoin Season 2022: Loopring (LRC) Price Primed To Lead The Altseason appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Last night, the Loopring coin had a sudden upswing, rising roughly 45 percent in the sideways zone after a bearish trend. The LRC price action formed a bearish pattern (Double Top Formation) around the beginning of February, and the bulls have been consolidating below the neckline of the following structure for the past three weeks. …

Tokenized Gold Market Caps Grew Significantly Last Month as Fresh Demand Drives Premiums

tokenized-gold-market-caps-grew-significantly-last-month-as-fresh-demand-drives-premiums

While gold tapped an all-time high (ATH) this year surpassing $2K per ounce, the top tokenized gold crypto assets by market valuation continue to see significant demand, premiums, and market capitalization growth. For instance, Paxos Trust Company’s PAXG market cap jumped more than 43% in 31 days from $424 million to today’s $611 million. PAXG…

The post Tokenized Gold Market Caps Grew Significantly Last Month as Fresh Demand Drives Premiums appeared first on Bitcoin News Miner.

Ether Burn Rate Plunges to Seven Month Low Ethereum Poised for Deflationary Cycle as The Merge Approaches

Ethereum is on a deflationary course as The Merge approaches.
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NFT FAQ: How to Flip NFTs and Make Money from Digital Assets

Some collectors are buying NFTs to flip them for a higher price. This is a short guide on how they are doing it.

The post NFT FAQ: How to Flip NFTs and Make Money from Digital Assets appeared first on BitPinas.

5 Top Platforms for Bitcoin Staking 

Crypto staking has become one of the best ways for investors to earn passive income. You simply stake your coins, and in return, you get [...]

Myanmar Announces Direct Border Trade Currency Settlement with Thailand; Plans Similar Non-Dollar Convertibility with India in Near Future

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NAY PYI TAW, MM, Mar 15, 2022 - (ACN Newswire) - The Myanmar Government has agreed to accept the Thai baht as an official currency for settling border trade starting this month. Thailand is the second country after China to permit its national currency to be exchangeable with the Myanmar kyat for border trade activities.

Myanmar's Minister of Information (MOI) Mr Maung Maung Ohn and Minister of Investments and Foreign Economic Relations (MIFER) Mr Aung Naing Oo said in a joint statement today that the kyat-baht initiative is a significant development as Thailand is Myanmar's second largest trading partner after China. The Myanmar Government intends to initiate similar currency convertibility for the Indian rupee for trade along the border it shares with India.

Myanmar and China commenced kyat-renminbi settlement for border trades in January 2022. The increasing use of non-US dollar direct currency settlement for border trade underscores the strong bilateral relations that Myanmar enjoys with its neighbours.

The kyat-baht settlement arrangement was endorsed by an official notification and guidelines issued by the Central Bank earlier this month. All settlements will be conducted online as opposed to cash transactions previously.

In Fiscal Year (FY) 2020-2021 (November-to-October) border trade along five checkpoints of the Myanmar-Thai border - Tachileik, Myawady, Kawthoung, Myeik and Hteekhee, - amounted to USD4.3 billion equivalent, up from USD3.9 billion in FY 2019-2020.

Starting this month merchants along the Myanmar-Thai border who are registered with the Myanmar Economic Bank can conduct trade based on the kyat-baht exchange rate announced daily by the Central Bank of Myanmar.

In FY 2020-2021 Thailand accounted for 17.61% of Myanmar's total trade which rose to USD5.3 billion from USD5.2 billion in FY2019-2020. Myanmar's main exports to Thailand include natural gas, base metals, electronic goods, pulses, and garments. In turn, Myanmar imports from Thailand machinery, appliances transport equipment and manufactured goods.

"Myanmar's immediate neighbours account for up to 70% of the country's total trade volume. Direct non-dollar currency settlements will help to broaden and facilitate bilateral trade, flow of goods and other forms of payment and settlement with the respective countries.

"As Myanmar gradually adopts full bilateral currency swap arrangements with various countries, regional economic cooperation will also be strengthened. By reducing dependence on the US dollar, we will mitigate the risk of sudden exchange rate swings due to external geopolitical factors. Myanmar can also reduce physical money in circulation as more trade transactions migrate online. If we can succeed with such arrangements with our immediate neighbours, Myanmar can gradually reduce the dependence on the US dollar for up to 70% of Myanmar's national trade volume," the two Ministers added.

The currency arrangements will also help Myanmar reduce inflation caused by the rise of the U.S. dollar, while alleviating concerns of currency shortage within the country. The arrangements will also contribute to the economic recovery of the country which - despite rising energy prices - expects to record modest GDP growth in the current fiscal year ending October 2022.

The currency shortage and weaker kyat last year was stoked by economic sabotage by the opponents including so-called People's Defensive Force (PDF) which tried to sow distrust in the local banking and financial system. Supported by foreign elements, the outlawed PDF also launched a terror campaign which caused the lives of many Government servants, security forces, and damage to public infrastructure.

The disturbances commenced after the 1 February 2021 Proclamation to declare a state of Emergency in Myanmar. Since the second half of 2021, the country has achieved national stability under the State Administration Council (SAC) which intends to call for a multi-party general election to be held by August 2023.

ASEAN Economic Ministers' Meeting

Myanmar's Minister of Foreign Investments and Economic Relations will represent the country at the March 16-17 ASEAN Economic Ministers' Retreat. "The Ministry will update other ASEAN members on the economic impact on Myanmar caused by two recent crisis situations - the COVID-19 pandemic and civil disobedience," said MIFER Minister Aung Naing Oo.

The Ministry will also update the significant efforts Myanmar is taking to develop the small and medium enterprises especially in the agriculture and manufacturing sectors through provision of credit and measures to facilitate the business environment despite the two major challenges.

"While the pressure on the financial system has eased and the kyat has stabilized due to policies implemented by the SAC, the Russia-Ukraine conflict has caused domestic energy prices to spike.

Due to the level of development of the country and recent crisis situations, Myanmar has probably faced more challenges than most other ASEAN members in the past year or so," they said.

Minister Aung Naing Oo also said:

"Myanmar has made every effort to fulfill its obligations under the four pillars of the ASEAN Economic Community.

Myanmar is one of the earliest signatory states to deposit its instrument of ratification of the Regional Comprehensive Economic Partnership (RCEP) in accordance with the RCEP Agreement. However, Myanmar's instrument of ratification has been politicised by some RCEP participating countries. Likewise, Myanmar's ratification letter for Protocol to Implement the Tenth Package of Commitments under the ASEAN Framework Agreement on Services has also faced the same problem.

ASEAN's approaches to creating a much stronger Southeast Asia, narrowing the development gap within ASEAN, and strengthening economic resilience cannot be fulfilled if Myanmar is excluded. This is not consistent with the ASEAN Charter. Myanmar believes that such actions can affect ASEAN's centrality.

For all member countries to benefit from economic integration, an all-inclusive manner is needed in ASEAN. No country should lag in regional economic integration. Sadly, some of ASEAN's directions and actions appear mismatched on the ground.

Whatever the challenges, Myanmar will actively continue to fulfill the commitments and obligations as an ASEAN member and as a responsible global citizen."

Issued by Ministry of Information and Ministry of Investment and Foreign Economic Relations, Union Government of Myanmar.
For more information, please contact mediacontact@e-information.gov.mm or myintkyawmoi@gmail.com

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comThe Myanmar Government has agreed to accept the Thai baht as an official currency for settling border trade starting this month. Thailand is the second country after China to permit its national currency to be exchangeable with the Myanmar kyat for border trade activities.

Will Cardano (ADA) Steep Down To $0.4 Level Very Soon?

Will Cardano (ADA) Steep Down To $0.4 Level Very Soon?

As a matter of fact, Cardano is one of the tokens that have the strongest potential to reach new highs.

The post has appeared first on thenewscrypto.com

RUNE Token Rallies By Double-Digits After New Features Announcement

Rune Token rallies by double digits after the announcement of the new features, in the past 24 hours as we can see more today in our latest cryptocurrency news today. The DeFi project ThorChain launched new updates and the rUNE token rallied right after the announcement. Thorchain is up by 18% over the past 24 […]

Bitcoin Falls Below $40,000 Trimming The Gains From US Crypto Order

On Thursday, the cryptocurrency market experienced another roller-coaster day, with some coins declining. One such example is Bitcoin which fell 5.9% to $39,432 when writing these words. The bitcoin market is still bearish, with prices dipping below $40,000 today. This comes after a slew of positive news about US President Joe Biden’s executive order that will likely focus more on the crypto sector. The crypto markets were not looking very promising today, with Bitcoin declining heavily and many other coins dropping as well. For example, Ether, the second-largest cryptocurrency, fell as much as 4.4% to $2,589.  Related Reading | TA: Ethereum Trims Gains, What Could Spark A Fresh Increase It’s still too early to tell if this will have any long-term effects on the industry, but the market has seen enough sell-offs already where people might want investments in other cryptocurrencies or even just gold until things calm down again. Bitcoin rose as much as 11% on Wednesday following an executive order from Biden that appears to frame digital assets in a positive light. However, those gains proved fleeting, and traders soon realized the news didn’t live up to their expectations. As a result, Bitcoin is once again trading near its average price over the recent two months ($39,000). The cryptocurrency markets were not immune to the bearish trend that has plagued US stocks over recent weeks. As a result, Bitcoin’s price took another leg lower, mirroring developments in traditional financial markets just as futures on both S&P 500 and Nasdaq 100 indexes turned negative sound the same time. This is not surprising, considering how closely correlated cryptocurrencies are with major indices like SP500 or NDX100. Related Reading | TA: Bitcoin Corrects Gains, Why Dips Could be Attractive In Short-term Bitcoin Performance Against Others It’s been a rough year for cryptocurrencies thus far, with Bitcoin outperforming Ethereum and falling 17.6% while NASDAQ has dropped 17.1%. However, in 5 days, BTC has continued its strong performance against Ethereum but underperformed against NASDAQ. On March 9th, Google searches for “Bitcoin” shot up dramatically, but in the last 24 hours, they’ve steadied and declined slightly. The trade volume, too, went down, resulting in a crash of BTC below $40,000 per coin. According to a recent survey, most people think that Bitcoin will be worth more than $60,000 by the end of 2022. However, there is a lot of fear right now surrounding Bitcoin crashes and the possibility of regulations. Only 5% of people surveyed by JPMorgan believe that BTC will be worth more than $100,000 by the end of 2022. Featured image from Pixabay, chart from Tradingview.com
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