Egyptian Billionaire Naguib Sawiris Defends Trump’s Trade War, Blasts China for ‘Raping Us’

In what is bound to be pleasing to the ears of U.S. President Donald Trump, Egyptian billionaire Naguib Sawiris has sided with the hardline stance that the leader of the world’s largest economy has taken amid the ongoing U.S.-China trade war. Speaking with CNBC, Sawiris agreed with Trump’s well-known sentiment that China has been taking advantage of the United States and other countries. “President Trump is right about that: This has been a long time where we closed eyes on China raping us.” Sawiris has expressed his fondness for Trump…

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China Injects Record $83 Billion to Counter Economic Decline

China’s economy is facing some of its toughest challenges in years. On Wednesday, a day after several Chinese government institutions vowed further stimulus to aid its financial sector, the People’s Bank Of China injected a net $83 billion (560 billion yuan) into open market operations via reverse repo operations — to counter its declining economy. The post China Injects Record $83 Billion to Counter Economic Decline appeared first on CCN

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Dow Eyes Shaky Monday as US-China Trade Talks Ramp up

Dow Jones Industrial Average futures mostly traded sideways on Monday morning, as the US stock market waited to see whether renewed negotiations between the world’s two largest economies would bring an end to the US-China trade war. Dow, S&P 500 Teeter as World’s Largest Economies Meet for Trade Talks At 8:19 am ET, Dow futures The post Dow Eyes Shaky Monday as US-China Trade Talks Ramp up appeared first on CCN

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Bitcoin Price Falls to $3,900 After Poor Weekend, Crypto Market Loses $12 Billion

The cryptocurrency market has lost more than $12 billion from its valuation in the past 24 hours, as the Bitcoin price fell under the $4,000 mark. Major cryptocurrencies including Stellar (XLM) and Bitcoin Cash (BCH) lost around 6 percent in value on average, demonstrating a lack of momentum and trading activity. Bloodbath On December 2, … Continued The post Bitcoin Price Falls to $3,900 After Poor Weekend, Crypto Market Loses $12 Billion appeared first on CCN

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Bitcoin Miners are Selling Old ASICs for Scrap Metal as Price Decline Hastens Obsolescence

Over the past several days, there has been much debate within cryptocurrency circles about a series of videos and images allegedly showing Chinese crypto mining firms dumping bitcoin miners on the street. BRUTAL: this is what’s happening now in a China based mining site …. 😨😨 pic.twitter.com/gcN4lVTyBt — Dovey Wan 🦖 (@DoveyWan) November 20, 2018 The post Bitcoin Miners are Selling Old ASICs for Scrap Metal as Price Decline Hastens Obsolescence appeared first on CCN

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China’s Largest Newspaper Group to Launch Blockchain Laboratory

People Capital, the venture capital arm of People’s Daily Online — the official newspaper of the Chinese Communist Party — has signed an agreement with Xunlei Limited to use the blockchain technology for innovation and to empower the Chinese economy and the world at large. The alliance between the companies is part of a global The post China’s Largest Newspaper Group to Launch Blockchain Laboratory appeared first on CCN

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Chinese Retail Giant JD.com Launches Open Blockchain Platform

JD.com, China’s largest retailer and e-commerce provider, has deployed an open blockchain platform to enable customers to have their own blockchain solutions to improve the transparency, efficiency and security of their operations, the company announced on its corporate blog. The JD Blockchain Open Platform expands the company’s Retail as a Service and will allow customers The post Chinese Retail Giant JD.com Launches Open Blockchain Platform appeared first on CCN

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China: World’s Third-Largest Bank Issues Farmland Mortgage Loan on a Blockchain

In a significant breakthrough to deepen the reform of mortgage loans, the Agricultural Bank of China (ABC) revealed that it has issued a farmland loan worth $300,000 on the blockchain in a trial. The bank, as reported by a local news source, used a segment of agriculture land as collateral to issue the mortgage loan in The post China: World’s Third-Largest Bank Issues Farmland Mortgage Loan on a Blockchain appeared first on CCN

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