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Rolls-Royce to set up in East Africa as demand for engines rise
Rolls-Royce is working on setting up its first office in East Africa as demand for locomotive, ship, and hydropower generation engines grows. In a conference in Nairobi, Kenya, the UK engineering firm CEO John Kelly said that the region is growing at an adorable 6.5% rate, and with a population of 174 million, it’s becoming more promising by the day.
More pain as Turkey Central Bank raises rates to 15%
On Thursday, the Central Bank of Turkey delivered another large interest rate hike to battle the overshadowing inflation rise. The move signals a shift towards more conventional economic policies to counter the sky-high inflation rates following the criticism that Tayyip Erdogan had led to higher living costs.
More pain as Eurozone stocks fall ahead of BoE rate hike decision
Eurozone has received news on the necessity for further rate hikes in a sour way making the stocks plummet as they await today’s decision from BoE. The Benchmark Stoxx 600 was down 0.92% at the open Thursday markets, with all sectors trading in the red.
Ripple acquires in-principle license for digital asset services in Singapore
Ripple has scored another regulatory win as it acquires an in-principle license to serve customers in Singapore. The Monetary Authority of Singapore (MAS) approved the approval per a June 22 statement.
Cameron Winklevoss believes “The great accumulation” of Bitcoin has begun
Cameron Winklevoss, a Gemini co-founder, believes that the great accumulation for BTC is here with different TradFi institutions racing to buy in. His comments come when BlackRock, the world’s largest investment manager, filed for an ETF, prompting its competitors to follow suit.
Layer 2 Polygon to upgrade Polygon PoS Chain compatible with zkEVM
On June 20, Polygon Labs, the company behind the Ethereum scaling solution Polygon network, published a pre-proposal post seeking to make its primary chain compatible with zero knowledge of Ethereum Virtual Machine technology.