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Business 08 Apr 2021 | 7:00 AM

Billionaire Mike Novogratz is shorting rates

NEW YORK: Billionaire investor Mike Novogratz said he’s bought Facebook Inc stock to benefit from crypto’s ascent and is also shorting the five-year Treasury as a hedge against policymakers pulling back monetary support.

Business 20 Apr 2021 | 7:00 AM

Bahamas tops China in ranking of central bank digital currencies

NEW YORK: Mainland China is third behind the Bahamas and Cambodia in a ranking of the maturity of central banks’ retail digital currency (CBDC) projects, according to a report from PwC.