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ASIA:
China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against speculative crypto trading. Under the ban, such institutions, including banks and online payments channels, must not offer clients any service involving cryptocurrencies, such as registration, trading, clearing and settlement, three industry bodies said in a joint statement on Tuesday. China has banned crypto exchanges and initial coin offerings but has not barred individuals from holding cryptocurrencies.
Domestic sales of gasoline and diesel by Indian state refiners plunged by a fifth in the first half of May from a month earlier as lockdowns to curb coronavirus infections hit industrial activities and consumption, preliminary data showed on Monday. Indian fuel demand had recovered to near pre-COVID levels in March but has been declining since April given restrictions amid a staggering spike in infections
The Greek government is expected to send its final plan for the Recovery Fund to the European Commission next week. The multi-page report, largely ready, will include both the government’s priorities on the course of projects and investments proposed and the reforms that will accompany them.
The government’s economic team initially expected the plan to be sent as soon as Friday. Based on European regulation, disbursement of funds will be linked with the reform framework opted by the Greek government. Therefore, there will be landmarks which must be adhered to or else the country faced the risk of losing money. European monitoring on adhering to the plan will be made twice a year to assess reform progress.