DWS venture gets German finance regulator's approval for euro stablecoin
The plans for the stablecoin have been in the works for more than a year.
Stablecoins are digital tokens designed to keep a constant value and are backed by traditional currencies such as the U.S. dollar or euro.
(Reporting by Tom Sims, Editing by Miranda Murray)
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Daily Express
4 hours ago
- Daily Express
Malaysia slaps duties on steel imports from China, South Korea and Vietnam
Published on: Saturday, July 05, 2025 Published on: Sat, Jul 05, 2025 By: FMT Reporters Text Size: The investment, trade and industry ministry said action has to be taken to prevent 'further injury' to the domestic industry. (Reuters pic) PETALING JAYA: The government has imposed provisional anti-dumping duties ranging from 3.86% to 57.90% on certain iron and steel imports from China, South Korea and Vietnam. The investment, trade and industry ministry said the duties will take the form of bank guarantees, effective for up to 120 days starting July 7, pending a final determination by Nov 3. Advertisement This follows a preliminary investigation on Feb 6 into flat-rolled iron or non-alloy steel products coated with zinc using the hot-dip process, commonly known as galvanised steel coils or sheets. Local steelmaker CSC Steel Sdn Bhd had lodged a petition, claiming that imports from the three countries were being sold below their domestic market prices, causing losses to Malaysian producers. 'The government has found that there was sufficient evidence to continue with further investigation on the importation of the subject merchandise from China, South Korea and Vietnam at dumped prices. 'The provisional measure is necessary to prevent further injury to the domestic industry,' the ministry said in a statement today. Companies and exporters affected by the decision have until July 14 to submit feedback. A final decision will be made by Nov 3. More information, including a public version of the findings, may be found at * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Star
8 hours ago
- The Star
In July 4 ceremony, Trump signs tax and spending bill into law
U.S. President Donald Trump presents a sweeping spending and tax legislation, known as the "One Big Beautiful Bill Act," after he signed it, at the White House in Washington, D.C., U.S., July 4, 2025. REUTERS/Leah Millis WASHINGTON (Reuters) -U.S. President Donald Trump signed into law a massive package of tax and spending cuts at the White House on Friday, staging an outdoor ceremony on the Fourth of July holiday that took on the air of a Trump political rally. With military jets flying overhead and hundreds of supporters in attendance, Trump signed the bill one day after the Republican-controlled House of Representatives narrowly approved the signature legislation of the president's second term. The bill, which will fund Trump's immigration crackdown, make his 2017 tax cuts permanent, and is expected to knock millions of Americans off health insurance, was passed with a 218-214 vote after an emotional debate on the House floor. "I've never seen people so happy in our country because of that, because so many different groups of people are being taken care of: the military, civilians of all types, jobs of all types," Trump said at the ceremony, thanking House Speaker Mike Johnson and Senate Majority Leader John Thune for leading the bill through the two houses of Congress. "So you have the biggest tax cut, the biggest spending cut, the largest border security investment in American history," Trump said. Trump scheduled the ceremony on the South Lawn of theWhite House for the July 4 Independence Day holiday, replete with a flyover by stealth bombers and fighter jets like those that took part in the recent U.S. strikes on nuclear facilities in Iran. Hundreds of Trump supporters attended, including White House aides, members of Congress, and military families. After a speech that included boastful claims about the ascendance of America on his watch, Trump signed the bill, posed for pictures with Republican congressional leaders and members of his cabinet, and waded through the crowd of happy supporters. The bill's passage amounts to a big win for Trump and his Republican allies, who have argued it will boost economic growth, while largely dismissing a nonpartisan analysis predicting it will add more than $3 trillion to the nation's $36.2 trillion debt. While some lawmakers in Trump's party expressed concerns over the bill's price tag and its hit to healthcare programs, in the end just two of the House's 220 Republicans voted against it, joining all 212 Democrats in opposition. The tense standoff over the bill included a record-long floor speech by House Democratic Leader Hakeem Jeffries, who spoke for eight hours and 46 minutes, blasting the bill as a giveaway to the wealthy that would strip low-income Americans of federally-backed health insurance and food aid benefits. Democratic National Committee Chair Ken Martin predicted the law would cost Republicans votes in congressional elections in 2026. "Today, Donald Trump sealed the fate of the Republican Party, cementing them as the party for billionaires and special interests - not working families," Martin said in a statement. "This legislation will hang around the necks of the GOP for years to come. This was a full betrayal of the American people. Today, we are putting Republicans on notice: you will lose your majority." (Reporting by Trevor Hunnicutt and Timothy Gardner in Washington and Andrea Shalal in Bridgewater, New Jersey; Writing by Daniel Trotta and Nathan Layne; Editing by Chizu Nomiyama and Rosalba O'Brien)
The Star
11 hours ago
- The Star
Interview: Germany-China partnership crucial amid global challenges, trade expert says
STUTTGART, Germany, July 4 (Xinhua) -- China remains a crucial market for German companies, and the long-standing partnership between the two nations is becoming increasingly significant amid global strategic uncertainties, tariff disputes, and supply chain disruptions, a German trade expert has said. Germany-China partnership is built on trust and mutual respect, and now it is time to further consolidate this cooperation, Roland Bleinroth, chief executive officer of leading German event organizer Messe Stuttgart, said in a recent interview with Xinhua. Describing China as "a very important market" for German companies, Bleinroth emphasized that, given the current global challenges, the Chinese market has become even more vital. According to him, German companies are showing strong confidence in China. The decisions by a wide array of German companies to double down on their investment in China reflect an unwavering commitment to the Chinese market. Messe Stuttgart manages the Stuttgart trade fair center and hosts various exhibitions, trade fairs, congresses, and technical conferences, which have welcomed a multitude of Chinese participants over the past years. Citing the active participation of Chinese exhibitors and visitors at German fairs, as well as robust German engagement in trade shows across China, Bleinroth said that trade exhibitions play a pivotal role in fostering these ties. As key exporters in the world, China and Germany have been championing the idea of globalization and free trade. Bleinroth underscored that globalization, although being unfairly portrayed as a zero-sum game, has actually driven economic growth over the past few decades, and still represents a win-win scenario for all participants in international commerce. Bleinroth expressed concern that this "economic commonsense" is being questioned. With technological advancements such as artificial intelligence, automation, and robotics reshaping industries worldwide, he called for closer collaboration between Germany and China to pursue common goals. Looking ahead, Bleinroth said he remains optimistic about the future of Germany-China cooperation. "There are so many things that we can work together on for the common benefit of both sides and also for the rest of the world," he said. "We need to focus on what we can do together," rather than on our differences, he added.
