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    Germany unveils immigration reform plan to tackle labour shortages

    “With this, we are laying the foundation for a new start in migration policy,” Finance Minister Christian Lindner tweeted after the cabinet approved the reforms. “Anyone who can contribute to the country’s economic success as a skilled worker is welcome.” One of the reforms is a new immigration law that aims to address key hurdles for migrants to Germany, particularly for those coming from outside the European Union. The draft law, seen by Reuters, says the reform could increase the number of workers from countries outside the EU by 60,000 people a year. It offers foreign workers three pathways to enter the country. The first one requires a professional or university degree recognised in Germany, and an employment contract. The second requires a minimum of two years of experience working in a relevant sector, and a degree or vocational training.The third is a new “opportunity card” for individuals who do not have a job offer but have the potential to find work. The opportunity card follows a points-based system that takes into account qualifications, language skills, professional experience, connection to Germany and age.The cabinet also approved an education law that entitles young people to paid off-the-job training. Germany’s Federal Labour Agency will pay up to 67% of the net salary for the duration of the training.The cabinet also decided to extend regulations for job-seekers from Albania, Bosnia-Herzegovina, Kosovo, the Republic of Northern Macedonia, Montenegro and Serbia, which were previously expected to expire at the end of the year. Germany will be able to recruit up to 50,000 workers annually from these countries. More

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    Experts Believe De-Dollarization May Lead To BTC and ETH Rally

    Experts in the crypto space have reason to believe that the prices of major cryptocurrencies including Bitcoin and Ethereum may see a significant rally in the near future. The major driving factor for such a rally would be the recent developments around the world that point toward “De-Dollarization”.The US Dollar has historically served as the global reserve currency. The majority of international trade is settled in USD, be it trading of oil, commodities, bilateral trade agreements, boosting forex reserves, etc. De-Dollarization is the process of substituting USD as the base currency for the above-mentioned transactions.Altcoin Daily pointed out in a recent Youtube video that more and more nations around the world are seeking alternatives to the US Dollar in a bid to reduce their dependence on the United States. Calls for an alternate currency have intensified amid the Ukraine War as the USD continues to lose its value.Russian President Vladimir Putin announced earlier this week that Russia will begin using the Chinese Yuan instead of USD, for international payments. Saudi Arabia is reportedly seeking a similar arrangement with China. Meanwhile, South American economies like Argentina and Brazil are exploring the creation of a common currency. India and UAE are also exploring the use of the Rupee to trade non-oil commodities.Crypto experts believe that the abandonment of the US Dollar as the global reserve currency will lead to the rapid devaluation of the currency. This in turn may prompt the US to seek a Bitcoin standard. The use of stablecoins and Ethereum may also increase as investors flee TradFi and seek refuge in DeFi.The post Experts Believe De-Dollarization May Lead To BTC and ETH Rally appeared first on Coin Edition.See original on CoinEdition More

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    SafeMoon’s Upgrade Facilitated its Exploitation, Says Analyst

    According to the latest data, it appears that the blockchain platform SafeMoon’s exploitation was facilitated by the platform’s recent upgrade that introduced a “public burn bug.”On March 29, the on-chain analytic platform PeckShield Inc. shared a Twitter thread on its official page, declaring that the upgrade’s public burn bug led to the exploit, supposedly initiated by an admin key leak:Previously, it was revealed that nearly $9 million in tokens were drained out of the exchange following the exploitation when the attackers manipulated a fabricated feature on the platform’s smart contracts.Subsequently, SafeMoon updated its Twitter page with the information that the platform’s liquidity pool has been compromised, adding:According to PeckShield, the hacker manipulated the price of the SFM tokens using a code function and facilitated the sale of enough tokens back to the liquidity pool resulting in the extraction of the remaining WBNB in the pool.Significantly, PeckShield added:Nonetheless, the hackers declared after some hours that they are willing to return the fund, following which it was reported that the attackers have already sent 4000 BNB equivalent to $1.2 million.The post SafeMoon’s Upgrade Facilitated its Exploitation, Says Analyst appeared first on Coin Edition.See original on CoinEdition More

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    Arbitrum Reacts Positively to FalconX Network’s $ARB Purchase

    Arbitrum, the Layer 2 scaling solution for Ethereum, has seen a surge in the price of its native token, $ARB, following reports by Lookonchain that a major institution has bought a significant amount of it from Binance.According to reports, FalconX, a digital asset trading platform, purchased 1.65 million $ARB tokens, worth around $2.06 million, from Binance earlier today.This news has caused a significant increase in the price of $ARB, which rose by over 10% in a matter of hours.
    ARB/USD price chart, source: CoinmarketcapAccording to experts, this investment by FalconX is seen as a significant vote of confidence in the Arbitrum network, which has received media attention over the last several weeks. Reputable analytical firms like Messari have additionally heightened speculation on Arbitrum due to the excitement around its environment.The argument behind Messari’s remarks is that new protocols are recognized as a significant revenue generator that often acts as an appealing offering to members of their society.Messari’s accompanying charts also show that the retention rates of Arbitrum’s native applications were higher than those of Optimism, another L2 scaling solution. Specifically, Arbitrum outperformed Optimism in ecosystem benchmark and network application coverage areas.Further, according to market watchers, the purchase of such a large amount of $ARB tokens by a major institution like FalconX is a strong signal of the growing interest in the network and its potential for future growth. Crypto proponents also believe this has led to speculation that other institutions may follow suit and invest in $ARB tokens, further driving up the price.The post Arbitrum Reacts Positively to FalconX Network’s $ARB Purchase appeared first on Coin Edition.See original on CoinEdition More

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    Corporate giants say anti-LGBT law would hurt Uganda’s economy

    The Open for Business coalition said the legislation, which criminalises identifying as lesbian, gay, bisexual, transgender or queer, would curb investment flows and deter tourists. The bill imposes the death penalty for those who commit so-called aggravated homosexuality, defined as same-sex relations with people under the age of 18 or when the perpetrator is HIV positive, among other categories. It awaits President Yoweri Museveni’s signature. The White House said last week the bill was concerning and that it was one of the most extreme actions taken against the LGBTQ community in the world.Museveni has not yet commented on the bill, although he signed a similar law in 2014 that provoked international condemnation before it was voided by a domestic court on procedural grounds. Open for Business said in a statement the new law would undermine companies’ ability to recruit a diverse and talented workforce. In addition, a provision that would require companies to report those suspected of being LGBTQ would put them “in an impossible situation,” Yvonne Muthoni, the coalition’s country director in neighbouring Kenya, said in an interview. “Either they violate the law in Uganda or they are going against international standards of corporate responsibility as well as human rights laws of the countries in which they are headquartered,” she said. Among the coalition’s members, Google, Mastercard (NYSE:MA) Unilever (NYSE:UL), Standard Chartered (OTC:SCBFF), PwC and Deloitte have operations in Uganda. Uganda’s Information Minister Chris Baryomunsi was not immediately available for comment. Anti-LGBT discrimination has significant economic costs, the coalition said. According to a 2019 study it conducted, Kenya loses the equivalent of up to 1.7% of its GDP annually as a result. Open for Business has previously spoken out against anti-LGBT measures in countries like Hungary, where it criticised a plan in 2021 to ban the dissemination of LGBT content in schools. More

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    Scrapping food VAT not enough to tackle cost of living crisis, Portuguese say

    LISBON (Reuters) – As prices soar in one of western Europe’s poorest nations, many Portuguese say the government is failing to help them cope and they brush off a new measure to scrap value added tax (VAT) on basic food products as too insignificant. “Things are really more expensive and it is difficult for us to get what we need…we are buying less,” said Lisbon resident Teresa Peres, 62, who opts to shop at a food market in the Benfica neighbourhood to save some money.”I think it’s such a ridiculous (VAT) amount…it’s not going to be felt anyway,” she said.The government, which did not reply to a request for comment, announced on Monday a list of 44 essential goods, including milk, bread, rice, tomatoes, and some types of meat and fish whose 6% VAT will be temporarily removed. It increased subsidies to benefit poorer families but only the VAT measure addressed the plight of the 10-million-strong general population in a country where more than 50% of workers make less than 1,000 euros ($1,084) per month.”Increase people’s wages,” said Ana Siva, a 45-year-old bakery owner at the Benfica market. “The VAT (measure) is insignificant. It will be a difference of 5 or 6 cents.”The government announced a 1% pay increase for the country’s more than 740,000 civil servants.Portuguese inflation slowed slightly to 8.2% year-on-year in February, but prices of unprocessed food products, such as fruit and vegetables, surged by 20.11%. The rising cost of living has caused a wave of protests in Portugal and in wider Europe.DECO PROTESTE, Portugal’s biggest consumer protection association, said the basket of essential goods cost around 226 euros, a 23% jump from a year ago.”Consumers had to change their eating habits. We are beginning to see a large proportion of consumers who had to stop buying,” DECO PROTESTE’S Rita Rodrigues said.Antonio Brito, a vegetable and fruit seller, said fewer and fewer customers were showing up.”Those who come are counting all the pennies because there is very little purchasing power,” he said, urging the government to increase salaries and also pensions. ($1 = 0.9223 euros) More