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March 21, 2023
Fanb expresses remorse over military’s participation in cases of corruption.
written by Alexandra Hartman Editor-in-Chief
The Bolivarian National Armed Forces have given their support to the actions taken by the National Executive once morest corruption in the public administration. In a statement, they expressed their concern regarding the unethical behavior of some of their colleagues who have been serving on secondment in the national public administration. They emphasized that such conduct goes once morest the ethical principles and traditions of the armed institution and should be condemned.
Furthermore, they added that they would assist in the investigations and identify any administrative or criminal responsibilities of those involved. The Fanb declared that they will follow the orders given by President Nicolás Maduro to eradicate any practices that undermine public resources.
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They supported the actions promoted by the National Executive once morest irregular acts in the public administration.
Courtesy | They rejected the “unethical military” behavior of their colleagues on secondment
Through a statement, the Bolivarian National Armed Forces (Fanb) supported the actions promoted by the National Executive once morest corruption cases involving public officials.
“In recent days we have learned of the forceful actions taken by the Bolivarian Government once morest a group of public officials who have committed flagrant acts of corruption, which significantly affect republican morale, peace, good living, development and the prosperity of the Venezuelan society”.
In the letter, they regretted that soldiers were involved who were “serving a commission in the national public administration, specifically in PDVSA, who have violated the legal system, as well as the traditions and ethical principles that characterize the armed institution; which deserves the most categorical rejection. Consequently, they have been placed at the disposal of the competent bodies in order to assist in the investigations that are being carried out and establish administrative or criminal responsibilities as the case may be. The Fanb did not identify the military personnel involved in the investigation.
They added that they will comply with the orders issued by President Nicolás Maduro to eradicate unethical practices that harm public resources.
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In summary, the Bolivarian National Armed Forces have expressed their support for the actions taken by the National Executive once morest corruption in the public administration. They have emphasized the importance of ethical principles and the eradication of unethical practices that harm public resources. However, they have also regretted the involvement of soldiers in these corrupt acts and have placed them at the disposal of the competent bodies to investigate and establish administrative or criminal responsibilities as the case may be. It is encouraging to see the armed institution taking a strong stance once morest corruption and upholding their commitment to serve the Venezuelan society.
Confidence returns to banks and stock markets before the Fed
written by Alexandra Hartman Editor-in-Chief
European financial centers rose copiously by 1.42% in Paris, 1.75% in Frankfurt and 1.79% in London.
The stock markets confirmed on Tuesday their rebound that began the day before, the crisis of confidence in the financial system seeming to ease thanks to the various measures taken to limit the risks of contagion, investors being able to concentrate on the meeting of the American central bank (Fed ).
European financial markets rose copiously by 1.42% in Paris, 1.75% in Frankfurt and 1.79% in London, without however compensating for the losses of the past week generated by fears concerning the solidity of the banking system. . In Zurich, the SMI gained 1.4%.
Roughly attacked last week, banking stocks continued to raise the bar like UBS (+12.12%), Deutsche Bank (+6.05%), Commerzbank (+7.44%) or even BNP Paribas (+4.15%) and Societe Generale (+4.30%).
After its heavy setbacks, Credit Suisse regained 6.96% and the American bank First Republic, still rolled on Wall Street on Monday, rose by around 42% around 5:00 p.m. GMT.
This rebound in banking securities comes two days following the rescue in extremis of Credit Suisse, bought a pittance by its competitor and compatriot UBS.
The New York Stock Exchange also regained ground, supported by a rebound in banking stocks: the Dow Jones index advanced by 0.50%, the broader S&P 500 index by 0.70% and the Nasdaq by 0.96%.
After the big losses recorded last week, bond yields are also rebounding.
“Market participants have reassessed the current situation in the banking sector and no longer see the potential impact on European banks and financial institutions as too heavy,” according to independent analyst Andreas Lipkow.
Nevertheless, he stresses, “developments in the US financial sector are still being watched and the behavior of the US Federal Reserve tomorrow (Wednesday) should not be underestimated”.
Governments and monetary authorities both in the United States, following the bankruptcy of the American establishments Silicon Valley Bank (SVB) and Signature Bank earlier in the month, and in Europe with Credit Suisse, have provided strong responses to reassure on the solidity financial.
Despite the strong turbulence in the financial sector since the bankruptcy of SVB, depositors’ confidence “is strong” in European banks, which are deemed solid, said Tuesday Andrea Enria, senior official of the European Central Bank (ECB).
According to excerpts from her speech at the American Bankers Organization (ABA) annual conference in Washington, US Treasury Secretary Janet Yellen assured that the Fed’s responses over the past week “are working as intended to provide liquidity to the banking system” and that “money withdrawals from regional banks have stabilized”.
The banking sector in the United States “remains solid, resilient, well capitalized” and “has liquidity”, assured his side the boss of the ABA, Rob Nichols.
The Fed in a delicate position
After the ECB, which last week continued on the course of monetary tightening without committing to the pro
chain rate movement, investors will observe the reaction of the Fed, which is due to make its monetary policy decision on Wednesday following two days of meetings.
Investors drastically lowered their expectations of the peak in key interest rates, the main tool of central banks to fight inflation, in the name of financial sector stability.
“The Fed’s exercise is therefore certainly not the easiest, but might be simplified by the flexibility offered to it, at least on paper, by the position it has favored until now, namely: nothing is predefined”, according to Véronique Riches-Flores, economist of the firm RichesFlores.
All options are open, notes Ms. Riches-Flores, “including the possibility of returning to a much more aggressive policy in the long term, if, the current banking crisis circumscribed, the American economy continues on its current growth trajectory”.
On the side of oil and currencies
The euro rose 0.43% to 1.0768 dollars, around 5:10 p.m. GMT.
Bitcoin was trading at $28,348, up 0.94%.
The barrel of Brent from the North Sea rose by 1.46%, to 74.88 dollars, and that of American WTI by 1.86% to 68.90 dollars, around 5:10 p.m. GMT.
Microsoft is stepping up efforts to help independent developers port their games to the Xbox. – – Gamereactor
written by Alexandra Hartman Editor-in-Chief
over the years,[email protected]Plans have long called for indie developers to create projects for the Xbox family of consoles and PCs, but as Microsoft continues to position itself more firmly in the gaming industry, the tech giant has now unveiled the next step for smaller developers to bring their games to life. Take it to the game console.
this is called[email protected] The Developer Acceleration Program, designed to help indie developers port their games to Xbox (and other consoles) by providing financial justification to offset the investment required to create the port. Among other things, the program will give developers access to monthly webinars where they can chat with Team Xbox to discuss how to better market their games, handle the certification process, and more.Finally, the program will even offer funding opportunities for some promising developers to create working prototypes for their games, this kind of financial assistanceis “non-recoverable”.
Xbox hopes the plan will remove long-standing barriers to entry and normalize the variety of storylines and characters in games. Xbox also said it will seek to support creators and developers from minorities, the LGBTQ+ community and people with disabilities as it further prioritizes its accessibility efforts.
The program also comes as Xbox celebrates 100 emerging indie developers offsetting their porting costs, helping them bring their projects to Xbox and other consoles.