On Thursday (July 20), the US Federal Reserve made available a new transfer tool similar to Brazil’s
In the Around the World segment, the team from Power360 summarizes the most important international facts of the last week (07/20/2023 to 07/21/2023).
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RUSSIA ABANDONS AGREEMENT ON GRAIN EXPORTS FROM UKRAINE
On Monday (July 17) Russia withdrew from the grain export agreement with Ukraine. According to the Kremlin, the country is demanding more flexibility when exporting its own agricultural products and fertilizers.
The treaty was signed in July 2022 and aimed to prevent a global food crisis. The deal enabled the reopening of southern Ukrainian ports occupied by the Russian army, freeing up the inflow of tons of Ukrainian grain.
The measure was brokered by the United Nations (UN) and Turkey and has been extended three times since July 2022.
After withdrawing from the agreement, Russia attacked the Ukrainian port of Odessa on the Black Sea on Monday night (July 17) and early Wednesday (July 19), where the grain is exported. Several houses and port buildings were damaged.
The British Parliament passes an antiimmigration law
On Tuesday (July 18) the UK Parliament passed antiimmigration legislation. The bill will oblige the government to arrest and deport anyone entering the UK illegally.
The law was introduced by British Prime Minister Rishi Sunak in March. Now the project of King Charles III. be approved.
UN SECRETARY WARNED OF “SERIOUS CONSEQUENCES” OF AI USE
Also on Tuesday, UN SecretaryGeneral António Guterres warned of the potential risks of using artificial intelligence.
In a speech to the organization’s Security Council, Guterres said AI tools were being used to “undermine elections, spread conspiracy theories and incite hatred and violence.”
The representative also called for the technology to be urgently discussed by all countries.
FED LAUNCHES PIXLIKE PAYMENTS SYSTEM
On Thursday (July 20), the United States Federal Reserve launched fednow, an instant bank transfer system similar to Brazil’s pix. The tool allows users to make payments any time of the day, seven days a week. The transaction limit is $500,000
The service will initially be available at 35 participating banks and credit unions. The aim is for more institutions to become part of the system by the end of the year.
The current system allowed US citizens to make transfers Monday through Friday only and not have the money available at the same time.