The Biden administration's tax enforcement proposal would require that cryptocurrency transfers over $10,000 be reported to the Internal Revenue Service and would more than double the IRS workforce over a decade, the U.S. Treasury said on Thursday.
By Reuters Staff
2 Min Read
PRAGUE, May 6 (Reuters) - Czech lender Komercni Banka on Thursday posted a smaller-than-expected 25% year-on-year drop in first-quarter net profit, buoyed by higher financial operations earnings while interest income sagged and loan provisioning rose.
The bank, the third largest in the Czech Republic, said it expected banking revenue to stagnate in the full-year 2021 amid a low interest rate environment, although fees and commissions income should rebound as economic activity improves and the COVID-19 pandemic eases.
It also expected a rise in profit from financial operations after posting its best quarterly result in this area in almost three years, with a 70% rise as hedging gained amid expectations the Czech National Bank could be among the first in Europe to raise interest rates later this year.
By Reuters Staff
1 Min Read
May 5 (Reuters) - The U.S. Treasury Department said on Wednesday it will keep its coupon issuance steady over the coming quarter, and that declines in outstanding Treasury bills should slow.
The Treasury said it will sell $58 billion in three-year notes next week as well as $41 billion in 10-year notes and $27 billion in 30-year bonds, unchanged from last quarter. Any shifts in borrowing needs will be met with changes in its issuance of Treasury bills and cash management bills, it added.
The Treasury also said it expects Congress to raise or suspend the U.S. debt limit in a timely manner, and that it may take certain extraordinary measures if Congress does not.
By Reuters Staff
1 Min Read
PRAGUE (Reuters) - Macquarie Asset Management funds have sold Czech telecoms and technology infrastructure group Ceske Radiokomunikace to Cordiant Digital Infrastructure, Macquarie said on Tuesday.
Terms of the deal for Ceske Radiokomunikace, which operates 660 telecommunications towers and 3,730 km (2,318 miles) of fibre, were not disclosed.
Macquarie funds entered Ceske Radiokomunikace in 2011.
Cordiant said it aimed to continue building the group as a leading digital infrastructure platform.
“Ceske Radiokomunikace is a national champion with an unrivalled portfolio of assets in a core European country,” Cordiant Chairman Steven Marshall said in a joint news release.
Reporting by Jason Hovet, editing by Louise Heavens
3 Min Read
MOSCOW, April 27 (Reuters) - Russian oil exporters may suspend supplies to Belarus’s Naftan refinery after the United States tightened sanctions on Belarus over alleged human rights violations and abuses, four sources familiar with the matter told Reuters.
Washington last week revoked authorisations for certain U.S. transactions with nine sanctioned Belarusian state-owned enterprises, including Naftan and its owner Belneftekhim.
While not directly affected by the move, Russian companies are concerned they could be penalised if they continue dealing with the Belarusian businesses.
Apart from loans, Russia supports its neighbour and fellow former member of the Soviet Union with oil supplies on beneficial terms.