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EU eyes 3 bn euros a year for Ukraine from Russian asset tax
EU eyes 3 bn euros a year for Ukraine from Russian asset tax
by  AFP

The European Union could raise three billion euros a year for Ukraine's reconstruction by taxing the interest earned by Russian central bank assets frozen in the bloc, Belgium's prime minister said Friday. EU diplomats say that about 100 billion euros of the Russian central bank assets is in cash, earning roughly 3 percent, and that is what would be subject to the tax.

US Fed's favored inflation gauge declined sharply in May
US Fed's favored inflation gauge declined sharply in May
by  AFP

The US inflation measure most closely watched by the Federal Reserve declined sharply in May, official figures showed Friday, returning to a downward trend after a jump a month earlier. The personal consumption expenditures (PCE) index measure of inflation eased to 3.8 percent year-on-year in May, a significant drop from 4.3 percent a month earlier, the Commerce Department said in a statement.

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