Sentences with phrase «agios petros»

Just this week, Venezuela launched a new cryptocurrency called the petro, which is supposedly backed by the South American country's oil reserves.

Juerg Kiener, managing director and chief investment officer of asset manager Swiss Asia Capital, told CNBC that the petro - yuan is «well - advanced» and already «structurally in place.»

He also claimed about 100 million petro tokens would be issued — estimated to be worth around $ 6 billion.

At the start of the year, the U.S. Treasury Department warned traders against investing in the petro.

«In some ways I think this further validates cryptocurrencies but at the same time there are a tremendous number of questions around the petro,» Garrick Hileman, a cryptocurrency researcher at the University of Cambridge, told CNBC Tuesday.

More questions than answers for the petro at this stage,» he added.

Another potential problem for Venezuela's petro plans is the initial issuance of the token will be backed by crude in the Orinoco heavy oil belt in the east of the country.

The launch of the bitcoin-esque cryptocurrency, called the petro, is viewed by many onlookers as a somewhat desperate attempt to secure cash amid an unprecedented economic meltdown.

Harry Colvin, director and senior economist at Longview Economics, told CNBC ahead of the petro's launch that he was «doubtful» the introduction of the world's first state - backed cryptocurrency would be a success.

The United Arab Emirates and Qatar, on the other hand, are governed by petro - monarchies (substitute «authoritarian - capitalist regimes» for China, which has been on a fancy - airport - building tear) with seemingly limitless capital to pamper American plutocrats bearing golf - course plans.

Nicolas Maduro said on Twitter that Venezuela's petro token raised more than 4.777 billion Chinese yuan, or $ 735 million.

Venezuela's oil - backed «petro» cryptocurrency raised $ 735 million in the first day of its pre-sale Tuesday, President Nicolas Maduro has claimed.

Caracas said that each unit of the petro is pegged to the price of one barrel of Venezuelan oil.

The country's cryptocurrency regulator has said it hopes the petro will draw investment from Qatar, Turkey and other Middle Eastern countries, as well as from European nations and the U.S.

Each unit of the petro is pegged to the price of one barrel of Venezuelan oil, according to Caracas.

His firm's latest investment is in Petros Pace Finance, which specializes in financing commercial properties that want to reduce their carbon footprint.

Many such experts say the disasters in the sprawling suburban and petro - industrial landscape around Houston and along the crowded coasts of Florida reinforce the urgent idea that resilient infrastructure is needed more than ever, particularly as human - driven climate change helps drive extreme weather.

Maduro has said he plans to offer a total of 100 million Petros, with a starting price of $ 60 each, for a total of about $ 6 billion.

Martin said Class 2 assessments are used in cases of larger projects, such as the building of a petro - chemical plant or pulp mill.

The geopolitical implications are staggering, from undermining the influence of petro - states like Russia to curtailing western interests in the volatile Middle East.

«I gave the order to the company PDVSA, Pequiven and CVG to realize as of today a percentage of their sales and purchases in... the Petro,» Maduro said (according to a rough translation) during the petro pre-sale announcement.

According to a recording posted on Twitter by television network VTV, Venezuelan President Nicolas Maduro has ordered several state - owned companies to convert a percentage of their sales and purchases into the petro.

Just one day after the commencement of the controversial petro pre-sale, Maduro made waves once again, announcing that he plans to unveil a second cryptocurrency next week: the petro gold.

A Russian Finance Ministry official has stated that Venezuela will not pay off its $ 3.5 billion debt using the petro.

«Next week I'm going to launch the petro gold, backed by gold, which is even more powerful, that will strengthen the petro,» Vice quoted Maduro as saying in a Wednesday speech.

Venezuela on Tuesday launched a pre-sale of the commodity - backed «petro» cryptocurrency, according to CNBC.

A day after the presale of Venezuela's oil - backed cryptocurrency began, the president announced another digital asset: the gold - backed petro oro.

Russia may allow Venezuela to purchase auto parts from a domestic manufacturer using its controversial state digital currency, the petro.

Prominent figures of other governments, including those of Russia, Israel, China, and Venezuela, have floated the idea of a national digital currency, though some Venezuelan parliamentarians have opposed the «petro's» issuance.

The Petros are set to live on a blockchain like the one Bitcoin uses, but will derive their value from the government's natural resources.

President Nicolás Maduro recently said that Venezuela will hold the presale for its oil - backed, state - issued cryptocurrency, the petro, on February 20, and that the government will distribute mining equipment to universities, savings banks, and other institutions.

Venezuela President Nicolas Maduro's aim with the digital «petro» currency is to make financial transactions and circumvent sanctions placed by other Western countries including the U.S..

Since the initial announcement of plans for a state - issued cryptocurrency, various details of the petro project have appeared to change without any official explanation.

Rather than an oil ETF, with our longer view, we prefer ETFs that invests in oil producers who naturally have exposure to WTI, Brent and other petro sources and pay dividends.

How did Norwegians get so petro - smart?

On Monday, President Trump signed an executive order prohibiting American usage of or investment in the petro.

Today's executive order almost explicitly targets the petro, an oil - backed cryptocurrency tied to Petróleos de Venezuela, S.A. (PDVSA), a Venezuelan state - owned oil and natural gas company.

He also declared in a barrage of tweets that cryptocurrencies, including the petro, will be accepted by national tourism operators, gas stations, and for consular services.

Cryptocurrencies have become so fashionable that even President Nicolas Maduro has proposed a government - backed version called the petro, and members of his administration have met with Venezuelan bitcoin entrepreneurs to determine how it might work.

In January 2018, the opposition - led Venezuelan parliament invalidated the petro, calling it an illegal attempt to mortgage the country's oil reserves.

President Nicolas Maduro recently announced that Venezuela is launching a national digital currency called the petro, similar to bitcoin.

CARACAS Venezuela is preparing a new cryptocurrency called «petro gold» that will be backed by precious metals, President Nicolas Maduro said on Wednesday, a day after launching an oil - backed token that has been panned as a pipe dream by blockchain experts.

The guidance occurred on the same day that President Trump issued an executive order sanctioning the Venezuelan petro cryptocurrency.

Last in a series on Norway's petro - policies and lessons here.

At the time, the petro network had not yet launched — and it appears that the network still has not gone live.

A top petro engineer for wealthy Norway says Canada is «a fantastic country» that's «totally mismanaged by design.»

Forty years ago petro giants called Norwegians» demands crazy.

Backers of the petro could be viewed as extending a line of credit to the Venezuelan government, said a spokesperson who went on to state, «The Venezuelan petro currency could therefore expose US persons to legal risk.»

There is an overriding belief that the U.S. dollar can hold onto its status as the world's king reserve currency simply because of petro dollars.

Whatever impacts global emissions constraints hold for the country as a whole, they'll be much more significant for Alberta's petro - dominated provincial economy.