National Economic Council

The US administration stepped in on Sunday with a series of emergency measures to shore up confidence in the banking system after the failure of Silicon Valley Bank threatened to trigger a wider systemic crisis.

Tim Wu, top advisor to the Biden administration on technology and competition policy, holds more than million in cryptocurrency, shows a recently filed financial disclosure. The antitrust expert, who is known as a prominent big tech critic, has in the past questioned the value of bitcoin.

Larry Kudlow will take the job of top economic advisor to President Donald Trump, replacing Gary Cohn.

On Wednesday, Kudlow and the White House confirmed the economist and senior CNBC contributor accepted the post of National Economic Council director. The president offered Kudlow the job on Tuesday night after other conversations between the pair on Sunday and Monday.

Donald Trump's Chief Economic Adviser, Gary Cohn, Director of the National Economic Council, resigned, reported AFP and Reuters.

Cohn was firmly opposed to the President's decision to impose import duties on steel and aluminum. He tried to dissuade Trump from his intention, but the head of state confirmed yesterday that he would impose the duties in the coming days, AP notes.

Bulgarian Deputy Prime Minister Tomislav Donchev has told an Israeli economic official that Sofia deems the Middle Eastern country a potential source of gas supplies.

A National Economic Council will advise Bulgaria's Council of Ministers on determining and implementing the country's economic policy.

According to the press office of the government, the new Council will analyze and propose measures to support innovations and investment activities aimed at boosting the competitiveness of Bulgaria's economy.