Oil Extends Losses due to the Global Slowdown and the Possibility of Increased Supply
Oil fell for the third day. A deepening global slowdown appeared to coincide with a surge in supply from OPEC producers. West Texas Intermediate futures fell toward $88 a barrel after falling about 5% in the previous two sessions. Growing signs of an economic downturn filtered through markets on Monday. Bearish U.S. data, including cooling […]
European Parliament Rapporteur on the MiCA Crypto Law, Stefan Berger, Sells a Couple of Slides as NFT
“Freedom in a wallet” is how European Parliament Member Stefan Berger describes the non-fungible token (NFT) he is now selling in the Opensea. The NFT represents a pair of ‘Bergoletten’ slides. “The shoes symbolize the first step in every development,” says Berger. Berger invested efforts in making sure Europe’s upcoming crypto legislation gets the backing […]
US and Canada: Tesla Stopped Taking Orders for Long-Range Model 3
Tesla has made a significant move and has removed the possibility of ordering the Model 3 Long Range in the United States and Canada from its website. The Tesla Model 3 LR AWD is no longer available for order and appears dimmed at the bottom of the list with the notation “Available in 2023.” It […]
Thailand Economy Grows Slower than Estimated Amid Inflation Risk
The Thailand economy grew at a slower pace than economists estimated last quarter. The faster inflation in 14 years likely weighed on sentiment and offset gains from the return of foreign tourists. Gross domestic product rose 2.5% in April-June from a year earlier. The National Council for Economic and Social Development said on Monday. Below […]
PRs75 Commemorative Banknote Marks Nation’s Commitment to Addressing Climate Change
KARACHI: The State Bank of Pakistan (SBP) on Sunday issued a commemorative Rs75 note with not only the portraits of Quaid-i-Azam Mohammad Ali Jinnah, Allama Iqbal, Mohtarma Fatima Jinnah, and Sir Syed Ahmed Khan. It is to commemorate the country’s 75 years of independence. Note also highlighting the nation’s commitment to addressing climate change. The […]
Asia Best Currency is Driven by Tourists Arriving in Thailand
Thailand’s baht recovered so in recent weeks on optimism about the country’s tourism-driven growth. It has already hit analysts’ year-end targets. The currency rose 2.3% to around 35.45 per dollar this month, leading to gains in Asia by a wide margin. Besides the increased forecasts for tourist arrivals, the advance is also driving a shrinking […]
Will Apple’s Self-Driving Car Soon Become a Reality?
Any big automotive hire from Apple sparks renewed interest in the ongoing Apple car project. The latest presents as one of the most tangible signs. The iPhone maker still sees a future for itself in the auto industry. The last recruit, in May, was reportedly Luigi Taraborrelli, the former head of chassis and vehicle dynamics […]
Cryptocurrency trading, illegal investment in Iran, Central Bank Governor Reiterates
It is illegal to buy or sell cryptocurrencies in Iran. The head of the country’s monetary authority recently reminded citizens and businesses. The governor noted. But that mining cryptocurrencies and using them in payments for imports is not against the law in the Islamic Republic. Top Banker Confirms Cryptocurrency Trading Remains Illegal in Iran The […]
Chinese Tech Giant Huawei Releases H1 Financial Results
SHENZHEN – Chinese tech giant Huawei’s revenue reached 301.6 billion Yuan ($44.7 billion) in the first half of 2022. Revenue reached a net profit margin of 5 percent, according to the company’s semi-annual report released Friday. As for the company’s three core businesses, the revenue of the operator’s business reached 142.7 billion Yuan. The revenue […]
Malaysia GDP Growth to Quicken on Pent-Up Demand, Zafrul Claimed
Malaysia’s economic growth will speed up this quarter after expanding at the fastest pace in a year. The growth is driven by private consumption as activities resume, Finance Minister Zafrul Aziz said. “People are underestimating the strength of pent-up demand,” he said in an interview Saturday. “Restaurants are full, traffic jams have returned. The unemployment […]