IMF says Sri Lanka deal moves forward and needs guarantees from creditors
IMF says Sri Lanka deal moves forward and needs guarantees from creditors. The International Monetary Fund says, “Significant progress” has been made toward an aid program for Sri Lanka. It requires restoring debt sustainability and financing guarantees from the country’s creditors. It also requires “far-reaching” fiscal reforms. “Monetary, fiscal and other actions by the authorities […]
Virtual Currency is the “largest Ponzi Scheme in Human History”
The chairman of China’s Blockchain Services Network Development Alliance (BSN), Shan Zhiguang insisted. He and his colleague insisted in a recently published op-ed that virtual currency is “the largest Ponzi scheme in human history”. However, they have said that the “value of blockchain technology must not be ignored because of virtual currency.” Opinion piece claims […]
India’s Currency Dove urges slow hikes as rates approach neutrality
A dove of Indian monetary policy signals. It is time to abandon the aggressive pace of increases in borrowing costs. It says the inflation-adjusted real interest rate is approaching neutral ground. As a result, it will reach a level where it can help control inflation without stifling economic growth. Sticking to larger increases instead carries […]
Indonesia says Foxconn could invest in projects for the new capital
Indonesia said Foxconn Technology Group is considering investing in the country’s new capital. This move would bolster the $34 billion construction project. The Taiwanese company is considering establishment. They established an electric bus system and an Internet of Things network in Nusantara. Investment Minister Bahlil Lahadalia said in a statement on Sunday. Young Liu is […]
Three Charts show problems for Indian Stocks approaching a bear market
The rising inflation and the end of easy-money global policies cause Indian stocks to spiral down from all-time highs. This pain is unlikely to end anytime soon. The S&P BSE Sensex index has fallen more than 15% since its October high. It is approaching the 20% loss denoting a bear market. The sell-off comes due […]
IMF warns of risks of slowing Covid vaccination rates in China
The International Monetary Fund (IMF) called on China. The call is to speed up its coronavirus vaccination program. IMF gives a warning that the sharp slowdown in the pace of new doses administered. As a result, this administration could undermine the recovery in consumer spending in the economy. At the current rate, providing three doses […]
Shopify unveils new tools for e-commerce
Shopify Inc has launched new tools. New tools will help its merchants sell to other businesses. On Twitter, as the Canadian tech giant tries to shore up sales to counter a post-pandemic slowdown in online shopping. More than 100 new tools were unveiled on Wednesday. These tools include those supporting its plans to boost business-to-business. […]
Asian markets mostly lower ahead of the US holiday
Asian markets were mostly lower in cautious trading on Monday ahead of a federal holiday in the United States. It Concerns inflation and the risks of a global recession of the central bank’s efforts to rein in it. It appeared to outweigh Wall Street’s positive close on Friday. Stocks fell in most major markets but […]
Global food inflation gets reprieve as wheat to palm oil tumble
Agricultural commodities fell as traders weighed a better outlook for global food supplies. The supplies with signs pointing to Indonesia. It is for growing palm oil exports and a large harvest of Russian wheat this season. Palm oil plunged further into a bear market. Palm oil fell about 9% on Monday and another 1.8% on […]
China Scolds Sinopec after second Fatal Accident
Chinese regulators summoned Sinopec Group executives to a meeting on Monday. The meeting was held after the oil giant suffered its second fatal accident this month. Meeting said the episodes had “seriously affected people’s sense of safety.” Officials told Sinopec that the accidents “had a bad influence” on the public. Accidents did not meet the […]