Asia Stocks Rise Higher Since 2020 as China Eases Some Covid Rules
Asia’s stock benchmark rose to the highest since March 2020 as China’s move to ease some Covid rules supercharged a rally triggered by weaker US inflation. The MSCI Asia Pacific index rose as much as 4.6%, also on track for its best weekly gain since March 2020. Hong Kong’s benchmark index rose more than 7% […]
Hacker Demands $10 Million to Stop Leaking Australians’ Medical Records
A cyber extortionist has demanded nearly $10 million to stop leaking the medical records of Australians caught in one of the country’s worst cyber-attacks. In a message posted on the dark web on Thursday morning, the hacker said he was demanding $1 from Medibank, Australia’s largest private health insurer, for every one of the 9.7 […]
Central Bank of India Initiates Digital Currency Pilot Program
India’s central bank began a pilot program of its digital currency on Tuesday, allowing selected banks to use it to settle secondary market transactions in government securities. Several bundles of bonds were traded, with data from Clearing Corp. of India Ltd. showing that 7.38% of 2027 debt and 7.26% of 2032 bonds were among the […]
IMF Forecasts $1 Trillion Windfall For Oil Exporters, Higher Savings in Gulf
The International Monetary Fund expects energy exporters in the Middle East and Central Asia to make a cumulative windfall of around $1 trillion during 2022-2026, a bonanza that will contribute greatly to the Gulf Arab economies because they will save much more of their oil revenues. The influx of petrodollars would be higher than projected […]
Bitcoin’s Hold Above $20,000 Gives Bulls Hope For a Lasting Rally
Bitcoin’s four-day streak above $20,000 has strengthened cryptocurrency traders. They have bet the token should resurface after a brutal year. On Tuesday, the largest cryptocurrency by market value advanced above $20,000. And as of Friday morning in New York, it had yet to fall below that threshold. The breakout marked the end of a nearly […]
New Delhi Gives Itself Power Over Social Media Content Moderation
The Indian government has announced changes to its information technology rules. All rules that will apply to social media companies are a move that is likely seen as holding back big tech companies. It would be under the amended rules. It was announced on Friday. A government panel will be formed to hear user complaints. […]
Elon Musk Takes Over Twitter in $44 Billion Deal
Elon Musk has officially taken control of Twitter after finalizing a $44 billion deal to buy the social network. In one of his first decisions at the helm of the social media giant, Musk, the world’s richest man, fired three top executives, including CEO Parag Agrawal, several U.S.-based media outlets reported Thursday, citing people familiar […]
Hiring in China’s Small Businesses Doesn’t Pick Up From Record Low
Hiring activities for China’s smallest companies were near a record low last month, underscoring how the slump due to a property recession and Covid Zero controls is affecting companies that are the backbone of the economy. The Blue Collar employment index for small and medium-sized enterprises, which are mainly in manufacturing and services, showed little […]
Japanese Gaming Giant Sega to Launch First Blockchain Game
Sega to Launch First Blockchain Gaming Project Sega, one of the most influential Japan-based gaming companies, has announced that it will build its first blockchain-based game. The project, which will be built by another game company, Double Jump Tokyo, will be based on the Sangokushi Taisen franchise, a popular arcade game in Japan. The Sangokushi […]
How Pakistan’s Most Feared Power Broker Controlled a Violent Megacity From London
The hunger strikers had been sitting for six hot days outside the Karachi Press Club, sheltering under a canvas tent as fans blew the sticky summer air. The Pile of Victorian sandstone in the heart of Pakistan’s commercial capital was an easy place to get media coverage, with some organizations or others holding a demonstration […]