China’s Economic Recovery Loses Steam in May as Growth Slows Down
China’s economy showed signs of weakening in May as the growth of industrial output and retail sales slowed down, according to official data released on Wednesday. The slowdown puts pressure on the government and the central bank to step up stimulus measures to support the recovery. The data came after the People’s Bank of China […]
Binance US Faces SEC Asset Freeze: What It Means for Crypto Investors
The US Securities and Exchange Commission (SEC) has filed a lawsuit against Binance.US, the American affiliate of the world’s largest crypto exchange Binance, and its founder Changpeng Zhao (CZ), accusing them of violating US securities laws and putting customer funds at risk. The SEC is seeking to freeze billions of dollars of assets on the […]
How Turks Are Using Tether to Protect Their Wealth from Hyperinflation
Turks are flocking to stablecoins like tether (USDT) as their national currency, the lira, continues to lose value against the U.S. dollar. The lira hit a record low after the central bank stopped intervening in the foreign exchange market following the reelection of President Erdogan. In this article, we will explore why Turks are choosing […]
Why China’s Stock Market Is Losing Its Shine
China’s stock market was once the darling of Wall Street, with investors betting on a speedy recovery from the pandemic and a booming economy. But after a $1.5 trillion rout that wiped out almost 20% of its value, the outlook has turned gloomy. In this blog post, we’ll explore some of the reasons behind China’s […]
Thailand’s cannabis lovers face comedown amid legalization U-turn
Bangkok, Thailand – On Thailand’s Ganja TV, cannabis enthusiasts have followed the drug’s swift journey from banned narcotic, to legal plant for medicinal use, to recreational high. Now, one year after Thailand decriminalized cannabis, the Facebook page’s 90,000-odd followers are looking on bemused as rival politicians threaten to make dispensaries and open consumption illegal once more – […]
Aston Martin axes mid-engine Ferrari 296 GTB rival
Aston Martin has announced that it will no longer develop a mainstream mid-engined supercar to rival the Ferrari 296 GTB. Instead, the company will focus on producing limited-run halo models, such as the Valkyrie and Valhalla. The decision comes as Aston Martin looks to focus on profitability and exclusivity. The company’s chairman, Lawrence Stroll, said […]
Pakistan Needs Convincing Budget to Secure IMF Funding
Pakistan is facing a major economic crisis, with inflation at a record high and currency reserves at a critical level. The country is in the final stages of an IMF bailout program, but there is only one more review left before the program expires. In order to secure the final review, the IMF has set […]
Hyundai Reviews Russia Plant After Sales Reports in Kazakhstan
South Korean automaker says it is considering ‘various options’ for the Saint Petersburg factory. Hyundai Motor says it is considering “various options” for its suspended factory in Russia, following a report that the South Korean automaker is discussing the plant’s sale to a Kazakhstan company. Hyundai, South Korea’s third-largest conglomerate, said on Friday it had […]
iPhone Maker Plans $700 Million India Plant in Shift from China
Apple Inc. partner Foxconn Technology Group plans to invest about $700 million on a new plant in India to ramp up local production, people familiar with the matter said, underscoring an accelerating shift of manufacturing away from China as Washington-Beijing tensions grow. The Taiwanese company, also known for its flagship unit Hon Hai Precision Industry […]
Tata Group’s Talks Over $1 Billion Bisleri Stake Stall
Tata Group’s talks for a majority stake in Bisleri International Pvt, one of India’s largest bottled water makers, have stalled overvaluation, according to people familiar with the matter. The Indian conglomerate had been in advanced discussions to take control of Bisleri and the parties were working on finalizing the structure of a transaction, the people […]