Author Archives
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Relations With Specific Russian Banks To Be Cut By US If Ukraine Is Attacked – Reuters
According to three people familiar with the situation, President Joe Biden’s administration is preparing an initial package of penalties on Russia that includes prohibiting U.S. financial institutions from processing transactions for key Russian banks. The restrictions, which would only be… Read More ›
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Sri Lanka’s Growing Economic Crisis Shown By Dearth Of Suzuki Car Mirrors
Car spare parts stores in Colombo, Sri Lanka’s capital, are receiving a continuous stream of customers asking for side mirrors for Suzuki’s tiny Wagon R, which are quickly becoming a sought-after commodity in the island nation, said a report from… Read More ›
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OPEC+ Wants To Include Iran In Its Oil Production Agreement
Should an agreement be achieved on resurrecting Iran’s nuclear deal with world powers, OPEC+ will attempt to integrate Iran into its oil supply-limiting agreement, according to sources close to the organization, in order to avoid market share rivalry that may… Read More ›
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International Investors Are Buying Into Chinese Stocks More Than Local Investors
Even as local Chinese investors have chosen a cautious approach to bet on the mainland markets, international investors are investing heavily into the Chinese stock markets. According to a report from research firm EPFR Global, an inflow of $16.6 billion was seen into Chinese… Read More ›
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US Fed Sets Ball Rolling To Raise Rates And Shrink Balance Sheet Soon, Shows Minutes
Meeting expectations of the market and economists, the United States Federal Reserve set the ball rolling for a hike in interest rates and eliminating the trillions of dollars in bonds on the central bank balance sheet in the latest meeting… Read More ›
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China Has Added More Firms To A Trade Group Charged With Developing The Country’s Metaverse
A Chinese industry group that was created with the aim of expanding the country’s metaverse applications has added a new set of firms to the body so that it can more aggressively pursue its aim of catching up on the… Read More ›
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Airbnb Notes City Travel Reaching Almost Pre-Pandemic Levels
Travelers are beginning to return to cities after being absent since the Covid-19 pandemic began, according to Airbnb, the leading online housing booking company in the world. According to the hotel website, the number of nights booked in cities in the latter… Read More ›
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UK’s Tax Authorities Seize NFTs For First Time In A £1.4m Fraud Case
The UK tax office has seized three Non-Fungible Tokens (NFT) as part of an investigation into an alleged VAT fraud involving 250 fictitious companies. According to HMRC, three people have been arrested on suspicion of attempting to defraud HMRC of… Read More ›
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India’s Largest Insurer Life Insurance Corporation Files For $8 Billion IPO
India’s state-run insurance firm Life Insurance Corporation of India (LIC) is set to launch an initial public offering of $8 billion against a 5 per cent stake of the company and it has filed draft papers for the same with… Read More ›
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Record Revenue Posted By China’s Biggest Chipmaker SMIC Despite U.S. Sanctions
Despite a global chip scarcity, China’s largest chipmaker, Semiconductor Manufacturing International Corporation, recorded record revenue and profit last year. SMIC’s sale for 2021 was $5.44 billion, up 39 per cent year over year, the greatest rate of increase since 2010…. Read More ›
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