Author Archives
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China Maintains Lending Rates Amidst Economic Challenges And Speculations Of Future Easing
China’s decision to hold its benchmark lending rates steady at Tuesday’s monthly fixing was in line with market expectations. The one-year loan prime rate (LPR) remains at 3.35%, while the five-year LPR is maintained at 3.85%. This stability follows a… Read More ›
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Tether Plans New Stablecoin Pegged To UAE Dirham To Enhance Gulf Currency Options
Cryptocurrency company Tether announced on Wednesday its intention to introduce a new stablecoin pegged to the United Arab Emirates (UAE) dirham, aiming to cater to growing demand for Gulf currencies and diversify beyond the U.S. dollar. This move reflects Tether’s… Read More ›
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China’s Shift In Refinery Focus Drives Decline In Gasoline Exports, Boosts Jet Fuel Production
China’s gasoline exports experienced a significant decline of 35.7% in July compared to the previous year, as refiners reduced crude runs and scaled back shipments amid weakening profit margins. According to customs data released on Sunday, gasoline exports stood at… Read More ›
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Hedge Funds And Investment Banks Diverge In Crypto ETF Strategies Amid Market Volatility
As the cryptocurrency market evolves, hedge funds and investment banks are taking markedly different approaches to crypto exchange-traded funds (ETFs). Following the U.S. Securities and Exchange Commission’s (SEC) approval of bitcoin ETFs in January, traditional financial institutions have gradually entered… Read More ›
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Calls Intensify For Meta To Strengthen Child Protection Measures On Whatsapp
The Internet Watch Foundation (IWF) has raised concerns over the spread of child sexual abuse imagery on WhatsApp, urging Meta to implement stronger safeguards to protect children. Despite existing mechanisms, the IWF argues that more needs to be done to… Read More ›
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North Korea Prepares To Revitalize Tourism Sector With New Developments In Samjiyon
As North Korea gears up to reopen its borders to international tourists, the country has been focusing on expanding its tourism infrastructure, particularly in the mountain city of Samjiyon near the Chinese border. Although the country has largely remained closed… Read More ›
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Revolut Secures $45 Billion Valuation Amid Strategic Advancements And New Banking License
British fintech startup Revolut has reached a significant milestone, achieving a valuation of $45 billion in a recent secondary share sale involving existing and new investors. The company’s valuation marks a substantial increase from the $33 billion it attained in… Read More ›
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Investors Seek Safety In Money Market And Government Bond Funds Amid U.S. Economic Uncertainty
Global investors showed a strong preference for lower-risk assets, focusing on money market and government bond funds in the week leading up to August 14, as they awaited clearer signals on the state of the U.S. economy. According to data… Read More ›
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Chinese Banks Receive New Gold Import Quotas Amid High Prices And Shifting Demand Dynamics
Several Chinese banks have recently been allocated new gold import quotas by the central bank, reflecting anticipation of a potential revival in demand despite current record-high prices, according to four sources familiar with the situation. These quotas, distributed in August,… Read More ›
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Chevron’s Anchor Project Advances Ultra-High Pressure Oil Extraction Technology
Chevron’s recent advancement in oil extraction technology could significantly expand access to previously unreachable crude oil reserves, potentially adding up to 5 billion barrels to global production, analysts suggest. On Monday, Chevron announced the successful commencement of oil production from… Read More ›
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