Finance
Americas
US Stocks Plummet Amid Recession Fears
US stocks experienced a significant decline on Monday, with the S&P 500 trading 2.5% lower and the Nasdaq Composite falling into correction territory, down more than 10% from its record high on July 10. The selloff was driven by fears of a potential recession in the world's largest economy, as investors reacted to disappointing employment data and concerns...
Why Coinbase's Trading Debut Is a Cryptocurrency Coming-Out Party
#styln-signup .styln-signup-wrapper { max-width: calc(100% - 40px); width: 600px; margin: 20px auto; padding-bottom: 20px; border-bottom: 1px solid #e2e2e2; } SAN FRANCISCO — Digital currency, once mocked as a tool for criminals and reckless speculators, is sliding into the mainstream.Traditional banks are helping investors...
How to Use Technology to Prepare for Travel During the Coronavirus Pandemic
Even as vaccines make it safer to travel, planning a trip is becoming increasingly complicated.With coronavirus vaccines now readily available, you might have ambitions to venture far from home. Government officials, after all, say traveling is a low-risk activity for the inoculated.But the sheer amount of preparation needed to travel during the pandemic...
With Earnings Soaring, Wall Street Banks See Economic Boom Ahead
The banks said they released large chunks of money that had been set aside to cushion themselves from losses caused by the pandemic. #styln-signup .styln-signup-wrapper { max-width: calc(100% - 40px); width: 600px; margin: 20px auto; padding-bottom: 20px; border-bottom: 1px solid #e2e2e2; } The mood on Wall Street is decidedly...
The Biden Administration Is Quietly Keeping Tabs on Inflation
A monthslong effort to monitor and model economic trends inside the White House and the Treasury Department found little risk of prices spiraling upward faster than the Fed can manage.WASHINGTON — Even before President Biden took office, some of his closest aides were focused on a question that risked derailing his economic agenda: Would his plans...
Asia Pacific
Asia-Pacific Markets Downturn as Bank of Japan (BOJ) Begins Policy Meeting
Tuesday July 30th, 2024Asia-Pacific markets are experiencing a downturn as the Bank of Japan (BOJ) begins its two-day monetary policy meeting. This meeting is drawing significant attention from investors and economists alike, as it could potentially mark a shift in Japan's monetary policy. The BOJ is expected to raise its benchmark interest rate to...
Asia’s air bridges and travel bubbles will expand only slowly
MORE THAN a year after they shut their borders, Australia and New Zealand will soon have a go at quarantine-free travel. From April 19th residents of the two countries can fly across the Tasman Sea to do business, see family and friends—or just revel in the novelty of holidaying in another country. The trans-Tasman bubble is not the first between...
Bhutan vaccinated almost all adults against covid-19 in a week
WHEN INDIA presented Bhutan with a generous gift of covid-19 vaccines in January, the neighbouring kingdom made an unusual choice. Rather than rush to inoculate all 800,000 of its citizens, the government sought advice from the Zhung Dratshang, a body of Buddhist monks. The stars were not auspicious, they ruled. Better to wait two months, and then to...
Thailand’s democracy protests are dwindling
LAST SUMMER, despite the tropical heat and humidity, more than 10,000 mostly young protesters paraded repeatedly through central Bangkok. The protests had a carnival atmosphere. Students dressed as Harry Potter, the better to vanquish He-Who-Must-Not-Be-Named (King Maha Vajiralongkorn); held aloft giant yellow ducks (a symbol popular with democracy...
Another species harmed by climate change: Japanese poets
“HOW MANY, many things/they call to mind/these cherry blossoms!” the poet Basho once wrote of Japan’s favourite flower. The blossoms have long provoked reflections on beauty, transience and the unceasing rhythms of the natural world. This year, their annual appearance has many thinking about how those rhythms are changing. The cherry trees in...
Europe
Transforming Anti-Money Laundering and Counter-Terrorist Financing: The UK Government's Proposed New Models
In the complex and ever-evolving landscape of financial crime prevention, the UK government is poised to unveil a paradigm-shifting approach to Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) measures. Jake Robson delves into the intricacies of the proposed AML/CTF models. We'll explore the context behind these changes, the key...
Manufacturing activity slipped to a 31-month low in December
December's manufacturing Purchasing Managers’ Index (PMI) fell to a 31-month low, continuing the sector's poor performance. Input shortages and a significant fall in new orders contributed to the decline in activity. With activity data for other sectors having been persistently weak, it appears likely that GDP fell again in Q4 2022. The survey...
Rebel alliance: How Bernie Sanders' unlikely rise, the Greek mini-rebellion and crazy Donald Trump (!?) have fueled the climate of resistance
Bernie and the Donald have electrified a tedious campaign, and Greece has rocked Europe to its core. What next?Read More
What can we learn from the Greek defeat? The global struggle against austerity reaches the screen
Angela Merkel and the bankers crushed Syriza and drove Portugal into poverty -- but the fight is far from overRead More
Europe wants Greece to suffer: The truth about the never-ending financial crisis & the cult of extreme austerity
Greece's financial nightmare has lasted five years now. There's no sign of real relief—for a very specific reasonRead More
Mena
Qashio has joined forces with global payments giant Visa
Qashio, a Dubai-based provider of spend management solutions, has joined forces with global payments giant Visa to launch an innovative B2B travel payments solution. The partnership, announced on January 6, 2025, aims to transform and digitize payments for online travel agencies and travel management companies across the UAE, Middle East and North Africa...
Khalifa Haftar is losing ground and lashing out in Libya
KHALIFA HAFTAR’S self-styled Libyan National Army (LNA) says it will cease fire for what remains of the holy month of Ramadan. But friends of General Haftar say he is doubling down on the civil war he started six years ago. His year-long siege of Tripoli, seat of the UN-backed Government of National Accord (GNA), has intensified of late. Groups loyal...
Saudi Arabia stops flogging
“THE FORNICATRESS and the fornicator—flog each of them with a hundred stripes; and do not let pity for them hold you back from carrying out God’s law.” So says the Koran, which dates back to the seventh century. Prince Muhammad bin Salman, the de facto ruler of Saudi Arabia, is trying to drag the kingdom into the 21st. So on April 25th the government...
Zambia was already a case study in how not to run an economy
“I FEEL YOUR PAIN,” said Edgar Lungu in a televised address on April 24th. The president of Zambia claimed that covid-19 had “thrown into disarray” the country’s finances. He mused about whether the government could afford to pay for pensions, civil-service salaries and medicine. “Where will the money come from?” It is a good question....
How Sudan’s warlords buy their gun trucks
THE TOYOTA HILUX is a sturdy vehicle. That makes it especially popular in Africa. It outsells all other pickup trucks, or “bakkies”, in South Africa. In Mali and Niger smugglers transporting people and goods across the Sahara will accept no alternative, since they can cram 30 people onto one and can still climb a sand dune. It is also a familiar...
International
Unlocking the Future: The Transformative Potential of Synthetic Data in the Financial Services Industry
In the ever-evolving landscape of the financial services industry, data reigns supreme. It is the lifeblood that drives decision-making, innovation, and competitiveness. We embark on a deep dive into the world of synthetic data and explore its transformative potential in the financial services sector. Synthetic data, often dubbed the "data of the future,"...
Argentina: Congress Passes New Law Requiring Congressional Approval for Public Debt
(Mar. 11, 2021) On March 3, 2021, Argentina’s Congress passed Law 27612 on Public Debt Sustainability, which provides that financing agreements with any international organization must be approved by law. The General Budget Law of the National Administration for each fiscal year is now required to provide a maximum percentage amount assigned to...
Italy: Workers’ Income, Wine and Textile Industries Part of 2021 Budget Focus
(Mar. 8, 2021) On December 30, 2020, Italy’s Parliament passed Law No. 178 approving the annual budget for fiscal year 2021 (January 1 to December 31). This vast legislation touches upon many aspects of the Italian government and society. This article provides a broad overview of certain important areas of this legislation. Appropriations to Tackle...
United Kingdom: Government Publishes Public Consultation on Environmental Impact of Commercial Spaceflight
(Mar. 2, 2021) On February 10, 2021, the United Kingdom’s government published a consultation (survey) seeking the public’s opinion about the environmental objectives the U.K.’s spaceflight regulator must consider when determining whether to grant a spaceport or launch operator license, along with guidance on how the regulator must...
Brazil: Chamber of Deputies Approves Autonomy of Brazilian Central Bank
(Mar. 2, 2021) On February 10, 2021, the Brazilian Chamber of Deputies approved Draft Law No. 19/2019, which grants autonomy to the Brazilian Central Bank (Banco Central do Brasil). The law defines the period for the mandates of the president and directors of the Central Bank, which must not coincide with that of the president […]Read More