The proposal for utilizing future interest on frozen Russian assets to aid Ukraine is gaining momentum among the Group of Seven nations. This strategy aims to provide a steady stream of funding for Ukraine by collateralizing the interest earned on the frozen Russian assets. However, there are still contentious issues within the G7 regarding certain
Economy
The European markets have been experiencing strong business activity indicators, leading to a rise in the value of the euro above $1.07. This positive trend has been encouraging for investors, displaying a promising outlook for the region’s economy. The increase in business activity suggests a growing and thriving market environment, which could attract more investment
The recent fluctuations in global currency markets have had a significant impact on the value of the US dollar compared to other major currencies such as the euro and sterling. Despite a series of robust European activity data releases, the dollar has taken a hit due to a cooling in US business growth. The dollar
German Chancellor Olaf Scholz and Finance Minister Christian Lindner have recently expressed doubts about the reform of Germany’s debt brake. The debt brake, which limits public deficits to 0.35% of GDP, is a hot topic of discussion among politicians, with some calling for adjustments to the system. Challenges Ahead for Reform Scholz stated that he
As U.S. stocks gear up for a positive open on Tuesday, investors are closely monitoring the performance of mega-cap growth stocks and chip stocks. Companies like Meta Platforms, Microsoft, and Amazon.com have shown marginal gains in premarket trading, setting a positive tone for the market. Additionally, tech majors such as Tesla, scheduled to report their
The once promising business prospects in China that Western financial firms eagerly pursued are now fading away. The economic uncertainty in China has caused many companies to rethink their expansion plans and talent recruitment strategies in the region. Firms like Fidelity International Ltd, Morgan Stanley, and Legal & General have started cutting China-focused jobs and
China’s data-driven quant trading funds are rapidly expanding overseas as competition intensifies domestically and regulators tighten their scrutiny over the $260 billion sector. Meridian & Saturn Capital (MS Capital) from Shanghai and Singapore have started offering their China strategy to offshore investors, while also preparing to invest in global markets. DH Fund Management recently set
The steel industry in China is currently facing significant challenges, primarily driven by decreasing local demand. Steel consumption in China is expected to shrink for the second year in a row due to a prolonged property crisis and slowing infrastructure growth. The China Metallurgical Industry Planning and Research Institute forecasts a 1.7% drop in steel
In recent news, Taiwan’s defence ministry announced that it will be engaging in discussions with the United States regarding the allocation of funding for the island. This funding is part of a $95 billion legislative package, primarily aimed at providing security assistance to Ukraine and Israel. Despite lacking formal diplomatic ties, the United States remains
The Republican-controlled U.S. House of Representatives is gearing up to vote on a $95 billion legislative package this weekend. This package is set to provide security assistance to Ukraine, Israel, and Taiwan, despite facing resistance from some party hardliners. The bill includes a significant amount of funding for Ukraine, as well as assistance for allies
Following heavy rains and severe flooding in the United Arab Emirates, Emirates and flydubai have announced the restoration of normal operations. The flagship carrier, Emirates, had to cancel nearly 400 flights and experienced extensive delays due to a record storm that hit the desert city of Dubai earlier in the week. The airlines were heavily
Social media platform X has taken a bold stance by announcing its intention to challenge an order from an Australian regulator that demands the removal of certain posts related to the stabbing of a bishop in Sydney. The incident involved a 16-year-old boy being charged with a terrorism offense for allegedly stabbing Bishop Mar Mari