Centimillionaires, individuals with a total net worth surpassing $100 million, represent a minuscule fraction of the global population, standing at around 28,420 individuals. This exclusive group is primarily concentrated in major financial hubs such as New York City, the Bay Area, Los Angeles, London, and Beijing. According to Kevin Teng, CEO of WRISE Wealth Management
The gold price seems to be trading softer near $2,385 on Monday, with a consistent hawkish shift in market sentiment. This change in sentiment could potentially dampen the demand for the yellow metal, as investors may turn to other options in light of the Federal Reserve’s hawkish comments. While the escalating tensions in the Middle
Australia heavily relies on China for its exports, with one-third of its exports going to Chinese markets. This dependence on Chinese trade plays a significant role in the Australian economy, with around 20% of the workforce in trade-related jobs. Any changes in trade terms with China could have a direct impact on job creation and
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
As we head into a new week, it is crucial to keep a close eye on various market indicators. The Research Team emphasizes the importance of monitoring not only the 2-year and 10-year UST yields but also the US Dollar Index and energy markets, specifically oil and gold. These indicators can give us valuable insights
Economic indicators play a crucial role in shaping investor sentiment and influencing trading decisions in the financial markets. In particular, the USD/JPY currency pair is closely watched by traders, with various indicators impacting its price movements. Let’s delve into how key economic indicators are expected to affect USD/JPY trading in the upcoming week. Economists are
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 CEO of VanEck, Jan van Eck, recently highlighted the importance of considering commodities as an investment option due to a “big change” driven by international expansion. According to van Eck, the world economy is experiencing growth once again, with China playing a significant role in this expansion. He pointed out that China, the world’s
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
The International Monetary Fund (IMF) Managing Director, Kristalina Georgieva, emphasized the pressing need to address the challenges faced by low-income countries during a recent meeting with shareholders. According to reports from the IMF and the World Bank, many low-income developing countries are grappling with unsustainable debt burdens and economic instability due to the lingering impacts