Economy

Billionaire investor Kenneth Griffin recently spoke out against the turmoil on college campuses, specifically targeting his alma mater, Harvard University. In an interview with the Financial Times, Griffin emphasized the importance of embracing “Western values” in education. He expressed his concern that the U.S. has veered away from the core principles of pursuing truth and

U.S. Senator Elizabeth Warren has been vocal this week in her call for the Treasury Department to address racial discrimination in the U.S. tax and banking systems more swiftly. The Treasury Advisory Committee on Racial Equity (TACRE), which was set up in December 2022, has made over 40 recommendations to date. However, Warren expressed concerns

Oversea-Chinese Banking Corp (OCBC) recently reported a 5% increase in first-quarter profit, exceeding market expectations. In addition to this, the bank made a significant move by offering to take its insurer arm Great Eastern private with a S$1.4 billion ($1.04 billion) bid. This bold move showcases OCBC’s strategic approach to consolidating its position in the

Panama’s president-elect, Jose Raul Mulino, is gearing up to tackle the unprecedented challenges posed by a severe drought affecting the Panama Canal’s water capacity. To address this issue, he plans to seek approval for a law that would allow the canal to construct significant water reservoirs. This bold move aims to secure the water supply

Amidst recent economic data pointing towards a potential interest rate cut from the Federal Reserve, gold prices have seen a significant uptick. This surge in prices comes in the wake of reports that the number of Americans filing for unemployment benefits has increased more than expected. Such indicators have fueled speculation that the Fed may

After experiencing a sharp contraction in March, China’s export sector managed to return to growth in April, with shipments increasing by 1.5% year-on-year. This positive development indicates a potential improvement in overseas demand, providing a glimmer of hope for policymakers looking to sustain this momentum throughout the year. In addition to the growth in exports,

The Asian stock market is currently experiencing a lack of direction, with mixed signals from U.S. policymakers and economic data creating uncertainty among investors. Despite lower U.S. Treasury yields, the dollar remains strong, impacting the performance of Asian stocks. The yen, on the other hand, is facing pressure, even with the threat of currency intervention

Asian shares have reached a 15-month high, driven by renewed confidence in U.S. interest rate cuts. This positive trend is evident in various indexes, with Japan’s Nikkei gaining 1.3% and the S&P 500 futures remaining steady. A notable factor contributing to this momentum is the softer-than-expected U.S. jobs data, as well as remarks from Federal

The recent soft U.S. jobs report has caused a stir in the currency markets, with the dollar remaining largely stable. Despite last week’s strong gains, the yen weakened on Monday to start the week. This came after the currency hit a three-week high of 151.86 per dollar on Friday following suspected Japanese government interventions aimed

Pakistan is eagerly anticipating the visit of an International Monetary Fund (IMF) mission this month to discuss the possibility of a new programme. This comes as Islamabad gears up to kickstart its annual budget-making process for the upcoming financial year. The previous $3 billion short-term programme, which Pakistan successfully completed last month, played a vital

The European Union (EU) has recently launched an investigation into China’s procurement of medical devices, as part of its ongoing efforts to protect home-grown manufacturers. This investigation is just one of several probes that the EU has initiated to determine whether Chinese companies are engaging in unfair practices, such as dumping subsidised goods on the

The stock markets in the Gulf region experienced a positive trend on Sunday, with the Qatar index leading the way. This upward movement was a result of the slowing U.S. jobs growth in April, which raised hopes of early interest rate cuts by the U.S. Federal Reserve. The Labor Department’s employment report revealed that the