Business News

Dollar Declines 10% From 2-Decade Peak; It's China Resurgence That Hurts Greenback

Some analysts say that China's emergence from a protracted Covid-19 lockdown and the positive sentiment this has stirred up are driving the greenback down.

Jan 18, 2023

By Jacob J

Russia's Current Account Surplus Zooms 86% to Hit Record $227 Billion as Oil Exports Stays Robust

Trade between Russia and China hit a record high of $190 billion last year, Chinese customs data showed.

Jan 18, 2023

By Reuters

China's Economic Recovery Needs a Stimulus Package: S&P Global

The full reopening of mainland China's borders is likely to be delayed until international restrictions against China-originated travel are dropped.

Jan 17, 2023

By IANS

US State of Wyoming to Ban Electric Vehicles by 2035; Legislation Explained

There are about 100 companies that are engaged in the oil and gas sector Wyoming, operating a combined 30,000 miles of pipelines and giving jobs to as many as 68,000 people.

Jan 17, 2023

By Jacob J

What is Driving Cryptocurrency Solana's Surge? Altcoin Rises Nearly 60% in 7 Days

Solana, an altcoin which got nearly wiped out because of FTX's collapse, has gained nearly 60% of its value.

Jan 16, 2023

By Nandika Vinal Chand

China Stocks Boom As Foreign Investors Return to Power a V-Turn After Covid Fiasco

According to Nikkei Asia estimates, the foreign investors bought a net 64 billion yuan in the first nine trading days of 2023 compared with only 90 billion yuan investment in the whole of 2022.

Jan 16, 2023

By Jacob J

How Blockchain Technology is bringing a change in Online Gaming Industry

The majority of gaming experiences are still trapped in traditional, centralized models, where developers and gaming companies hold the most power within the ecosystem.

Jan 15, 2023

By Raghav Sawhney

Swedish Mining Company LKAB Finds Huge Rare Earths Deposits; Can Europe End Its China Dependence?

According to the European Commission estimates, as much as 98 percent of the rare earths minerals that Europe needs come from China.

Jan 14, 2023

By Jacob J

Bitcoin Is NOT Dead; Largest Cryptocurrency Rises 4% to Go Beyond $20,000

The cryptocurrency is up 26.4% from the year's low of $16,496 on January 1.

Jan 14, 2023

By IBTimes APAC Desk

Will Financial Armageddon Happen Via a US Default on Interest Payments? EXPLAINER

A Us government interest payment default, albeit unlikely, is termed as a potential financial Armageddon, that will throw the entire global economy into a tailspin.

Jan 14, 2023

By Jacob J

Subway For Sale? Here's Why Quick-Service Food Chain is a Great Value Target at $10 Billion

The quick-service food chain best known for 'submarine' sandwiches and wraps has been held privately for more than five decades.

Jan 13, 2023

By Jacob J

Singapore joins IEA as SE Asia oil demand set to rise 80% by 2040

US to Become Net Crude Oil Exporter First Time Since 1945; Here's How it Works

According to US government data released in November last year, the country, which has long been known only as the biggest energy consumer in the world, imported only 1.1 million barrels per day of crude oil.

Jan 12, 2023

By Jacob J

FTX Has Recovered $5 Billion in Cash, Liquid Cryptocurrencies and Securities, Says Attorney

Bahams said last week it seized $3.5 billion in FTX digital assets, as its former CEO Sam Bankman-Fried faces a trial in the US.

Jan 11, 2023

By IBTimes APAC Desk

Japanese Clothing Giant Uniqlo Offers 40% Pay Rise; Japan's Low Wage Problem in Focus

The company said there was an urgent need to raise pay, in order to bring the pay package on par with global rates.

Jan 11, 2023

By Jacob J

Goldman feels the heat in Asia as IPO engine slows

Goldman Sachs to Cut 3,800 Jobs; Layoffs Begin This Week as Profit Outlook Remains Poor

In September last year, Goldman Sachs had cut about 500 employees. The move had come after the investment bank reported a 48 percent plunge in its second quarter profit.

Jan 9, 2023

By Jacob J

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