On a crucial Friday, India’s Reserve Bank made headlines by maintaining its benchmark interest rate at 6.50%, a decision anticipated by many in the financial sector. This choice comes as the central bank grapples with a dual challenge: curbing inflation and stimulating growth in an economy facing mounting pressures. The delicate balance has prompted economists
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In a groundbreaking moment for the cryptocurrency market, Bitcoin has surpassed the much-anticipated threshold of $100,000. This significant price surge, reaching an impressive $103,544 late Wednesday evening, has marked a remarkable 140% increase in value within the year 2024 alone. Such a leap in value reflects broader market sentiments and the evolving dynamics between traditional
On Wednesday, South Korean financial markets opened amidst considerable unrest, illustrating the delicate interplay between governance and economic stability. The Kospi index faced a significant drop of 1.8%, while the Kosdaq recorded an even steeper decline of 2.4%. This downturn came on the heels of political upheaval as President Yoon Suk Yeol faced mounting pressure
In a striking display of market resilience, major Asian chip stocks outside of China experienced a surge on Tuesday. This came in the wake of the Biden administration’s announcement of a new set of semiconductor export restrictions aimed at crippling China’s ability to manufacture high-end microchips. The Taiwanese semiconductor giant, Taiwan Semiconductor Manufacturing Company (TSMC),
In November, China’s manufacturing sector showcased signs of progress, particularly among smaller manufacturers, indicating that governmental stimulus efforts might be bearing fruit. The Caixin/S&P Global manufacturing purchasing managers’ index (PMI) reported a figure of 51.5, outperforming the anticipated median of 50.5 based on a Reuters survey. This result signifies that the manufacturing activity has maintained
In recent days, the capital city of Tbilisi has witnessed escalating protests as citizens express their dissatisfaction with the Georgian government’s abrupt decision to suspend discussions regarding European Union accession. With tensions boiling over, the demonstrations have seen tens of thousands gather in front of the parliament building, leading to a significant escalation of violence
In a rapid and unexpected turn of events, insurgent forces have re-engaged government troops in Syria’s largest city, Aleppo, marking a notable shift in the dynamics of the ongoing civil war. This resurgence, occurring for the first time since 2016, has sent shockwaves through a city that has endured years of conflict and suffering. The
India’s economic trajectory is under scrutiny as the nation experienced a disappointing growth rate of 5.4% in the second fiscal quarter concluding in September. This figure starkly contrasts with the previous quarter’s robust growth of 6.7% and lands below the 6.5% growth anticipation outlined by numerous economists. Shockingly, this downturn marks one of the lowest
In a striking move aimed at revitalizing a slowing economy, the Bank of Korea (BOK) announced a 25 basis point cut to its benchmark interest rate on Thursday. This decision marks a significant moment, as it represents the first instance of consecutive rate cuts since 2009, following a similar reduction of 25 basis points in
The recent trends in China’s industrial profits signal a concerning reality for the nation’s economic purview, as figures released for October illustrate a 10% decline compared to the previous year. This downturn not only underlines the fragility of corporate earnings but also raises questions regarding the effectiveness of Beijing’s attempts at economic stimulation. Such declines