Gold prices have climbed in the last few sessions to trade near its all-time high on Wednesday. Prices have been supported as traders maintained bets that the Federal Reserve will cut interest rates further. Lower interest rates bode well for gold as it is a non-yielding asset unlike bonds. Also,…
In a groundbreaking initiative, Google is set to enhance its energy portfolio by collaborating with Kairos Power to develop seven small nuclear reactors across the United States. This partnership marks a significant milestone as the first of its kind in the tech industry. The inaugural reactor is anticipated to be…
The New Zealand dollar has dropped to its lowest value since August, driven by increased expectations of interest rate cuts in the country and growing apprehension regarding economic conditions in China. On Wednesday, the kiwi fell by as much as 0.7% to 60.4 US cents, making it the worst-performing currency…
The Hang Seng index moved to a correction phase this week, falling by over 11% from its highest point this year. It was trading at H$20.440, much lower than the year-to-date high of H$23,230. Other Chinese indices have slipped this week. The closely-watched CSI 100 index has plunged to CNY…
Argentine President Javier Milei has provided fresh insights into his government’s currency strategy, signaling a move toward a flexible exchange rate for the peso as the country prepares to lift its longstanding capital controls. In his keynote speech at the Central Bank’s annual conference, Milei emphasized the importance of adopting…
Horizon Robotics, a prominent player in the realm of autonomous driving technology, has announced its intention to secure up to $696 million through an initial public offering (IPO) in Hong Kong. This move comes as the city’s capital markets begin to exhibit signs of revitalization following a prolonged period of…
In a strategic move to reinvigorate its nightlife and dining scene, Hong Kong’s Chief Executive John Lee announced a significant reduction in liquor taxes on Wednesday. This initiative aims to restore the city’s standing as a vibrant travel destination amidst growing competition from regional counterparts like Singapore and Japan. Following…
Hong Kong has introduced new measures to alleviate its prolonged property market slump by easing mortgage rules. The city will raise the loan-to-value (LTV) ratio for all residential properties to 70%, up from 60%, effectively reducing the required downpayment for homes valued at over HK$35 million ($4.5 million). Chief Executive…
Tesla, led by Elon Musk, has stirred speculation in the cryptocurrency world by transferring nearly all of its bitcoin holdings—valued at approximately $765 million—to unknown wallets. This action raises questions about whether the electric vehicle manufacturer is planning to sell its bitcoin. On Tuesday, wallets associated with Tesla moved more…
The New Zealand dollar has dropped to its lowest value since August, driven by increased expectations of interest rate cuts in the country and growing apprehension regarding economic conditions in China. On Wednesday, the kiwi fell by as much as 0.7% to 60.4 US cents, making it the worst-performing currency…