China’s and US reach 45 years on diplomatic relations
China and the US have congratulated each other on their 45th anniversary of diplomatic relations, highlighting the positive impact on global peace, stability, and prosperity. Despite tense relations, Biden administration representatives have held meetings in Beijing to foster better relations and mutual trust before their crucial conference in San Francisco.
McDonald’s Malaysia take legal steps to court due to false statements of boycott
McDonald’s Malaysia is suing the Boycott, Divestment and Sanctions Malaysia movement for alleged false statements that harm the company’s operations. The lawsuit claims that the fast-food chain’s social media posts associate the chain with Israel’s “genocidal war against Palestinians in Gaza.” The lawsuit seeks damages of 6 million ringgit ($1.31 million).
Bitcoin get SEC attention on approving spot bitcoin ETF
Asset management firms aiming to launch bitcoin spot price ETFs have filed their SEC filings, with BlackRock Asset Management, VanEck, Valkyrie Investments, Bitwise Investment Advisers, Invesco Ltd., Fidelity, WisdomTree Investments, and a joint venture between Ark Investments and 21Shares submitting new documents detailing their marketmaker arrangements. Issuers that meet their end-of-year file modification requirements may…
Rate of short term funds reach the highest level
The cost of borrowing short-term Treasuries-backed funds has reached its highest level since 2019, with some market participants blaming dealers closing their balance sheets for the year. The DTCC GCF Treasury Repo Index rose to 5.452%, the highest level since September 2019, when declining bank reserves drove overnight loan costs to 10%. Many market participants…
Inflation gap are shortening, US Dollar expected to rose this years
The dollar index fell on Tuesday and the euro reached a four-month high as investors waited for signs of the Federal Reserve’s interest rate decrease. The US dollar is expected to have its worst performance versus a basket of currencies since 2020 as Fed rate cuts reduce its appeal. Analysts predict a significant decline in…
The dollar slip on year end, the Yen rose to its five month high
The dollar struggled to find a bottom in holiday-thinned trade on Tuesday, as the Federal Reserve cut interest rates next year due to dropping inflation in the world’s largest economy. The yen held near its five-month high, with the New Zealand dollar reaching a five-month high of $0.6325 against the greenback. The euro rose 0.03%…
Oil prices has stabilized due to growth demand
Geopolitical concerns in the Middle East and investor anticipation of the US Federal Reserve’s interest rate decrease have boosted global economic growth and gasoline demand, stabilizing oil prices. Brent crude futures increased by 0.1% to $79.17 a barrel, while West Texas Intermediate fell by 0.3% to $73.31. The Israel-Hamas crisis continues, and shipping corporations stopped…
Rosbank got Putin permission to buy shares on Societe Generale
Russian President Vladimir Putin has granted Rosbank permission to buy holdings in Societe Generale-owned significant Russian enterprises, including oil producers Rosneft and Gazprom, metals businesses Norilsk Nickel and Severstal, and other Russian blue chip corporations. The ruling allows Rosbank to trade Russian assets with companies from “unfriendly” countries, which need Moscow’s permission to trade Russian…