The turn of the global monetary policy cycle this year, with rate cuts in the US, Eurozone, and other major economies, has significantly contributed to investor confidence and a relatively benign global macro and credit environment, according to Fitch Ratings in its latest Risk Headquarters report. However, geopolitical and political risks, deflationary pressures in China,
At the G-24 press briefing during the IMF-World Bank Annual Meetings on October 22, the G-24 countries advocated for the establishment of a common debt framework for middle-income nations, using Sri Lanka as an example of a nation in need of such support. Currently, the framework is limited to low-income countries. According to Iyabo Masha,
The International Monetary Fund (IMF) has raised concerns about the elevated uncertainty surrounding the global economic outlook, citing the potential impact of elections and policy changes. In its latest World Economic Outlook (WEO) report, titled “Policy Pivot, Rising Threats,” the IMF noted that nearly half of the world’s population is either going to the polls
Oil prices fell on Monday as worries about a potential US recession, the world’s largest oil consumer, outweighed concerns over escalating tensions in the Middle East that could disrupt supply from the major producing region. Brent crude futures decreased by 4 cents, or 0.1%, settling at $76.77 per barrel. Meanwhile, US West Texas Intermediate (WTI)
Athletes gearing up for the 2024 Olympic Games in Paris face significant financial challenges as they prepare for the pinnacle of their sporting careers. Unlike professionals in other high-level athletic leagues, Olympic hopefuls often shoulder the burden of training and competition costs, with many relying on crowdfunding platforms to finance their journeys. With full-time training
The United States has taken a significant step by revoking certain licenses that permit companies to export goods, including chips, to Huawei Technologies, a sanctioned Chinese telecommunications giant. The move, effective immediately for some companies, follows the recent launch of Huawei’s MateBook X Pro, an AI-enabled laptop featuring Intel’s new Core Ultra 9 processor. This
Amazon has unveiled plans to invest $9 billion in Singapore to bolster its cloud infrastructure in the city-state, announced during the Amazon Web Services (AWS) ASEAN Summit. This move follows the tech giant’s substantial investments in cloud services in Malaysia and Thailand last year. AWS Country Manager Priscilla Chong stated that the investment aims to
Rainco, a stalwart in the umbrella manufacturing industry, has maintained a strong presence for over four decades, evolving from its inception in 1977 to become a global brand while retaining its leadership position in the local market. Dinesh Dharmaratne, Chief Executive of Rainco, discusses the brand’s journey and strategies for growth. Initially focused on umbrella
The Wall Street Journal is making significant changes to its operations in Asia, as announced in a company-wide memo by Editor-in-chief Emma Tucker. The newspaper is shifting its “center of gravity in the region” to Singapore from Hong Kong, leading to staff cuts in the latter. This move reflects a trend seen in many companies
Apple has experienced a 10 percent decline in iPhone sales amidst increasing competition from Chinese rivals like Huawei, leading to a fifth consecutive quarter of revenue decline. The tech giant, headquartered in California, reported a profit of $23.6 billion on $90.8 billion in revenue for the January-March period, with iPhone sales dropping to $45.7 billion.