China’s appetite for major commodities has been growing at robust rates, exceeding expectations set by Goldman Sachs. Copper demand has risen by 8% year on year, while iron ore and oil demand has increased by 7% and 6% respectively. This surge in demand can be attributed to strong growth in the green economy, grid, and
World
Former Prime Minister Robert Fico of Slovakia’s SMER-SSD party has emerged victorious in the recent parliamentary election, defeating his progressive rival. Fico campaigned on ending military aid to Ukraine, a stance that resonated with a significant portion of the electorate. However, despite this victory, Fico will need to build alliances in order to form a
European stocks saw a glimmer of hope on Friday, with the pan-European Stoxx 600 index closing up 0.5% from the previous session. This modest rebound was a welcome relief after a challenging month and the worst quarter in a year for European markets. However, despite this recent uptick, concerns lingered about the overall performance as
The Paris public prosecutor’s office has recently launched an investigation into Bernard Arnault, the CEO of luxury goods company LVMH. This investigation stems from financial transactions involving Russian oligarch Nikolai Sarkisov. The allegations suggest that Sarkisov purchased real estate at an Alpine resort with the assistance of a loan from Arnault. The Investigation and Its
The Singapore Exchange (SGX) recently made headlines by becoming the first exchange in Asia to offer trading in “structured certificates.” These financial instruments, issued by a third party, are based on underlying assets and depend on the performance of those assets for their returns. While this move is seen as a positive development for SGX,
The benchmark 10-year Treasury yield reached its highest level in over 15 years, causing concerns among traders and investors. As fears of persistent inflation and tighter monetary policy loom, market participants are left contemplating the potential consequences for the economy and financial markets. The 10-year Treasury yield surged by 5 basis points to 4.612%, surpassing
China’s rapid urbanization drive, which has been progressing at an astonishing pace over the past decade, is finally coming to a halt. This development, according to China economist Hao Hong, could further exacerbate the already struggling property sector in the country. Hong points out that the excessive building of housing for the Chinese population has
In a strategic move to stay ahead of its competitors such as Microsoft and Google, e-commerce giant Amazon has announced its plan to invest up to $4 billion in the promising artificial intelligence (AI) firm, Anthropic. By acquiring a minority ownership position in Anthropic, Amazon aims to leverage the potential of generative AI and further
The recent ceasefire in Nagorno-Karabakh has prompted the leadership of the breakaway region to make a drastic decision. The 120,000 ethnic Armenians residing in Nagorno-Karabakh have expressed their desire to leave for Armenia, fearing the possibility of ethnic cleansing. Despite the internationally recognized status of the territory as part of Azerbaijan, the Armenians in Karabakh
The recent surge in China’s military activities around Taiwan has significantly heightened the risk of events spiraling out of control and inadvertently triggering a clash, warned Taiwan’s defense minister. Over the past two weeks, Taiwan observed a substantial increase in the number of Chinese fighters, drones, bombers, warships, and even the Chinese carrier, the Shandong,