Hong Kong's Status as an International Financial Center at Crossroads
Hong Kong lost its status as a global financial hub amidst shifting rankings and regulatory hurdles. Read the implications of China's tightening grip and cross-border capital flow uncertainties.
May 15, 2024 11:59 PM EDT
Is China's Central Bank Gold-Buying Spree a Precursor for War? Part II of II
The idea of a nation acquiring large gold reserves in preparation for military endeavors is not without historical precedent. Prior to World War I, European powers increased their gold reserves, and a century later, Russia's central bank doubled its gold holdings in the years before its invasion of Ukraine. This same strategic stockpiling of gold could be inferred from China and its pre-war positioning for a Taiwan incursion.
Is China's Central Bank Gold-Buying Spree A Precursor for War? Part I of II
Since 2009, China has more than doubled its gold reserves. In wartime, particularly in wars perpetrated in violation of international law, the resulting international sanctions can force an invader state to rely on its gold reserves. Thus if a country is preparing to go to war and incur sanctions, it will ensure it has an ample reserve of gold.
Costco's Gold Bars Part II: From Africa to the Alps to You
So where exactly does that shiny new "999.9 fine gold minted" bar from Costco come from? Under that "Essayeur Fondeur" Swiss authenticity stamp lies a long, bloody trail of death and tears.
Latest News
Myanmar Beer takes competition head on with new logo
Myanmar Beer Ltd (MBL) is facing stiff competition from foreign brands for its local Myanmar Beer and other four products. Encouraged with robust sales volume, Denmark and Dutch brands are enhancing their brewing capacities in Yangon. Myanmar Beer Ltd is also gearing up to meet the competition and has taken up a restructuring plan. It is focusing on innovation and new products as part of the overhaul exercise to win over new customers.
Dec 21, 2015 08:44 AM EST
Aussie billionaire James Packer quits board amid drop in gambling revenues in Macau
James Packer, an Australian billionaire, has left the board of Crown Resorts Ltd as Chairman. Crown Resorts is suffering from a drop in gambling revenues in Macau. Packer will continue as co-Chairman of Crown Resorts. Packer has decided to focus on development projects in the US and Australia.
Dec 21, 2015 03:51 AM EST
US gasoline slips below $2; at 6-year low
The US gasoline average retail price slips below $2 per gallon as oversupply position in the global energy sector continued. The gasoline price at $1.999 per gallon is indicating its lowest in over six years. The US economy is witnessing a rare combination of falling price and rising demand. The recent decision by Opec not to reduce production level is keeping more pressure on global oil price.
Dec 21, 2015 03:47 AM EST
Puerto Rico Electric Power gets a breather on debt payment
Puerto Rico Electric Power Authority (Prepa) has got more time to work on the restructuring of debt and interest payment. This is for the fourth time Prepa received deadline extension. Prepa is holding discussions with insurance companies to guarantee its debt payment.
Dec 21, 2015 09:10 AM EST
Credit Suisse gets nod for Irish branch
As part of its restructuring plan, Swiss banking major Credit Suisse is setting up its branch in Ireland. It has received regulatory approval for opening its branch. The bank will move its 100 employees to Dublin from London office. It'll also slash 2,000 jobs.
Dec 21, 2015 08:00 AM EST
US warns again Alibaba over selling counterfeit goods
Chinese e-Commerce major Alibaba Group has been served another warning letter by the US Trade Representative Office for selling counterfeit goods. The US officials in a latest report said that several brand owners were complaining about Alibaba Group for selling fake goods online. The US officials warned Alibaba that if it doesn't check the problem, it would be added to list of notorious markets for fakes.
Dec 21, 2015 08:01 AM EST
Brazil Judge lifts 48-hour ban on WhatsApp
A Brazilian judge lifted the 48-hour ban on phone-messaging app WhatsApp in the country.
Dec 20, 2015 04:46 PM EST
Brazil's unemployment rate down 7.5% November, surprising analysts
Brazil's unemployment rate went down 7.5 percent in November, whichis lower than the 8 percent that 37 analysts from Bloomberg expected.
Dec 19, 2015 01:56 AM EST
Star Wars fan goes on epic rant after Egypt cancelled the movie due to faulty copy
IMAX Theatres in Egypt cancelled the screening of Star Wars: The Force Awakens sending one fan into an epic rant against the theatre company.
Dec 19, 2015 12:45 AM EST
The Batman v Superman Marketing Needs to Stop Pretending Lex Luthor Is a Real Person
The Batman v Superman movie has done a lot of marketing to show Lex Luthor is a real person. The movie character gives interview to media agencies, have his own websites and even provide free wifi to people. This type of viral marketing is has taken the situation to whole new level of strange.The Batman v Superman marketing needs to stop pretending Lex Luthor is a real person.
Dec 23, 2015 09:47 AM EST