In a world where technological advancements and financial innovations are rapidly reshaping our economic landscape, the concept of Central Bank Digital Currencies (CBDCs) has emerged as a beacon of modernization in the realm of monetary systems. Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), has emphatically voiced her stance at the Singapore FinTech Festival 2023, urging the public sector to continue its preparedness for the deployment of CBDCs and associated payment platforms. […]

The journey of U.S. soybeans from a modest, alternative crop in the 1960s to a global economic juggernaut today is nothing short of a financial and agricultural epic. The transformation of these humble legumes into a powerhouse commodity, worth a staggering $124 billion to the U.S. economy in 2022, encapsulates a tale of innovation, competition, and economic savvy. Let’s start with the astonishing growth trajectory of soybeans in the United States. A flashback to the […]

In an era marked by unprecedented geopolitical tremors, corporate giants are sounding an alarm that echoes through the corridors of power and reverberates in the hushed boardrooms of the financial world. Frederick Kempe, the visionary leader of the Atlantic Council, paints a grim picture of a world teetering on the edge of catastrophe, likening the current geopolitical landscape to a powder keg reminiscent of the preludes to the world wars. “We stand at a precarious […]

Green Riyadh, Saudi Arabia’s extensive tree-planting venture, has commenced its highly anticipated greening initiative in Al Nakheel, thus marking the next chapter in the country’s ambitious agenda to delineate Riyadh’s residential landscapes with an additional 7.5 million trees. Propelled by King Salman bin Abdulaziz Al Saud, alongside the backing of Crown Prince and Prime Minister, Mohammed bin Salman bin Abdulaziz, the Green Riyadh program forms one of Riyadh’s crucial mega-projects. Showcasing immense dedication towards environmental […]

Dubai’s robust real estate sector churned $2.6 billion in sales, which included a headline-making $60 million transaction on a property in Palm Jumeirah, the Dubai Land Department confirmed this week. This solid performance was reflected in a flurry of buying and selling activities in this sector during the week ending on October 6th. The record-breaking revenue was the result of a total of 1,445 real estate transactions that took place across the capital during this […]

Two of the primary financial institutions in China reported marginal growth in profit on Wednesday. They accentuated the valid incidents of local debt to be a substantial threat, as the economy still to regain its strength following the pandemic clampdown. Described in securities reports, The Industrial and Commercial Bank of China Ltd (ICBC), touted as the leading banker in the country, along with Bank of China (BoC), recorded half yearly augmentation in profits by 1.2% […]

With an aim to challenge China’s dominion in an industry vital for tech manufacturing worldwide, Vietnam is set to recommence operations in its largest rare earths mine. A venture endeared by the West, this project has the potential to rival the biggest in the world, as per the declaration of two companies involved. The plan is part of a broader strategy to fortify Vietnam’s rare earths supply chain along with improving its ability to transform […]

Despite being a crucial player in the tech industry, Apple is increasingly finding itself caught up in the escalating economic conflict between the world’s leading economies. Among global public companies, Apple maintains its reputation as the largest in terms of market capitalization but recent events suggest that its substantial presence in China could be at risk. The Wall Street Journal and Bloomberg recently declared that Apple and other foreign origin devices have been prohibited for […]

In its recent analysis, Altrata, a global data firm, provided insights into the sharp decline of around 11% that the population of Asia’s ultra-high-net-worth (UHNW) individuals—individuals with a net worth exceeding $30 million—experienced in 2022. This marked the steepest drop among all regions worldwide, leaving Asia with 108,370 UHNW individuals. The report says that this decline is attributable to factors such as China’s stringent Covid measures, the conflict in Ukraine, and supply chain disruptions in […]

China’s real estate sector is exhibiting a divergent trajectory without a likely swift recovery, despite potential additional stimulus policies, as noted by former advisor to the People’s Bank of China, Li Daokui, currently a professor of economics at Tsinghua University. The Chinese property market faces weakening consumer trust towards real estate firms as leading developers Evergrande and Country Garden grapple with debt crises, the latter narrowly escaping default and the former filing for bankruptcy protection. […]