- December 26th, 2024
The U.S. Federal Reserve reduced interest rates by a quarter-point on Thursday, unfazed by the political climate surrounding Donald Trump's election victory. The decision, which lowers the federal funds rate to a range of 4.50% to 4.75%, was met with...
Soros Fund Management, founded by billionaire investor and philanthropist George Soros, has announced plans to close its Hong Kong office, signaling a shift in its Asia-Pacific strategy. The decision is reportedly part of a larger administrative reorganization aimed at streamlining...
Asian equities saw a broad rally Friday, with stocks across Australia, Japan, South Korea, and China all advancing in response to a strong performance across US markets and a recent interest rate cut by the Federal Reserve. Following the Fed’s...
Indonesia, the world’s largest palm oil producer, is undertaking an ambitious drive to meet increasing domestic demand for biofuel, a crucial component of its energy policy. Indonesia’s chief economic minister, Airlangga Hartarto, announced on Thursday that the country will raise...
Asian markets saw a downturn early Thursday as investors weighed the implications of former President Donald Trump's potential return to the White House. With U.S. stocks soaring to record highs, global markets are cautiously assessing the impact of Trump's proposed...
Japanese workers experienced their most substantial base salary increase in over three decades, strengthening the Bank of Japan's (BOJ) position that the nation’s economy remains on a recovery track. This momentum has prompted further speculation that the BOJ may increase...
Canada has ordered the dissolution of TikTok Technology Canada Inc., the Canadian branch of the popular social media app TikTok. The decision comes after an extensive national security review scrutinized the operations and data practices of TikTok’s parent company, ByteDance...
Asian Authorities Brace for Currency Turbulence as Election-Driven Dollar Surge Pressures Currencies
U.S. election uncertainty, several Asian countries have taken protective measures to stabilize their currencies as the dollar gains strength, putting pressure on currencies across the region. Central banks in countries such as Indonesia and China have already intervened to maintain...
Bank Indonesia (BI) has announced its readiness to curb any excessive volatility in the Indonesian rupiah as early indicators show an unexpected edge for former U.S. President Donald Trump in the presidential election race. This initial lead has fueled the...
The yen fell sharply against the dollar on Tuesday, slipping over 1%, as early election results from the United States appeared to hint at a potential advantage for Republican candidate Donald Trump over Democratic incumbent Kamala Harris. The currency's dip,...
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