Billionaire investor Kenneth Griffin, in a recent interview with the Financial Times, made a fervent plea to his alma mater Harvard University to uphold “Western values” in the midst of what he referred to as a “cultural revolution” in U.S. education. Griffin expressed his concern that the fundamental principles of education, namely the pursuit of
Economy
U.S. Senator Elizabeth Warren recently called on the Treasury Department to expedite the process of addressing racial discrimination in the U.S. tax and banking systems. Warren expressed her concerns in a letter to Treasury Secretary Janet Yellen, highlighting the slow implementation of the reforms proposed by the Treasury Advisory Committee on Racial Equity (TACRE) which
Singapore’s second-largest bank, Oversea-Chinese Banking Corp (OCBC), recently reported a 5% increase in first-quarter profit, surpassing market expectations. The bank also announced a S$1.4 billion offer to privatize its insurance arm, Great Eastern. This move highlights OCBC’s strategic focus on enhancing its business portfolio and maximizing shareholder value. Additionally, OCBC forecasted a robust net interest
The recent economic data has sent gold prices on the rise, with investors betting on a potential interest rate cut from the Federal Reserve. This week, spot gold gained 0.2% reaching $2,350.87 per ounce, hitting a more than two-week high. The increase in prices this week has marked a 2.2% rise so far. U.S. gold
Recently elected President of Panama, Jose Raul Mulino, has unveiled ambitious plans for the country, signaling a shift towards pro-investment and pro-business policies. His proposals include addressing the impact of climate change on the Panama Canal, boosting tourism through a national railway project, and tackling the country’s debt and fiscal challenges. However, a critical analysis
China’s export sector saw a return to growth in April, rebounding from a sharp contraction in March. The 1.5% year-on-year growth in shipments last month, in line with economists’ forecasts, indicates some improvement in overseas demand. On the other hand, imports for April increased by 8.4%, surpassing expectations of a 4.8% rise. This data suggests
When it comes to assessing the direction of Asian stocks, it is clear that there is a lack of definite direction. Despite this, the dollar has remained firm, even in the face of lower U.S. Treasury yields. This can be attributed to the mixed signals being sent by U.S. policymakers, as well as the economic
The optimism surrounding potential interest rate cuts in the United States has propelled Asian stocks to 15-month highs, with investors closely monitoring the situation. The MSCI’s broadest index of Asia-Pacific shares outside Japan saw a 0.3% increase at the onset of trading, indicating a positive sentiment among investors. However, Hong Kong shares experienced a slight
The dollar was largely unchanged on Monday following a weaker-than-expected U.S. jobs report. Investors are now speculating that the Federal Reserve could cut interest rates twice this year, which has kept the dollar in a holding pattern. The yen, on the other hand, weakened slightly as the week began. This movement comes after a recent
The European Union has recently initiated a series of investigations into various Chinese industries in an effort to protect its home-grown manufacturers. These investigations focus on the procurement of medical devices, subsidies for wind turbines, solar panels, and electric vehicles. The European Commission, responsible for carrying out these probes, aims to address unfair competition and
The International Monetary Fund (IMF) is scheduled to send a mission to Pakistan this month to discuss the possibility of a new program. This development comes as Pakistan embarks on its annual budget-making process for the upcoming financial year. With the completion of a short-term $3 billion program last month, which helped prevent a sovereign
The Gulf stock markets closed higher on Sunday with the Qatar index leading the way. This surge in stock prices was driven by the slowing U.S. jobs growth in April, which raised hopes among investors of early interest rate cuts by the U.S. Federal Reserve. The Labor Department’s employment report revealed that the U.S. economy
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