In a recent announcement, Thai former energy executive Pichai Chunhavajira has been appointed as the country’s new finance minister at the age of 75. Pichai, who previously served as the chair of the board of Bangchak Corp, now takes the helm as the deputy prime minister, tasked with the challenging job of rejuvenating Southeast Asia’s
Economy
According to a source familiar with the matter, BHP Group is contemplating an enhanced offer for Anglo American after its initial $39 billion proposal was turned down by the London-listed miner. Discussions are underway regarding a revised bid, which is expected to be presented in the upcoming weeks. However, the group has not yet finalized
Russia’s economy is facing significant challenges, as highlighted by a recent report from the Centre for Macroeconomic Analysis and Short-Term Forecasting. The report indicates that industrial production and investments are stagnating, pointing towards a concerning trend in the country’s economic performance. This stagnation is further exacerbated by a decline in profitability across various industries, leaving
In light of the U.S. House of Representatives passing a bill that would enable the Biden administration to seize Russian assets held in American banks and transfer them to Ukraine, tensions between the United States and Russia have escalated. Dmitry Medvedev, a senior security official in Russia, has issued a stern warning that Russia would
The latest data from the National Bureau of Statistics (NBS) in China revealed that industrial profits in the first quarter experienced a smaller increase compared to the first two months of the year. The profits of China’s industrial firms only rose by 4.3% year-on-year, which is significantly slower than the 10.2% growth recorded in the
The U.S. stock market closed higher on Friday, driven by a surge in megacap growth stocks and favorable inflation data. This rally was sparked by the impressive quarterly results from technology giants like Alphabet and Microsoft. The market also reacted positively to the moderate inflation figures reported by the U.S. Commerce Department. The market witnessed
As investors eagerly await the conclusion of the U.S. Federal Reserve meeting, all eyes are on whether interest rate cuts are still on the table for this year. While it is unlikely that there will be any rate action, Federal Reserve Chair Jerome Powell’s comments about potential policy easing later in 2024 will be closely
As the U.S. Treasury Department gears up to announce its refunding plans for the upcoming quarter, investors are eagerly anticipating a sense of relief after several quarters of auction size increases. The expectation is that the Treasury will maintain the size of most of its auctions, with potential increases in specific issues such as the
The US economy experienced a slowdown in the first quarter of the year, falling below the Federal Reserve’s estimates of its long-run potential. This deceleration, coupled with a rapid rise in inflation, presents a unique challenge for the central bank. While the 1.6% growth rate indicated a cooling economy, the persistently high inflation rates have
The proposal to utilize future interest earned on some $300 billion worth of frozen Russian assets to support Ukraine, instead of seizing them outright, is gaining traction among the Group of Seven nations. The plan involves collateralizing the interest accrued on these assets, estimated at around $5 billion annually, which seems to be a favored
The European market is currently experiencing strong business activity indicators, which have contributed to pushing the euro above $1.07. This surge in the euro’s value has been influenced by promising news from Tesla, with the electric vehicle maker’s shares seeing a significant increase of 13% in after-hours trading. It is worth noting, however, that despite
The recent data showing a surprisingly robust business activity in the euro zone has had a significant impact on the currency market. The euro strengthened against the dollar, causing the dollar index to drop. This unexpected boost in European activity has raised questions about the strength of the U.S. economy in comparison to its European
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