Vietnam is currently facing an unprecedented financial crisis in its banking sector, with Saigon Joint Stock Commercial Bank (SCB) at the center of the storm. The situation is dire, with the national treasury at risk of drying up if the lending to SCB continues. The central bank of Vietnam has already pumped $24 billion in
Economy
The 2023-24 Canadian budget, presented by Finance Minister Chrystia Freeland, includes a proposal to boost the inclusion rate on capital gains realized annually above $250,000 by individuals and on all capital gains realized by corporations and trusts from one-half to two thirds. This measure aims to increase tax revenue from capital gains and address income
The recent data on new home prices in China has shown a significant decline, with prices dropping at the fastest pace in over eight years. This downward trend can be attributed to the debt issues faced by major property developers, which have had a negative impact on demand and the overall economic outlook in the
The recent retaliatory attack by Iran on Israel has sent shockwaves through global markets, with Asian shares plummeting and gold prices surging. The fear of a broader regional conflict erupting in the Middle East has left traders on edge and uncertain about the future. The dollar has reached a 34-year high against the yen, reflecting
In a horrific incident at one of Sydney’s busiest shopping malls, Inspector Amy Scott demonstrated immense courage and quick thinking. Inspector Scott, who was present at the shopping centre during the attack, was directed towards the assailant by onlookers and made the split-second decision to confront him. Despite the danger, she did not hesitate to
The European Central Bank (ECB) is showing increased confidence in its ability to combat inflation. ECB policymaker Francois Villeroy de Galhau recently stated that an interest rate cut in June is highly probable. This comes as a response to the current economic situation and the need to address the issue of rising inflation. The decision
Pakistan’s central bank has recently announced the repayment of $1 billion in Eurobonds, marking a significant step in the country’s financial landscape. The bond, originally launched in 2014, reached maturity this month, prompting the repayment process. This repayment comes at a critical time for Pakistan, as it seeks a long-term bailout from the International Monetary
The recent announcement by the Biden administration to cancel $7.4 billion in student debt for 277,000 borrowers has sparked both praise and criticism. This move is part of a larger effort to address the student debt crisis in America, with President Joe Biden aiming to provide relief to millions of Americans struggling under the weight
China, the world’s largest auto market, is undergoing a significant transition towards electric vehicles (EVs). With EV sales expected to make up 40% of the 23 million cars sold this year, the demand for gasoline is predicted to peak by 2025 and could halve by 2045. This shift has prompted major oil companies like Sinopec
The recent surge in U.S. inflation data has sparked a heated debate within the Federal Reserve regarding the timing of the first interest rate cut. Despite the growing expectations from investors for a rate cut at the Fed’s upcoming meeting in September, many top-level economists are predicting that the Fed will hold off on making
In a recent announcement, Chinese video games giant NetEase revealed its partnership with Microsoft to reintroduce popular games like “World of Warcraft” back to China. This collaboration comes after a previous fallout that led to the end of a decade-long partnership between NetEase and Blizzard Entertainment. According to the press release, both NetEase and Microsoft
President Joe Biden is working to breathe new life into a plan to construct the first-ever high-speed rail system in the United States, using technology inspired by Japanese bullet trains. Sources have indicated that he is expected to discuss this ambitious project with Japan’s Prime Minister during his visit to Washington this week. The proposed