Vietnam’s economy experienced an acceleration in growth during the second quarter of this year, largely due to robust exports. The country’s Gross Domestic Product (GDP) expanded to 6.93% in the second quarter, marking a significant increase from the 5.87% growth recorded in the first quarter. This positive trend has been attributed to the government’s efforts
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The recent ruling by U.S. District Judge Sean Jordan in Sherman, Texas, temporarily blocking a Biden administration rule that would extend mandatory overtime pay to 4 million salaried U.S. workers raises questions about the implications of the decision. The judge argued that the U.S. Department of Labor rule focused on workers’ wages rather than their
The Nasdaq and the S&P 500 reached record highs as an in-line inflation report was released, giving hope for potential interest rate cuts in September. The report indicated that U.S. monthly inflation remained unchanged in May, which was seen as a positive sign following earlier price increases that cast doubt on the Federal Reserve’s monetary
Global equity funds experienced a surge in inflows during the seven days leading to June 26. This influx, totaling $21.65 billion, was the highest recorded in more than three months. Investors are optimistic due to expectations of moderating U.S. inflation levels, which could prompt the Federal Reserve to announce interest rate cuts. The U.S. central
The eurozone has been experiencing a lackluster economic performance in recent years. However, the latest data revealing a 0.3% quarterly growth in GDP suggests that the bloc is currently not in a technical recession. Despite this seemingly positive development, there is still a looming possibility of a recession later in the year, albeit minimal. The
In a recent exclusive interview with CNBC, George Zhao, the CEO of Chinese smartphone company Honor, highlighted the critical importance of protecting user data in the development and implementation of artificial intelligence technologies. Zhao emphasized that while AI has the potential to significantly transform various aspects of our lives, this potential can only be realized
European Union banks are facing scrutiny from the banking watchdog regarding the valuation of high-risk debt, specifically Additional Tier 1 (AT1) bonds. These bonds were initially issued by banks to strengthen their capital reserves in the aftermath of the global financial crisis. However, concerns have been raised about the accuracy of the valuation of these
Recently, the USD/JPY pair reached levels as high as 160.34, a milestone not seen since 1986. This surge is primarily fueled by market expectations of potential intervention by Japanese authorities. Despite verbal assurances from Finance Minister Shunichi Suzuki about the government’s readiness to counteract fluctuations in the yen’s value, concrete financial measures have yet to
Recently, Japanese Finance Minister Shunichi Suzuki made comments regarding the foreign exchange market, stating that he will take necessary actions to address any issues that may arise. While he refrained from commenting on specific forex levels, he emphasized the importance of FX stability and the need to monitor FX movements closely. These statements come at
The Australian economy is closely tied to economic indicators from China, given that China accounts for one-third of Australian exports. As investors analyze the implications of the Australian inflation numbers on the RBA rate path, attention is also turning to Chinese industrial profit numbers and their potential influence on buyer appetite for the Aussie dollar.
Gold prices in India have remained relatively unchanged, indicating stability in the market. As one of the most sought-after precious metals, Gold plays a significant role in various aspects of the economy, including its value as an investment asset and a safe-haven during turbulent times. Gold has a long-standing history as a store of value
Europe is at risk of losing ground to the U.S. and China in the field of artificial intelligence, according to Prince Constantijn of the Netherlands. While European Union regulators have been focusing on regulating AI technologies through laws like the EU AI Act, Constantijn believes that this approach may limit Europe’s potential to become a
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