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☆ The US dollar is so strong that China's central bank, among others, just keeps loading up on gold
▼ + stars: | 2024-05-08 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Central banks are on a gold-buying spree, contributing to record-high spot gold prices. Other central banks are also snapping up gold to diversify their assets on the back of a strong greenback. Other central banks are also loading up on gold. Emerging market central banks that bought gold in the first quarter of the year include Kazakhstan, Oman, Kyrgyzstan, and Poland. There are political motivations for central banks to diversify their assets, too.

Persons: —, it's, bode Organizations: Service, People's Bank of China, greenback, Gold, JPMorgan, Allianz Locations: China, Turkey, India, Kazakhstan, Oman, Kyrgyzstan, Poland, United States

☆ From 25 years in prison to just four months: Inside the final verdict on a crypto billionaire CEO archrivalry
▼ + stars: | 2024-05-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +18 min

Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. A month earlier, on the opposite coast in downtown Manhattan, FTX's Sam Bankman-Fried received a 25-year prison sentence for his crimes. At the beginning of his trial, SBF sported a fresh haircut and wore suits, but by its end, his curls were wild again. Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. watch nowMoney makes all the differenceUnlike SBF, CZ didn't have his wealth wiped out by bankruptcy of the crypto company he founded.

Persons: Sam Bankman, Zhao Changpeng, Mike Segar, Benjamin Girette, Changpeng Zhao, FTX's Sam Bankman, Fried, Zhao, Binance's Zhao, FTX's, Toyotas, Braden Perry, Perry, Manfred, SBF, Michael Lewis, Lewis, Sam didn't, Amr Alfiky, Sam, Caroline Ellison, —, Zhao's, Yi He, Binance, David Ryder, Yang, Rachel Zhao, Yesha Yadav, Yadav, Mark Bini, Lewis Kaplan, Bankman, Kaplan, perjured, Neama Rahmani, Rahmani, Tre Lovell, Zhao hasn't, Lovell, weren't, FTX Organizations: Reuters, Bloomberg, Getty, Department of Justice, CFTC, Stanford University's, Bankman, CZ, Staff, Reuters Prosecutors, Alameda Research, Vanderbilt University, Wall Street, CNBC, FTX, Emergency Economic, Justice Department, DOJ Locations: Seattle, Manhattan, California, Hong Kong, Bahamas, Palo Alto, U.S, New York City, Alameda, Seattle , Washington, Paris, France, Angeles, Binance, Dubai, Delaware

☆ What 'vibecession'? Some 80% of people in Singapore say they're bullish about the economy
▼ + stars: | 2024-04-10 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +3 min

Almost 80% of Singaporeans are optimistic about the economy, according to SurveyMonkey's 2024 poll. Damircudic | E+ | Getty ImagesMajority of the residents in Singapore are bullish about where the economy is headed and confident that the government will be able to support them during their retirement. The results in Singapore buck the global trend, where less than half the adults polled are positive about where their economy is going. The survey gathered results from over 4,300 adults living across Australia, France, Germany, Mexico, Singapore, Spain, Switzerland, the United Kingdom and the United States between March 8 and 25. That's despite predictions by the International Monetary Fund that the global economy is approaching a "soft landing" and that inflation is slowly moderating.

Persons: SurveyMonkey, Eric Johnson, joblessness Organizations: Getty, CNBC, International Financial Security, International Monetary Fund, United Locations: Singapore, Mexico, U.S, Australia, Germany, France, Spain, Switzerland, United Kingdom, United States, States

☆ More Americans say they are living paycheck to paycheck this year than in 2023—here's why
▼ + stars: | 2024-04-09 | by ( Gili Malinsky | ) www.cnbc.com time to read: +1 min

A majority, 65%, say they live paycheck to paycheck, according to CNBC and SurveyMonkey's recent Your Money International Financial Security Survey, which polled 498 U.S. adults. That's a slight increase from last year's results, which found that 58% of Americans considered themselves to be living paycheck to paycheck. The 2024 survey polled 4,342 adults altogether and included 500 adults from Mexico, 503 adults from Australia and 482 adults from Singapore. For Americans, the feeling of living paycheck to paycheck spans the gamut of salaries. Of those who said they do, 35% said they would need to make $50,000 per year to feel financially secure, 44% said they'd need to make $100,000 per year and 11% said they'd need to make $500,000 per year.

Persons: Here's what's Organizations: CNBC, International Financial Security Survey Locations: U.S, Mexico, Australia, Singapore

☆ Inflation is the main source of financial stress, CNBC's Your Money Survey finds
▼ + stars: | 2024-04-03 | by ( Sharon Epperson | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation is the main source of financial stress, CNBC's Your Money Survey findsCNBC's Sharon Epperson joins 'Squawk Box' with the latest results from CNBC's Your Money International Financial Security Survey conducted by SurveyMonkey.

Persons: CNBC's Sharon Epperson, SurveyMonkey Organizations: Survey, International Financial Security

☆ US Faces Heightened Risk From Russia, North Korea, Treasury Financing Report Finds
▼ + stars: | 2024-02-07 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

WASHINGTON (Reuters) - The United States faces heightened risk from Russia, which is trying to acquire goods with military applications, the U.S. Treasury Department said in fresh National Risk Assessments on Money Laundering, Terrorist Financing, and Proliferation Financing released on Wednesday. The United States also faces heightened risk from North Korea, the Treasury Department said, as networks linked to Pyongyang increasingly exploit the digital economy, including through hacking virtual asset service providers. The report includes ways Hamas exploits the international financial system, including through solicitation of funds from witting and unwitting donors, the Treasury Department said. The United States has sought to cut off funding for the group after its deadly attack on Israel in October. The proliferation of domestic violent extremist movements also pose more threats to the United States, the department said.

Persons: Brian Nelson, Daphne Psaledakis, Gerry Doyle Organizations: WASHINGTON, U.S . Treasury Department, United, Treasury Department, Terrorism, Financial Locations: United States, Russia, Ukraine, North Korea, Pyongyang, Israel

☆ Factbox-Policy Pledges of Indonesia's Presidential Candidates
▼ + stars: | 2024-02-06 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +5 min

(Reuters) - Three candidates are running in Indonesia's presidential election on Feb. 14. The following is a summary of policy objectives they have pledged while campaigning. ANIES BASWEDAN- Target 5.5%-6.5% average annual economic growth from 2025-2029- Create 15 million jobs, including 'green' jobs- Raise the tax-to-GDP ratio from 10.4% in 2022 to 13%-16% by 2029- Target annual inflation of 2%-3% from 2025-2029- Offer incentives for renewable energy projects- Impose a carbon tax with proceeds to be used as an endowment fund to finance development of renewable energy- Increase the 'village fund' to 5 billion rupiah ($317,965) for each village, from the current 1 billion rupiah. - Widen access to global markets for palm oil farmers- Strengthen free trade agreements and Indonesia's role in international financial institutions- Minimise imports of staple foods- Create 2 million new affordable housing units, including for informal workers, youth- Expedite forest conservation and rehabilitation projects- Limit new construction of, and retire existing coal-fired power plants, especially in Java, Bali islands- Review debt of state-owned enterprises, continue debt restructuring programme- Revise Jobs Creation Law with goal to ensure fair wages for workers- Evaluate the $32 billion new capital city project- Evaluate food estate programme, replacing it with contract farming, a scheme to ensure farm products will be sold- Impose a wealth tax on Indonesia's 100 richest people- Audit the nickel industry with focus on its impact on the environment and ensuring welfare of domestic workers- Strengthen the anti-corruption agency by revising the law that regulates it- Ease permitting requirements for building places of worshipGANJAR PRANOWO- Continue programmes of outgoing President Joko Widodo's administration- Target average annual economic growth of 7%- Create 17 million new jobs- Expedite construction of new capital city- Increase the defence budget as a percentage of gross domestic product (GDP) to between 1%-2%, from about 0.8% presently. Modernise military hardware- Target 30% share for renewable sources in energy mix by 2029- Allow more renewable energy producers to use electricity grids of state utility firms to boost green energy adoption- Set up a dedicated ministry for the palm oil sector- Maintain moratorium on deforestation, accelerate reforestation programmes- Create digital tax collection system under the new tax agency separated from finance ministry- Limit permit issuance of new nickel smelter to avoid a further oversupply- Expand social welfare to cover 15 million families, up from 10 million currently- Provide funding to ensure at least one member of a poor family receives education until college- Strengthen national anti-corruption agency- Maintain foreign policy of non-alignment- Strengthen Indonesia's commitment to support fight of Palestinian people- Revitalise the Association of Southeast Asian Nations and its decision-making process, especially regarding South China Sea disputes.

Persons: ANIES, GANJAR, Joko Widodo's, PRABOWO, Joko, Stanley Widianto, Ananda Teresia, Stefanno Sulaiman, Bernadette Christina Munthe, Martin Petty Organizations: Reuters, Association of Southeast Asian Nations Locations: Java, Bali, South

☆ Iraq Bans 8 Local Banks From US Dollar Transactions
▼ + stars: | 2024-02-04 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +3 min

By Timour AzhariBAGHDAD (Reuters) - Iraq has banned eight local commercial banks from engaging in U.S. dollar transactions, taking action to reduce fraud, money laundering and other illegal uses of U.S. currency days after a visit by a top U.S. Treasury official. The banks are banned from accessing the Iraqi central bank's daily dollar auction, a main source of hard currency in the import-dependent country that has become a focal point of a U.S. crackdown on currency smuggling to neighbouring Iran. A central bank document verified by an official at the bank listed the banned banks. War in Israel and Gaza View All 194 ImagesThey are: Ahsur International Bank for Investment; Investment Bank of Iraq; Union Bank of Iraq; Kurdistan International Islamic Bank for Investment and Development; Al Huda Bank; Al Janoob Islamic Bank for Investment and Finance; Arabia Islamic Bank and Hammurabi Commercial Bank. Banks banned from dollar transactions are allowed to continue operating and are allowed to engage in transactions in other currencies, the central bank says.

Persons: Timour Azhari, Al Huda, Ashur, Hammurabi, ”, Banks, Brian Nelson, Mohammed Shia, Giles Elgood Organizations: Treasury, Ahsur, Bank for Investment, Investment Bank of Iraq, Union Bank of, Kurdistan International Islamic Bank for Investment, Development, Al, Al Huda Bank, Islamic Bank for Investment, Finance, Arabia Islamic Bank, Hammurabi Commercial Bank, Central Bank of, U.S . Treasury, Huda Bank, Reuters, Iraqi Locations: Timour, Timour Azhari BAGHDAD, Iraq, U.S, Iran, United States, Israel, Gaza, Union Bank of Iraq, Kurdistan, Central Bank of Iraq, Washington, Baghdad

☆ Zelenskiy Says EU Aid Approval Will Boost Ukraine's Economy
▼ + stars: | 2024-02-01 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

KYIV (Reuters) - President Volodymyr Zelenskiy said on Thursday the EU's approval of an aid package to Ukraine would strengthen long-term economic and financial stability as the war with Russia approaches its third year. "It is very important that the decision was made by all 27 leaders, which once again proves strong EU unity," Zelenskiy said on the X social media platform. "Continued EU financial support for Ukraine will strengthen long-term economic and financial stability, which is no less important than military assistance and sanctions pressure on Russia," he said. Ukraine expects to receive the first tranche of 4.5 billion euros ($4.9 billion) from the EU facility in March, the economy ministry said. The Latest Photos From Ukraine View All 91 ImagesUkraine critically depends on financial support from its Western allies.

Persons: Volodymyr Zelenskiy, Zelenskiy, Serhiy Marchenko, Olena Harmash, Jon Boyle Organizations: Finance, Kyiv, European Union Locations: Ukraine, Russia

☆ China stock market: CSRC limits short-selling in latest effort to stem a rout
▼ + stars: | 2024-01-29 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China’s top securities regulator has limited short-selling, in its latest effort to stem a protracted $6 trillion-dollar stock market rout that began in 2021. The China Securities Regulatory Commission announced Sunday it would “fully” suspend the lending of restricted shares on bourses in mainland China. The Shenzhen stock exchange is the second-largest in mainland China after Shanghai. Bloomberg/Getty ImagesCalm returns but challenges remainChinese authorities have stepped up their measures to stem the stock market rout over the past week. A day later, in an unprecedented move, regulators said they were considering evaluating the performance of the heads of state-owned companies based on their stock market value.

Persons: Hong Kong CNN —, ”, Ken Cheung, Evergrande, ” Cheung, Hong, Li Yunze, Pan Gongsheng Organizations: Hong Kong CNN, China Securities Regulatory Commission, Mizuho Bank, Bloomberg, Shanghai Shenzhen, Administration of Financial, People’s Bank of China Locations: Hong Kong, bourses, China, Shanghai, Shenzhen

☆ Russia boasts it is beating sanctions, but its longer-term prospects are bleak
▼ + stars: | 2024-01-29 | by ( Tim Lister | ) edition.cnn.com time to read: +14 min

Far from buckling under their weight, the Russian economy is in fact 1% larger than it was on the eve of the invasion. India and China now account for 90% of Russian oil exports, according to Deputy Prime Minister Alexander Novak. Noemi Cassanelli/CNNThere’s little sign that ordinary Russians have been drastically impacted by Western sanctions. Sanctions will have a long-term impact on the Russian economy, according to the European Commission. Nabiullina said the Russian economy was like a car trying to go too fast.

Persons: Vladimir Putin, Putin, Sergei Chemezov, ” Chemezov, Scott Peterson, Alexander Novak, Christine Abely, “, ”, SWIFT, Alexei Mordashov, Noemi Cassanelli, Geoffrey Pyatt, Rachel Lyngaas, —, Alexander Nemenov, Elvira Nabiullina, Nabiullina, Natalia Kolesnikova, ” Abely Organizations: CNN, Atlantic Council, Russia, West ., Shipping, Windward, Reuters, US Treasury Department, United Arab Emirates, Crime Agency, US Treasury, “, Bank of, European, US, Financial Times, Russian Central Bank, Getty, Producers, International Energy Agency Locations: United States, Ukraine, Russian, Russia, Western, Sviatohirsk, Donetsk region, Asia, West, West . India, China, India, Volgograd, Turkey, UAE, Bank of Finland, Hong Kong, Europe, Egypt, Thailand, Moscow, Kazakhstan, Soviet Russia, AFP, Beijing

☆ China stock market: Calm returns after wild week but big challenges remain
▼ + stars: | 2024-01-26 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —It’s been a rollercoaster week for stocks trading in mainland China and Hong Kong. “For a sustained rally in China stocks, we think China will need to address the core of these concerns (predominantly property sector issues and US-China tensions),” the analysts added. In the 7 days to January 24, exchange-traded funds (ETFs) tracking Chinese stocks recorded large inflows of $12.6 billion, according to a Citi survey of global fund managers. Still, investors have been fleeing Chinese stocks over a much longer period because they are worried about the country’s economic prospects. The country is facing the prospect of a vicious cycle whereby lower demand leads to lower investment, lower production and lower income, thus causing even lower demand.

Persons: Hong Kong CNN — It’s, Hong, — haven’t, ” Nomura, “, Li Qiang, ”, Li Yunze, Pan Gongsheng, Florence Lo, HSI, Raymond Yeung, ” Yeung Organizations: Hong Kong CNN, Shanghai Shenzhen, ”, Shanghai Financial Exchange, Bloomberg, State, Supervision, Administration Commission, Administration of Financial, Reuters, People’s Bank of China, Citi, Enodo Economics, HSBC, Greater China, ANZ Research Locations: China, Hong Kong, Shanghai, United States, Beijing, Davos, Switzerland, Greater

☆ China tries to halt stock market rout by boosting lending and wooing foreign investors
▼ + stars: | 2024-01-24 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —China has vowed to pump more money into the economy and further open its $64 trillion financial industry to international investors, as Beijing scrambles to restore confidence following a massive stock market rout. The astonishing losses, reminiscent of the last Chinese stock market crash of 2015-2016, highlight a crisis of confidence among investors concerned about the country’s future. It will allow Hong Kong banks to expand their businesses in mainland China and reduce the barriers to investing in mainland insurers. Last month, China Reform Holdings, a state-owned investment fund, announced it had bought tech-focused index funds to support the market. The brutal sell-off in Chinese stock markets has even forced some hedge fund managers to apologize for making wrong bets.

Persons: Li Yunze, “, Pan Gongsheng, Goldman Sachs, Li, ”, Lam, Li Qiang, Wang Zhao, Premier Li Qiang, Stringer, Li Bei Organizations: Hong Kong CNN, Administration of Financial, People’s Bank of, Buildings, New Champions, Getty, Premier, Xinhua, Reuters, Securities Daily, Social Security Fund, China Reform Holdings, Central Huijin Investment, Shanghai Banxia Investment Management Locations: China, Hong Kong, Beijing, Shanghai, Shenzhen, People’s Bank of China, Victoria Harbour, British, Tianjin, AFP, Central, Fuyang, China's, Anhui

☆ Russia is threatening to retaliate against the West in equal measure if it confiscates Moscow's frozen assets to help Ukraine
▼ + stars: | 2024-01-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Read previewRussian state RIA news agency reported on Sunday the country would retaliate against the West in equal measure if it confiscates Moscow's frozen assets to help Ukraine. This story is available exclusively to Business Insider subscribers. Kremlin spokesperson Dmitry Peskov told reporters on December 29 that Russia has a list of foreign assets that it would seize in retaliation if the West were to move on Russia's frozen assets. It has called the notion of seizing Russian assets "outright theft." Meanwhile, there are international concerns about the legality of seizing the frozen Russian assets.

Persons: —, Moscow, Dmitry Peskov Organizations: Service, West, Business, European Union, RIA, Kremlin Locations: Ukraine, Russian, Australia, Switzerland, Russia

WASHINGTON (AP) —The U.S. on Monday hit Iraqi airline Fly Baghdad and its CEO with sanctions, alleging assistance to Iran's military wing — and in addition, imposed a fifth round of sanctions on the militant group Hamas for abuse of cryptocurrency since the October 7 terrorist attack on Israel. In the new sanctions announced Monday, Treasury said Fly Baghdad and its CEO Basheer Abdulkadhim Alwan al-Shabbani have provided assistance to Iran's military wing and its proxy groups in Iraq, Syria and Lebanon. In addition on Monday, the U.S. sanctioned a network of Hamas-affiliated financial exchanges in Gaza— including financial facilitators that transferred funds through cryptocurrency from Iran to Hamas and Palestinian Islamic Jihad in Gaza. “Hamas has sought to leverage a variety of financial transfer mechanisms, including the exploitation of cryptocurrency, to channel funds to support the group’s terrorist activities,” Nelson said. “Treasury, in close coordination with our allies and partners, will continue to leverage our authorities to target Hamas, its financiers, and its international financial infrastructure.”___Associated Press reporter Sewell is located in Beirut, Lebanon.

Persons: Basheer Abdulkadhim Alwan, ”, Brian E, Nelson, Asad, ” Nelson, Sewell Organizations: WASHINGTON, Ministry, Treasury, Treasury's, Foreign, Control, Hezbollah, Popular Mobilization Forces, State, U.S, Hamas, “ Treasury, Associated Press Locations: Baghdad, Israel, Gaza, Iraq, Syria, Lebanon, Iran, United States, U.S, cryptocurrency, Jihad, Australia, Beirut

☆ Floods kill more than 20 people in northern Tanzania
▼ + stars: | 2023-12-03 | by ( ) www.reuters.com time to read: +1 min

DAR ES SALAAM, Dec 3 (Reuters) - At least 20 people have been killed by floods after heavy rain in the Manyara region of northern Tanzania, the ministry of health said on Sunday. Severe flooding caused by the El Nino weather phenomenon has killed hundreds of people in Kenya and Somalia in recent weeks. "We are very shocked by this event," President Samia Suluhu Hassan said in a video message posted online by the Tanzanian ministry of health. The more than 20 people were killed in Katesh village in the Hanang district of Manyara, the president said. The heavy rain on Saturday night caused landslides in some areas of Mount Hanang, domestic media outlets reported, adding that the waters also swept away livestock.

Persons: Samia Suluhu Hassan, Nuzulack Dausen, Duncan Miriri, Alison Williams Organizations: DAR, SALAAM, El, Tanzanian, Thomson Locations: Manyara, Tanzania, Kenya, Somalia, East Africa, Katesh, Hanang, Mount Hanang

☆ What are leaders saying at the UN climate summit?
▼ + stars: | 2023-12-02 | by ( ) www.reuters.com time to read: +3 min

President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan walks with Brazil's President Luiz Inacio Lula da Silva, alongside other world leaders and delegates, at Dubai's Expo City ahead of the World Climate Action Summit during the United Nations Climate Change Conference (COP28) in Dubai, United Arab Emirates,... Acquire Licensing Rights Read moreDUBAI, Dec 2 (Reuters) - World leaders addressed the COP28 summit on Saturday, where their countries' delegations are assessing progress towards meeting global climate goals. Because for every dollar that we spend before disaster, we can save $7 in damage, and indeed loss of lives. Leaders who deny climate science, delay climate action and spread misinformation. Corporations that greenwash climate inaction and lobby for billions of dollars in fossil fuel subsidies. ___For daily comprehensive coverage on COP28 in your inbox, sign up for the Reuters Sustainable Switch newsletter here.

Persons: United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan, Luiz Inacio Lula da Silva, OLAF SCHOLZ, there's, POPE FRANCIS, State Cardinal Pietro Parolin, KAMALA HARRIS, William James, Elizabeth Piper, Nandita Bose Organizations: United, United Nations, Change, Vatican, State, Reuters, Thomson Locations: United Arab Emirates, Dubai, DUBAI, BARBADOS

A general view of a wind turbine at Westmill Wind Farm & Solar Park, which is owned by the community and supports local renewable energy, at Watchfield, near Swindon, Britain, September 24, 2021. "More than 110 countries have joined already," European Commission President Ursula von der Leyen told the COP28 summit on Thursday of the renewables pledge. A draft of the renewable energy pledge, seen by Reuters, called for "the phase down of unabated coal power" and ending the financing of new coal-fired power plants. Africa receives just 2% of global investments in renewable energy. Somalia has the highest onshore wind power potential of any African country, yet one of the lowest electrification rates in the continent, according to the International Energy Agency.

Persons: Andrew Boyers, Ursula von der Leyen, Najib Ahmed, Kate Abnett, Richard Valdmanis, William Mallard Organizations: REUTERS, Rights, European Union, United Arab, BP, Reuters, International Energy Agency, ___, Thomson Locations: Watchfield, Swindon, Britain, United States, United Arab Emirates, China, India, South Africa, Vietnam, Australia, Japan, Canada, Chile, Barbados, COP28, Africa, Somalia

☆ 22 Countries Pledge to Triple Nuclear Capacity in Push to Cut Fossil Fuels
▼ + stars: | 2023-12-02 | by ( Jenny Gross | More About Jenny Gross | ) www.nytimes.com time to read: +1 min

Tripling nuclear energy capacity by 2050, which would also help Europe reduce its dependence on Russia oil and gas, would require significant investment. In advanced economies, which have nearly 70 percent of global nuclear capacity, investments has stalled as construction costs have soared, projects have run over budget and faced delays. On top of cost, another hurdle to expanding nuclear capacity is that plants are slower to build than many other forms of power. President Emmanuel Macron of France said nuclear energy, including small modular reactors, was an “indispensable solution” to efforts to curb climate change. France, Europe’s biggest producer of nuclear power, gets about 70 percent of its own electricity from nuclear stations.

Persons: John Kerry, Biden’s, ”, Emmanuel Macron, Macron, Ulf Kristersson, Kristersson Organizations: International Energy Agency, World Bank Locations: Russia, France, Sweden

☆ Hong Kong’s pro-democracy leaders to give final defense as landmark national security trial nears an end
▼ + stars: | 2023-11-29 | by ( Chris Lau | Nectar Gan | ) edition.cnn.com time to read: +9 min

Those on trial say that plan was simply part of the pluralistic, oppositional politics that has long been permitted in Hong Kong. The Hong Kong government has repeatedly denied the national security law is suppressing freedoms. They hail from multiple generations and a wide political spectrum - from moderate democrats to those who advocate for Hong Kong’s self-determination. Known as “Grandma Wong,” the 67-year-old had been a fixture of Hong Kong’s pro-democracy protests. No national security cases in the city have been heard in front of a jury.

Persons: Hong, ”, Joshua Wong, Benny Tai, Claudia Mo, Alexandra Wong, Grandma Wong, Hong Kong’s, ” Alexandra Wong, Noemi Cassanelli, Gwyneth Ho, Leung Kwok, ISAAC LAWRENCE, John Lee, ” Lee, –, “ Organizations: Hong Kong CNN, Prosecutors, Hong, Kowloon Court, CNN, Getty, Communist Party, city’s, Hong Kong’s Legislative Locations: Hong Kong, Beijing, Hong, Kowloon, Britain, China, AFP, Hong Kong’s

☆ China's Xi visits financial hub Shanghai
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +3 min

Chinese President Xi Jinping attends the Leaders Retreat at the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, California, U.S., November 17, 2023. REUTERS/Kevin Lamarque Acquire Licensing RightsSHANGHAI, Nov 29 (Reuters) - China President Xi Jinping visited Shanghai, where he went to several venues and learned about the city's efforts to strengthen its competitiveness as an international financial centre, Xinhua news agency reported on Wednesday. Xi made the trip on Tuesday and Wednesday and he inspected the Shanghai Futures Exchange, an exhibition on Shanghai's sci-tech innovations and a government-subsidized rental housing community, the report said. Vice Premier He Lifeng, Shanghai's Communist party secretary Chen Jining and Mayor Gong Zheng also accompanied his visit. It was his first visit to the city since November 2020 and comes a year after historic street protests against China's zero-COVID policy broke out in Shanghai.

Persons: Xi Jinping, Kevin Lamarque, Xi, Cai Qi, Chen Jining, Gong Zheng, Xi's, Premier Li Qiang, Brenda Goh, Bernard Orr, Ella Cao, Ethan Wang, Mark Potter, Louise Heavens, Chizu Nomiyama, Mark Porter Organizations: Economic Cooperation, REUTERS, Rights, Shanghai Futures Exchange, Communist Party of China Central Committee, CPC, Communist, Shanghai Free, Trade, Disney, L'Oreal, Premier, Thomson Locations: Asia, San Francisco , California, U.S, China, Shanghai, Xinhua, Minhang

☆ Ray Dalio hails the Gulf's 'renaissance states' amid a period of 'greater disorder' globally
▼ + stars: | 2023-11-28 | by ( Natasha Turak | ) www.cnbc.com time to read: +4 min

Ray Dalio speaks during the 2023 Forbes Iconoclast Summit at Pier 60 on June 12, 2023 in New York City. We're now talking about a renaissance state here that happens within this greater geopolitical and economic environment," Dalio told CNBC's Dan Murphy on Tuesday. The UAE "is a renaissance state," Dalio said. Amid higher oil prices in recent years, the region's mammoth sovereign wealth funds had ever more to spend. The region's combined 10 largest sovereign wealth funds managed some $4 trillion in early 2023, according to the Sovereign Wealth Fund Institute.

Persons: Ray Dalio, ABU, Dalio, CNBC's Dan Murphy, Dalio's Organizations: Forbes, Getty, United, United Arab Emirates, Bridgewater Associates, United Arab, CNBC, Abu, Abu Dhabi Finance, GCC, Gulf Cooperation, Dalio's Bridgewater Associates, Pensions & Investments, The, Dubai International Financial, Sovereign Wealth Fund, —, Saudi Arabia's Public Investment Fund Locations: New York City, Taylor, ABU DHABI, United Arab, Gulf, United Arab Emirates, Abu Dhabi, U.S, Singapore, The UAE, UAE, Saudi Arabia, Dubai, London, New York, France

☆ Donations to Hamas-linked charities spike 70% since Oct. 7 attack, Israeli officials say
▼ + stars: | 2023-11-28 | by ( Jason Gewirtz | ) www.cnbc.com time to read: +9 min

"We saw a 70% increase in money given to Hamas-linked charities," said Uzi Shaya, a former high-ranking officer in Mossad, Israel's intelligence service. Charities suspected of funneling money to Hamas often change their names, too, making them all the more difficult to monitor. Israel's National Bureau of Counter Terror Financing maintains a list of charitable organizations that it accuses of directly aiding Hamas' military. Hard lessonsEnsuring that individual Gazans have economic opportunity without simultaneously funding Hamas militants has proven to be a difficult challenge for Israel. Beyond direct funding, Israel also allowed 18,000 Gazans to enter Israel to work, again hoping that a stable economy would pacify Hamas.

Persons: John Macdougall, Uzi Shaya, Shaya, Din, Akin, Hawala, Israel, Karim Jaafar, Israel haven't, Binance, —, Al, Adel Hana, Fadel Senna Organizations: Hamas, West Bank, AFP, Getty, Israeli Defense and Foreign Ministry, CNBC, Foreign Ministry, Islamic, Bureau of, Qatari Red Crescent, Gaza, Qatar Emiri Air Force, International Airport, Palestinian, Treasury Department Locations: Ramallah, Israel, Gaza, Islamic Jihad, Lebanon, Iran, Hawala, North Sinai, Egypt, U.S, Gaza City, Adel Hana An Israeli, Sderot

☆ Moody's upgrades Portugal's rating two notches, despite political crisis
▼ + stars: | 2023-11-18 | by ( Sergio Goncalves | ) www.reuters.com time to read: +2 min

Portugal's government nationalised a small private bank, Banco Portugues de Negocios (BPN), on Sunday as the international financial crisis claimed its first victim in the Iberian country. REUTERS/Jose Manuel Ribeiro (PORTUGAL) Acquire Licensing RightsLISBON, Nov 18 (Reuters) - Moody's upgraded Portugal's long-term issuer rating two notches to A3 from Baa2, despite the political crisis triggered by the resignation of the country's prime minister due to an investigation into alleged irregularities in his government. Moody's said it appeared the country's institutions were dealing with the crisis in an "effective and transparent manner". The 2024 budget, which is set to be approved by the Socialist parliamentary majority on Nov. 29, projects economic growth slowing down to 1.5% in 2024 from the 2.2% growth expected this year. It sees "significant private and public investments as well as the implementation of further structural reforms", both linked to the country's recovery plan.

Persons: Jose Manuel Ribeiro, Antonio Costa, Marcelo Rebelo de Sousa, Moody's, Fernando Medina, Medina, Sergio Goncalves, David Latona Organizations: Banco Portugues de, Rights, Finance, Socialist, Thomson Locations: Portuguese, Lisbon, Banco Portugues de Negocios, PORTUGAL, Rights LISBON, Baa2, Portugal

☆ Multipolar world opens up surprising safe havens
▼ + stars: | 2023-11-17 | by ( Felix Martin | ) www.reuters.com time to read: +7 min

This new-look cap table leaves the U.S. much more vulnerable to the vagaries of foreign investors than before. In a crisis, foreign investors would rush to buy even more U.S. debt. Reuters GraphicsA less orthodox option would be to invest in emerging markets instead. The last time net equity investment in the U.S. NIIP dipped close to negative territory was as the dot-com bubble was deflating in 2001. In the next six years the U.S. saw net equity outflows equivalent to nearly 30% of GDP.

Persons: Hubert Védrine, Xi Jinping, Joe Biden, ’, Donald Trump’s, exceptionalism, NIIP, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Reuters, French, U.S, United, United States, Treasury, Equity, U.S . Treasury, Japan, Democratic, Cooperation Council, Peterson Institute for International, Fed, ECB ”, Thomson Locations: United States, tatters, United, U.S, China, Hong Kong, Switzerland, Singapore, Saudi Arabia, South Africa, Argentina, Mexico, Brazil, Vietnam, India, Chile, Democratic Republic of, Congo, Washington

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