18 Jan 2022

Oil prices hit 7-year highs as tight supply bites

Oil prices climbed to their highest level since 2014 as possible supply disruptions due to attacks in the Mideast Gulf added to a tight supply outlook. Brent crude rose $0.88 or 1%, while U.S. West Texas Intermediate crude jumped 1.5% or $1.23. Both benchmarks were highest since October 2014.  After

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10 Dec 2021

Evergrande can’t pay its debts. China is scrambling to contain the fallout

Beijing is intervening to prevent a disorderly collapse of Evergrande after it has defaulted on its debt. The collapse of the real estate group could wreak havoc on the world’s second biggest economy. The property developer has entered “restricted default” after the company was unable to pay off interest that

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04 Oct 2021

China Evergrande Stock Was Halted Pending a ‘Major Transaction.’

“The stock of embattled property developer China Evergrande (ticker: 3333.Hong Kong) was halted in Hong Kong trading Monday pending an announcement on a “major transaction,” the company said in a filing. It comes amid reports rival developer Hopson Development Holdings is planning to buy around 51% of Evergrande’s property services

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04 Oct 2021

Pandora Papers Detail the Offshore Wealth of the Global Elite

A massive trove of private financial records shared with The Washington Post and other news outlets exposes vast reaches of the secretive offshore system used to hide billions of dollars from tax authorities, creditors, criminal investigators and — in 14 cases involving current country leaders — citizens around the world.

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22 Sep 2021

China Evergrande veers toward default — and a $300 billion global shock

Real estate tycoon Xu Jiayin and Evergrande, the company he founded in 1996 are coming under fire for it’s $300 billion in liabilities. Evergrande, one of China’s largest developers, would collect debt to fund expansions, and became too financially risky for the authorities to ignore. China’s central bank ordered the

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11 Jun 2021

Fresh Covid-19 Outbreaks in Asia Disrupt Global Shipping, Chip Supply Chain

A fresh wave of Covid-19 outbreak clusters in Asia has created bottlenecks in the supply chain, which threaten to increase prices and impact post-pandemic recovery across the globe. Vaccination campaigns are still in the early stages throughout much of the region, resulting in increased risks of new outbreaks. One outbreak

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07 May 2021

China’s trade surged in April as overseas demand heats up

Trade in China extended its impressive performance with exports accelerating and import growth hitting a decade high in April. Stalled factory production in other countries hit by coronavirus have increased demand for goods made in China. Exports surged 32.2% in terms of dollars from a year earlier. 30.6 percent growth

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12 Jan 2021

India’s Top Court Suspends Farm Laws That Prompted Massive Protests

Farmers in India have been protesting due to the new, market-oriented rules. The highest court in India stopped the implementation of the new laws on Tuesday. The laws are suspended until government officials, a committee of experts and farmers can find a solution to the dispute. The farmers have been

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11 Jan 2021

China brings in new law to fight Trump’s sanctions

China has created new rules that protect many of its companies from “unjustified” US sanctions. Chinese courts have been punishing companies that have complied with the restrictions applied by the United States. The New York Stock Exchange will be removing three Chinese telecommunications firms from an executive order signed by

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04 Nov 2020

Argentina’s President Struggles to Avert Economic Crash

Last year, Argentinian President Alberto Fernandez was elected to lift the country out of a harmful and devastating economic recession. Now, the economy is facing a surmounting crisis as COVID-19 threatens economic stability across the world. The Argentine government is struggling to create an economic plan while managing a leftist

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