04 Oct 2022

Treasury’s financial stability watchdog warns cryptocurrencies could threaten safety of U.S. economy

The Treasury Department warned Monday that unregulated cryptocurrencies could pose a risk to the U.S. financial system. The warning was a part of the first major public report released by the Treasury’s Financial Stability Oversight Council on digital assets. The council identified digital or “crypto” assets such as stablecoins as well

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14 Sep 2022

U.S. to Transfer Afghan Funds to Swiss Bank for Safekeeping

On Wednesday, the US announced that it plans to transfer billions of dollars in frozen Afghani assets to a fund in Switzerland. This will effectively shelve talks that discusses recapitalizing the central bank despite the Taliban rule. The assets consist of roughly 7 billion USD. The Switzerland bank, the Bank

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06 Jun 2022

Beijing Cautiously Reopens After Covid-19 Wave

Beijing has taken tentative steps towards reopening the city on Monday as much of the region lifted restrictions on dining in restaurants. In addition, many workers were able to return to their offices after a month-long period of stringent measures dictating the city’s businesses and residents’ personal movements. However, smaller

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12 Feb 2021

U.K. Economy Suffers Biggest Slump in 300 Years Amid Covid-19 Lockdowns

Official estimates confirm that the UK economy records its biggest contraction in more than three centuries in 2020 due to lockdown measures halting the operations of non-essential businesses and preventing people from shopping. The country has also suffered one of the world’s deadliest outbreaks. The country is currently grappling with

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23 Dec 2020

After months of calm, Thailand grapples with virus outbreak

The Samut Sakhon province of Thailand is seeing a surge of cases that threatens efforts to contain the virus and the residual effects the virus has on the economy. A 1,000-bed field hospital is being set up in the province, close to those infected to reduce the transmission through travel

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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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03 Nov 2020

Ant IPO Postponed by Shanghai Stock Exchange

Today, the Shanghai Stock Exchange released a statement postponing the initial public offering of Ant Group Co. The restriction comes just a day after the company’s controlling seller, Jack Ma, was summoned by four regulatory agencies to attend a closed-door meeting. The undercover meeting with regulators and changing the regulatory

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22 Oct 2020

Lebanon Brings Back Hariri as Prime Minister Amid Political Crisis

Saad Hariri, former Lebanese Prime Minister, has been nominated to serve again just a year after his resignation due to popular protests. Hariri’s nomination is risky due to ongoing protests over government negligence and protests seeking an overhaul of the political system following an explosion that rocked the capital city

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19 Oct 2020

China Economy Grows 4.9% as Rest of World Struggles With Coronavirus

On Monday, China was leading worldwide efforts to get the gross domestic product back on track following the COVID-19 pandemic that sent several countries into recession. China nearing its pre-COVID-19 trajectory, off by about half a year. The pandemic’s accompanying lockdown measures were detrimental to countries worldwide, most of which

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07 Oct 2020

Singapore will pay citizens to have a baby during the pandemic

Singapore has launched a program in which couples will get a payout for having children during the COVID-19 pandemic due to rapidly falling fertility rates and a suffering economy. The country’s deputy prime minister stated that the initiative aims to reassure future parents who are concerned about financial pressure and

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