Finance & Economics
Guinea coup: China’s bauxite conundrum?
According to worldatlas.com, Guinea is the 4th biggest exporter of bauxite, an alumnium ore. With 19.3 million metric tons produced annually, Guinea is also reputed to be the largest bauxite deposits in the world. (these numbers from worldatlas.com are outdated by the way ; but included for now just for context) With the economic warfare…
Read More[ Forbes ] El Salvador Goes On A $21 Million Crypto Buying Spree As Bitcoin Becomes Legal Tender
El Salvador acquired roughly $21 million worth of bitcoin on Monday, President Nayib Bukele announced, buoying the crypto market ahead of making history Tuesday by becoming the first country in the world to formally adopt the digital currency as legal tender. El Salvador bought its first 400 bitcoins in two lots on Monday—worth an estimated $21 million…
Read More[ SCMP ] Singapore residents who took Sinovac turn to Pfizer to up their antibody counts, amid debate on booster shots
Even after receiving her second dose of the Sinovac vaccine last month, Soh, a 43-year-old Singaporean, was unsure about her immunity levels. So she went to get an antibody test – and the result took her by surprise. Her antibody count stood at 140, a figure her doctor said was about 10 times lower than what someone…
Read More[ Reuters ] Taliban launch charm offensive with Afghan banks amid funding fears
The new, Taliban-appointed head of Afghanistan’s central bank has sought to reassure banks the group wants a fully-functioning financial system, but has so far provided little detail on how it will supply funds to sustain it, said four bankers familiar with the matter. The acting central bank governor, Haji Mohammad Idris, met members of the…
Read More[ Reuters ] U.S. blocking Chinese acquisitions of global tech firms a “red flag” – Chinese state-backed tabloid
Chinese state-backed tabloid the Global Times called U.S. efforts to block cross-border acquisitions of tech companies a “red flag” that impedes China’s tech sector and disrupts the growth of the global tech sector. The outlet, which is published by the People’s Daily, China’s official newspaper for the ruling Communist Party, argued a recent attempt to…
Read More[ The Independent ] New Covid-19 variant with multiple mutations sparking concerns
South African scientists have identified a new coronavirus variant – its number of mutations sparking concerns. First identified in the South African provinces of Mpumalanga and Gauteng, the variant, called C.1.2, is more highly mutated than others flagged by the World Health Organization (WHO). Since being identified, the variant has spread to most South African provinces and…
Read More[ WSJ ] China Plans to Ban U.S. IPOs for Data-Heavy Tech Firms
China plans to propose new rules that would ban companies with large amounts of sensitive consumer data from going public in the U.S., people familiar with the matter said, a move that is likely to thwart the ambitions of the country’s tech firms to list abroad. In recent weeks, officials from China’s stock regulator have told…
Read More[ Vulcan Post ] Binance CEO worked at McDonald’s, now he’s a crypto billionaire and one of Singapore’s richest
Most recently, Binance founder and CEO Zhao Changpeng (also known as “CZ”) was a new entrant to Forbes’ Singapore’s 50 Richest 2021 list, where he took the 22nd spot. The 45-year-old amassed a net worth of US$1.9 billion (as of 10 August 2021), thanks in part to an estimated 30 per cent stake in his company.…
Read More[ BBC ] Pfizer becomes first Covid vaccine to gain full FDA approva
Pfizer’s two-dose Covid-19 vaccine has received full approval from the US Food and Drug Administration (FDA) – the first jab to be licensed in the nation. The vaccine had initially been given emergency use authorisation. Its two jabs, three weeks apart, are now fully approved for those aged 16 and older. In a statement, the…
Read More[ Bloomberg ] China is blocking fleeing Hong Kongers from getting their retirement money
As tens of thousands flee Hong Kong for a new life in the UK, they’re confronting the risk that they will be forced to leave behind their retirement savings as China intensifies its crackdown on the city’s freedoms. Scores are being denied access to money in the Mandatory Provident Fund because of the cascading impact…
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