Worst is over for global chip market, says Samsung
Samsung Electronics on Thursday said the worst is over for the global memory chip market, but announced plans to extend production cuts as demand recovery is still constrained. The move…
China lends a helping hand to Pakistan
China has rolled over a $2.4 billion loan to Islamabad for a period of two years, a boost to its foreign reserves – Pakistan Finance Minister Ishaq Dar said on…
ECB hikes to 23-year high, says inflation to remain ‘too high for too long’
The European Central Bank on Thursday announced a new rate hike of a quarter percentage point – the ninth consecutive increase – bringing the main rate to 3.75%. The ECB…
Binance withdraws german crypto license application
Binance has withdrawn its application for a crypto license in Germany, following reports that the German financial regulator had denied the exchange a crypto custody license. While Binance representatives had…
US credit card debt growing at wild pace, interest rates skyrocketing
Credit card debt in the US grew at the fastest pace in two decades in 1Q2023. Americans have a record amount of nearly $988 billion in credit card debt, according…