2024 will be dominated by rate cuts, experts say
The next 12 months will be the year of interest rate cuts, Bloomberg Economics says. The chart shows what is set to happen with borrowing costs in 2024, according to…
China’s Zhongzhi bank declared insolvent with debts of $64 billion
Chinese shadow banking giant Zhongzhi Enterprise Group Co. has filed for bankruptcy after saying it’s insolvent. The firm had earlier revealed a $36.4 billion shortfall on its balance sheet, and…
India to block major crypto exchanges
India is imposing restrictions on leading crypto exchanges that regulators believe are operating in the country illegally. The Financial Intelligence Unit (FIU) has sent several exchanges so-called non-compliance notices. The…
Zuckerberg sold almost half a billion dollars of Meta stock in 2 months
Mark Zuckerberg sold nearly half a billion dollars worth of Meta Platforms Inc. stock in the last two months of 2023 after a two-year hiatus. Meta’s chief executive sold shares…
Saudi Arabia becomes full BRICS member
Saudi state TV said that Riyadh’s membership in the bloc would bolster its image abroad. Leaders of the five BRICS nations — Brazil, Russia, India, China and South Africa —…
Hungary’s debt service costs surged to become EU highest
Hungary’s debt service payments doubled at the end of the Q3 of last year, putting the country on track to overtake Italy for the highest level of debt service costs…