ASIA: Ant Group executives are no longer part of Alibaba Partnership, a body that can nominate the majority of the e-commerce giant’s board, Alibaba’s annual report released on Tuesday showed. as both companies parted ways after China’s sweeping regulatory crackdown. The terms now allow only Alibaba employees to be part of the partnership. Seven Ant […]

ASIA: China’s new household deposits grew more than a third year on year to a record USD 1.5tn in the first half of 2022, while individual bank borrowings plunged more than half over the same period, official data showed. The inversion in savings rates followed an increase in bank deposits as Chinese savers raced to […]

Consumer price gains hit their highest level since January 1983 in Canada. The news comes one week after the Canadian central bank surprised the markets by implementing a 100 basis point rate hike. June’s 8.1% inflation rate acted as another indicator that the Canadian economy is in trouble. The BoC is expected to raise rates […]

ASIA: Chinese authorities on Sunday violently dispersed a peaceful protest by hundreds of depositors, who sought in vain to demand their life savings back from banks that have run into a deepening cash crisis. Since April, four rural banks in China’s central Henan province have frozen millions of dollars’ worth of deposits, threatening the livelihoods […]

It is very interesting how Volodymyr Zelensky is doing whatever he can, not merely to destroy all of Europe, but to push the world into World War III because of his and Ukraine’s inherent hatred of Russians. He has told Justin Trudeau that Ukrainians would never accept Canada’s decision to return a gas turbine intended […]

ASIA: Overseas investors disposed of a combined net total of $5.08 billion in Indonesian, Thai, Malaysian, South Korean, and Indian bonds last month, marking the biggest monthly outflow since March, regulatory data and bond market associations showed. The emerging Asia bonds were hit by a surge in U.S. yields and a jump in the U.S. […]

COMMENT: I thought you were just a Trumper warning what would happen if Biden won. I have come back to your site because I can see inflation approaching 10% as you said and the dollar is rising which made no sense as gold stalled. I think you also said that real estate will decline perhaps […]

  ASIA: China will fare the worst if spiking inflation, slowing growth, and rising interest rates lead to stagflation, according to the results of a stress test of 20,000 companies conducted by credit rating agency, S&P Global Ratings. The company said over 90% of its sample was made up of unrated companies with debt totaling […]

Italian Prime Minister Mario Draghi announced his resignation on Thursday after he fell out of favor with the Five Star Movement. Similar to Boris Johnson, once your own people turn their backs on you, it is time to bow out. “I want to announce that this evening I will present my resignation to the President […]

ASIA: China’s economic growth likely slowed sharply in the second quarter as COVID-19 lockdowns hit factories and consumer spending, a Reuters poll showed, suggesting policymakers may have to do more to spur a faster recovery. On a quarterly basis, GDP is forecast to drop 1.5% in the second quarter, versus growth of 1.3% in January-March, […]