The US is now sending a stern warning to countries that let Russian banks set up shop in their territories. The US Treasury Department says that Russia is getting around existing sanctions by opening branches of its banks in other countries. This clever move is helping them dodge the financial
Did you know that central banks around the world hold huge amounts of gold? Why? Because gold is valuable, safe, and easy to sell when needed. Central banks—like those in the U.S., China, and Russia—see gold as a strong investment, especially during uncertain times. In fact, they hold about a
Bhavish Aggarwal, an Indian billionaire and the founder of Ola, a popular ride-hailing service, is making big waves in the electric vehicle (EV) world. His new goal? To challenge Elon Musk and Tesla by offering affordable electric cars for people in developing countries. Aggarwal, who also heads Ola Electric, recently
At a recent conference in New Delhi, Noel Tata from TATA International Ltd. proposed using the Indian rupee for trade between India and Africa, aiming to break free from the dollar’s dominance in global trade. This move is part of a broader “rupee revolution,” reflecting similar efforts by Malaysian Prime
Malaysian Prime Minister Anwar Ibrahim recently made his first official visit to India, from August 19 to 21. During his time in New Delhi, he spoke about a big idea—changing how countries handle money when trading with each other. He suggested that the world, especially countries in the Global South
Argentina’s $4.5 billion in gold reserves mysteriously vanished overnight, fueling suspicion and intrigue as President Milei’s administration admitted to moving some of it abroad without giving clear details on how much, where, or why. The government claims it’s safer to store the gold overseas to earn interest, possibly in London
In a groundbreaking development for digital finance and employment law, the Dubai Court of First Instance has made a historic decision that validates salary payments in cryptocurrency. This landmark ruling marks a significant shift in the United Arab Emirates’ legal landscape, reflecting a broader acceptance of digital currencies within the
China has thrown a wrench into the global supply chain by slapping new export controls on antimony metals, ores, and oxides, effective September 15. This move could spell trouble for American arms manufacturers who are heavily dependent on this crucial resource. Companies aiming to export these materials will now need
Fed up with the West’s economic war on a third of all nations through sanctions, a new group opposing these measures is emerging. Recently, Russian billionaire Mikhail Fridman, who’s been hit with sanctions, hired Tony Blair’s wife to fight a lawsuit against Luxembourg for freezing his assets. Meanwhile, banks like
