Japan has appointed Atsushi Mimura as its new top foreign exchange diplomat amid the yen’s plunge to a 38-year low against the dollar, sparking anticipation of imminent market intervention. Mimura, a veteran in financial regulation, replaces Masato Kanda, who recently led record-breaking yen-buying efforts. As the yen slid to ¥161
In a dramatic turn, the LockBit ransomware group has claimed to have stolen a vast trove of files from the US Federal Reserve and Evolve Bank and Trust, alleging a breakdown in ransom negotiations. The group threatened to release 33 terabytes of sensitive banking data if their demands weren’t met,
In 2024, the United Arab Emirates is set to become a millionaire magnet, attracting the most high-net-worth individuals (HNWIs) globally, thanks to its economic diversification and attractive tax initiatives. Meanwhile, China and the UK are expected to see the largest exodus of millionaires due to economic uncertainties and geopolitical tensions.
Discover the colossal scale of Saudi Aramco, Saudi Arabia’s national oil company, which holds an unmatched 259 billion barrels of oil and gas reserves, dwarfing all other global competitors. This vast resource base contributes significantly to Saudi Aramco’s staggering $1.8 trillion valuation, making it the sixth-largest company worldwide by market
In a shocking turn, the notorious ransomware group Lockbit 3.0 has declared it successfully breached the Federal Reserve of the United States, claiming to have stolen a massive 33 terabytes of sensitive banking data. The group issued a chilling ultimatum, demanding the Federal Reserve replace their negotiator and meet their
A new report by the World Risk Poll 2024, in collaboration with Lloyd’s Register Foundation, reveals startling insights into global economic resilience. Surveying 147,000 people across 142 countries, the poll asked how long individuals could manage basic needs like food and shelter without any income. The findings highlight a stark
Shark Tank India is embroiled in controversy as Pathik Patel, founder of Fit & Flex, accuses the show of unjustly targeting his brand for trademark violations. Patel claims Sony Entertainment Television blocked his social media accounts and suspended ads without warning, just weeks after his appearance on the show. Despite
Nairobi has erupted into chaos as angry Kenyans protest harsh new taxes and an eco-austerity program, leading to the burning of the parliament building. Lawmakers escaped through a tunnel after voting to pass the controversial Finance Bill 2024, which raises prices on essential goods like diapers and electronics. The situation
China’s Wison New Energies recently announced a sudden halt to their Russian projects, citing strategic concerns for their company’s future. This decision, made in response to US sanctions on Russia’s LNG industry, includes backing out of constructing crucial modules for Russia’s Arctic LNG 2 project. This project is pivotal for
