China has launched anti-dumping investigations into European Union imports of brandy and pork, escalating tensions following the EU’s imposition of provisional tariffs on Chinese electric vehicles. The investigations, targeting products from France, Spain, the Netherlands, and Denmark, are seen as China’s response to pressure EU members into dropping tariffs on
In early April, Zimbabwe launched a new currency called Zimbabwe Gold (ZiG), fully backed by gold and foreign reserves, aiming to replace the US dollar within two years. President Emmerson Mnangagwa announced this at an event, predicting ZiG’s nationwide acceptance soon. Backed by 100 tonnes of gold and $100 million
Iranian Central Bank Governor Mohammad Reza Farzin revealed that Iran and Russia have finalized the integration of their payment systems, both targeted by Western sanctions. After meeting with Russian Central Bank officials at the St. Petersburg International Economic Forum, Farzin announced that Russia’s Mir payment system will soon be connected
In 2023, the median pay for S&P 500 CEOs hit a record $15.7 million, driven by a booming stock market. Some CEOs raked in nine-figure packages, with Hock Tan of Broadcom topping the list at $161.8 million, a whopping 510 times his median employee’s pay. This surge in executive compensation
Since the U.S. legalized sports betting in 2018, the industry has exploded, with annual gross gaming revenue skyrocketing from $400 million to a staggering $11 billion in just five years. This phenomenal growth is fueled by states like Nevada, New Jersey, and Pennsylvania, which embraced early legalization and robust regulations.
Egypt’s economic woes worsened under President Abdel Fattah el-Sisi, whose ambitious $300 billion New Administrative Capital project has exacerbated poverty and inequality. Sisi’s regime faces a severe debt crisis, forcing austerity measures that disproportionately burden the poor while enriching military elites and their allies. Despite massive investments in mega-projects, Egypt’s
In a startling development, Hindenburg Research has been accused by India’s securities regulator, SEBI, of colluding with a US asset manager to manipulate markets through insider information while shorting Adani Group stocks. The allegations, outlined in a “show cause” notice, claim Hindenburg provided a draft of its damning report on
Discover how Iran-backed Houthi rebels’ missile and drone attacks in the Red Sea and Gulf of Aden are causing chaos for global shipping routes. Major vessels, including tankers and container ships, are being rerouted around Africa’s Cape of Good Hope to avoid conflict zones, leading to unprecedented increases in shipping
Data analysis reveals a striking disparity in wealth across generations in the United States from 1990 to 2023. Despite comprising only 20% of the population, Baby Boomers owned more than half of the country’s net wealth by 2023. This generation benefited from favorable economic conditions, including robust stock markets and