India joins Bank of Canada and RBA in pausing rate hikes. RBA’s decision disappointed economists who expected a 25bps hike, marking its first pause since May 2022.
Last week, Malaysian Prime Minister Anwar Ibrahim proposed the creation of an Asian Monetary Fund to reduce dependence on the US dollar. China and Malaysia are expected to discuss the proposal.
The French geopolitical expert Renaud Girard has stated that the weaponization of the dollar has backfired on the United States.
The intelligence wing of the Indian Ministry of Finance, the Directorate of Revenue Intelligence (DRI), has raised allegations that a firm linked to Adani’s infrastructure projects is owned by a Chinese national.
Russian oil-based fuel has found a backdoor entry into Europe through India, as per reports. Due to Europe’s ban, Russia’s oil products were kept out, which resulted in India’s diesel exports to Europe rising by 12-16% to 150,000-167,000 barrels per day in the last fiscal year.
According to a new report published by the AidData research lab at Virginia’s College of William & Mary, the number of countries that were bailed out by Chinese loans when they ran into liquidity problems between 2000 and 2021 is 22.
The Wall Street Journal reported today that McDonald’s is temporarily shutting its US offices and preparing layoff notices.
The budget of the Indian union territory of Jammu and Kashmir (J&K), announced last month, is twice the size of Pakistan’s bailout request to the International Monetary Fund, according to documents.
According to reports quoting Russian official Alexander Babakov, the BRICS alliance is working to create its own currency.
