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China’s ruling Communist Party is encouraging the country’s biggest e-commerce company Alibaba to design and manufacture its own computer processor chips. President Xi has recently said that “Self-reliance is the foundation for t...

Japan belatedly joined several major nations in selling oil from its strategic reserves in an attempt to fight rising prices. The unprecedented multi-state release of crude oil has been championed by the Biden administration and has included key O...

Early data showing that the Omicron variant is not as serious as previous strains led to a rush of positive trading on Wall Street this Thursday. The S&P 500 was close to its record high from late November. Buoyed by positive gains from stocks...

The US Dollar flagged to a one-week low against other major currencies as investors shifted toward a more positive outlook for the global economy. Fueled by news that Omicron will not be as serious as previous variants, risk appetite has improved,...

The price of gold bullion rose for the first time since mid-November as investors responded to tightening monetary policy and the threat of Omicron by making safe-haven investments in the commodity. Market analysts had warned that risk aversion wo...

Fears over the growing threat of the COVID-19 Omicron variant have started to creep into stock market performances around the world. After Monday’s trading, the Dow Jones fell by 1.2%, continuing a downward trend that saw it lose 1.5% last w...

Bank of Japan Governor Haruhiko Kuroda announced this week that it was too early for the country to start changing its monetary policy to tackle inflation. The world’s third largest economy is set to lag behind other industrialized nations w...

Technology stocks in the US plummeted with news of tighter monetary policies coming into play soon. After the US Fed signaled the likelihood of three interest rate hikes next year, the Bank of England became the latest major central bank to announce...

Officials at the US Federal Reserve have announced a plan to increase the benchmark interest rate to 0.9% in 2022, up from the 0.3% indication from September’s meeting. Analysts say this equates to three rate hikes next year.  In the sa...

Faced with no other choice, the US Federal Reserve is expected to implement stronger measures to tackle inflation.  New Fed Chair, Jerome Powell, takes his seat with high inflation affecting the US economy. Consumer prices in the world’...

Asian stocks limped along in weak trading, fueled by fears over the Omicron variant. Meanwhile edgy investors, expecting a raft of central bank decisions this week, held back on trading. Hong Kong's Hang Seng Index slid by 1%, South Korea'...

Binance, the world’s largest cryptocurrency exchange, has ended its year-long attempt to set up a bourse in Singapore.  The Singapore arm of Binance, set up as a fiat-to-crypto trading platform, will wind down operations and close by Fe...

The CEOs of six major cryptocurrency companies appeared at a hearing before the House Financial Services Committee in the US Congress this week.  Crypto chiefs from FTX, Bitfury, Coinbase and others gave testimony to members of Congress durin...

Key currencies continued to trade cautiously as markets tried to figure out how the Omicron COVID variant would affect monetary policy.  The Australian dollar was steady at $0.7171, having made gains this week as investors looked towards risk...

US consumers struggling under the twin challenges of high inflation and elevated consumer prices are finally seeing some relief as the price of oil and natural gas comes down. The US national average price for a gallon of gas toppled to $3.35, a p...