No longer a financial reservoir? Saudi Arabia’s spending confirms clear shift in strategy
The kingdom’s $925 billion sovereign wealth fund, the Public Investment Fund, saw its assets jump 29% in 2023 — and domestic investment was a major driver.
Japan’s yen has seen wild swings this year — is it still a safe-haven asset?
Throughout most of 2024, the yen has seen weakness levels not seen since 1986, BOJ interventions, and a rapid strengthening after the BOJ raised rates.
Alibaba to upgrade Hong Kong listing in a bid to attract Chinese investment
Shareholders of Chinese e-commerce giant Alibaba have approved a plan to upgrade its Hong Kong listing to primary status, the company said on Friday.
Europe’s wineries battle to survive as extreme heat hurts production
Extreme weather is threatening production at southern Europe’s wineries, with one fine wine grape variety at risk of extinction.
Baidu reports slower growth in robotaxi rides
Chinese tech company Baidu is reporting slower growth in its Apollo Go robotaxi rides than in prior quarters.
Indonesia delays ratification of election law changes as protesters try to storm parliament
Ratification of changes to Indonesia’s election laws was halted Thursday as thousands protested outside parliament, with some trying to storm the building.
A recession is coming in the U.S., and ‘a few rate cuts’ won’t prevent it, says strategist
Contrary to what many believe, investment research firm BCA Research sees that the economy is on the cusp of a recession.
Gold miners ‘ripe’ for a break out: Analysts name stocks to buy into the gold rush
A number of analysts say the precious metal will go even higher, giving their predictions on prices.
Asia markets mostly lower ahead of Powell’s speech at Jackson Hole; Australia snaps 10-day win streak
While it is not exactly clear what Powell will say, he has previously used the speech to outline broad policy initiatives and to provide policy clues
Can a robot give a decent massage? We tested one at a luxury hotel in New York City
Lotte New York Palace is the first hotel to partner with Aescape, a New York-based robotics company that developed an AI-powered robot that gives back massages.
