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World news
How rough was September Effect this year?
October 01, 2021 12:42 PM AEST| By Furquan MoharkanHighlights The overall market sentiment was negative. S&P500 marked its worst show since September 2020. BOVESPA put up the worst show for the month. The month of September has seen far more corrections in equity markets than any othe.....
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NZ keen on exploring adoption of digital currency
September 30, 2021 07:09 PM AEST| By Jasmine AnandHighlights The RBNZ looking at possibilities to launch a digital currency. The Central Bank urged the public to send their feedback by 6 December. The official adoption of the digital currency would help to preserve monetary power and ma.....
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What’s chipping away at global supply chain?
September 30, 2021 04:47 PM AEST| By AayushHighlights The supply chain disruption has already left the world running short of several goods and services. The overstressed global supply chain is probably on the brink of collapse, as warned by some international bodies. These group.....
China’s manufacturing PMI data drags Hong Kong shares in red
September 30, 2021 03:18 PM AEST| By Furquan MoharkanHighlights The Hang Seng Index has crashed by over 1% APAC markets are tracking an unexpected shock contraction in China’s factory activity. Australian markets are the best performers in the region Shares in the Asia Pacific region .....
Here’s why the EA share price witnessed a wild ride in September
September 30, 2021 02:23 PM AEST| By AayushHighlights The release of Electronic Arts’ latest videogame, Battlefield 2042, has been delayed by almost a month. Despite a delay, the management stood firm on its previous guidance of US$6.85 billion in sales for 2022. The EA share pri.....
Evergrande founder's net worth takes a US$15.6 billion hit
September 30, 2021 12:34 PM AEST| By Furquan MoharkanHighlights Xu Jiayin, Evergrande’s founder, has lost the most among the world’s richest in 2021. Jiayin has seen his net worth plummet by 66.98%. Shares of Evergrande have crashed by a massive 78.29% since the beginning of 2021. .....
Evergrande to sell stake worth US$1.5 billion in Shengjing Bank
September 29, 2021 07:01 PM AEST| By Furquan MoharkanHighlights Evergrande is set to dispose of its entire stake in Shengjing Bank. The stake sale would fetch Evergrande US$1.5 billion. The company has a US$47.5 million bond interest payment deadline today. Embattled Chinese property .....
Will Evergrande debt bomb burst China’s housing bubble?
September 29, 2021 05:19 PM AEST| By Furquan MoharkanOne of the largest debt-laden realtors in the world, Chinese property giant Evergrande is saddled with a debt of nearly US$310 billion, which is 2.1% of the Chinese economy. The Evergrande debt crisis is no less than a ticking time bomb, which is lik...
How crypto assets are treated for tax purposes in NZ
September 29, 2021 04:19 PM AEST| By Jasmine AnandThe craze of owning and trading in cryptos is moving at an unprecedented pace. As per reports in 2019, the global cryptocurrency market stood at US$759.0 million and is forecasted to grow by 11.2% CAGR and reach US$1758.0 million by 2027. However,.....
Lukas Kamay – “The worst insider trading case”
September 29, 2021 01:03 PM AEST| By SamtaHighlights Lukas Kamay along with Christopher Hill, misused government data for their fortune. Kamay betrayed both the shareholders and his accomplice. Kamay and Hill used to communicate through burner phones registered to other people. .....
What is Rapid Antigen Testing? All you should know about it
September 29, 2021 11:13 AM AEST| By Furquan MoharkanA Rapid Antigen Test (RAT) is one of the quickest ways to test if you have COVID-19 infection or not. It is mostly used in situations when a patient needs it for quick clarity. The test is being widely used in the US, European countries, and India. N...
Phone Scam explosion in Australia report a loss of A$211 million
September 28, 2021 08:17 PM AEST| By Sonal GoyalHighlights A phone-based scam in which the users receive suspicious voicemails, texts and phone calls to steal personal data has fuelled this year in Australia. ACCC reported loss of AU$211 million this year. For the same period, AU$11,0.....
China faces double whammy as power crisis adds to Evergrande woes
September 28, 2021 04:56 PM AEST| By Furquan MoharkanIn a double whammy, the world’s second largest economy – China – has been grappling with a massive power crisis in its north-eastern region, besides battling the fallouts of an inevitable default by the embattled property develope.....
How are Bitcoin, Ethereum’s prices moving amid the Chinese crackdown?
September 28, 2021 03:05 PM AEST| By Jasmine AnandFollowing the ban on all forms of crypto trading in China, which was announced on Friday, the cryptocurrency market witnessed a sharp dip on Friday, as well as on Saturday and then experienced a rise on Monday. Related Read: Binance, Houbi cease o.....
Germany election results denote a shift in global voting pattern
September 28, 2021 12:32 PM AEST| By Furquan MoharkanBallot paper of the German Bundestagswahl 2009 (Bundestag elections). The centre-left party in Germany seems to be set to form the next government. The centre-left Social Democrats (SPD) were on track for 26% of the vote, ahead of 24.5% for Christi...
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Why is Axion crypto grabbing limelight today?
September 27, 2021 06:43 PM AEST| By SamtaHighlights AXN is trading 144.94% higher in the last 24 hours with a trading volume of US$1.48 million. Bitcoin fell by 0.345% on Saturday, following a 4.54% drop on Friday, ending the day at $42,714.0. Buyer can purchase AXN at a discounted r.....
Should pharmaceutical companies waive IP rights on COVID vaccines
September 27, 2021 06:10 PM AEST| By Tripti JoshiHighlights Waiving intellectual property (IP) rights would allow additional manufacturers to bypass the IP barriers and manufacture the COVID-19 vaccine. The patent protection waiver can provide some immediate relief in terms of the produ.....
China pumping billions into system to soften Evergrande blow
September 27, 2021 05:04 PM AEST| By Furquan MoharkanThe Chinese central bank – People’s Bank of China – has been pumping lot of cash into the system, as property developer China Evergrande’s default looms large on the world’s second largest economy. According to data c.....
Asia Pacific markets try to navigate out of Evergrande blues
September 27, 2021 02:05 PM AEST| By Furquan MoharkanHighlights Australia is today’s best performer in the region with 0.94% gain. Shares of Evergrande’s EV arm tanked in Hong Kong. APAC markets are in the green. The equity markets in the Asia Pacific region started the week on .....
Evergrande crisis: China’s debt trap comes home to roost
September 27, 2021 02:04 PM AEST| By Furquan MoharkanIn 2017, when Indian academic Brahma Chellaney coined the term debt-trap diplomacy – a situation where a powerful lending country seeks to saddle a nation with debt so as to increase its leverage over the borrowing nation – it did not hav...
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