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Evergrande to sell stake worth US$1.5 billion in Shengjing Bank
September 29, 2021 02:01 AM PDT| 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 12:19 AM PDT| 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 28, 2021 11:19 PM PDT| 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 28, 2021 08:03 PM PDT| 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 28, 2021 06:13 PM PDT| 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...
US indices close in red as tech, consumer stocks slump
September 28, 2021 02:42 PM PDT| By Sanjeeb BaruahBenchmark US indices closed in red on Tuesday, September 28, after broad losses across stock segments and investors weighed weak consumer confidence data, raising concerns about an economic slowdown. The S&P 500 was down 2.04% to 4,352.63. The D...
Phone Scam explosion in Australia report a loss of A$211 million
September 28, 2021 03:17 AM PDT| 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 27, 2021 11:56 PM PDT| 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 27, 2021 10:05 PM PDT| 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 27, 2021 07:32 PM PDT| 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...
Dow Jones closes higher, S&P 500, Nasdaq drift after tech losses
September 27, 2021 02:15 PM PDT| By Sanjeeb BaruahDow Jones closed higher on Monday, September 27, pulled up by gains in financial and energy stocks, while Nasdaq Composite and S&P 500 retreated as losses in technology shares deepened. The S&P 500 fell 0.28% to 4,443.11. The Dow Jones rose...
Now, Facebook wades into Instagram Kids row, halts project: Know more
September 27, 2021 12:29 PM PDT| By Team Kalkine MediaHighlights Facebook halts planned development of a new Instagram Kids feature for children below 13 years. The decision comes ahead of the US Senate’s discussion on the risks posed by social media platforms to children’s mental heal.....
Ethereum developer Griffith enters plea-bargain to evade long jail term
September 27, 2021 11:45 AM PDT| By Team Kalkine MediaHighlights Griffith faces a 20-year prison term for violating the Emergency Economy Powers Act. His sentence could be reduced to a maximum of six-and-a-half years under the plea-bargain. Griffith’s sentencing is expected to take place in .....
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Why is Axion crypto grabbing limelight today?
September 27, 2021 01:43 AM PDT| 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 01:10 AM PDT| 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 12:04 AM PDT| 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 26, 2021 09:05 PM PDT| 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 26, 2021 09:04 PM PDT| 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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UK mulls ban on China’s investment in the nuclear energy sector
September 26, 2021 02:13 AM PDT| By Sreenivas D AjankarThe UK government plans to bring guidelines for the nuclear power stations that would ban the Chinese firms’ investments in the UK nuclear energy sector. The government’s plan to restrict investment from China is because of security con.....
German general election 2021: Who could replace chancellor Merkel?
September 26, 2021 01:29 AM PDT| By Sreenivas D AjankarHighlights Germany is voting today to elect a new chancellor. Eligible voters will cast their votes to elect members for 598 seats across 299 districts. The new government’s biggest challenge will be bringing Germany back on a growt.....
