The United States and its allies have ratcheted up sanctions against North Korea in a bid to pressure the country to give up its nuclear ambitions. That might prove a losing strategy. In fact, economic sanctions could actually be bolstering Pyongyang’s business competitiveness as firms develop better methods of evading trade restrictions. That, in turn, […]
Read moreCurrency, United States Finance
Azerbaijan ran $2.8 billion 'secret slush fund' to pay off European politicians
Azerbaijan’s ruling elite ran a secret $2.8 billion slush fund for two years to pay off European politicians and pay for luxury purchases, an investigation has shown. The secret fund, dubbed Azerbaijani Laundromat, operated for two years until 2014 and was used by the government to win favor among international peers, according to the report […]
Read moreFinnish mobile games and animation studio Rovio Entertainment Ltd is considering to list its shares in Helsinki, bourse operator Nasdaq said on Tuesday. Nasdaq did not give further details, but said Rovio was due to hold a press conference later on Tuesday. Following years of falling earnings, job cuts and restructuring, Rovio returned to profit […]
Read moreChinese President Xi Jinping told an international summit on Tuesday that although the global economy had improved, risk factors had also increased. Addressing the “Dialogue of Emerging Market and Developing Countries,” Xi appeared to rebuke the United States’ recent resistance to international agreements — including the Paris climate accord. He said emerging and developing markets […]
Read moreChinese entrepreneur Li Hejun, who briefly held the title of China’s richest man, was just banned from Hong Kong’s business world A Hong Kong court ruled to disqualify Li from being a director or being involved with the management of any Hong Kong listed or unlisted company for eight years. That came as the court […]
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European markets set to open marginally higher despite lingering Korea tensions
European markets were set to open slightly higher on Tuesday morning, as geopolitical tension concerning North Korea kept investors at bay while markets lacked overnight guidance due to a Labor Day holiday in North America. The FTSE 100 is seen 6 points higher at 7,416; the DAX is expected to open up by around 15 […]
Read moreAustralia’s central bank left its cash rate at 1.5 percent on Tuesday, a widely expected decision given policy makers have signaled a steady outlook for some time to come. The Reserve Bank of Australia (RBA) made the announcement following its monthly policy meeting. A Reuters poll of 42 analysts had found all but one expected […]
Read moreSouth Korea said on Tuesday an agreement with the United States to scrap a weight limit on its warheads would help it respond to North Korea’s nuclear and missile threat after Pyongyang conducted its sixth and largest nuclear test two days ago. South Korean officials believe more provocation from the reclusive state is possible, despite […]
Read moreChina is poised to further tighten rules on virtual currencies after regulators on Monday banned virtual coin fundraising schemes, Chinese financial news outlet Yicai reported, citing sources. China banned and deemed illegal the practice of raising funds through launches of token-based digital currencies, targeting so-called initial coin offerings (ICO) in a market that has exploded […]
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The calendar may still say “summer” but everyone else is saying “fall,” a word that takes on a whole new meaning for the market when it comes to September. In the week ahead, there’s also a world seemingly at war to think about, more on the economy and some other bits and bites to consider. […]
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