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Showing posts with label ECONOMIC. Show all posts
Showing posts with label ECONOMIC. Show all posts

Tesla Cybertruck might have become the best-selling electric pickup truck in the US.

Tesla Cybertruck might have become the best-selling electric pickup truck in the US.
Tesla Cybertruck might have become the best-selling electric pickup truck in the US. If it wasn’t last quarter, it looks like it will be this quarter. Unfortunately, Tesla doesn’t break down its sales by model. The lack of transparency is frustrating as it makes it harder to…
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New Zealand's monthly exports valued at all-time high.

New Zealand's monthly exports valued at all-time high.
New Zealand's total monthly exports have reached an all-time high value of $7.2 billion, according to Stats NZ. It marks the first time the figure has surpassed $7 billion - the previous high for monthly exports was $6.95 billion in May 2023. Trade values are not adjusted…
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Nvidia passes Microsoft in market cap to become most valuable public company.

Nvidia passes Microsoft in market cap to become most valuable public company.
Nvidia, which is up more than ninefold since the end of 2022, has surpassed Microsoft to become the most valuable public company in the world.  The chipmaker passed the $3 trillion market cap mark in early June, joining Microsoft and Apple in that club.  Nvidia has been the p…
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Boeing CEO Dave Calhoun to step down.

Boeing CEO Dave Calhoun to step down.
Boeing (BA.N), CEO Dave Calhoun will step down by year-end in a broad management shakeup brought on by the planemaker's sprawling safety crisis exacerbated by a January mid-air panel blowout on a 737 MAX plane. In addition, board chair Larry Kellner and Stan Deal, head o…
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Top 10 richest people in Africa at the outset of 2024.

Top 10 richest people in Africa at the outset of 2024.
Africa continues to demonstrate its economic supremacy through a limited handful of the continent’s wealthiest individuals in the year 2024. This elite group, made up of visionaries and entrepreneurs, who navigates diverse industries to amass substantial fortunes. These 10 r…
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Nadia Calvino appointed as New President of the European Investment Bank.

Nadia Calvino appointed as New President of the European Investment Bank.
In a historic move, Nadia Calvino has been named the new president of the European Investment Bank, taking office on January 1. She succeeds Werner Hoyer to become the eighth president of the EU bank. Notably, Calvino is the first woman and the first Spaniard to lead this p…
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US national debt tops $34 trillion for first time in history.

US national debt tops $34 trillion for first time in history.
The U.S. federal government's total public debt has reached $34 trillion for the first time, the U.S. Treasury Department reported on Tuesday, as members of Congress gear up for another series of federal funding battles in the coming weeks. The Daily Treasury Statement f…
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Value of X has fallen 71% since purchase by Musk and name change from Twitter.

Value of X has fallen 71% since purchase by Musk and name change from Twitter.
The social media platform X has lost 71% of its value since it was bought by Elon Musk, according to the mutual fund Fidelity. Fidelity, which owns a stake in X Holdings, said in a disclosure obtained by Axios that it had marked down the value of its shares by 71.5% since Mu…
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Angola leaves OPEC in blow to oil producer group.

Angola leaves OPEC in blow to oil producer group.
Angola said on Thursday it would leave OPEC in a blow to the Saudi-led oil producer group that has sought in recent months to rally support for further output cuts to prop up oil prices. Angola's Oil Minister Diamantino Azevedo said the Organization of the Petroleum Expo…
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Binance sees $956 million in outflows after Zhao steps down.

Binance sees $956 million in outflows after Zhao steps down.
Investors pulled about $956 million from crypto exchange Binance over the past 24 hours, market data showed, after its chief, Changpeng Zhao, stepped down and faced prison time after pleading guilty on Tuesday to settle a years-long U.S. illicit finance probe. The deal, in w…
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Binance chief Changpeng Zhao pleads guilty to money laundering charges.

Binance chief Changpeng Zhao pleads guilty to money laundering charges.
The Binance chief executive, Changpeng Zhao, has resigned after pleading guilty to money laundering violations. "I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself", he said in a post on X. The Justice Depart…
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World Intellectual Property Indicators Report 2023.

World Intellectual Property Indicators Report 2023.
In 2022, the global landscape of intellectual property (IP) experienced significant changes and trends, as outlined in the World Intellectual Property Indicators (WIPI) report. While trademark and design applications dropped, patent filings saw an unprecedented surge, drive…
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Bill Gates’ assistant, is the 5th-richest person in the world.

Bill Gates’ assistant, is the 5th-richest person in the world.
Bill Gates’ former assistant at Microsoft is now the fifth-richest person in the world, per Bloomberg’s tally, and only one spot behind Gates on the real-time list of the world’s richest people. Steve Ballmer, who joined Microsoft as its 24th-ever employee in 1980, has seen …
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Sri Lanka’s official reserves estimated at USD 3.5 billion.

Sri Lanka’s official reserves estimated at USD 3.5 billion.
The level of gross official reserves of the country were estimated at around USD 3.5 billion as of the end of September 2023, according to the Central Bank of Sri Lanka (CBSL). However, this includes the swap facility from the People’s Bank of China to the tune of USD 1.4 bi…
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Tesla announces it produced its 5 millionth electric car.

Tesla announces it produced its 5 millionth electric car.
Tesla has announced that it has produced its 5 millionth electric car this week – a milestone that many nayswyers thought impossible not so long ago. I’ve been reporting on Tesla long enough to remember the days where most people in the auto industry thought Tesla would neve…
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South Africa Makes Huge Announcement on U.S. Dollar Supremacy.

 South Africa Makes Huge Announcement on U.S. Dollar Supremacy.
The BRICS alliance aims to pay in native currencies for global trade and end dependency on the U.S. dollar. The bloc of five nations will discuss using local currencies to strengthen their respective native economies. The Chinese Yuan and the Indian Rupee are being used for…
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Fed raises interest rates to highest in 22 years.

Fed raises interest rates to highest in 22 years.
The US central bank has raised interest rates to the highest level in 22 years as it fights to stabilise prices in the world's largest economy. The decision lifted the Federal Reserve's influential benchmark rate to a range of 5.25% to 5.5%. It marked the eleventh inc…
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World Investment Report 2023.

World Investment Report 2023.
The  UNCTAD’s World Investment Report 2023  reveals that foreign direct investment (FDI) inflows to developing Asia remained unchanged at $662 billion in 2022 compared to the previous year. However, the report highlights significant variations among countries in the region. Wo…
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41 Countries ready to accept BRICS Currency.

41 Countries ready to accept BRICS Currency.
The list of countries ready to join the BRICS alliance and accept the new currency is growing. From a set of 19 countries in April, the numbers have spiked to 41 by the end of June. A total of 22 new countries expressed interest to enter the bloc and ditch the U.S. dollar i…
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ADB appoints Takafumi Kadono as new Country Director for Sri Lanka.

 ADB appoints Takafumi Kadono as new Country Director for Sri Lanka.
The Asian Development Bank (ADB) has appointed Takafumi Kadono as the new Country Director for Sri Lanka, who has assumed office in Colombo today (03 July).  Mr. Kadono succeeds Mr. Chen Chen who ended his term as Country Director on 30 June 2023.  In a career spanning 23 yea…
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