In a bullish rally, the price of gold soared to a six-month peak on Monday, propelled by mounting investor confidence that the US Federal Reserve has concluded its interest rate hikes and a concurrent weakening of the US dollar. Spot gold prices experienced a 0.6% increase, reaching $2,014.55 per troy ounce, marking the highest level […]

China’s securities regulator, the China Securities Regulatory Commission (CSRC), announced its approval of three applications on Sunday for the launch of the nation’s inaugural publicly traded commercial Real Estate Investment Trusts (REITs) products. These REITs are supported by a portfolio of consumption-related infrastructure projects, marking a significant development in the country’s financial landscape. The initial […]

In a groundbreaking move, Colombia’s finance minister, Ricardo Bonilla, has revealed plans for the introduction of a Central Bank Digital Currency (CBDC) as part of a comprehensive initiative to regulate cryptocurrencies. Bonilla confirmed that the issuance of the CBDC will be overseen by the Bank of the Republic, emphasizing that the digital currency will serve […]

In a significant move bolstering its position in the rapidly growing Chinese mutual fund market, Fidelity International has successfully raised 5 billion yuan ($700 million) from investors for its inaugural fixed-income mutual fund in China. This accomplishment marks a strategic expansion for the asset manager in a market valued at $3.8 trillion. Helen Huang, Managing […]

In a surprising turn of events, hedge funds betting on a downturn in US and European stock markets have suffered staggering losses estimated at $43 billion amid a sharp rally over recent days. Short sellers, who had strategically positioned themselves against companies vulnerable to higher borrowing costs, found themselves on the wrong side of the […]

In a bid to support the beleaguered real estate sector, Chinese authorities have initiated the drafting of a list comprising 50 real estate firms eligible for financing. This strategic move has prompted a notable surge in both shares and bonds of Chinese developers, marking a significant rebound for the industry. A Bloomberg index tracking China […]

The ProShares Bitcoin Strategy ETF (NYSE: BITO), a trailblazer as the first U.S. ETF to mirror Bitcoin’s movements, has successfully amassed $1.4 billion in assets, anchored by its strategic focus on Bitcoin futures. This achievement comes at a pivotal moment for the financial industry, eagerly awaiting the U.S. Securities and Exchange Commission’s (SEC) verdict on […]

In the face of rampant inflation and economic instability, Bitcoin has achieved an unprecedented all-time high (ATH) in Turkey, reaching a staggering 1,076,038.99 Turkish Lira (TRY). The cryptocurrency’s ascent in the country gained momentum during the COVID-19 lockdowns in March 2020, propelling Turkey into a prominent position within the global crypto market. BlackRock CEO Larry […]

In response to escalating tensions between the United States and China, the Federal Retirement Thrift Investment Board (FRTIB), overseeing the main US federal government pension fund, has decided to exclude Chinese and Hong Kong-listed stocks. The $771 billion pension fund announced on Wednesday that it would alter the benchmark index for its international fund, marking […]

In a startling twist of fate, the Grok cryptocurrency (GROK) has encountered a severe setback, with its market capitalization nosediving from $160 million to $78 million. This drastic decline transpired in the wake of allegations pointing to fraudulent activities surrounding the digital currency. Despite enjoying rapid growth and boasting a substantial user base of over […]