Siemens plans to invest $285 million in manufacturing in the United States, the tech company said Thursday, including two new facilities in California and Texas. The U.S. is the largest market for the company. The recent investments in the Siemens’ U.S. manufacturing footprint and the planned acquisition of Altair, a Michigan-based software company, mark more than $10 billion […]
The growing strength of stablecoins as a bridge between Web3 and traditional finance could give an edge to markets like Hong Kong, which has its currency pegged to the US dollar (USD), but the Asian financial hub still faces challenges in attracting major blockchain businesses. The Hong Kong dollar’s peg to the US currency is seen as a unique advantage […]
The US economy faces a potential slowdown in consumer spending amid “heightened uncertainty about the economic outlook” among businesses, the Federal Reserve chair, Jerome Powell, said on Friday. The central bank chief said the Fed will be in no rush to cut interest rates while it waits for more clarity on how the policies of the new Trump […]
The world’s biggest crude exporter said profits were down more than 12 percent to $106.25 billion in 2024, the second annual drop following a surge in oil prices in 2022. Expected dividends for 2025 also fell heavily to $85.4 billion, down from $124.3 billion announced for last year by the mainly state-owned company. Aramco is […]
BlackRock is adding a 1% to 2% allocation to the IBIT iShares Bitcoin Trust ETF in its target allocation portfolios that allow for alternatives and are aimed at investors with higher risk tolerance. BlackRock led a campaign to get a spot bitcoin ETF approved in the U.S. through 2023, with a fleet of bitcoin funds […]
Franklin Templeton has launched the Franklin OnChain US Government Money Fund, marking the “first fully tokenised Ucits product domiciled in Luxembourg” available to institutional investors across Austria, France, Germany, Italy, Liechtenstein, Netherlands, Spain, and Switzerland. The fund, which operates under the newly established Franklin Templeton OnChain Funds umbrella, is built on the Stellar public blockchain, […]
China announced Tuesday it would impose additional tariffs of up to 15% on some U.S. goods from March 10 and restrict exports to 15 U.S. companies. The retaliatory measures from China’s Ministry of Finance and Ministry of Commerce came just as additional U.S. tariffs took effect on Chinese goods. The additional Chinese tariffs largely cover U.S. agricultural goods, […]
Bitcoin’s price plunged nearly 10 per cent, as an escalating trade war and uncertainty over creation of a United States cryptocurrency reserve fund sent investors running from risk. After jumping on US President Donald Trump’s talk of creating a national cryptocurrency reserve, bitcoin and similar digital assets dove in the face of concerns it might […]
Austria’s OMV and Abu Dhabi’s ADNOC have struck a deal to combine their polyolefins business, creating a $60-billion major in the space, ADNOC said in a statement. The new company will be the fourth-largest polyolefins producer. The new company will also acquire Nova Chemicals for $13.4 billion to immediately boost its position in the chemicals and plastics […]
More than 44,000 new jobs are expected in Saudi Arabia after the Kingdom issued 1,346 industry licenses in 2024, an official report has revealed. The Ministry of Industry and Mineral Resources announced that the permits have also helped attract investments worth over SR50 billion ($13.3 billion), driving economic growth and diversification. The ministry added that […]