Wednesday’s jaw-dropping stock-market rally on President Donald Trump’s surprising tariff reversal is one for the history books. The S&P 500 skyrocketed 9.52% in a kneejerk reaction to Trump’s announcement to put a 90-day pause on some of the lofty ‘reciprocal’ tariffs. The one-day gain ranks as the third biggest since World War II for the main stock market benchmark, according to […]
Donald Trump’s promised “Liberation Day” was originally planned for Tuesday, April 1, until the President told reporters last month he pushed it back 24 hours so it wouldn’t be viewed as an April Fool’s joke. “Nobody would believe what I said,” he explained. Perhaps he knew that his announcement on Wednesday, April 2, would sound a bit […]
The world’s 3,028 billionaires are spread across more than 800 cities around the globe, from Feldmeilen, Switzerland to Ezulwini, a small town in the western part of Eswatini–better known by its former name, Swaziland, in southern Africa. Yet nearly a quarter of them, worth a combined $3.3 trillion, have chosen to make their primary residence […]
The U.S. Department of Defense has awarded a combined $13.7 billion in launch service contracts to SpaceX, United Launch Alliance (ULA), and Blue Origin, marking the first time three companies will share responsibility for launching high-priority military and intelligence payloads. The contracts, announced April 4 by the U.S. Space Force’s Space Systems Command, are part […]
Oil prices plunged by 8 percent on Friday, heading for their lowest close since the midst of the coronavirus pandemic in 2021, as China hit back in an escalating global trade war with the US after President Donald Trump’s barrage of levies this week. China announced it will impose additional tariffs of 34 percent on […]
The likely implementation of tariffs imposed by the United States on April 2 means Europe will have to take better control of its future, European Central Bank (ECB) head Christine Lagarde said on Monday. “I’ve tried to describe this as a moment for our Europe… and I see it as the start of a march […]
China’s fury at the sale of Panama Canal ports to a US-led consortium reflects how container hubs have become prized currency as Beijing and Washington vie for global influence, analysts say. Hong Kong conglomerate CK Hutchison in March sold 43 ports in 23 countries – including operations in the vital Central American canal – to […]
Four Chinese state-owned banks announced plans on Sunday to introduce the Ministry of Finance (MOF) as a strategic investor through targeted share placements, with their boards having approved proposals to issue A-shares to designated investors. The initiative includes the Bank of China (BOC), China Construction Bank (CCB), Bank of Communications (BOCOM), and Postal Savings Bank […]
Nigeria is rapidly transforming its mining sector through bold reforms to attract investment, enhance local mineral processing, and reduce reliance on oil. With policy overhauls, investor incentives, and a focus on critical minerals, the country is positioning mining as a key driver of economic diversification. Government-led reforms in Nigeria’s mining sector are reshaping the industry, […]
Germany-based semiconductor manufacturer Infineon Technologies on Monday announced that it will set up a Global Capability Centre (GCC) at Gift City in Gujarat which will employ a total of 400 engineers. This is the first GCC that will be set up in Gujarat. The GCC at Gift City, Monday. Jochen Hanebeck, CEO of Infineon Technologies AG was […]