Oil prices edged lower on Monday amidst thin trading activity. A combination of factors, including concerns over a potential supply surplus in 2024, a strengthening U.S. dollar, and mixed signals about global economic growth, contributed to the dip in crude prices. On Monday, Brent crude futures had fallen by $0.66, or 0.9%, settling at $72.28…
The Central Bank of Nigeria (CBN) attributed this steady expansion to improvements in the non-oil sector, restrictive monetary policies to moderate inflation, and enhanced security measures in oil-producing regions.
Binance Founder, Changpeng Zhao has ignited a debate over cryptocurrency adoption in the United Arab Emirates (UAE) after taking to his social media account to share the figure, claiming the nation holds $40 billion in Bitcoin. Changpeng Zhao (CZ) tweet has sparked discussions across the crypto community, shedding light on the UAE’s rapidly growing role…
Asian shares hit fresh three-month lows on Friday as investors braced for pivotal U.S. inflation data, fueling anxiety over high price pressures. The financial world is on edge, awaiting the release of the Core Personal Consumption Expenditures (PCE) index, a critical inflation measure that could shape expectations for U.S. Federal Reserve policy in the coming…
South Korea’s financial authorities announced a change in policy on Friday, aiming to bolster foreign exchange liquidity and defend the South Korean won, which has plunged to its weakest level in 15 years. These measures reflect a major shift in the country’s foreign exchange policy, prioritizing flexibility and encouraging foreign capital inflows amidst mounting economic…
On Thursday, the Asian stocks slipped, trailing a sharp sell-off on Wall Street, as the U.S. Federal Reserve’s cautious tone on future rate cuts rattled investors. The Fed’s “higher for longer” policy stance and the Bank of Japan’s (BOJ) decision to hold interest rates steady added to market jitters. Meanwhile, the U.S. dollar climbed to…
Asian shares declined on Friday as investor hopes for substantial economic stimulus from China were dampened by a lack of concrete details at the Central Economic Work Conference (CEWC). Meanwhile, U.S. Treasury yields experienced their largest weekly rise in over a year, buoying the dollar and reflecting receding expectations for U.S. rate cuts in 2025….
In a significant step toward enhancing access to cryptocurrency trading in Asia, OSL Digital Securities, Hong Kong’s regulated crypto broker, has expanded its over-the-counter (OTC) offerings to include Toncoin (TON), the native token of The Open Network (TON). This move, announced in a press release on December 13, aims to meet the rising demand for…
Global stocks faced downward pressure on Thursday, with major Wall Street indexes seeing declines. The market turbulence followed significant moves by central banks, including the European Central Bank (ECB) and the Swiss National Bank (SNB), which announced interest rate cuts. The ECB’s decision to reduce rates for the fourth time this year and its openness…
Ukraine is making significant moves toward legalizing cryptocurrency, with a groundbreaking bill expected to be finalized by early 2025. This was made known by Danylo Hetmantsev, the head of the Ukrainian Parliament’s Committee on Finance, Tax, and Customs Policy, confirming the progress in an interview with Pravda. Hetmantsev revealed that the draft law is nearly…
