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US Treasury Completes New Regulations For Crypto Tax Reporting

The U.S. Treasury Department has finalised a regulation mandating that cryptocurrency brokers—including exchanges and payment processors—report to the Internal Revenue Service any updates regarding users' sales and swaps of digital assets.   The new regulations, which are a result of the $1...

Regulations On Rare Earths Are Issued By China To Better Safeguard Indigenous Supplies

In the sake of national security, China has released a list of rare earth restrictions that restrict the mining, smelting, and trading of these vital elements, which are used to produce everything from consumer electronics to magnets for electric cars.   The State Council or cabinet issued...

With Deadline Drawing Near, US And India Prolong Their Digital Tax Truce Till Sunday.

The U.S. Treasury announced on Friday that the United States and India have extended their standstill agreement on U.S. retaliation over India's digital services tax until Sunday. This move puts the standstill agreement in line with the rapidly approaching deadline for a global agreement to...

World Markets Are Led By The Tech Boom During The First Half Of 2024

The first half of 2024 has been another whirlwind in global markets, marked by the relentless march of the megacaps, sloth-like central bank pivots, political palpitations aplenty, and the return of M&A.   Even if the expected worldwide interest-rate-cutting frenzy did not happen, the...

Red Sea Attacks Have A Worldwide Ripple Effect, As Seen By Singapore Port Congestion

The bottlenecks that have developed in other Asian and European ports are evidence of how extended vessel rerouting to avoid assaults in the Red Sea has impacted global ocean transport. The congestion at Singapore's container port is at its worst since the COVID-19 epidemic.   While many...

Chinese Alcoholic Beverage Producers Aim To Introduce Baijiu To Western Consumers

As sales of the Chinese liquor baijiu slow down at home, its producers are reformulating the spicy grain liquid to appeal to a larger clientele, including cocktail enthusiasts in New York, Los Angeles, and London.   Even while sales of baijiu are still growing in China, leading producers,...

NATO Funds $1.1 Billion On Robotics, AI, And Space Technology

The first round of enterprises to get cash from NATO's one billion euro ($1.1 billion) innovation fund has been recognised by a coalition of the group's members.   Months after Russia invaded Ukraine, in the summer of 2022, the alliance revealed the fund and pledged to invest in...

Increasing Demand From AI Is Driving Malaysia To Become A Power House For Data Centres

As demand for cloud computing and artificial intelligence soars, Malaysia is becoming a data centre powerhouse in Southeast Asia and throughout the continent.   The nation has seen billion-dollar data centre investments over the last few years, notably from major IT companies like Microsoft,...

Research Report Claims Viewers All Across The World Are Wary Of Newsrooms That Are Using More Of AI

A study by the Reuters Institute for the Study of Journalism revealed that worries about the use of artificial intelligence (AI) in news creation and disinformation are spreading throughout the world, which will make it harder for newsrooms that are already having trouble connecting with viewers....

Huge Withdrawals From Global Equities Funds Were Seen In Advance Of The Fed Meeting

In the seven days leading up to June 12, there were significant withdrawals from global equities funds as investors withdrew capital cautiously in anticipation of a crucial U.S. inflation data and a Federal Reserve policy decision that might impact the short-term outlook for interest rates.  ...

China's Inflation Is Stable, Keeping The Demand For Further Stimulus High

While production price drops abated in May, China's consumer inflation remained stable. However, the underlying pattern indicates Beijing would need to take further action to support weak domestic demand and an uneven economic rebound.   Despite many rounds of support measures, weak demand...

US Consumer Prices Were Unchanged In May, Against Forecasts Of A Little Increase

With lower petrol, U.S. consumer prices unexpectedly remained steady in May. However, given the continued strength of the labour market, inflation is probably still too high for the Federal Reserve to begin reducing interest rates until September.   The Labour Department's Bureau of Labour...
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