Author: News Room

People’s Bank of China (PBOC) Deputy Governor said on Thursday that “there is still room for cutting the Reserve Requirement Ratio (RRR). Further comments Will promote effective investment, help resolve excess capacity. China’s monetary policy has ample room. Will keep Yuan basically stable. Expect China’s nominal economic growth to be around 8% in 2024. Will maintain appropriate growth in credit and total social financing. Central bank’s expected goal on 2024 total social financing growth implies bid to promote price rises. Will guide banks to lower deposit rates, lower financing costs. Will support consumption,, investment, promote rebound in prices. Market reaction At…

Months after completing phase 1 of its central bank digital currency (CBDC) pilot, Hong Kong is set to begin the second phase of experiments before a commercial rollout in 2025. In a disclosure, the Hong Kong Monetary Authority (HKMA) said the new iteration of the e-HKD is intended to explore new use cases for the CBDC in both retail and wholesale verticals. Phase 2 of the e-HKD Pilot Programme has been launched to explore the potential of a digital Hong Kong dollar in the areas of programmability, tokenisation and more. Do not miss out on this opportunity to make your…

Singapore made global headlines last year when the government announced that biometric processing will replace travel document verifications at Changi Airport in the first half of 2024. But the city-state is going “passport-free” in another area: its land border with Malaysia.From Tuesday, people traveling by car between Singapore and Malaysia can show self-generated QR codes rather than handing over their passports at two checkpoints.The new rule, which applies to those traveling via the country’s Woodlands and Tuas checkpoints, will expedite immigration clearance “without compromising on security,” according to Singapore’s Immigration & Checkpoints Authority.Who is eligibleSingapore residents and foreign travelers can…

Donald Trump’s leadership PAC spent more on legal expenses than it took in last month, a new filing shows – underscoring the steep financial toll of the myriad legal cases the former president faces. The Save America leadership political action committee – which Trump has used as a vehicle to help underwrite lawyers’ fees incurred by him and allies – spent nearly $5.6 million on legal bills in February, according to a Wednesday night filing with the Federal Election Commission. Those expenses exceeded Save America’s total receipts, most of which came in the form of a $5 million refund that…

Topline Federal Aviation Administration chief Michael Whitaker criticized Boeing’s safety culture in an interview with NBC, arguing the company has prioritized production rather than safety, the latest criticism levied at the aircraft manufacturer following a January incident in which a Boeing 737 MAX 9 door plug blew out in the middle of an Alaska Airlines flight. Key Facts Whitaker told NBC anchor Lester Holt in an interview preview (the interview is set to air on “NBC Nightly News” at 6:30 p.m. on Tuesday) that Boeing’s priorities have “been on production and not on safety and quality,” citing a culture survey…

The city of Baltimore will sell more than 200 city-owned abandoned homes to residents starting at just $1 each in an effort to revive some of its roughest neighborhoods.A city board approved the measure on Wednesday in a 4-1 vote, according to The Baltimore Sun.The Maryland city’s crime rates have led to a surplus of vacant homes in certain neighborhoods. According to the city, there are about 15,000 abandoned properties in Baltimore. The $1 home project approved this week targets about 200 of those city-owned residences. The properties will be marketed to Baltimore residents who commit to restoring and living…

As her Tesla was sinking in a pond just before her death, Angela Chao called her friend she had just had dinner with at her Blanco County, Texas, ranch and told her she loved her, according to a newly released incident report from the Blanco County Sheriff’s Office.Chao, who was the chair and CEO of the shipping company the Foremost Group, died in the early hours of Sunday, February 11. Chao was also the wife of Jim Breyer, the venture capitalist founder of Breyer Capital, and the sister of former cabinet secretary Elaine Chao, who is married to Senate Minority…

By Jamie McGeever ORLANDO, Florida (Reuters) – Fed policymakers on Wednesday kept their 2024 U.S. interest rate projection unchanged, but the floor for rates once cuts start is moving higher. In their quarterly Summary of Economic Projections, officials raised the median outlook for 2025 and 2026, and more importantly, increased their longer-run median interest rate outlook above 2.5% for the first time in five years. The median 2025 and 2026 rate views were raised by three tenths of one percent to 2.9% and 3.1%, respectively, and the longer-run rate was lifted by one tenth of a percentage point to 2.6%.…

GigaCloud Technology Inc (NASDAQ:) Chief Financial Officer David Kwok Hei Lau has sold a portion of his company shares, according to a recent filing with the Securities and Exchange Commission. The transaction occurred on March 19, with Lau selling 2,619 Class A Ordinary Shares at a price of $30.50 per share, resulting in a total sale value of approximately $79,879. This move by the CFO of GigaCloud, a company categorized under the retail-catalog and mail-order houses industry, has adjusted his total direct holdings to 27,803 shares following the transaction. The sale price remained consistent at $30.50 for all shares sold.…

ASX 200 retraces its intraday gains amid positive Australian employment figures. Australia’s private sector activity marked its second consecutive month of expansion in March. The S&P 500 reached 5,200 after the Fed maintained rates at 5.5%. The ASX 200 Index relinquished its intraday gains and slipped into negative territory, trading near 7,740 on Thursday. This reversal could be attributed to the positive Employment data from Australia. The seasonally adjusted Employment Change for February surged to 116.5K, surpassing expectations of 40.0K and the previous figure of 15.3K. Additionally, the Unemployment Rate increased by 3.7%, lower than the anticipated 4.0% and the…