Recently, Japan’s central bank announced an increase in its benchmark interest rate to “around 0.25%” from its previous range of 0% to 0.1%. This adjustment marks the Bank of Japan’s highest interest rates since 2008. Despite this hike, the central bank highlighted that real interest rates are expected to remain “significantly negative,” and that “accommodative
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The United Arab Emirates is attracting a significant number of millionaires, positioning itself as the top wealth magnet globally for the third consecutive year, as per the Henley Private Wealth Migration Report. In contrast, the U.K. is projected to witness a decline of 17% in its millionaire population by 2028, according to Swiss bank UBS.
Over the weekend, Asia-Pacific markets saw a positive trend on Monday, with Japan’s Nikkei 225 taking the lead in gains after a key U.S. inflation report was released on Friday. This report raised hopes for a potential interest rate cut, which fueled optimism among investors. The Nikkei surged by 2.26% while the broader Topix index
The United States is set to unveil a significant overhaul of its military command structure in Japan, along with other measures to deepen defense ties with its Asian ally. This revamp is part of an effort to coordinate better with Tokyo on the growing regional threats emanating from China and North Korea. The announcement is
Bank of America recently highlighted Apple as a top buying opportunity in the technology sector. The investment bank raised its price target on the tech giant to $256 from $230, citing a strong performance ahead of the next iPhone cycle. Analyst Wamsi Mohan emphasized that Apple is firing on all cylinders, especially with the anticipated
Apple has been facing tough competition from domestic brands in China, leading to a decline in market share for the tech giant. In the second quarter, Apple dropped out of the top five smartphone vendors list in China, with its market share shrinking to 14%. This marks a decrease from 15% in the first quarter
Japanese stocks took a hit as the Nikkei 225 extended its six-day losing streak by plunging 3%. This decline was led by heavy losses in Nikkei heavyweight SoftBank Group, which nosedived 9%. Additionally, Renesas Electronics saw a more than 14% drop in its stock price. The broader Topix index also fell by 2.24%. Adding to
Britain’s King Charles III is in for a significant pay raise as profits at The Crown Estate have more than doubled, reaching a staggering £1.1 billion ($1.4 billion) in the 2023-24 financial year. This increase in profits has prompted a 50% rise in the taxpayer-funded Sovereign Grant, which supports the official duties of the Royal
Wiz, an emerging cloud security startup, recently made the bold decision to turn down a whopping $23 billion acquisition deal from tech giant Google. Despite the allure of such a significant offer, Wiz co-founder Assaf Rappaport explained in a memo to employees that the company would be sticking to its original plan of pursuing an
The recent news of U.S. President Joe Biden dropping out of the presidential race and endorsing Vice President Kamala Harris as the Democratic nominee has sent shockwaves through the Asia-Pacific markets. This unexpected turn of events was further compounded by China’s central bank deciding to cut rates on Monday. The short term 7-day reverse repurchase