Credit Suisse has already paid back some of the emergency liquidity offered by the Swiss National Bank (SNB), data suggested on Tuesday, signaling an ebbing of the liquidity crisis which triggered the lender’s fall. Sight deposits – cash held by commercial banks overnight with the SNB – fell by 31 billion Swiss francs ($34.3 billion)last […]
China
Major cryptocurrency bitcoin breached the key $30,000 level for the first time in 10 months on Tuesday, adding to its steady gains as investors raised bets that the U.S. Federal Reserve will soon end its aggressive monetary tightening campaign. Bitcoin peaked at $30,438 in Asian trade and was last 2% higher at $30,262. It has […]
The U.S. Energy Department (DOE) on Monday proposed reducing electric vehicles’ (EV) mileage ratings to meet government fuel economy requirements, a move that could force automakers to sell more low-emissions cars or improve conventional models. DOE wants to significantly revise how it calculates the petroleum-equivalent fuel economy rating for electric and plug-in electric hybrids for […]
Alibaba Group Holding Ltd on Tuesday showed off its generative AI model – its version of the tech that powers chatbot sensation ChatGPT – and said it would be integrated into all of the company’s apps in the near future. Called Tongyi Qianwen, the AI large language model drafted invitation letters, planned trip itineraries and […]
The US-China rivalry in Africa and the impact of digitalization on their competition are intensifying. With the growing importance of technology in Africa, both countries have been intensifying their efforts to gain influence on the continent. Digitalization has become a major force in shaping global politics, including the US-China rivalry in Africa. As the two […]
In this piece, we will explore the role of the telecom industry in the globalization of the gig economy. With the rise of high-speed internet and communication technologies, workers can now seamlessly connect with employees and clients globally. __________________ From pixels to paychecks, the gig economy has taken the world by storm, promising unprecedented autonomy […]
The U.S. war on China goes beyond Chinese hardware to now include its software. Can we afford slowing down technological advancements? The U.S. is not a fan of Chinese technology operating on its soil as it “strongly believes” that that could open it up to Chinese surveillance. And to drive that point home, late last […]
Blockchain technology is being used to promote sustainability and transparency across various industries. One area where it is making a significant impact is supply chain management. ____________________ Blockchain is not just a technological marvel, but also a catalyst for positive change. As the world grapples with urgent environmental challenges, blockchain is emerging as a formidable […]
The foreign ministers of Iran and Saudi Arabia met in Beijing on Thursday for the first formal gathering of their top diplomats in more than seven years, after China brokered a deal to restore relations between the top regional powers. After years of hostility that fuelled conflicts across the Middle East, Iran and Saudi Arabia […]
Among the French business executives travelling to Beijing with President Emmanuel Macron, the mood was cautiously sanguine on the thawing post-pandemic trade prospects with China, with some rejecting American-led calls for ‘decoupling’. Macron travelled to China with a 50-strong delegation of business leaders including the CEOs of Airbus, Alstom and EDF, raising eyebrows among some […]