Forex

Growth in Russia’s services sector slowed to a three-month low in December due to weakening demand and increasing cost pressures, S&P Global reported on Saturday. The S&P Global Russia Services PMI Business Activity Index dropped to 51.2 in December, down from 53.2 in November. This marks the sixth consecutive month…

Cryptocurrencies are set to build on their strong performance in 2024, when the total market capitalization nearly doubled. However, broader adoption in 2025 will hinge on the ability of the crypto-friendly Trump administration to establish clearer regulatory guidelines to foster growth. “2024 was a standout year for crypto, with total…

Bitcoin continued its decline on Friday, driven by low year-end trading volumes, with investors remaining cautious about the future of cryptocurrencies following the Federal Reserve’s hawkish stance last week. At 01:30 ET (06:30 GMT), Bitcoin had dropped 2.1%, settling at $96,403.7. On Thursday, Bitcoin’s pullback was attributed to misleading chart…

Japanese manufacturing giant Nidec announced on Friday its intention to make an unsolicited bid worth 257 billion yen ($1.6 billion) for Makino Milling Machine, a surprise move in a country typically associated with agreed mergers and acquisitions. Nidec revealed that Makino’s board had not yet agreed to the offer of…

Oil Prices Steady, Set for Weekly Gains Amid Optimism on China Stimulus Oil prices remained largely unchanged on Friday but were on track for a weekly gain, buoyed by optimism that economic stimulus measures could drive a recovery in China, the world’s largest oil importer. By 0145 GMT, Brent crude…

Gold prices held steady during Asian trading on Friday, reflecting subdued activity typical of year-end trading. However, the precious metal is on track for a slight weekly gain amid caution following the U.S. Federal Reserve’s hawkish stance. Spot gold remained unchanged at $2,633.40 per ounce, while February gold futures dipped…

Core inflation in Tokyo picked up in December, while services inflation remained stable, according to data released on Friday. This bolstered market expectations for a potential interest rate hike by the Bank of Japan (BOJ) in the near future. However, factory output declined in November for the first time in…

Chinese workers at a construction site in Brazil for a factory owned by China’s electric vehicle giant BYD (SZ:002594) have been identified as victims of human trafficking, according to Brazilian labor authorities. This controversy is unfolding in BYD’s largest overseas market. In response, BYD and its contractor Jinjiang Group agreed…

China to Expand Budget Deficit and Increase Fiscal Spending in 2025 BEIJING (Reuters) – China plans to raise its budget deficit ratio, boost fiscal spending, and expedite expenditure in 2025, the finance ministry announced on Tuesday. The ministry stated that a larger issuance of government bonds will be arranged to…

Elon Musk’s xAI Secures $6 Billion in Series C Funding, Valued at Over $40 Billion xAI, the artificial intelligence startup founded by Elon Musk, announced on Monday that it has raised $6 billion in a Series C funding round. Key participants included tech giants NVIDIA (NASDAQ:NVDA) and AMD (NASDAQ:AMD), along…