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Australia’s corporate regulator announced on Thursday that Kraken’s local operator has been fined A$8 million (approximately $5.1 million USD) for illegally offering a credit facility to over 1,100 customers in the country. The Australian Securities and Investments Commission (ASIC) stated that Bit Trade, the operator of Kraken in Australia, failed…

The dollar strengthened against European currencies on Wednesday ahead of the highly anticipated U.S. inflation report, also supported by a Reuters report that China is considering allowing its currency to weaken next year, which led to declines in the yuan and other Asian currencies. The euro dropped 0.18% to $1.0508,…

Bitcoin showed little movement on Wednesday, stabilizing after a recent price decline as traders took a cautious approach ahead of key U.S. inflation data, which could influence expectations for interest rates. The world’s largest cryptocurrency remained within the $90,000 to $100,000 trading range established over the past few weeks, as…

China’s top leaders and policymakers are reportedly considering allowing the yuan to weaken in 2025 as they prepare for the potential imposition of higher trade tariffs under a second Donald Trump presidency in the United States. The proposed move underscores China’s acknowledgment of the need for stronger economic stimulus to…

Singapore’s economy is projected to grow by 3.6% in 2024, up from an earlier forecast of 2.6%, according to a survey by the Monetary Authority of Singapore (MAS) released on Wednesday. Monetary policy settings are expected to remain unchanged at the upcoming January review. The median forecast from 25 economists…

Most Asian currencies edged higher on Wednesday as the dollar softened ahead of a key U.S. inflation report, while attention turned to China’s annual economic policy meeting for potential new stimulus measures from the world’s second-largest economy. Investors remained cautious ahead of the U.S. Consumer Price Index (CPI) data, due…

Oil prices climbed on Wednesday as expectations grew for increased demand in China, the world’s largest crude importer, following Beijing’s announcement of more relaxed monetary policies aimed at boosting economic growth. Brent crude futures rose 36 cents, or 0.5%, to $72.55 per barrel by 0430 GMT, while U.S. West Texas…

Gold prices hovered near a two-week high in Asian trading on Wednesday, supported by geopolitical tensions in Asia and the Middle East, which bolstered safe-haven demand. The precious metal also saw buying interest as markets adopted a cautious stance ahead of critical U.S. inflation data set to be released later…

South African business confidence achieved its largest year-on-year growth in nearly two years this November, driven by increased tourist activity, rising precious metal prices, and stronger new vehicle sales, according to data released on Tuesday. The South African Chamber of Commerce and Industry (SACCI) noted that optimism regarding the country’s…

Stellantis (NYSE: STLA) and Chinese battery manufacturer CATL announced plans to invest €4.1 billion ($4.33 billion) in an electric vehicle battery factory in Zaragoza, northern Spain. The joint venture, equally owned by both companies, aims to commence production by late 2026. The plant’s capacity could reach 50 gigawatt-hours, contingent on…