The U.S. dollar gained against a basket of currencies on Friday. As the diplomatic tensions are rising between the United States and China, the demand for safe-haven currencies increased. China’s treatment of the former British colony of Hong Kong became another reason for the stressed relationship between the countries. U.S. President Donald Trump also blamed …
U.S. dollar hit high as the tensions with China escalated Read More »
Hong Kong is a financial hub. Demonstrations that started a long time ago already affected the local economy. Moreover, there is a risk that tensions could rise as China plans to impose a new national security law on Hong Kong. Importantly, the draft law was announced at the annual National People’s Congress (NPC). The NPC …
Tensions in Hong Kong as China Plans to Impose a New Law Read More »
It is not a secret that crypto mining is a profitable business. However, one cryptocurrency startup found a way how to earn money even when they turn off crypto miners. The name of this startup is Layer1. Importantly, famous people such as billionaire Peter Thiel supports this startup. Interestingly, Layer1 started to install steel boxes …
Cryptocurrency Startup Layer1 and its Approach to Bitcoin Read More »
The management of the Uzbek agricultural wholesale company, BMB Export Global, and members of the Chamber of Commerce and Industry of Egypt held a videoconference yesterday. The parties discussed current agricultural prices and the possibility of cooperation. Egypt is ready to deliver fruits and vegetables that are not cultivated in the country, like plums, cherries, …
Egypt and Uzbekistan are opening markets for fruit Read More »
Apple and Google released their new smartphone technology to detects when a user has been exposed to the novel coronavirus. The software can be used to develop apps that check when a user has spent time near an infected user. Or it can be another user who later tests positive for the virus. Their new …
Apple and Google Release Software to Detect Virus Exposure Read More »
The world’s second-largest economy made an unusual decision as China decided not to set a target for its economic growth in 2020. The country made a rare decision due to uncertainties caused by the coronavirus pandemic. According to Chinese Premier Li Keqiang, his country will face certain factors that difficult to predict in its development …
China Made a Rare Decision by Abandoning a GDP Target Read More »
The euro skyrocketed to its highest point in three weeks. It traded at $1.0975 in Asia on Thursday. Emerging market currencies jumped as well, while the Swiss franc and Chinese Yuan both hit their highest points in weeks. However, the British pound stays under pressure due to inflation data. Traders argued about the Bank of …
Euro hit high on Thursday while the U.S. dollar declined Read More »
This week, multinational consumer electronics retailer Best Buy released information about the first quarter of 2020. Interestingly, net-income fell to $159 million or 61 cents per share. Thus, compared to the same period in 2019, net income dropped from $265 million or 97 cents per share to $159 million or 61 cents per share. Nevertheless, …
Best Buy Plans to Adopt to the Everchanging Environment Read More »
Sub-Saharan Africa has a huge remittance market, as people who left their home countries send billions of dollars every year. Nevertheless, they have to use slow and centralized remittance systems. Furthermore, such systems charge transaction fees as high as 9%. Interestingly, mobile payments are even more expansive than centralized remittance systems. Moreover, mobile payments charge …
Cryptocurrency as an Alternative to Remittance Systems Read More »
Here are the latest market charts and analysis for today. Check them out and know what’s happening in the market today. GBPAUD Trade tensions between the United States and China have prevented the Australian dollar from further pushing the GBPAUD pair lower. Instead, the trade tension gave an opening for the British pound to overtake …
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