Finance and Economy
On Wednesday (Oct 5), gas prices hit record highs in many parts of California. In some southern California locations, gasoline spiked to more than US$8.00 per gallon. Statewide, prices reached US$6.42 per gallon – nearly US$3 higher than the national average of US$3.83. While the blames are on regional refinery outages and Ukraine War, something else happened that […]
... written on Oct 07 2022Beijing knew it could not make “Yuan” (Renminbi) an internationalized currency overnight, nor could it replace the U.S. dollar’s dominance in the global system with the Chinese currency. China has US$3.0549 trillion in foreign exchange reserves (end of August) – the largest in the world. About a third – US$1 trillion – of its foreign […]
... written on Oct 05 2022Before then-Foreign Secretary Liz Truss won the confidence of the ruling Conservative Party to become the United Kingdom’s next prime minister, she was vigorously campaigning on the anti-China platform. Both she and former Chancellor of the Exchequer Rishi Sunak were competing with each other to win the anti-Chinese contest. She beat Sunak by 81,326 to […]
... written on Oct 03 2022Australian Facebook users were extremely anxious and worried after the country’s central bank reported a jaw-dropping loss of A$36.7 billion for the financial year 2020-21. All hell broke loose after “Real Money”, a column owned by U.S. financial media The Street, screamed at one of its articles – “Australia’s Central Bank Says It Is Bust”. […]
... written on Sep 30 2022Seismic stations in Sweden, Norway and Finland registered two explosions on Monday (Sept 26). One of the explosions registered a magnitude of 2.3. Seismologists immediately knew it was not an earthquake, but undersea detonations. It was followed by a series of unusual leaks on two natural gas pipelines running from Russia under the Baltic Sea […]
... written on Sep 28 2022So, you’ve finally decided to leave the country and start a new life internationally, and you’ve chosen Norway as your destination. Congratulations! Whether you’re seeking new opportunities or you’re getting away from the dumpster fire that is the American economy and politics, you’ll find Norway to be a fantastic change of pace. There’s a reason […]
... written on Sep 27 2022Ringgit officially breached the psychological RM4.50 to the U.S. dollar on Sept 13, 2022 – the lowest since the 1997-1998 Asian Financial Crisis. The Malaysian currency already plunged to its 24-year low on Sept 7 when it closed at RM4.5015 to the greenback. But for the next 3 trading days, it tried to pull back […]
... written on Sep 26 2022Walmart is the world’s largest company in terms of revenue. In the fiscal year ended January 31, 2022, the American multinational retail corporation’s revenue amounted to a whopping US$572.8 billion worldwide. That’s “half a trillion” in annual revenue from a retail giant that operates a chain of grocery stores, hypermarkets and discount department stores. […]
... written on Sep 21 2022India is the world’s top rice exporter, accounting for 41% of the global rice trade. Its total rice exports in the world last year (2021) reached 21.5 million tonnes – more than the total shipment from the next four biggest exporters – Thailand, Vietnam, Pakistan and the United States – combined. Rice is the staple […]
... written on Sep 20 2022During the 1997-98 Asian Financial Crisis, Ringgit dropped like a rock. In fact, the crisis the swept Southeast Asian countries into currency chaos had forced the Malaysian currency to depreciate by about 80%, from RM2.50 to RM4.50 per US dollar. At its worst level, the currency plunged to a record RM4.885 per dollar in 1998, […]
... written on Sep 15 2022
