Finance

China recently released its consumer price index data for August, revealing a 0.6% year-on-year increase. This figure fell short of expectations, with the forecast anticipating a 0.7% climb. The report highlighted a decrease in costs related to transportation, home goods, and rents, contributing to the lower-than-expected CPI. One of the notable points in the report
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Exchange-traded fund inflows have reached record levels in 2024, with managers predicting a potential impact from the money market fund boom before the end of the year. Nate Geraci, president of The ETF Store, highlighted the significant amount of $6 trillion parked in money market funds as a major factor to watch for the remainder
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Yi Gang, former head of the People’s Bank of China, emphasized the need for policymakers in China to prioritize boosting domestic demand during his speech at the Bund Summit in Shanghai. He highlighted the importance of focusing on combating deflationary pressure, particularly in the current economic climate. According to Yi, the key to addressing this
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Visa recently announced plans to launch a dedicated service for bank transfers, bypassing the use of credit cards and traditional direct debit processes. This new service, known as account-to-account (A2A) payments, is set to revolutionize the way consumers make transactions in Europe. By allowing users to set up direct debits directly from their bank accounts
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Zilch, a British financial technology firm, achieved a major milestone by reporting its first-ever month of profit. The company, which operates in the buy now, pay later space alongside competitors like Klarna and Block, managed to reach profitability within four years of its founding. This accomplishment is particularly noteworthy considering that other major consumer fintechs
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The British fund manager abdrn has predicted that the U.S. economy may experience a soft landing in the near future. However, there is still a looming risk of a prolonged slowdown in 2025, as highlighted by Kenneth Akintewe, the company’s head of Asian sovereign debt. During an interview on CNBC’s “Squawk Box Asia,” Akintewe raised
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