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Record Immigration From New Zealand As Economic Challenges Prompt Mass Exodus

Record numbers of New Zealanders are leaving the country, driven by rising unemployment, high interest rates, and sluggish economic growth, according to new government data. Statistics New Zealand reported on Tuesday that 131,200 people departed in the year ending June 2024, marking the highest...

India Won't Join A Global Tax Agreement Unless Its Reservations Are Resolved - Indian Official

According to a finance ministry official on Thursday, India would not join a worldwide corporate tax agreement targeted at extremely profitable multinational corporations unless its reservations about dispute resolution and the handling of withholding tax are resolved.   The "Pillar 1"...

Focus Is On European Banks' Profits Following Significant Increases In Share Prices

This week, the largest banks in Europe will release their second-quarter profits. All eyes will be on them to see if the current political turmoil has affected confidence or if the advantages from higher interest rates have peaked.   Although a second rate cut by the European Central Bank is...

US Has The Second-Longest Mine Development Schedule Globally. S&P Global Reports

Washington's efforts to increase output of lithium, nickel, and other metals for the energy transition are hampered by the fact that it takes an average of roughly 29 years to establish a new mine in the United States, the second-longest in the world after only Zambia, according to a report...

US Treasury Completes New Regulations For Crypto Tax Reporting

The U.S. Treasury Department has finalised a regulation mandating that cryptocurrency brokers—including exchanges and payment processors—report to the Internal Revenue Service any updates regarding users' sales and swaps of digital assets.   The new regulations, which are a result of the $1...

Regulations On Rare Earths Are Issued By China To Better Safeguard Indigenous Supplies

In the sake of national security, China has released a list of rare earth restrictions that restrict the mining, smelting, and trading of these vital elements, which are used to produce everything from consumer electronics to magnets for electric cars.   The State Council or cabinet issued...

With Deadline Drawing Near, US And India Prolong Their Digital Tax Truce Till Sunday.

The U.S. Treasury announced on Friday that the United States and India have extended their standstill agreement on U.S. retaliation over India's digital services tax until Sunday. This move puts the standstill agreement in line with the rapidly approaching deadline for a global agreement to...

World Markets Are Led By The Tech Boom During The First Half Of 2024

The first half of 2024 has been another whirlwind in global markets, marked by the relentless march of the megacaps, sloth-like central bank pivots, political palpitations aplenty, and the return of M&A.   Even if the expected worldwide interest-rate-cutting frenzy did not happen, the...

Red Sea Attacks Have A Worldwide Ripple Effect, As Seen By Singapore Port Congestion

The bottlenecks that have developed in other Asian and European ports are evidence of how extended vessel rerouting to avoid assaults in the Red Sea has impacted global ocean transport. The congestion at Singapore's container port is at its worst since the COVID-19 epidemic.   While many...

Chinese Alcoholic Beverage Producers Aim To Introduce Baijiu To Western Consumers

As sales of the Chinese liquor baijiu slow down at home, its producers are reformulating the spicy grain liquid to appeal to a larger clientele, including cocktail enthusiasts in New York, Los Angeles, and London.   Even while sales of baijiu are still growing in China, leading producers,...

NATO Funds $1.1 Billion On Robotics, AI, And Space Technology

The first round of enterprises to get cash from NATO's one billion euro ($1.1 billion) innovation fund has been recognised by a coalition of the group's members.   Months after Russia invaded Ukraine, in the summer of 2022, the alliance revealed the fund and pledged to invest in...
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