Citi Ventures Makes First Crypto Seed Investment in Startup Xalts

“The world has changed a lot, you know with the macro environments and obviously markets have been suffering as a result of that,” Luis Valdich, a managing director at Citi Ventures, said in an interview. “Obviously we are very prudent in terms of where to and how to deploy capital, but we’re absolutely active with … Read more

Gold Falls After Two-Day Surge With Fed Rate Stance in Focus

“Gold’s bottom is in place now that the US is showing clear signs the labor market is softening,” Ed Moya, senior market analyst at Oanda, said in a note. As long as the US nonfarm payrolls do not see an “extraordinary strong print”, gold should remain supported and may test the $1,750 an ounce, he … Read more

Zimbabwe Power Firm Secures Funds From India, State Media Says

The works on the 38-year old plant, only designed to run for 30 years, will start next year, it cited Shepherd Mukundi, general manager for Zimbabwe Power Company, as saying. The plant suffers frequent breakdowns due to aging equipment and is currently being expanded to add 600 megawatts of power by next year.

India Enters 5G Era as Debt-Laden Carriers Gird to Spend Billions

To capitalize on 5G, China has been rolling out smartphone apps and industrial projects such as super high-definition live streaming, remote manufacturing, virtual reality and robotic surgery arms. The country’s three state-owned carriers have introduced more than 25,000 such applications, according to a news article posted by the State Council on its website in August. … Read more

This Is What Life’s Like in the World’s Strictest Covid Zero City

Seven times since last March, Ruili—on China’s Myanmar border—has felt the full force of Xi Jinping’s Covid Zero policy.

Is China Done With Its Market Crackdown? Ask Fosun

(Bloomberg Opinion) — Global investors are wondering these days if Beijing has decided to ease a yearlong regulatory crackdown that has cost them more than $1 trillion in losses. After all, China accounts for about one-third of the emerging markets benchmark index. It’s simply too big to be ignored. With no clear statement of policy on offer, asset managers have … Read more

It’s Every Nation for Itself as Dollar Batters Global Currencies

For starters, China is now the biggest trading partner of the US, Japan and countries across Europe. An agreement without Beijing’s participation would likely be an ineffective deal and while the yuan is under pressure versus the dollar and the government there is leaning against weakness with its fixings, it’s far from distressed levels that … Read more

ADB Cuts Developing Asia Growth View on Slowing China Expansion

The region is seen expanding 4.3% this year, according to the bank’s Asian Development Outlook Update released Wednesday, compared with a 4.6% projection in July. Growth in China, the largest economy in Asia, is expected to be slower at 3.3% against a 4% expansion seen previously.