Three of China’s Biggest Banks to Provide Support for Property Developers

  Backlink: VISIONTIMES Three of China’s biggest commercial banks have agreed to provide fundraising support to property developers, including industry giant Vanke, in a coordinated effort to support the country’s embattled property sector. It marks one of the latest moves by state-owned banks to respond to Beijing’s call to ease pressure on debt-laden developers and […]

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How China Uses COSCO Ships to Boost Its Political Influence Abroad

  Backlink: VISIONTIMES As of March of this year, state-owned COSCO Shipping owns and operates more than 400 container ships operating in and out of 558 ports worldwide, according to Statista. Along with hundreds of tankers and other vessels, COSCO has become one of the world’s top three largest port operators.       […]

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Dollar Advances Ahead of Inflation Data As Cryptocurrencies Crumble

  Backlink: VISIONTIMES The dollar regained its footing on Wednesday, Nov. 9 ahead of key U.S. inflation data due later in the day, while cryptocurrencies were fragile after a bailout deal for exchange FTX by its bigger rival Binance collapsed. The greenback surged overnight against its peers and held to those gains in early Asia […]

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Crypto, Stock Market, Narrowly Evade Crash After Third Largest Exchange Bailed Out by Competitor

  Backlink: VISIONTIMES The digital currencies market narrowly avoided a massive crash after news that the third largest exchange and its founder’s trading fund may be on the brink of insolvency emerged in the middle of the U.S. equities market trading day.       […]

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Oil climbs as dollar slips and supply risks linger

  Backlink: REUTERS Oil climbed on Friday as the dollar eased and supply risks lingered, though recession fears and China’s COVID outbreaks kept a check on prices. Brent crude futures were up $1.84, or 1.9%, to $96.51 a barrel at 0740 GMT. The contract is headed for a weekly climb of more than 0.5%. […]

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Fed Jacks up Interest Rates Again, Hints at Smaller Increases Ahead

  Backlink: VISIONTIMES The Federal Reserve raised interest rates by three-quarters of a percentage point again on Wednesday and said its battle against inflation will require borrowing costs to rise further, yet signaled it might be nearing an inflection point in what has become the swiftest tightening of U.S. monetary policy in 40 years.   […]

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US Has Only 25 Days of Diesel Supply; Shortage Could Cripple Economy

  Backlink: THE EPOCH TIMES The United States is down to 25 days of diesel supply as a top White House official declared the stockpile levels to be “unacceptably low.” Data provided by the Energy Information Administration (EIA) show that diesel stockpiles are at their lowest level for October in records that date back to 2008, according to a Bloomberg […]

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The Treasury Market Is the Fed’s Next Crisis

  Backlink: THE EPOCH TIMES The Federal Reserve’s next crisis is already brewing. Unlike 2008, where subprime mortgages froze counter-party trading in the credit markets as Lehman Brothers failed, in 2022, it might just be the $27 trillion Treasury market. When historians review 2022, many will remember it as a year when nothing worked. Such […]

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Exxon shares surge to record high on strong earnings outlook

  Backlink: REUTERS  Exxon Mobil Corp (XOM.N) shares passed their all-time high on Friday as oil prices resumed their climb and analysts raised their long-term views of top U.S. oil producer’s cash flow and earnings outlook. Exxon is leading a parade of record profits among oil majors this year after doubling down on oil during the pandemic, when energy […]

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Local fiscal deficit reaches $1 trillion, more pressure on China’s economy

  Backlink: THE BL In the first eight months of this year, the fiscal deficit of China’s 31 provincial-level administrative regions was 6.74 trillion yuan (about $948 billion), the largest deficit since 2012 when compared to local government statistics for the past 10 years, with Sichuan, Henan, Hunan and Guangdong having the deepest debts according […]

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