Browsing Category

Business

Senate’s push for stablecoin regulation reform intensifies

Senator Kirsten Gillibrand announced plans to unveil new legislation aimed at regulating stablecoins, a move anticipated to occur as early as this week. Speaking at the Bitcoin Policy Summit held at the National Press Club in Washington on April 9, Gillibrand, alongside Senator Cynthia Lummis (R-Wyo.), disclosed ongoing negotiations to introduce…
Read More...

ADB projects India’s economy to grow steadily by 7% in FY2024

The Asian Development Bank (ADB) has revised its projection for India’s gross domestic product (GDP) growth in the fiscal year (FY) 2024, anticipating a solid expansion of 7%. This upgrade, disclosed in the latest release of the ADB’s flagship economic report, the Asian Development Outlook (ADO) April 2024, marks an increase from the previously…
Read More...

OPEC predicts 2.25 million bpd surge in global oil demand

The Organisation of the Petroleum Exporting Countries (OPEC) announced Thursday that it anticipates a surge in world oil demand, projecting an increase of 2.25 million barrels per day (bpd) in 2024 and 1.85 million bpd in 2025. In its latest monthly report, OPEC emphasized the robust fuel consumption expected during the summer months, maintaining…
Read More...

Fast-food giant McDonald’s buys out entire Israel franchise

McDonald’s Corporation has inked a deal to acquire all 225 outlets of its Israel franchise, the American fast-food giant announced. This move comes in response to a significant downturn in sales amid the ongoing Israel-Hamas conflict and subsequent pro-Palestinian boycotts. The restaurant chain’s outlets in Israel have been under the ownership of…
Read More...

Binance NFT announces halt on bitcoin NFT support

Binance NFT, a leading platform for digital collectibles, has announced its decision to discontinue support for Bitcoin-based Ordinal non-fungible token (NFT) collectibles within its marketplace. The announcement, made on April 4, 2024, calls for users to withdraw their Ordinal inscriptions from the platform by May 18, 2024. The move to end support…
Read More...

Bitcoin slides $5,000 amid rising treasury yields and dollar strength

Bitcoin experienced a significant drop of $5,000 within a span of 24 hours, as interest rates surged, marking the second consecutive day of decline for the cryptocurrency at the outset of the new month and quarter. This decline was influenced by the rising Treasury yields and the strengthening of the U.S. dollar. According to Coin Metrics, the…
Read More...

Bitcoin price dips below $70,000 amidst rising volatility

Bitcoin faced a downturn early Monday, slipping below the $70,000 mark as volatility surged in anticipation of this month’s looming block reward halving. Currently trading at around $69,565, Bitcoin experienced a 1.1% dip within the day, according to data from CoinGecko. Despite this, it retains a nearly 4% increase over the week. As the Bitcoin…
Read More...

US national debt crosses $141 trillion mark, crisis feared

A stark warning reverberates through the corridors of economic powerhouses as concerns mount over the trajectory of the United States’ national debt. Against the backdrop of a blockbuster report projecting a staggering $141 trillion debt burden by 2054, experts are sounding the alarm on potentially irreversible consequences for the American…
Read More...

Krispy Kreme and McDonald’s forge alliance for breakfast boost

In a strategic move aimed at enhancing their breakfast offerings, fast-food giant McDonald’s is set to expand its partnership with Krispy Kreme, a renowned doughnut chain. The collaboration will see Krispy Kreme’s signature doughnuts being offered at all McDonald’s locations across the United States by the year 2026. This significant development…
Read More...

Private equity surge in Japan defies Asia Pacific downturn

The private equity landscape across the Asia Pacific region witnessed a notable downturn in 2023, experiencing a decline of more than 23% in total deal value, as reported by Bain & Company. Amidst this trend, however, Japan emerged as a remarkable outlier, with its deal value skyrocketing by an astonishing 183% compared to the previous year.…
Read More...