#economy (135 Posts)
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Samsung C&T Plans to Build Massive Solar Power Plant in Indiana, USA
Samsung C&T Corporation is building a massive solar power plant in Indiana, USA. They are tightening the reins on expanding solar development projects, which they have pinpointed as a future growth engine. They are in full swing to leap forward as a global eco-friendly energy company. According to a report submitted to the Bartholomew County […]
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Shanghai Nickel Surges to Three-Month High Amid U.S. Sanctions on Russia
Nickel in the Shanghai Futures Exchange has reached its highest level in three months. This is due to the expansion of U.S. sanctions against Russia and growing concerns over supply in Indonesia. According to the Shanghai Futures Exchange (SHFE) on the 26th, the price of nickel in March closed at 135,220 yuan ($18,784.74) per ton […]
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US Congress Targets Chinese E-Commerce Giant Temu Over Forced Labor Allegations
Chinese e-commerce platform Temu has become a controversial topic in the U.S. political arena over the issue of forced labor. Temu's sales events are garnering increasing attention, and some lawmakers are calling for the company to be regulated...
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Critics Blame President Xi Jinping's Control Obsession for Struggles in Chinese Stock Market
China and Hong Kong stock markets leak $1.5 trillion in January aloneXi Jinping’s obsession with control is the biggest problem, critics sayThe outlook suggests the potential for a rebound similar to JapanGoldman Sachs: “Active fiscal easing and economic adjustment to consumption are necessary” It’s not just the Chinese economy standing at a crossroads. The Chinese […]
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China Condemns US Sanctions on Chinese Companies Supporting Russia
Six Chinese Companies Included in the U.S.’s SanctionsChina’s Ministry of Commerce, “We firmly oppose the disruption of trade order” China has objected to including several Chinese companies in sanctions imposed by the U.S. against companies supporting Russia. According to Reuters on the 26th, the Chinese Ministry of Commerce stated in a spokesperson’s statement, “China is […]
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Buffett Boost: Japan's Big Five Trading Companies Soar on Berkshire's Praise
Praises Japan’s big five trading companies in his annual letter Warren Buffett has once again energized the Japanese stock market. According to Bloomberg on the 26th (local time), Buffett, the chairman of Berkshire Hathaway, praised the five major Japanese trading companies (Itochu, Marubeni, Mitsubishi, Mitsui, Sumitomo) at length in his annual letter to shareholders on […]
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Samsung's Galaxy AI Sets New Standards: What to Expect from the S24 Series
The competition for AI phones is growing, led by Samsung Electronics' Galaxy S24, and Chinese manufacturers and Apple are also entering the market. The AI phone market is expected to drive innovation in ICT and provide direct benefits of AI technology to consumers...
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Nvidia's Stock Surge: Riding High or Ready to Burst?
Analysts have suggested it’s hard to see the sharp rise in Nvidia’s stock price after recording a fourth-quarter earnings surprise as a bubble. The factor that bursts a stock price bubble is a slowdown in sales, but the judgment is that Nvidia’s sales and operating profits can maintain a rapid increase. On the 26th, Eugene […]
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Saudi Sovereign Wealth Fund Pledges $70 Billion Annually for Vision 2030
[TheGuru=HongSungHwan Lee] Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), plans to invest KRW 90 trillion annually starting in 2026 to fulfill its Vision 2030. "We plan to increase our annual capital deployment to $70 billion (about 93 trillion won) after 2025," PIF Governor Yasir Osman Alumayan said at the Future Investment Initiative (FII) conference in Miami, U.S., on Nov. 22, according to industry sources. Currently, PIFs invest between $40 billion and $50 billion (about $53 trillion and $67 trillion) annually. The fund invests 70 percent of its funds in Saudi Arabia and 20 to 25 percent abroad. "The share of foreign investments has decreased, but the volume has continued to grow," Alumayan said. "PIFs invested $100 billion (about $133 trillion) in each country between 2017 and 2023, creating more than 103,000 jobs," Alumayan said, emphasizing that "we have made a significant contribution to the U.S. economy." The PIF is the world's sixth-largest sovereign wealth fund with $600 billion in assets under management and is a key source of funding for Vision 2030 reforms. It is chaired by Saudi Arabia's Crown Prince Muhammad bin Salman, the country's de facto ruler. Saudi Arabia is implementing Vision 2030, a mid- to long-term development plan to move away from an oil-centric economy. It is a strategic national evolution plan to reduce the Saudi economy's dependence on oil, diversify its economic structure, and promote healthcare, education, infrastructure, recreation, and tourism. The goal is to expand non-oil exports from 16% in 2016 to 50% in 2030...
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Kim Kardashian's Iconic Game Set to End: Fans Outraged Over Abrupt Termination
Kim Kardashian's mobile game 'Kim Kardashian: Hollywood', which was released under her name in 2014, has announced that it will be shutting down in April...
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Korean Semiconductors Caught in the Middle: Facing Pressure from U.S., China, and Japan
With US President Joe Biden's visit to South Korea, the semiconductor industry is facing the challenge of securing competitiveness. The U.S. and Japan are expanding with software competitiveness and subsidies, and China is also looking for a way out of the U.S.'s grasp.
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U.S. Allies Gear Up Against China's Trade Offensive in Electric Vehicles
US expresses concern over China's dumping attempts. Respond with allies and build a public 'battery united front'. Opportunities for Korean companies. Strategies to combat Chinese overcapacity and low processing taxes. U.S., EU pressure China's EV industry. China's overcapacity could hurt global markets...
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Investors Eye 'Sora': OpenAI's Breakthrough Technology Ignites Stock Market
The era of true multimodal AI has begun The importance of multimodal AI is increasingly recognized in the global artificial intelligence (AI) market. Open AI / Ascannio-shutterstock.com Global AI companies like OpenAI and Google are accelerating their competition to secure multimodal AI technology that can comprehensively analyze and understand complex data such as images, […]
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Goldman Sachs Predicts S&P 500 to Hit 5200 by Year-End
Amid the U.S. stock market continuously breaking records this year, investment bank Goldman Sachs has raised its year-end forecast for the Standard & Poor’s (S&P) 500 index. According to Bloomberg, on the 19th (all local time), Goldman Sachs revised its year-end S&P 500 forecast from the previous 5100 to 5200. This is a 3.9% increase […]
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China Faces Worst-Case Economic Scenario: Potential Financial Crisis in 2027
Predictions are surfacing that China’s economy, currently facing difficulties, could potentially lead to a financial crisis. The editorial cartoons from a media outlet hint at the plausible likelihood of such a scenario./Jingji Ribao. Currently, the worst-case scenarios primarily advocated by some foreign media and think tanks regarding China’s severe economic situation are being put forward. […]
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From UC Berkeley to Billionaire: How Masayoshi Son Built His $15.1 Billion Empire
SoftBank CEO Masayoshi SonUK’s Arm stock price surgeAssets increase by $3.8 billion There is a corporate executive whose assets have soared by 5 trillion won due to the sharp rise in the stock price of Arm, a UK semiconductor design company. Bloomberg reported on the 13th that “With the surge in Arm’s stock price, the […]
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Crypto Surge: Bitcoin Rockets to $52,000—Is Now the Time to Invest?
The price of Bitcoin has soared, breaking through $52,000. As of 7:23 PM on the 15th, according to CoinMarketCap, the price of Bitcoin is $52,284.26, up 1.94% from 24 hours ago. It’s also strong in South Korea. Currently, Bitcoin is trading at $53,483.99 on the virtual asset exchange UPbit and has surpassed $53,000 at $53,450.67 […]
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China's Employment Battle: $42 Billion Effort to Tackle Youth Unemployment
Amid China’s record-high youth unemployment rate last year, the Chinese government has reportedly invested around $42 billion to support employment. On February 14, Xinhua news agency and People’s Daily reported, citing the Ministry of Human Resources and Social Security, that there were 12.44 million new employees in China last year, and the central and local […]
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Bitcoin Surges Above $52,000, Hits $1 Trillion Market Cap
The current price of Bitcoin has exceeded about $52,000 (based on the Upbit exchange), pushing its market capitalization to over $1 trillion. According to the virtual asset (cryptocurrency) statistics site CoinGecko, at 9:50 AM on the 15th, Bitcoin was traded at $52,361.74, a 5.8% surge from the previous day’s average price on significant exchanges. Ethereum […]
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Musk Brings Chinese Suppliers to Mexico to Avoid U.S. Restrictions
According to a report by Bloomberg on the 14th (local time), Elon Musk, CEO of Tesla, is causing concerns for the U.S. government by inviting Chinese auto parts manufacturers to Mexico. According to the report, Musk is building a new Monterrey, Nuevo Leon, Mexico factory. At Musk’s request, many sources reported that Chinese auto parts […]