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President Joe Biden proposed a sweeping new $1.8 trillion plan in a speech to a joint session of Congress on Wednesday, pleading with Republican lawmakers to work with him on divisive issues and to meet the stiff competition posed by China. He said, “China and other countries are closing in fast,” adding that he has spent a lot of time talking to Chinese President Xi Jinping.
Indian food delivery startup Zomato, backed by China’s Ant Group, filed for an IPO of up to 82.5 billion rupees ($1.11 billion) on Wednesday to cash in on a pandemic-led surge in online ordering. Indian food delivery market is estimated to be worth 4.2 billion USD which currently has three players Zomato and Accel backed Swiggy and Amazon. While Swiggy and Zomato dominate the Indian food delivery market, Amazon remains a relatively new and smaller player. Zomato logged a 98.4% jump in revenue from operations for the year ending March 2020, while its loss widened to 23.67 billion ru
Market Talk – April 22, 2021 | Armstrong Economics
armstrongeconomics.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from armstrongeconomics.com Daily Mail and Mail on Sunday newspapers.
Market Talk – April 15, 2021 | Armstrong Economics
armstrongeconomics.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from armstrongeconomics.com Daily Mail and Mail on Sunday newspapers.
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According to a study, some 75% of the world’s bitcoin mining is done in China. The reason given for this in the report is cheap electricity and relatively easy access to manufacturers who make specialized hardware. As a result, the nation’s bitcoin carbon footprint is as big as one of its ten largest cities, the report suggests. The research on China’s mining activities published by peer-reviewed journal Nature Communications on Tuesday was conducted by academics from the University of the Chinese Academy of Sciences, Tsinghua University, Cornell University and the University of Surrey.
India’s central bank, Reserve Bank of India (RBI) kept interest rates at record lows but committed to a massive government bond purchase program, keeping monetary policy accommodative amid concerns rising COVID-19 cases could derail a nascent economic recovery. The monetary policy committee decided unanimously to leave the RBI’s repo rate, its key lending rate, u
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China’s parliament on Thursday overwhelmingly endorsed a proposal on “improving the electoral system” of Hong Kong, further restricting the ability of people in the city to elect their leaders freely. Members of the National People’s Congress in Beijing voted 2,895 in favor of the proposal, with no votes against and one abstention. The decision includes a plan to alter the size and composition of the city’s legislature, increasing the number of seats from 70 to 90, therefore reducing the overall percentage of democratically elected officials.
India’s economy should come roaring back to life in 2021 after a recession-induced by COVID-19 and allow the country to reclaim its status as the fastest-growing major economy if the OECD projection of 12.6 percent expansion in GDP is realized, according to a report published by CNN Business It said India’s GDP is projected to expand by 12.6 percent during the country’s fiscal year starting in April, acco