The US House of Representatives passed the Biosecure Act on Monday, a bill aimed at restricting business with several Chinese biotech companies, including WuXi AppTec, BGI, and other firms, citing national security concerns. This move comes as US-China relations continue to deteriorate, strained by...

German car manufacturer BMW has revised its 2024 projections downward because of the halt in deliveries and recall of certain vehicles with faulty integrated braking systems (IBS) from a supplier. Based on the company's official statement, over 1.5 million vehicles are impacted by the IBS issues....

China's leaders have eased certain limitations on foreign investment in the economy to promote growth, according to The Wall Street Journal. The State Development and Reform Committee and the Ministry of Commerce of China announced in a joint statement that only 29 industries will remain closed to...

The rise of hybrid car sales is providing an unexpected boost to the demand for platinum group metals (PGMs), such as platinum and palladium, despite the slowing growth in electric vehicle (EV) sales. This shift is reminiscent of the extended lifespan now predicted for coal, as industries once...

World Bank President Ajay Banga emphasized the need for faster, more efficient processes in the global lender's operations during a speech at the Lowy Institute think tank in Sydney on Tuesday. After visiting 27 countries, ranging from Peru to Tuvalu, Banga reflected on the increasing polarization...

Germany intends to begin decreasing its ownership in Commerzbank AG, which was obtained during the financial crisis of 2008-2009, reports The German Financial Agency (Deutsche Finanzagentur). The government has a 16.49% stake in Commerzbank. According to estimates by FactSet, this stake is valued...

Ukrainian authorities anticipate the IMF will ask Kiev to accelerate the devaluation of the hryvnia, decrease interest rates, improve tax collection, and increase taxes this week, according to sources cited by Bloomberg. According to the IMF, these measures will assist Ukraine in addressing its...

Chinese company ByteDance, the company behind TikTok, is currently working on securing a $9.5 billion three-year bank loan, as reported by Bloomberg based on sources familiar with the matter. If given the green light, it will be the biggest non-Japanese corporate dollar loan in Asia. The loan...

As China prepares to host a summit with 50 African nations in Beijing this week, the focus will be on the evolving economic relationship between the two regions. While China is keen to promote its goods, particularly electric vehicles (EVs) and solar panels, before Western export curbs take effect,...