1. U.S. Markets Await Fed Meeting Minutes

Stocks in the U.S. market traded near all-time highs as traders look forward to minutes from the Federal Reserve meeting. Investors are also looking for clues on stimulus and interest rate changes to see how inflation rates will be kept under control while it is likely to turn out as a non-event.

The market is trying to stabilise after yesterday’s random fall. Nasdaq hit an all-time high on opening today but fell. 

Stoxx Europe is up by 0.64%
Dow Jones is up by 0.15%
NASDAQ is down by 0.22%

2. Didi Co-founders Loses $1.5 Billion In Two Days

Co-founders of Didi, Cheng Wei, and Jean Liu lost $1.2 billion(Rs 8,970 crores) and $300 million(Rs 2,242 crores) respectively in just two days, an after-effect of app removal by China. The stock fell more than 30% during the last five days. The fall started after China’s decision to open an investigation and remove the app from stores over Mega US IPO drama. 

3. Emperador Looking For Singapore Listing

The biggest liquor firm in the Philippines –Emperador is considering the possibility of getting listed in Singapore and raise $742 million(Rs 5,547 crores). This will be the second listing of the company after Mania, Philippines. Emperador is controlled by Alliance Global Group and the products are available in 55 countries.

4. Yandex To Launch  Electric Scooter Rental In Russia

The Russian Giant Yandex on Wednesday announced the plans to launch electric scooter rental services in Moscow, Russia. The company said the demand is rising in the city and the service will be launched in the Yandex. Go app soon. The shift towards Electric Vehicles is good for any country.

5. Amazon Shares Takes Jeff Bezos’s Wealth To $211 Billion

The wealth of Jeff Bozos hits a record number of $211 billion(Rs 1,577,414 crores) after Amazon’s share rises up on Pentagon’s cancellation of the cloud-computing contract with rival Microsoft Corp.  The rally raised Bezos’s wealth by $8.4 billion(Rs 62,797 crores).

6. Saudi Aramco plans to Raise Tens of Billions of Dollars

Saudi Aramco has said it is planning to raise billions of dollars by selling more stakes in its businesses. The world’s largest oil company has already raised $12.4 Billion(~Rs 92,700 crores) by selling rights over oil pipelines to a group of investors three months ago.

Aramco aims to generate “double-digit billions of dollars” over the next few years, according to Abdulaziz Al Gudaimi, senior vice president for corporate development. The company plans to increase spending plans while cutting debt and paying $75 Billion in dividends to the Saudi Government.

7. South Kora and Netherlands Expand Chip Manufacturing Deal

South Korea and the Netherland’s heads of state have agreed to expand cooperation on manufacturing and trying to make the most advantage of the current global semiconductor shortage. 

Semiconductor shortage has become a major political concern, as U.S. and China both try to expand sand secure supply chains for the critical component in all modern electronics.

In 2020, Korean giant Samsung’s market share in the semiconductor industry worldwide was 12.4% with Dutch company ASML also holding a significant market share.

8. Binance CEO Defends his Firm Amid Regulatory Investigations

Binance CEO Changpeng Zhao has said that his company has not gotten everything right, and blamed the firm’s problems on rapid growth. “We are learning and improving every day. We hope to clarify and reiterate our commitment to partner with regulators”, in a recent blog post. 

The exchange, the world’s largest by turnover reported has been under regulatory scrutiny around the world from the U.S., the U.K to Thailand and Japan.

9. Crude Oil falls with OPEC+ Uncertainty

Oil prices fell sharply once again as the dollar strengthens and the argument between Saudi and the United Arab Emirates. West Texas Crude has fallen as much as 3% in early trade in New York.  

The OPEC+ uncertainty has been shaking crude oil prices in the last many days, as we have discussed here 

Latest

Advertisement