Author: HeraldStar

Despite the Federal Reserve’s readiness to ease monetary policy, last week’s 4.3% decline in the S&P 500 has left market veteran Ed Yardeni perplexed. He believes another factor is at play: the unwinding of the carry trade. The carry trade, which involves borrowing cheaply in Japanese yen and investing in higher-yielding assets like US tech stocks, has been a popular strategy in recent years. However, when Japan tightens rates, as it did in August, the trade buckles, forcing traders to sell assets to cover margin calls. Yardeni points to hawkish interest rate comments from Bank of Japan Governor Kazuo Ueda…

President Abdulmadjid Tebboune has been declared the winner of Algeria’s presidential election, securing 95% of the vote, according to official preliminary results. However, the election was marred by allegations of irregularities, including pressure on polling station officials and instances of proxy voting, casting a shadow over the legitimacy of the outcome. Rival candidate Abdelaali Hassani Cherif’s campaign has disputed the results, claiming the candidate won far more votes than announced. In a joint statement, three presidential candidates, including Tebboune and Cherif, objected to the provisional results, citing ambiguity, contradictions, and vagueness in the electoral commission’s announcement. The election saw a…

Finance Minister John Mbadi announced on Monday that the government will solicit suggestions from the public on new legislation aimed at increasing revenue and addressing economic challenges. This move comes after protests forced the government to withdraw its financing law, leaving a significant budget deficit and delayed funding from the International Monetary Fund. Mbadi, who was appointed last month, stated that the government is struggling to manage its finances and has no choice but to continue servicing its debt, which exceeds the recommended level. He emphasized that debt restructuring is not an option and that the government will instead focus…

In an effort to drum up much-needed cash for the Kremlin’s war effort in Ukraine, Russia’s state-controlled nuclear entity, Rosatom, is promoting atomic energy as a “green” solution to Central Asia’s power problems. However, concerns about safety and haphazard operational practices threaten to undermine Rosatom’s efforts. Central Asian countries, including Kazakhstan, Uzbekistan, and Kyrgyzstan, are considering nuclear energy as a potential solution to electricity-supply challenges. Rosatom is seeking to build small, low-power nuclear reactors in the region, despite concerns about safety in a seismic zone prone to powerful earthquakes. Dmitry Konstantinov, Rosatom’s chief representative in Kyrgyzstan, attempted to dispel concerns…

In a significant diplomatic meeting, Chinese President Xi Jinping and Spanish Prime Minister Pedro Sanchez convened at the Diaoyutai State Guesthouse on Monday, emphasizing the need to elevate their bilateral relations to a new level with strategic commitment. The two leaders highlighted the importance of mutual respect, equal treatment, and fostering new dimensions in their bilateral relations, particularly in emerging areas such as artificial intelligence, digital economy, and new energy. They also agreed on strengthening cultural exchanges, language education, youth engagement, culture, and tourism to enhance people-to-people ties. Both leaders expressed their commitment to multilateralism, free trade, and international cooperation…

Renowned actor James Earl Jones, known for his iconic voice and prolific career, passed away on Monday at his home in Dutchess County, New York, at the age of 93. His death was confirmed by his representatives at Independent Artist Group. Jones’ distinctive deep voice brought to life iconic characters such as Darth Vader in the “Star Wars” franchise and Mufasa in Disney’s “The Lion King.” He had a storied career spanning over six decades, with numerous awards and nominations, including a Golden Globe, two Tonys, and two Primetime Emmys. Born in 1931 in Arkabutla, Mississippi, Jones overcame a childhood…

In a day marked by broad market gains, Kosmos Energy Ltd. (KOS) bucked the trend, shedding 3.85% to close at $4.00 on Monday. This marks the company’s second consecutive day of losses. Despite the NASDAQ Composite Index rising 1.16% to 16,884.60 and the Dow Jones Industrial Average climbing 1.20% to 40,829.59, Kosmos Energy Ltd. failed to capitalize on the momentum. The company’s stock is now trading $4.28 below its 52-week high of $8.28, achieved on September 28th. Notably, trading volume surged to 9.9 million, eclipsing the 50-day average volume of 5.7 million. This decline raises concerns about the company’s performance…

China’s inflation rate came in below forecasts, intensifying concerns about potential deflation in the world’s second-largest economy. While much of the world has been battling rising prices, China now faces the opposite problem, with consumers holding off on purchases in the expectation that goods will become cheaper in the future. Deflation, or falling prices, could have significant repercussions, both within China and globally. Economists fear that as Chinese goods become cheaper, the country could “export” deflation, driving down prices worldwide. This trend could create downward pressure on global inflation, particularly as Chinese low-cost goods affect prices across multiple markets, as…

Former Lebanese central bank governor Riad Salameh has been ordered to remain in detention as part of an ongoing investigation into alleged financial crimes, including embezzlement of public funds, during his time in office, according to three judicial sources. The decision was made by investigative judge Bilal Halawi, who questioned Salameh for the first time since his detention last week. Salameh faces charges that state media reported include embezzlement, forgery, and illicit enrichment. Another hearing is scheduled for Thursday, one of the sources confirmed. Salameh’s media office stated that he would not comment publicly on the case, in compliance with…

Apple Inc. (AAPL.O) on Monday introduced its highly anticipated iPhone 16, powered by its new “Apple Intelligence” artificial intelligence (AI) software. The launch comes just hours after Chinese competitor Huawei’s (HWT.UL) tri-fold smartphone began receiving millions of pre-orders, intensifying competition in the global smartphone market. “This next generation of iPhone has been designed from the ground up for Apple Intelligence, marking the beginning of an exciting new era,” said Apple CEO Tim Cook during the product launch at Apple Park. The Cupertino-based tech giant is betting heavily on AI to encourage consumers to upgrade their devices amid slowing iPhone sales.…