Temasek’s $245 million FTX loss ’caused reputational damage’ to Singapore, says deputy prime minister Singapore’s Deputy Prime Minister Lawrence Wong said the state sovereign wealth fund’s investment loss of $275 million in collapsed crypto exchange FTX is “disappointing and has caused reputational damage” to the city-state. But the investment loss does not mean the governance … Read more
Bitcoin briefly crosses $17,000 to highest levels since mid-November The price of bitcoin briefly surpassed $17,000 in Asia’s morning session for the first time since mid-November. Bitcoin rose 2.2% from the 24 hours previous, according to Coin Metrics and last traded at $16,863.07 per coin. Ether also rose, and was up 4.74% in the past … Read more
CNN — China’s vast security apparatus has moved swiftly to smother mass protests that swept the country, with police patrolling streets, checking cell phones and even calling some demonstrators to warn them against a repeat. In major cities on Monday and Tuesday, police flooded the sites of protests that took place over the weekend, when … Read more
A version of this story appeared in CNN’s Meanwhile in China newsletter, a three-times-a-week update exploring what you need to know about the country’s rise and how it impacts the world. Sign up here. CNN — For the first time in decades, thousands of people have defied Chinese authorities to protest at universities and on … Read more
TAIPEI, Taiwan (AP) — Protests against China’s restrictive COVID-19 measures appeared to roil in a number of cities Saturday night, in displays of public defiance fanned by anger over a deadly fire in the western Xinjiang region. Many protests could not be immediately confirmed, but in Shanghai, police used pepper spray to stop around 300 … Read more
Proposed G-7 price cap may not have any effect whatsoever on Russia, says Wood Mackenzie The Group of Seven (G7) nations’ proposed price cap for Russian oil of between $65 and $70 a barrel may not be a significant deterrent for Moscow, according to Wood Mackenzie. The planned cap is not expected to make a … Read more
Malaysian stocks rise as state palace announces prime minister Malaysia-listed stocks rose as the the state palace announced Anwar Ibrahim as the nation’s prime minister. The benchmark KLCI-index traded 3.86% higher following previous negative sessions, trading at the highest levels in more than two months. Telecommunications group Axiata Group Bhd rose 12.4%, and Maxis Bhd … Read more
China keeps its loan prime rates on hold as expected China left its benchmark lending rate unchanged for a third month in a row, according to an announcement from the People’s Bank of China. The one-year loan prime rate is steady at 3.65%, and the five-year rate is also on hold at 4.3%, the notice … Read more
Fertilizer is key to get Black Sea grain deal in motion again, says expert A greater emphasis on fertilizer will help bring down the global cost of food and secure the extension of the Black Sea deal, said Michael Vatikiotis, senior advisor from Center for Humanitarian Dialogue. He explained that 70% of Europe’s fertiliser production … Read more
Oil prices rise more than 2% on back of China easing quarantine measures Reopening stocks jump after China’s eased Covid measures reported China trims Covid quarantine time by two days Chinese state media announced on Friday that the country will reduce quarantine time for international travelers by two days. The revised rules state travelers will … Read more