Author: Multibagger News

Investing.com– Gold prices fell slightly in Asian trade on Friday, but remained close to record highs as markets awaited more cues on interest rates from key U.S. inflation data due later in the day. But bullion prices were set for strong gains in August, as a mix of safe haven demand and expectations of interest rate cuts put the yellow metal at record highs. Gold fell 0.3% to $2,514.55 an ounce, while futures expiring in December fell 0.5% to $2,547.80 an ounce by 01:08 ET (05:08 GMT). Gold set for strong August, PCE data in focus Spot prices were set…

By Joe Cash According to a recent Multibagger poll, China’s factory activity is likely to contract for the fourth consecutive month in August. This underscores the urgent need for officials to shift their focus towards providing more stimulus to households rather than investing in building projects. The forecasted official purchasing managers’ index (PMI) for August is 49.5, slightly higher than July’s reading of 49.4. The 50-point mark on the index separates growth from contraction in economic activity. China’s $19 trillion economy has faced challenges at the start of the second half of the year, with weak exports, declining prices, and…

Libya’s central bank governor, Sadiq al-Kabir, revealed to the Financial Times that he and other senior bank staff had to leave the country to protect their lives from potential attacks by armed militia. In a telephone interview, Kabir stated, “Militias are threatening and terrifying bank staff, sometimes even abducting their children and relatives to force them to work.” He also denounced interim Prime Minister Abdulhamid al-Dbeibah’s attempts to replace him as illegal and in violation of U.N. negotiated accords on central bank control. The crisis surrounding the Central Bank of Libya adds another layer of instability to the country, a…

Pacific Islands Forum Endorses Plan to Boost Police Numbers with China’s Support – Multibagger The Pacific Islands Forum has approved a plan to increase police numbers among member nations, reducing reliance on external forces during crises. China-backed Solomon Islands backed the Australian-funded initiative, signaling a step towards regional security cooperation. Cook Islands Prime Minister Mark Brown, chairman of the forum, emphasized the potential for the bloc to play a proactive role in regional security. He highlighted the importance of collaboration among nations in the Pacific, rather than competition. Some analysts view the establishment of a regional policing unit as a…

By Samuel Indyk and Sruthi Shankar France’s financial assets are facing a challenging period as political uncertainty and policy gridlock grip the nation, impacting market outlook and public finances. Investors eyeing opportunities in French stocks and bonds following President Emmanuel Macron’s surprise election call in June may need to exercise patience, as the country remains in a state of flux. The recent election resulted in a hung parliament, leaving France with only a caretaker prime minister. Macron’s rejection of a possible leftist government, despite the left bloc winning the most seats in July’s second-round vote, has added to the uncertainty.…

Investment Manager Reveals: Chinese Banks Halt Transactions with Russian Companies, Billions of Yuan Stuck in Limbo As the world’s best investment manager, I have uncovered a major issue affecting Russian companies and their trading partners in China. Chinese banks are shutting down transactions with Russia, leaving billions of yuan worth of payments held up. This has been a growing problem for months, but it has intensified recently. This development is significant because China is Russia’s largest trading partner, with a third of Russia’s foreign trade coming from China. The tightening compliance by Chinese banks comes after threats of secondary sanctions…

By Suzanne McGee and Tom Westbrook (Multibagger) – Discover why actively managed exchange-traded funds (ETFs) are outperforming index-based products in the aftermath of the recent Bank of Japan interest rate hike. Market analysts are seeing major opportunities for investors in Japan-focused ETFs, as they bounce back from the recent selloff. With the Matthews Japan Active ETF leading the pack with a 21.7% return this year, compared to its index-based peers, it’s clear that taking an active approach to investing in Japan can yield significant gains. This fund, with only $3.8 million in assets, has shown that cherry-picking specific stocks during…

Breaking News: Nvidia and Apple in Talks to Fund OpenAI’s $100 Billion Valuation In a groundbreaking development, tech giants Nvidia and Apple are reportedly in discussions to contribute to OpenAI’s upcoming fundraising round, potentially valuing the ChatGPT maker at a staggering $100 billion. The New York Times revealed that Thrive Capital, an existing investor in OpenAI, is poised to lead the deal, with Microsoft also rumored to join the funding. OpenAI, a leading player in the AI space, is in urgent need of capital despite generating over $3.4 billion in revenue this year. However, the company is projected to incur…

Aviva Faces Major Tax Scandal: $26 Million in Fake Invoices Unveiled by Indian Tax Agency By Aditya Kalra and Nikunj Ohri NEW DELHI (Multibagger) – Breaking News: Aviva’s $26 Million Tax Scandal in India – How Fake Invoices and Cash Payments Unraveled In a significant development, the Indian tax agency has uncovered that British insurer Aviva (LON:) breached local regulations by paying exorbitant commissions to sales agents through a sophisticated system of fake invoices and clandestine cash payments. The revelation, based on a notice seen by Multibagger, marks a critical juncture in Aviva’s operations in India. The Scandal Unveiled Between…

Breaking News: Asian Currencies Hold Steady as Dollar Gains Ahead of Key Inflation Data In the world of finance, most Asian currencies are maintaining a tight range as the dollar continues to strengthen in anticipation of crucial inflation data. The Japanese yen is showing some resilience, nearing levels seen earlier in the month due to strong inflation figures from Tokyo, signaling a potentially hawkish stance from the Bank of Japan. Meanwhile, the Chinese yuan has reached its highest level in 2024, boosted by positive policy measures from Beijing that have spurred a broader market rebound. Despite regional currencies generally heading…