MARKETS - Page 3

Gold on Track for Record Gains Not Seen Since 2010

The gold market is set to end a record-breaking year on a positive note, with the precious metal boosted by a confluence of factors, including escalating geopolitical tensions and rising national debt. The bullion has been the best-performing commodity of 2024, outperforming base metals and equities while also regaining investor interest following a sharp sell-off in November. Investors are seeking safe-haven assets amid global economic uncertainties. Escalating geopolitical tensions are also boosting gold demand, particularly from central banks, which have

December Sees Slower Decline in Japan’s Manufacturing Activity

Japan’s manufacturing activity contracted at a slower pace in December as declines in production and new orders moderated, according to a private-sector survey released on Monday. The final au Jibun Bank Japan Manufacturing Purchasing Managers’ Index (PMI) improved to 49.6 in December, marking the mildest contraction in three months. This was slightly above both the preliminary reading of 49.5 and November’s 49.0 but remained below the 50.0 mark, which separates expansion from contraction. A lack of incoming new orders weighed

India’s Startup Funding Shows Signs of Recovery in 2024

After a slowdown, India’s startup ecosystem is witnessing a renewed flow of investments, with funding reaching $11.3 billion in 2024. While this figure represents a marginal increase compared to the $10.7 billion raised in 2023, it signals a positive shift in investor sentiment.   Several factors contributed to this resurgence. Firstly, venture capital firms, armed with substantial dry powder, are cautiously deploying funds, prioritizing startups with strong fundamentals, clear paths to profitability, and robust governance practices. This discerning approach ensures

Micron Secures $6.1 Billion Chip Subsidy Under US CHIPS Act

The US Department of Commerce has finalized a $6.1 billion subsidy for memory chip maker Micron Technology, according to a White House statement on Tuesday. This funding also opens the door to additional support for constructing multiple domestic semiconductor facilities. The investment, consistent with the amount announced in April, represents one of the largest government allocations to chipmakers under the US CHIPS and Science Act. The initiative aims to strengthen America’s semiconductor manufacturing capabilities and reduce reliance on foreign suppliers,

Kioxia’s IPO Raises $800 Million, Priced Within Anticipated Range

Kioxia, the chipmaker backed by Bain Capital, has raised 120 billion yen in its initial public offering, including the overallotment, with shares priced in the middle of the marketed range, according to a securities filing on Monday. The IPO price of 1,455 yen per share values the company at 784 billion yen. Kioxia, a leading memory chip manufacturer, had initially set a price range of 1,390 to 1,520 yen per share. Bain, along with other investor Toshiba, will sell shares

Bitcoin Reaches Historic Milestone, Surging Past $100,000

Bitcoin surpassed $100,000 for the first time on Thursday, marking a significant milestone in its evolution. Analysts view this as a reflection of transformative shifts in finance, technology, and geopolitics. The surge underscores the growing mainstream acceptance of digital currency, now widely utilized by investors, traders, and entrepreneurs as a medium of exchange. Cryptocurrencies operate as virtual money on decentralized online networks, with transactions recorded using blockchain technology. Bitcoin’s value has soared since Republican Donald Trump was elected president of

Tesla Leads Global Market Value Growth in November Rally

In November, Tesla saw the largest increase in market capitalization among leading global companies, driven by optimism surrounding CEO Elon Musk’s close relationship with U.S. President-elect Donald Trump. Reports suggest Trump plans to relax regulations on self-driving cars, fueling expectations of growth for the automaker. Tesla’s stock surged 5% during Monday afternoon trading, pushing its valuation past the $1 trillion mark. This milestone reflects growing investor confidence in the accelerated deployment of Tesla’s fully autonomous vehicle technology. The electric vehicle

Proposed Tariffs on Canada May Raise U.S. Gas Prices, Experts Say

A proposed Trump tariff on Canadian oil could significantly raise fuel prices for Americans and disrupt decades of oil trade with the United States’ largest crude supplier. With nearly two-thirds of U.S. crude oil imports coming from Canada, analysts warn that implementing such tariffs could drive gasoline prices up by an average of 30 cents per gallon within days of enforcement. If the president-elect does impose the tariffs, it would violate a clause in the United States-Mexico-Canada Agreement (USMCA), which

Adani Bonds Decline to Year Low as Bribery Claims Spark Concerns

Investors reduced their exposure to the Indian conglomerate as some bankers weighed the possibility of halting new lending. Last week, the group’s billionaire chairman, Gautam Adani, along with seven others, was accused of orchestrating $265 million in bribes to Indian government officials. The alleged payments were reportedly made to secure contracts for coal transportation and the country’s largest solar power project. These accusations have unsettled global banks and investors, potentially hindering Adani’s long-term goals in the capital markets. Several global

Trump-Era Optimism Drives Bitcoin Closer to $100,000 Milestone

Bitcoin’s climb toward the $100,000 milestone accelerated on Thursday, fueled by investor optimism over a potentially more crypto-friendly regulatory stance under President-elect Donald Trump. The cryptocurrency surpassed $99,300 for the first time during European trading, gaining roughly 4% on the day. It has more than doubled in value this year and surged about 40% in the two weeks since Trump’s election, alongside a wave of pro-crypto lawmakers securing seats in Congress. The rise in Bitcoin’s futures basis, a key measure

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