Prudential’s interim results fell short of market estimates after a valuation loss in the British insurer’s investment portfolio led to an unexpected drop in profit. Net income fell 87 percent year-on-year to $120 million in the first six months of 2024, after excluding a short-term investment loss of $1.08 billion, in stark contrast to the […]
One day before the Jackson Hole symposium, the Fed released the minutes of its last meeting of the Federal Open Market Committee. US interest rates unchanged at 5.25-5.5 percent. It said the “growth outlook for the second half of 2024 has been revised downwards largely due to weaker-than-expected labor market indicators.” However, the “overwhelming majority” […]
AIA Group, Asia’s largest insurer, reported its best half-year profit in five years as mainland Chinese customers continued to buy policies in Hong Kong with the prospect of better investment returns and as a hedge against a weakening yuan. Net profit rose 53 percent to $3.31 billion, or 29.53 cents per share, in the six […]
Central banks in most developing countries are now diversifying their allocations with gold and other local currencies. The US dollar is under scrutiny as it has $35 trillion in debt that could wreak havoc on their domestic economies in the event of a market crash or recession. The BRICS countries are leading the way in […]
Emerging from the ashes of two devastating world wars, the Salzburg Global Seminar was founded in the summer of 1947, at a crucial moment when the international order was in upheaval. The organization’s founders recognized the need to promote greater mutual understanding among nations and envisioned a platform for open dialogue and exchange across borders. […]
