Investors betting on Singapore’s two largest internet companies are staring down hefty losses as rising interest rates and recession risks extended a tech rout that wiped out $110 billion from their market capitalization.
Kraken is closing its cryptocurrency exchange services in Japan as the company restructures to navigate the fallout from this year’s meltdown in digital assets.
Dozens were killed as heavy rains flooded central and southern Philippines during the Christmas holidays with nearly 400,000 people displaced even without a typhoon.
India’s $50 billion fintech industry will face hurdles in the form of tougher regulatory scrutiny and tighter liquidity leading to higher cost of capital for some companies next year, Rakesh Pozhath, partner at consulting firm Bain & Company, said.
A cryptocurrency trader accused of rigging the Mango Markets exchange and attempting to steal $110 million was arrested in Puerto Rico and charged with fraud by prosecutors in New York.
Japan’s factory output shrank for a third straight month in November as cooling demand overseas pushed production levels further below pre-pandemic levels.
Ukraine’s economy may grow next year, and this year’s inflation may be less than expected, according to the head of the central bank, who cited the nation’s resilience in the face of Russia’s campaign to destroy energy infrastructure.
The US is considering taking new coronavirus precautions for people traveling from China, which has seen a rapid rise in infections as officials lift Covid Zero restrictions.
Customers of failed cryptocurrency exchange FTX sued in bankruptcy court in hopes of being first in line to recover some of the billions lost in the meltdown of Sam Bankman-Fried’s digital-asset empire.
After the worst year for globals stocks in more than a decade, and a rout in bonds that’s unmatched this century, some investors aren’t prepared to take anything for granted in 2023.
