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• Pakistan shifts from US dollar to Chinese Yuan for oil trade

  TL;DR Breakdown Pakistan has paid for its first government-to-government import of discounted Russian crude oil using Chinese currency, indicating a significant shift from the U.S. dollar. This comes as Pakistan faces a severe economic crisis, with scarce foreign exchange reserves and a potential default on its external debt looming. Pakistan’s Petroleum Minister Musadik Malik assures that refining Russian crude will be commercially viable, with no loss to be incurred. Pakistan has completed its first import of discounted Russian crude oil, using Chinese currency instead of the typically used U.S. dollar. This shift arrives as Pakistan navigates an economic crisis marked by a severe balance of payments issue, threatening a potential default on its external debt. The country’s foreign exchange reserves are perilously low, barely covering a month’s worth of controlled imports. Pakistan transitioning to new markets The discounted Russian crude oil is the first of its kind procured under a deal sealed between Islamabad and Moscow earlier this year. Without revealing the specific commercial details of the agreement, Petroleum Minister Musadik Malik confirmed that the “payment was made in RMB”….

  Article 2023年6月15日

• Credit Suisse’s retail investors attack UBS – Why?

  TL;DR Breakdown UBS faces legal backlash from Credit Suisse’s individual shareholders over its takeover. The takeover deal, considered undervalued, bypassed shareholders’ rights to vote. Multiple lawsuits target UBS, including one from the Swiss Investor Protection Association (SASV). Description UBS, fresh off its acquisition of Credit Suisse, finds itself amidst yet another storm. The tumultuous takeover, that many saw as a bargain, has stirred the emotions and anger of hundreds of individual shareholders, including those who once worked loyally for the bank. On Monday, in the hallways of Zurich’s commercial court, these shareholders are … Read more UBS, fresh off its acquisition of Credit Suisse, finds itself amidst yet another storm. The tumultuous takeover, that many saw as a bargain, has stirred the emotions and anger of hundreds of individual shareholders, including those who once worked loyally for the bank. On Monday, in the hallways of Zurich’s commercial court, these shareholders are prepping to strike back. The Heart of the Conflict The foundation of this fiery confrontation lies in the fact that around 500 equity investors of Credit Suisse felt the…

  Article 2023年8月14日

• Russia and Iran ditch USD in bilateral trade settlements

  TL;DR Breakdown Russia and Iran are conducting about 80% of their bilateral trade settlements in their national currencies, significantly reducing their reliance on the USD. This shift came in response to US sanctions, prompting these countries to explore alternative currencies, including the Chinese yuan. Iran’s President has ordered a complete shift from the USD to the Iranian rial and other national currencies in trade transactions. With an estimated 80% of bilateral trade conducted in native currencies, Russia and Iran have demonstrated their ability to minimize the influence of the USD in their economic relations. Highlighting this shift, Russia’s Deputy Prime Minister Alexander Novak recently conveyed the extent of this transformation to the press. Embracing native currencies, and beyond The shared economic landscape between Russia and Iran is seeing a significant change in its currency preferences. Novak revealed that the rial and ruble, native currencies of Iran and Russia respectively, make up approximately 80% of their mutual settlements. In an intriguing addition, Novak furthered that there’s ongoing contemplation of employing other currencies, including the Chinese yuan. Novak’s revelations followed extensive deliberations…

  Article 2023年5月20日

• Three career alternatives suggested by AI for Michael Saylor

  TL;DR Breakdown OpenAI’s GPT-4 presents three alternative careers for crypto advocate Michael Saylor. “Space Travel Tour Guide” utilizes Saylor’s knack for explaining complex concepts. As a “Cryptocurrency Chef Extraordinaire,” Saylor would create crypto-inspired dishes. “Extreme Sports Commentator” is another option, leveraging Saylor’s analytical skills. In an exclusive and thought-provoking exploration, OpenAI’s GPT-4 presents three imaginative alternatives for the career path of renowned entrepreneur and crypto advocate Michael Saylor. Renowned for his leadership at the helm of MicroStrategy and his vocal support for Bitcoin, Saylor has become a celebrated figure in the world of technology and finance. However, in this creative thought experiment, we step out of the realms of conventional wisdom and venture into a world where Saylor’s talents are applied in unexpected ways. The interview with ChatGPT GPT-4, known for its vast intelligence and creativity, offers up the first suggestion – Space Travel Tour Guide. In this role, Saylor would put his skills to use guiding eager tourists through the cosmos. With his exceptional ability to simplify complex ideas and his passion for technology, this role would make good…

  Article 2023年6月4日

• AI-driven crypto market soars with Nvidia’s chip boom 

  TL;DR Breakdown Nvidia’s value rose after successfully predicting a chip demand boom for its computer chips.  Jensen Huang, Nvidia’s CEO, attributed the 28% rise in Nvidia’s stock price to the increased chips demand. Other chip makers, such as Taiwan Semiconductor Manufacturing Co.(TSM) and Dutch ASML, have also benefited from Nvidia’s success. The AI-themed crypto market has soared following the excitement surrounding Nvidia, the world’s most popular chipmaker, after its shares rose to an all-time high in its second quarter.  The chipmaker’s soaring fortunes have led to more emergence of more corporations between Artificial Intelligence and digital assets. This is due to the demand for chips from Nvidia powering AI applications such as ChatGPT. Contents hide 1 Nvidia’s gains after boom in chip demand 2 Chip boom boosts AI-related cryptocurrencies 3 Nvidia with cryptocurrency 4 Other winners from Nvidias chip boom Nvidia’s gains after boom in chip demand Nvidia’s value rose after successfully predicting a chip demand boom for its computer chips. The company gave its valuation, which had more than doubled in 2023 in the middle of optimism on the…

  Article 2023年5月29日