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The Number of the rich in Asia is higher than in North America

According to the latest poll by the Royal Bank of Canada, the number of affluent people in Asia surpasses that of North America for the first time. The officials from the bank reported that the number of rich people in

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China’s Oil Imports from Iran go back to Normal

China’s imports of crude oil from Iran surge in May after a payment dispute is resolved between the two countries. Beijing saw a 35% jump on oil import from Iran from the previous month. This surge comes despite the sanctions

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China and Brazil in Currency Swap Deal

China and Brazil have agreed a currency swap deal to allow their respective central banks to exchange local currencies up to USD 30bn. The amount would serve as a safeguard reserve in times of crisis and towards strengthening bilateral ties.

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Government warns unauthorized NGOs

The economy director Syed Qayas for eastern Nangarhar warned non-governmental organizations that their offices would be shut down if they tried to implement any project without permission after the latest warning. Representatives from various NGOs had been summoned in a

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15 major banks downgraded by Moody’s

Credit ratings agency Moody’s has downgraded 15 global banks and financial institutions. Moody’s based their decision on the bank’s exposure to volatility in the world’s financial markets and risk of outsized losses. According to John Raymond the senior banking analyst

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