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Inefficient investments continue to be a drain on the economy, and debt-laden local governments need to ensure that the projects they back are actually needed in their communities.That was the message state-owned Economic Daily delivered in a commentary on Sunday as it put its weight behind national efforts to stimulate domestic demand.Written under the pen name Jin Guanping, the commentary said the incremental capital output ratio had risen from 2.84 in 2008 to 9.44 in 2023. The ratio is a key measure of investment efficiency where a lower value indicates...

India has reaffirmed its engagement with BRICS while making it clear that it is not part of any initiative to undermine the US dollar. This comes in response to US President Donald Trump’s latest warning of a 100% tariff on imports from BRICS nations if they pursue a common currency.External Affairs Minister S. Jaishankar, in a statement to Parliament, emphasised India’s role as a founding member of BRICS, highlighting the bloc’s focus on inclusive global governance. However, he clarified that India does not support any move within BRICS to reduce...

US Attorney General Pam Bondi ‘The swarm of violent attacks on Tesla property is nothing short of domestic terrorism,' says Attorney General Pam BondiVowing harsh punishment, the US' top cop has denounced a recent series of attacks on the property of Tesla, the carmaker led by CEO Elon Musk, US President Donald Trump's largest campaign donor."The Department of Justice has already charged several perpetrators with that in mind, including in cases that involve charges with five-year mandatory minimum sentences. We will continue investigations that impose severe consequences on those involved...

He and his team would stay in Auckland. He anticipated he would continue to travel to the US around half a dozen times each year.Christ’s College old boy McGoldrick was born and raised in Christchurch – where he comes from an extended family well known on the local real estate scene – but moved to Auckland to finish his business degree after the quakes.“I wanted to go my own way,” he told the Herald.AdvertisementAdvertise with NZME.He worked in logistics (Fliway Group) and sales (Fuji Xerox) before founding his first start-up...

US President Donald Trump’s latest accusation of China’s trade advantage via yuan depreciation suggests his sights are set on reducing the US trade deficit, according to analysts who also noted that a priority of China’s central bank is stabilising the currency against the backdrop of a strong dollar and mounting tariff risks.They contended that Trump’s warning on Monday – that China and Japan “can’t continue to reduce” their currencies because it is “unfair” to the US – clashes with Beijing’s actual efforts to prevent a sharp yuan depreciation. Japan also...

U.S. President Donald Trump announced on March 2 the first five cryptocurrencies that will form a U.S. strategic crypto reserve: Bitcoin, Ethereum, Ripple, Solana, and Cardano. Bitcoin and Ethereum are the two largest cryptocurrencies in the world by market value. By establishing a crypto reserve, the U.S. becomes a direct stakeholder in the digital asset market, gaining leverage over global policy, adoption rates, transaction standards, and institutional investment. Trump posted on Truth Social, “I will make sure the U.S. is the Crypto Capital of the World.” SEE: The 6 Best...

After talking about creating a “strategic reserve” of cryptocurrencies during his Presidential bid last year, Donald Trump has for the first time announced five virtual coins he plans to include in the American reserve stockpile – a move which has given a booster shot to the crypto trading market, helping it upend the downward trajectory it seemed to be headed on over concerns around Trump’s uncertain trade decisions.The market prices of the five coins he named – Bitcoin, Ethereum, XRP, Solana and Cardano – all swiftly jumped after the announcement....