IMF’s Deputy Managing Director Gita Gopinath steps down after five years
IMF says Managing Director Kristalina Georgieva will announce a successor in due course
Paris officials clarify probe focuses on Musk’s X algorithm, not personal information
Musk’s company publicly rejects the investigation, calling it politically motivated and a threat to free speech
Oil dips as Russia sanctions seen limited in impact; diesel supply fears curb losses
Traders weigh EU moves, Russian resilience, and diesel tightness as Brent slips to $69.09
Indonesia warns 19% US tariff could be imposed ahead of August 1
Economic minister says timing hinges on joint statement following recent trade deal with Washington
Hong Kong probes Louis Vuitton data leak affecting 419,000 customers
The leak includes names, passport numbers, addresses, phone numbers, email addresses, shopping history, and product preferences
China denies link to cyber group targeting Singapore infrastructure
The response comes after a Singapore minister says a cyber group UNC3886 targets strategic and vital infrastructure
Morocco explores digital currency for domestic and cross-border use
Morocco’s central bank is working with IMF and WB to evaluate potential effects of a digital currency, or CBDC, on country’s payment systems
Musk’s X refuses to comply with French criminal investigation
The company denies all allegations and accuses authorities of distorting French law to serve a political agenda
China’s exports of two critical minerals drop sharply in June
Both minerals are used in weapons, telecommunications, and solar cells
Republican panel chief urges review of Nvidia’s plan to sell AI chips to China
In a letter to Commerce Secretary John Moolenaar warns that allowing Nvidia to sell H20 chips to China could boost its AI capabilities
China’s rare earth magnet exports to U.S. jump 660% in June
China exports 3,188 tons of rare earth magnets in June, up from 1,238 in May but 38.1% lower than June 2024
Crypto stocks rise after Trump signs stablecoin bill
Shares of Coinbase rose 1.9%, Circle 0.9%, BitMine 4.7%, Bit Digital, BTCS, and SharpLink Gaming 2.6% to 9.4%, Strategy 2.2%, and Dynamix 30%
Microsoft warns of active attacks on server software
The company urges customers to install security updates immediately to prevent further exploitation
China embarks on world’s largest hydropower dam, capital markets cheer
Hydro project on Yarlung Zangbo in Tibet to surpass Three Gorges Dam; India and Bangladesh express concerns over environmental impact
Climate change may push 41 million into extreme poverty by 2050: World Bank
A World Bank report highlights the threat of climate-induced income losses, which could lead to a significant rise in global poverty, particularly in South Asia and Sub-Saharan Africa