Author: News Room

Why the new EVs credit may be harder to claimThe Inflation Reduction Act, which President Joe Biden signed in August, set various manufacturing requirements for new all-electric and plug-in hybrid vehicles to be able to qualify for the full $7,500 tax credit.As of Aug. 17, for example, final assembly of the car had to take place in North America.The final two requirements — which apply to the sourcing of car battery components and critical minerals — will kick in on April 18 and phase in over a few years, according to the Treasury Department.More from Personal Finance:Are you tax-savvy? Take…

On August 15, 1971, President Nixon unveiled a package of economic policies to jump-start a sluggish economy. His message featured a range of proposals, some rather tepid and conventional, others quite dramatic and controversial. It was the latter that gave rise to the name later used to describe the speech: the Nixon Shock. After the heady days of the mid-1960s, growth had slowed during the second half of the decade, eventually turning negative in 1970. Unemployment had risen from 3.5 percent in November 1969 to 6.1 percent on the eve of Nixon’s speech. But consumer prices had continued their steady…

It’s that time of the year when most of us are pumped to travel. But it’s a real bummer when you fall prey to a travel scam. Travel swindles are multiplying because more people are getting out post-COVID. They take many forms, but this is how you can protect yourself, according to Proxyrack. 1. Verify the security of the website in your browser. Fake travel companies can look highly professional and be hard to spot, but consumers can check whether or not a site is legitimate by clicking on the padlock icon icon to the left of the URL. This…

After a 50% decline over the last twelve months, at the current price of around $91 per share, we believe Expedia’s stock (NASDAQ NDAQ : EXPE), a travel company providing everything from airline tickets, to hotel rooms, and car rentals – could see a rebound in the longer term. EXPE stock has declined from around $181 to $91 over the last twelve months, underperforming the broader indices, with the S&P falling about 9% over the same period. The company’s stock traded lower as anxiety over a potential recession and higher interest rates have swept over the entire travel sector. Despite…

Key News Asian equities were largely higher less Mainland China though Hong Kong, Australia, and the Philippines were closed for Easter Monday. China stocks eased after Friday’s gains as ChatGPT-like tech stocks were hit with profit taking, sending the STAR Board lower by -2.74%. Ten new companies listed today in Mainland China under the new listing standards, which include no limit on stock movement for the first five trading days. The top-performing IPO was Shenzhen CECport Technologies (001287 CH), which gained a mere +221%. The new standards are not necessarily “looser,” though streamline the IPO process, which should increase the…

It is no exaggeration to say that India’s United Payments Interface (UPI) real-time payments system has been a game changer for the subcontinent. In a nutshell, UPI has transformed how Indians make payments, allowing them for the first time to easily transfer money instantly from one bank account to another: from a customer to a business, or between individuals. In the roughly seven years since it was launched, UPI has accrued 260 million users in a population of 1.4 billion and been a decisive factor in India’s embrace of cashless payments thanks to its ease of use and interoperability. Mastercard’s…

When we established Circulate Capital four years ago, we knew we wanted to be based in Southeast Asia where there was (and still is) an enormous opportunity to invest in and scale companies that are developing crucial solutions to solve the plastic waste crisis. So why Singapore? For those who read this column, you’ll know that I’ve recently spent some time reflecting on how far we’ve come in four years and how much further we still have to go to achieve our ambitions. And one of the things I’ve realized is that where you decide to set up your fund…

By Asif Shahzad ISLAMABAD (Reuters) -Saudi Arabia has told the International Monetary Fund it will provide financing to Pakistan, Pakistani junior finance minister Aisha Ghaus Pasha said on Thursday, a critical step needed to secure IMF funding. Saudi Arabia’s $2 billion pledged in external financing support to Pakistan is one of the final conditions for an IMF deal that Islamabad needs to avert a default. “Apparently Saudi Arabia has committed to IMF, and IMF has indicated to us that there has been a correspondence from them,” Pasha told reporters in Islamabad. The IMF’s resident representative did not immediately respond to…

By Patrick Werr CAIRO (Reuters) – The Egyptian pound lost ground on the black market again in recent days in a sign that halving its official value over the past year could still not be enough and the central bank may have to let it slide further. Despite its pledge in October to allow supply and demand determine exchange rates, the central bank has been managing the currency in a tight band that has remained virtually unchanged at around 30.80/90 to the dollar for three weeks while the pound has slid to between 35 and 36 in the black market.…

By Shariq Khan BENGALURU (Reuters) – Oil benchmarks jumped 6% on Monday, the day after the OPEC+ group jolted markets with plans to cut more production, raising fears of tightening supplies while some warned of reduced demand if oil refiners flinch at paying higher prices for crude. settled higher by $5.04, or 6.3%, at $84.93 a barrel, after touching its highest since March 7 at $86.44. West Texas Intermediate crude settled up by $4.75, or 6.3%, at $80.42 a barrel after rising to a two-month high during the session. The Organization of the Petroleum Exporting Countries and allies including Russia,…