Browsing: Global

Gold prices on Wednesday were set to experience their initial monthly decrease in four months as investors moderated their expectations of swift and profound rate cuts in the US. This adjustment comes in light of a resilient economy, and investors are also anticipating remarks from the Federal Reserve later in the day, according to Reuters.

China’s artificial intelligence (AI) sector is poised for significant growth in the next 10 to 15 years, projecting a market scale of 1.73T yuan ($240.4B) by 2035, making up 30.6 percent of the global total, as reported by China Daily referencing a new study from market research firm CCID Consulting.

Shanghai experienced a 5 percent year-on-year surge in its annual GDP for 2023, surpassing 4.72T yuan ($657.09B), as revealed by the city’s statistics bureau on Sunday. This growth was attributed to the emergence of new economic drivers and the expansion of industrial capacity.

A senior Malaysian official, Yazrin Syakhairi, predicted that the global Islamic finance market would reach $4.9T by 2025. Syakhairi, from the Trade Section of the Consulate General of Malaysia in Hong Kong, highlighted the substantial and swift growth of the Islamic finance market, exceeding $2.2T in 2022.