FINANCE
Is Hong Kong No Longer the Financial Hub It Once Was?
Hong Kong is a shadow of what it once was and the latest bill to pass, named Article 23, which builds upon the previous national security law imposed by China, could be the nail in the coffin for Hong Kong’s attractiveness as a business and financial hub for foreign enterprises.
The fact that some companies have already shuttered their Hong Kong offices and many have or are in the process of moving staff from their Hong Kong operations to locations deemed less volatile, such as Singapore, has pushed one of our favourite financial hubs further down the rung sadly.
AI
Central Banks Leverage AI to Assess Climate Risks
A handful of European central banks: Bank of Spain, Bundesbank of Germany and the European Central Bank, announced an experimental AI project, name Gaia AI, to use AI to collect and analyse climate data to assess financial risks.
ECONOMY
Japan Leaves Negative Interest Rates Behind
The central bank of Japan raised interest rates for the first time in the last seventeen years, ending a long negative interest rate policy meant to spur the economy.
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