23 December 2016, 18:03
The stock market crashed on October 19, 1987, in what was later known as "Black Monday". On just this one day, the Dow Jones Industrial Average lost around half a trillion Dollars of its value, which amounted to almost a 23% drop. It is the largest single day crash to date. Thirteen years later, the stock market crashed again in the year 2000 under the nickname of "The Dot-com Bubble. And finally in 2007, the "Subprime Mortgage Crisis" hit global financial markets and caused the latest stock market crash. And ever since, analysts around the world are doing their best to predict the next crash with most failing mainly due to applying the wrong analytical tools.
29 January 2015, 05:25
As business, political and academic leaders from around the world gathered in Davos, Switzerland last week to discuss their 2015 global agendas, another Chinese major deal was struck behind the scenes. Zhou Xiaochuan (also known as Mr. Renminbi), governor of the People’s Bank of China (PBC), and Thomas Jordan, Chairman of the Swiss National Bank (SNB) signed an MoU to establish a trading center for the Chinese currency in Zurich. As per the agreement, the Chinese central bank will grant its Swiss counterpart a 50-billion Yuan quota (US $8 billion) under its Renminbi Qualified Foreign Institutional Investor (RQFII) program, launched by Mr. Xiaochuan in 2011. This is an attempt to understand this momentous deal in its proper context in order to unveil its global implications.