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A new World Bank study highlights the significant obstacles faced by over a hundred nations—including China, India, Brazil, South Africa, and Thailand—in their efforts to transition to high-income economies in the coming decades. The report, titled "World Development Report 2024: The Middle Income Trap," offers a detailed analysis and strategic...

Grace Wee Jingsi, the youngest daughter of United Overseas Bank Ltd.'s CEO, Wee Ee Cheong, is set to purchase a luxurious $29 million mansion, capitalizing on a temporary dip in Singapore's high-end real estate market. According to property filings from March, Wee is buying a prestigious "good class bungalow" located...

Professional imagery is being revolutionized in 2024. We’ve moved past the era of purely artistic image generators and are in the middle of the next one: AI headshot generators. These new image generation tools are helping everyone make better digital impressions. Recent developments in AI machine learning technology have made...

The World Bank has raised concerns that over 100 nations, including China, India, Brazil, and South Africa, may face stagnation in a "middle-income trap" unless they implement significant economic reforms. The institution's latest report highlights the necessity for emerging markets to diversify their growth strategies beyond heavy reliance on investment....

Thirty-five distinct representations of the Australian landscape are displayed in two large rooms at Hadley's Orient Hotel in Hobart. These works, each a finalist in the 2024 Hadley's Art Prize, span a variety of mediums. The exhibition of the Hadley's Art Prize finalists is on display at Hadley's Orient Hotel...

Petroleos Mexicanos (Pemex) reported its most significant loss since the onset of the global pandemic over four years ago. The state oil company recorded a second-quarter loss of $13.8 billion, a stark contrast to the $1.4 billion profit reported a year earlier. This represents the steepest loss since the first...

The tokenization of real-world assets (RWAs) has the potential to revolutionize traditional finance, and a dedicated blockchain is essential for its rapid adoption, according to John Patrick Mullin, CEO and co-founder of Mantra. Mantra positions itself as a “security-first” layer-1 blockchain designed to meet real-world regulatory requirements. Mullin emphasized that...

Canfor Corp. has announced the retirement of its long-standing President and CEO, Don Kayne, effective at the end of this year. Kayne's career with the Vancouver-based company spans an impressive 46 years, with him serving as CEO since 2011. Under Kayne’s leadership, Canfor has undergone significant growth and transformation, evolving...

Henley & Partners' 2024 Africa Wealth Report highlights that Africa is home to 135,200 high-net-worth individuals (HNWIs) with liquid investable assets exceeding USD 1 million. The continent also boasts 342 centi-millionaires, each worth USD 100 million or more, and 21 billionaires. Africa’s top five wealth markets—South Africa, Egypt, Nigeria, Kenya,...

On July 23, 2024, Federal Bank's shares surged by 5.5%, reaching an unprecedented peak following the Reserve Bank of India's (RBI) approval of KVS Manian as the new CEO. This decision alleviated concerns regarding the bank's leadership succession. Having departed from Kotak Mahindra Bank in April after nearly thirty years,...