The Bank of Japan (BOJ) has terminated its 17-year-long policy of negative interest rates, marking a significant shift in the country's monetary strategy. This decision, unveiled after a two-day policy meeting, reflects the BOJ's confidence in Japan's evolving wage-price dynamics and its pursuit of sustainable economic growth.

Japan ends 17-year stint of negative interest rates as BOJ initiates historic rate hike

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Evergrande’s Scandal: China's property giant accused of $78 bn fraud China's real estate giant, Evergrande, and its founder, Hui Ka Yan, are ensnared in a $78 billion fraud scandal.

WION Business Wrap | Evergrande’s $78 bn fraud, Egypt’s economic resurgence, Nvidia’s B200 AI chip and more

In the wake of a funding drought gripping Europe's venture capital scene, start-ups are turning to intricate debt arrangements to secure vital capital. The allure of convertible debt, which morphs into equity over time, has seen a surge in adoption among companies seeking cash injections without risking unfavourable valuations.

European start-ups navigate complex debt deals amid funding downturn

Apple has defended its adherence to the European Union's Digital Markets Act (DMA), countering criticism that it hasn't taken sufficient steps to open up its closed ecosystem as mandated by the legislation.

Apple asserts compliance with EU's digital markets act amidst scrutiny

Following a seven-year hiatus, the European Union (EU) and the Philippines have announced the revival of their free trade negotiations, signalling a renewed effort to bolster economic ties between the two regions.

EU and Philippines rekindle free trade negotiations after seven-year hiatus

In response to a downturn in China's markets and as part of a global cost reduction initiative, fund manager Fidelity International (FIL) is reportedly planning to lay off approximately 20 employees from its main unit in China.

Fidelity International plans layoffs amid China market challenges

Internal Revenue Service (IRS) Commissioner Danny Werfel announced on Monday that the agency's intention to expand its workforce to over 100,000 employees within the next three years to achieve modernisation, service, and enforcement objectives.

IRS Commissioner outlines plans to boost workforce for modernisation goals

Tech giant Nvidia on Monday announced its plans to strengthen partnerships with Chinese automakers, including BYD, as they endeavour to develop self-driving vehicles and AI-infused infotainment systems to compete globally.

Nvidia expands collaborations with Chinese automakers

Taiwan's semiconductor giant, TSMC, is reportedly considering establishing advanced chip packaging capacity in Japan, marking a potentially significant move that could further energise Japan's semiconductor industry.

TSMC explores advanced chip packaging expansion in Japan

Australia's Reserve Bank is anticipated to maintain its interest rates at 4.35 per cent for the third consecutive meeting, according to economists, as the country's economy faces headwinds amidst rising unemployment and sluggish growth.

Australia likely to maintain interest rates amid economic slowdown: Report

A report released by the Confederation of Real Estate Developers' Association of India (CREDAI) unveiled promising forecasts for the Indian real estate sector, suggesting a remarkable growth trajectory in the coming decades.

Indian real estate sector poised to surge, projected to reach $1.3 tn by 2034

Reddit's highly anticipated initial public offering (IPO) is generating significant investor interest, with sources revealing that it is currently between four and five times oversubscribed.

Reddit's IPO oversubscribed, set to reach $6.5 billion valuation

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