New Zealand's central bank warns of rising unemployment, delayed business investment, and subdued global growth, citing a bleak economic picture with reduced demand and lower profitability, but notes the country's financial system remains resilient with banks prepared to handle potential loan defaults.
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Citi and Fidelity International unveil a proof-of-concept tokenized money market fund, set to debut at the Singapore FinTech Festival, which embeds foreign exchange swaps within the blockchain, promising transparency, efficiency, and instant redeemability, and paving the way for decentralized finance integrations.
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StarCharge, China's second-largest provider of charging equipment for electric vehicles (EVs), is stepping up its overseas expansion plans amid rising tensions in Europe over tariffs on Chinese-made cars. The company signed an agreement with French group Schneider Electric to form a venture in Europe to drive the electrification of the continent's automotive industry, a company official said.
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