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Latest Finance stories, analysis, and updates from SOFREP.
International aid is beginning to arrive in Indonesia six days after a devastating earthquake struck the island nation. According to a report from Agence France Presse (AFP), much-needed supplies are finally arriving after several delays prevented the aid from reaching survivors. The earthquake, which also caused tsunami waves that struck the country, measured in at […]
Grayscale Bitcoin Investment Trust (GBTC), the lone “bitcoin investment trust” in the United States has lost about 80 percent of its total value in the last 10 months. A significant contributor to GBTC’s downward spiral is its excessive fees, which are currently around 2 percent more than double the national average. The fees “are insane […]
As though China needed another excuse to hate the US, it came September 25, when the US State Department proposed to fund $330m worth of military parts for Taiwan’s army. China, by the way, considers Taiwan its territory. What happened? The US has periodically gifted small military parts to Taipei, Taiwan’s capital. George W. Bush […]
After extended negotiations, Canada, the United States, and Mexico have all agreed to a new trade deal that will replace the North American Free Trade Agreement (NAFTA). The new agreement, which is called the United States-Mexico-Canada Agreement (USMCA) is being hailed as a win for all three countries. According to Reuters, the new deal ensures […]
The United States may soon spend more on interest than it does on military, Medicaid, or children’s programs, according to a report by the Congressional Budget Office, September, 25. Here’s what that means for you The Trump Administration has achieved many firsts. One of these is that for the first time in the nation’s history, […]
Despite stringent regulations aimed at curtailing money laundering in the European Union (EU), the crime is still rampant across several countries on the Continent. According to a report from AFP, an absence of cooperation between EU states is allowing criminals to continue laundering money through various banks. “There are problems relating to coordination at various […]
Social media superpower Facebook announced on Friday that millions of the company’s users have been victims of a data breach. According to Reuters, hackers cracked login codes for “up to 50 million” accounts in what is being called the worst security incident in the company’s history. “This is a very serious security issue, and we’re […]
India will continue to purchase Iranian crude oil, despite the sanctions from the United States. According to a report from Reuters, the announcement was made by Iranian foreign minister Mohammad Javad Zarif shortly after meeting with Indian diplomat Sushma Swaraj. “Our Indian friends have always been categorical in terms of their intention to continue economic […]
The World Bank announced on Wednesday that it would send $80 million in grants to Somalia to help the African country enact economic reforms. According to Reuters, this is the first time in almost 30 years that the World Bank has approved any type of funding for the Somalia government. In 1991, the World Bank officially […]
China’s rapidly expanding Navy has, thus far, been primarily concerned with the sovereignty of the South China Sea. Their growing “green water” fleet is capable of asserting a great deal of authority within the regional (and globally important) waterway. China, however, still lacks the logistics and vessels to field a globally capable Navy like that […]
The United States will be doubling its financial aid to the Rohingya Muslims. According to a report from Reuters, around 700,000 Rohingya Muslims have been displaced from their homes in Myanmar. Nikki Haley, the U.S. ambassador to the United Nations, made the announcement earlier this week. The crisis began in 2017 after Rohingya allied groups […]
Reports have begun to surface that suggest Russia is doubling down not only on their use of nuclear submarines, but on the importance of hypersonic-capable missile platforms, as they appear to be adjusting their defense budget to fast track the development of eight new nuclear missile submarines purpose built for the next generation of Russian […]
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