In June 2024, news of the US-Saudi Arabia petrodollar deal expiring after 50 years went viral and within weeks, the US stock market suffered. Reports now claim that there was never such agreement in the first place (Morningstar[1], July 17th, 2024). The premise of said agreement was that Saudi Arabia would price its crude oil exports in US dollars and use proceeds to purchase US Treasury bonds. In exchange, the United States would give the kingdom military aid and equipment. Under said arrangement, Saudi Arabia secured its economic and general […]
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SG Budget 2019: The Vision of a Caring and Inclusive Society
The Singapore Budget 2019 outlined a strategic plan to allocate resources to build a “Strong, United Singapore”. To realise this vision, among other objectives such as keeping Singapore safe and secure, transforming our economy into a vibrant and innovative one, and building a global city, is the aspiration of building a caring and inclusive society.
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Bitcoin: A Medium of Exchange or a Highly Speculative Asset?
The cryptocurrency revolution is well and truly underway, and is showing no signs of slowing down. The cryptocurrency floodgates have been flung wide open and the bandwagon is taking on passengers aplenty. Popularised by a specific type of electronic cash called Bitcoin, cryptocurrency has enjoyed widespread interest for its rapidly growing influence, and the volatility surrounding its real worth.
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Understanding Islamic Finance: Beyond Profit Maximisation
Finance is the science of money management and whenever there are discussions about money, it is often related with methods on gaining profit and maximising it. What about Islamic finance (IF)? How does it differ from conventional finance? Is it a mere replication of mainstream finance with just the inclusion of religious connotation or is it a stand-alone field which brings about different values and principles?
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