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World Today: A Snapshot of Today’s Top News

1. Zodia Custody Expands to Singapore, Targeting Digital Asset Market

Zodia Custody, a subsidiary of the UK-based Standard Chartered Bank, has officially launched its operations in Singapore on September 12th. The move is aimed at capitalizing on Singapore’s rapidly growing digital asset market. Zodia Custody specializes in helping large institutions securely store cryptocurrencies.

2. Steve Forbes Predicts No Immediate Interest Rate Changes by US Federal Reserve

Steve Forbes, Chairman of Forbes Media Company, has expressed his expectation that the US Federal Reserve (Fed) will not make any immediate changes to interest rates during their upcoming meeting. Forbes anticipates that the Fed will maintain its current rate levels in the near term.

3. Luckin Coffee Overtakes Starbucks in China’s Coffee Market

In a significant development, Luckin Coffee, a major player in China’s coffee shop industry, opened over 10,000 coffee shops across China in June, surpassing Starbucks to become the largest coffee shop chain in the country. This achievement comes after an aggressive expansion drive throughout the year.

4. Country Garden Receives Approval to Extend Bond Repayment Deadlines

Reports indicate that creditors have granted approval to Country Garden, one of China’s leading private real estate developers, to extend the due date for repayment of six tranches of domestic bonds by three years. This decision led to a surge in the company’s share price, rising by as much as 10%.

5. Vietnam Achieves Record Rice Export Volume

According to Vietnam’s General Customs Office, the country’s rice export volume in the first eight months of 2023 reached a record high of nearly 6 million tonnes, reflecting a 20% year-on-year increase.

6. British Labor Market Slows Down, but Strong Wages May Impact Interest Rates

The British Office for National Statistics (ONS) has reported signs of a slowing labor market in the three months leading up to July. However, wages remain robust. This development could influence the Bank of England (BoE) to consider raising interest rates at its next meeting.

7. Russia’s Ambitious Plans for Arctic Liquefied Natural Gas Production

Russian President Vladimir Putin announced at the Eastern Economic Forum (EEF) in Vladivostok on September 12th that Russia aims to produce 64 million tonnes of liquefied natural gas (LNG) annually in the Arctic region by 2030. This ambitious goal represents a threefold increase from the current production level.

8. Apple to Launch iPhone 15 on Global Release Day

According to reports citing undisclosed sources, Apple Inc. is planning to unveil the iPhone 15 on the same day as the global launch of the new iPhone. This upcoming release will include iPhones manufactured in India and other regions, showcasing the company’s continued global reach and manufacturing diversity.

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