If there’s one thing I’ve learned from tracking Apple deals for a living, it’s that the best discounts don’t always stay in stock until Black Friday. Case in point: The Apple Watch Series 10 was sitting at its lowest price ever earlier this…
The resolution passed by the UN security council on Tuesday evening, aimed at turning the precarious Gaza ceasefire into a real peace plan, is one of the oddest in United Nations history.
It puts Donald Trump in supreme control of Gaza, perhaps…
Nitrogen dioxide (NO2) is a risk factor for ovarian cancer, according to a study recently published in Medicine, suggesting that exposure may accelerate the onset and progression of the disease.1
More than $1tn (£760bn) has been wiped off the value of the cryptocurrency market in the past six weeks amid fears of a tech bubble and fading expectations for a US rate cut next month.
Tracking more than 18,500 coins, the value of the crypto market has fallen by a quarter since a high in early October, according to the data company CoinGecko.
Bitcoin has fallen by 27% over the same period to $91,212, its lowest level since April.
Investors around the world are on edge as fears mount over an artificial intelligence bubble in the stock market, with even the boss of Google’s parent company warning that “no company” will be immune if the bubble bursts.
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The UK’s blue-chip FTSE 100 index fell 1.3% on Tuesday, its fourth day in the red in a row and the worst day since April. The Stoxx Europe 600, which tracks the biggest companies on the continent, fell 1.8%. Wall Street was also trading lower, with the Dow Jones, Nasdaq and S&P 500 all down about 1% on Tuesday.
It followed steeper falls in Asia, where in the Japan the Nikkei 225 index shed 3.2%. Hong Kong’s Hang Seng index dropped 1.7%.
Sundar Pichai, the head of Google’s parent company, Alphabet, said in an interview with the BBC that there was “irrationality” in the current AI boom. He warned that in the event that the AI bubble bursts, “no company is going to be immune, including us”.
Meanwhile JP Morgan Chase vice chairman, Daniel Pinto, said that booming AI valuations are due for a reassessment. “There is probably a correction there,” he said at the Bloomberg Africa Business Summit in Johannesburg on Tuesday. “That correction will also create a correction in the rest of the segment, the S&P and in the industry.”
The chief executive of Klarna, Sebastian Siemiatkowski, also sounded the alarm this week, warning that huge sums being poured into computing infrastructure made him “nervous”.
He told the Financial Times: “I think [OpenAI] can be very successful as a company but at the same time I’m very nervous about the size of these investments in these datacentres. That’s the particular thing that I am concerned about.”
The Klarna co-founder added that the rising valuation of AI companies, including the chipmaker Nvidia, was also a source of concern. Nvidia became the first company to hit a market value of $4tn this year, later followed by Apple and Microsoft.
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“That makes me nervous, because of the amount of wealth that is currently automatically allocated into this trend, without some more thoughtful thinking,” Siemiatkowski said.
“You can say, ‘I disagree with the fact that Nvidia is worth that much and I don’t care, some rich people are going to lose some money.’ But the truth is, because of the index funds and how this works, your pension right now is going into that theory that it is a good investment.”
An AI bubble is now seen as one of the most serious risks in the stock market, and a survey by the Bank of America found that 45% of its polled fund managers believe it is the biggest tail risk.
The price of gold, which is traditionally seen as a safe haven asset, is also falling. The spot price fell by 0.3% to $4,033.29 an ounce on Tuesday morning, after earlier hitting its lowest level in a week.
The drop comes amid fading expectations that the US Federal Reserve will cut interest rates next month. Higher interest rates make gold relatively less appealing as the metal does not pay a yield.
However, Giovanni Staunovo, an analyst at the Swiss investment bank UBS, said the gold price was likely to fall further but would soon recover.
“I would expect gold prices to bottom out soon, as I still see the Fed cutting rates several times over the coming quarters, and central banks’ diversification into gold remains strong,” he said.
Zeniko has introduced the ZA12 Dual Dial Retro Mini Flash, a compact lighting solution designed for photographers seeking portable illumination. According to Zeniko, the flash delivers even, powerful light using the company’s optical…
Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed the Article IV Consultation for the Dominican Republic[1] on November 12, 2025. The authorities need more time to consider the publication of the Staff Report prepared for this consultation.[2]
The Dominican Republic’s (DR) growth slowed in late 2024 and the first half of 2025 largely due to increased uncertainty and tighter financial conditions. There are preliminary signs that economic activity is reviving, with credit, exports, and tourism growth all picking up in recent months, underpinned by supportive monetary and fiscal policies. Inflation remains close to target and is expected to average 3.7 percent in 2025. External balances are in line with fundamentals and desirable policies. The current account deficit is expected to narrow further this year to 2.5 percent of GDP, on the back of robust exports and remittances, and is fully financed by foreign direct investment (FDI).
Growth is expected to accelerate to 4.5 percent in 2026 then converge to its long-term trend of 5 percent, while inflation is forecast to remain around the 4 percent ± 1p.p target. The current account deficit is expected to remain around 2½ percent and continue to be fully financed by FDI. The government’s deficit and debt are projected to gradually decline, in part due to the expected reduction of electricity sector losses and improved targeting of energy subsidies. This will also help to create space for planned increases in public investment.
The balance of risks is tilted to the downside, but the DR is well-positioned to weather them. External risks from global financial conditions and heightened uncertainty remain, as does the DR’s vulnerability to natural disasters. But the DR has strong economic fundamentals and policy space to respond should these risks materialize. On the upside, the DR could benefit from trade diversion and FDI inflows stemming from changes in global trade policies. Domestically, delays in implementing the authorities’ reform and public investment plans could pose a downside risk to growth, while robust implementation would create upside “risks” to growth.
Executive Board Assessment[3]
Executive Directors commended the Dominican Republic’s sustained efforts to strengthen policies and institutions and advance business‑friendly reforms, driving the strong macroeconomic performance over the past two decades. Directors welcomed that growth is expected to accelerate and inflation remain well‑anchored. They agreed that while downside risks persist, the country is well positioned to absorb shocks, given its strong fundamentals and policy space. Notwithstanding the strong fundamentals, Directors encouraged the authorities to continue with their prudent policies and steadfast implementation of the reform agenda to accelerate growth and enhance resilience.
Directors encouraged the authorities to maintain prudent fiscal policies and support increased public investment, in line with the medium‑term fiscal framework and Fiscal Responsibility Law. They welcomed the planned consolidation, focused on revenue mobilization and improving spending efficiency, including by removing generalized subsidies while safeguarding necessary social spending. A well‑communicated medium‑term revenue strategy could help lay the groundwork for broader fiscal reform. Directors noted that full implementation of the Electricity Pact is essential to limit fiscal risks and ensure resilience.
Directors concurred that the monetary policy stance is broadly appropriate. They underscored that strengthening the monetary transmission mechanism would help to reinforce the effectiveness of the inflation targeting framework. Accordingly, Directors encouraged efforts to advance a comprehensive and clearly communicated strategy to gradually wind down exceptional liquidity measures. Furthering domestic financial markets development would also support policy transmission. Directors highlighted the need for continued exchange rate flexibility, with interventions focused on smoothing large shocks and rebuilding buffers to bolster external stability.
Directors noted that the banking system remains healthy and systemic risks are limited. They commended the progress on enhancing the financial sector supervisory and regulatory framework. The adoption of Basel II and III standards, development of a macroprudential policy toolkit, and strengthening of the AML/CFT framework remain key priorities.
Directors welcomed the ambitious structural reform agenda, aimed at boosting the country’s potential growth and achieving high‑income status as envisioned in the Meta2036 Plan. They noted that efforts to further improve governance, advance labor and social security reforms, and efficiently invest in infrastructure, education, and health are essential to achieve these goals. Noting the progress made, Directors concurred that the Dominican Republic’s high vulnerability to natural disasters requires a comprehensive approach to mitigating risks and building resilience. Important measures include enhancing the disaster risk management frameworks and deepening natural disaster considerations in fiscal policy.
Sources: National authorities; World Bank; and IMF staff calculations. 1/ Latest available. 2/ The consolidated public sector includes the budgetary central government (CG); the rest of the Non-Financial Public Sector, i.e., extra-budgetary central government institutions (decentralized and autonomous institutions), social security funds, local governments and non-financial public companies; and the quasi-fiscal central bank debt.
3/ Excluding reserves.
[1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.
[2] Under the IMF’s Articles of Agreement, publication of documents that pertain to member countries is voluntary and requires the member consent. The authorities have not yet communicated their decision on the publication of the staff report.
[3] At the conclusion of the discussion, the Managing Director, as Chair of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summings up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.
