Wednesday, July 16, 2025

Polaris of Enlightenment

Russia greenlights digital ruble

Published 26 July 2023
– By Editorial Staff
The headquarters of the Bank of Russia in Moscow.
2 minute read

Russian President Vladimir Putin recently signed a law giving the country’s central bank the right to issue its own digital currency. The digital ruble will be able to be used for regular payments, but its accounts will be managed by the central bank itself rather than by private entities.

Vladimir Putin has signed a new law paving the way for the introduction of a digital ruble, Russia’s equivalent of a central bank-issued digital currency. The law gives the country’s central bank, the CBR, the right to issue its own digital currency.

The digital ruble, long discussed within the walls of the CBR, will be used for payments along with other methods, according to the new amendments to the Civil Code. The new law passed its third and final review on July 11 and is awaiting the president’s signature.

The CBR has been working on the digital ruble project since 2020, when the bank published its first analytical report on the subject. Since then, the report has been updated with feedback from relevant regulators, Russian banks and other financial market participants. In February 2022, a pilot project was launched in cooperation with a number of Russian banks.

It is reasonable to assume that the digital ruble will be seen by Russia as a tool to circumvent the much-discussed sanctions imposed on the country by the US and Europe. There is also talk that the system will allow better control over how the Russian government spends money on various social projects.

The introduction of central bank digital currencies around the world is a controversial topic. Whether it is a tool for freedom or slavery remains yet to be seen.

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China’s economy grows faster than expected despite trade war

The modern China

Published today 11:30
– By Editorial Staff
The Bund's historic waterfront promenade in Shanghai — once the heart of international trade and finance in Asia — still bears witness today to the city's unique role as China's open port to the world and center for global business exchange along the bustling waters of the Huangpu River.
2 minute read

The world’s second-largest economy grew by 5.2 percent in the second quarter and is on track to meet this year’s growth target. Exports and investments are driving growth while domestic demand remains weak.

China’s economy grew by 5.2 percent in the second quarter compared to the same period last year, which was slightly better than the 5.1 percent that economists had predicted. The growth means the country is on track to meet its full-year target of around 5 percent, despite ongoing trade tensions with the United States, reports Financial Times.

Exports sustain growth

The results show how China has managed to keep its economy on track through strong exports and investments, even though demand in the domestic market is weak. Industrial production increased by 6.8 percent in June, significantly more than analysts’ forecast of 5.7 percent.

Manufacturing and high-tech industries are leading industrial growth, with standout gains in, for example, robotics, new energy vehicles and equipment, says Yuhan Zhang, chief economist at The Conference Board’s China Center.

Retail sales, however, grew only 4.8 percent in June, which was lower than expected and a decline from the previous month’s 6.5 percent.

Challenges ahead

Economists warn that the second half of the year could be more challenging. Shuang Ding, chief economist for China at Standard Chartered, points out that first-half growth has benefited from companies rushing to export ahead of potential US tariffs.

Higher tariffs will take a toll on China’s exports, says Ding.

The real estate sector continues to drag down growth, with new housing prices falling 3.7 percent compared to the previous year. Economists are also concerned that overproduction combined with weak demand is driving deflationary pressure.

China is likely to need more policy stimulus as well as structural reform measures in the second half of 2025 to bolster the economy’s performance and make growth more balanced, says Eswar Prasad, economics professor at Cornell University.

Swedish food giant Axfood reports strong operating profit

Published 13 July 2025
– By Editorial Staff
1 minute read

The Swedish food retail market continues to grow despite economic uncertainty. Axfood, one of the country’s largest players, reports profit growth of just over eleven percent for the second quarter and continues to gain market share from competitors.

Swedish consumers are spending increasingly larger amounts on food, and grocery chains are benefiting from this development. Axfood, which operates Willys, Hemköp and since November last year also City Gross, reports operating profit that rose 11.7 percent during the year’s second quarter compared to the same period in 2024.

The result exceeded financial analysts’ forecasts, while revenue growth of 9.3 percent fell slightly below market expectations. In total, the group had revenue of nearly €2.1 billion during the quarter.

Automation delivers lower costs

Behind the strong profitability development lie extensive investments in modern logistics solutions and automation. According to the company, the investments have led to improved efficiency and strengthened competitiveness.

Going forward, the efficiency measures are expected to generate cost savings of €7.3 million annually. Axfood simultaneously confirms its investment plans of €146-155 million during 2025 as well as the goal of opening 10-15 new stores.

Facts: Axfood

Axfood is controlled by the family company Axel Johnson AB, which owns 50.1 percent of the shares. Behind Axel Johnson AB stands the Ax:son Johnson family with Antonia Ax:son Johnson as the main owner, and since January this year the group has been led by Caroline Berg, who is Antonia's daughter.

The Axel Johnson Group, which has 150 years of history, owns in addition to Axfood also the IT company Dustin, restaurant wholesaler Martin & Servera, investment company Novax and industrial group Axel Johnson International. In total, the wholly and partially owned companies in the group have a turnover of around €13.8 billion and have approximately 27,000 employees.

Bitcoin reaches new record highs – institutions drive development

Alternative economic systems

Published 11 July 2025
– By Editorial Staff
Bitcoin has surged and is expected to rise even further.
2 minute read

The cryptocurrency Bitcoin has risen to historic peak levels in recent days and is now trading at nearly $118,000. Increased interest from institutional investors and Donald Trump’s crypto-friendly policies are cited as driving factors behind the sharp rise.

The leading cryptocurrency Bitcoin continues its impressive development and reached a new peak of $118,780 on Thursday. By Friday morning, the currency was trading at $117,688, representing an increase of approximately 26 percent since the beginning of the year.

The upswing has been particularly pronounced recently. On a weekly basis, Bitcoin has risen around eight percent, while Thursday’s trading alone contributed a six percent increase.

Institutions take their place in the crypto market

Behind the recent sharp price increase lie several interacting factors. Many market analysts highlight President Donald Trump’s positive attitude toward cryptocurrencies as an important catalyst, not least his stated ambition to establish a strategic crypto reserve for the United States.

But perhaps the most significant development is institutional investors’ growing engagement in the crypto sector. Major financial players have increasingly begun including Bitcoin and other digital assets in their portfolios over the past year, which has helped legitimize the market.

Bitcoin’s new record level is driven by relentless institutional accumulation. Major players are increasing supply and reducing liquidity on exchanges, says Joshua Chu, co-chairman of the Hong Kong Web3 Association, to news agency Reuters.

Next target: $150,000

The question many market participants are now asking is how far Bitcoin’s price increase can continue. According to crypto experts that consulting firm Fast Company has spoken with, the $120,000 level could constitute an important psychological barrier for the currency.

If Bitcoin succeeds in establishing itself above this level, it could, according to analysts, open up for further price increases, potentially up to $150,000 per unit.

At the same time, market experts remind that Bitcoin has historically undergone both sharp rises and deep falls. According to analysis company Tradingview, there are signs suggesting that a correction may be on the way, which could push the price below $107,000. Such a movement would, however, according to the same analysis, be technically driven and expected to be followed by further upswings.

The second-largest cryptocurrency Ether has also shown strength and is currently trading around $2,957, after previously moving up toward $2,998 – the highest level in five months.

Nvidia becomes first company to reach four trillion dollars in market value

The future of AI

Published 10 July 2025
– By Editorial Staff
NVIDIA founder and CEO Jensen Huang presents DGX Spark – the world's smallest AI supercomputer.
2 minute read

Graphics card giant Nvidia made history on Wednesday when the company became the first publicly traded company ever to exceed four trillion dollars in market value. The milestone was reached when the stock rose to $164.42 during trading on July 9.

The California-based tech company has experienced a meteoric rise driven by its dominant position in AI chip manufacturing. Over the past five years, the stock has risen by a full 1,460 percent, while this year’s increase stands at nearly 18 percent.

Nvidia’s success is based on the company’s near-monopolistic control over the market for AI processors. The company’s GPU chips form the backbone of machine learning, data centers, and large language models like ChatGPT.

The company’s chips have become indispensable for tech giants Microsoft, Amazon, Meta, and Alphabet, all of which are investing billions in AI infrastructure. This has made Nvidia one of the main winners in the ongoing AI revolution.

Jensen Huang’s wealth explodes

The stock surge has had a dramatic impact on co-founder and CEO Jensen Huang’s personal wealth. According to Bloomberg estimates, his net worth is now $142 billion, an increase of more than $25 billion this year alone.

Huang owns approximately 3.5 percent of Nvidia, making him the company’s largest individual shareholder. The wealth increase places him among the world’s ten richest people, with his fortune closely tied to Nvidia’s stock price.

Heaviest weight in S&P 500

Nvidia now has the highest weighting in the broad US stock index S&P 500, having surpassed both Apple and Microsoft. The breakthrough has led to optimism for continued growth, with some analysts predicting that the market value could rise further.

Loop Capital’s Ananda Baruah sees Nvidia at the “forefront” of the next “golden wave” for generative AI and estimates that the company could reach a market value of over six trillion dollars within a few years.

Nvidia’s historic success reflects the broader AI euphoria that has gripped financial markets, where investors are betting that artificial intelligence will reshape the entire economy over the coming decades.

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