Economic news

China’s fourth-quarter economic growth will rise from the third quarter, according to the spokesman of the National Statistics Bureau, Fu Linghui. In a press conference on Monday, Fu said that consumption prospects are improving and the services industry is showing signs of good recovery momentum. Data on Monday also showed that Chinese industrial production rose […]

Oil prices rose on Monday, recovering last session’s losses as hopes that OPEC and its allies will maintain existing output cuts, thus offsetting worries about weak fuel demand. This came amid the resurgence of global coronavirus cases and rising production from Libya.  Brent crude futures for January climbed 1%, or 44 cents, at $43.22 per […]

The dollar fell against its peers on Monday, while the euro and the pound rose on signs that Britain and the EU could make progress in the trade talks. The dollar index slid to 92.565 in Asian trade. The British pound climbed to 1.3226 against the dollar and stood at 89.61 pence per euro. Against […]

Japan’s economy had seen the fastest pace of growth in the third quarter, recovering from its sharpest postwar recession as upbeat exports and consumption strengthened the economy’s rebound from the coronavirus pandemic. The world’s third-largest economy recorded an annualized 21.4% contraction in the third quarter, placing higher than the 18.9% increase predicted by markets. According […]

October had seen China’s factory output advanced faster than what was initially thought. More so, retail sales accelerated as the country’s emergence from its coronavirus-driven contraction gained momentum. According to data from the National Statistics Bureau, industrial production in the world’s second-biggest economy recorded a 6.9% growth from a year ago. The figure came in […]

Asian share markets reached historic highs on Monday. The series of increase could be attributed to vaccine hopes and upbeat economic figures from China and Japan, completely supporting investors’ confidence despite surging coronavirus infections. MSCI’s broadest index of Asia-Pacific shares outside Japan tallied a 1% gain, hitting its sharpest increase since its debut in 1987. […]

While Germany’s economy sustained its momentum until October, it was seen expanding at a slower pace since August, the Economy Ministry said on Friday. In addition to this, the ministry emphasized that virus-related lockdown measures greatly affected the economy in November. Despite the economy’s weak growth, the ministry believed that its expansion would not stop […]

The third quarter had seen a drop in WeWork’s revenue. However, its cash burn decelerated, the company announced on Thursday. In addition to this, the management remains complacent that the shared-workplace provider can neutralize the effect of the coronavirus on the corporate sector. The company’s quarterly revenue dropped a total of 8% from the second […]

Cisco Systems Inc’s first-quarter revenue dropped below expectations, the telecom equipment maker reported on Thursday. This followed after demand was supported by a large number of people in need of teleconferencing tools, networking equipment, and cybersecurity products for their work-from-home setup. The company’s revenue had seen a 9% decline to $11.93 billion in the quarter […]

Oil prices were seen struggling during their early trade on Friday. This followed after an increase in new coronavirus infections sparked concerns about the global economy and short-term fuel demand. But with vaccine optimism still in the air, oil prices were expected to record another week of gain. After shedding 0.8% on Thursday, U.S. West […]