Economic news

The dollar and the yen gained ground on Wednesday as traders held on to their positions ahead of a U.S. Federal Reserve policy decision. Meanwhile, the yuan held gains on a positive Chinese economic outlook.  The yen last stood at a two-week high of 105.26 on the dollar. The dollar rose against other majors after […]

Oil prices extended gains on Wednesday as a hurricane suspended U.S. offshore oil and gas refineries in the Gulf of Mexico and crude inventories declined. Brent crude rose 0.4%, or 15 cents, at $40.68 per barrel. U.S. crude climbed 0.5%, or 18 cents, at $38.46 per barrel. Both contracts gained over 2% in the last […]

The dollar fell against risk currencies on Tuesday as hopes for a COVID-19 vaccine and big corporate deals lifted appetite for riskier assets. The yuan hiked to a 16-month high as overall Chinese data showed a steady economic recovery in the world’s second-largest economy, while the Aussie was lifted by the RBA’s policy minutes indicating […]

Oil prices fell on Tuesday as concerns about lagging fuel demand recovery were raised by major oil producers. Still, short-covering ahead of the OPEC+ meeting put a cap on losses. Brent crude slid 0.1%, or 5 cents, at $39.59 per barrel. U.S. West Texas Intermediate crude futures were down 0.1%, or 3 cents, at $37.23 […]

Gold prices rose earlier on Tuesday in Asia after a rapidly descending Dollar saw record lows in a fortnight as investors awaited policy decisions from central banks. Gold futures rose by 0.61%, trading at a 12-day high of $1,975.75 per ounce at 12:30 AM ET (05:30 AM GMT). Meanwhile, Asian markets fell as investors wait […]

European stock markets mostly held steady earlier on Tuesday as investors tread cautiously ahead of upcoming central bank meetings despite signs of economic recovery in China. Data released on Tuesday morning showed that China’s economy had continued to show progress in August, with retail sales increasing by 0.5% year-on-year and a 45.6% increase in industrial […]

Citigroup Inc.’s (C.N) Chief Financial Officer Mark Mason stated on Monday that the bank was accelerating investments in its risk and control functions after a high-profile operational error worth $900 Million. He added that the bank prepared incremental investments this year worth $1 billion to shore up Citigroup’s infrastructure and improve risk management and compliance. […]

On Tuesday, Tencent Holdings Ltd. (0700.HK) announced that it would open a new office in Singapore. The Chinese multinational conglomerate company said that it would serve as its regional hub in Southeast Asia. Tencent added its Singaporean base to its offices including Malaysia, Indonesia, and Thailand after some of its apps were banned in India […]

August had seen China’s industrial output expanding at the fastest pace in eight months. Meanwhile, retail sales advanced for the first time this year, indicating that the country’s economic recovery is gaining momentum on demand’s emergence from the coronavirus drag. Industrial output growth accelerated 5.6% in August from a year earlier, data from the National […]

Asian share markets advanced, while the dollar shed gains on Thursday. This could be attributed to investors’ upbeat sentiment over strong industrial figures from China and encouraging developments in vaccine clinical trials. China’s blue-chip index was seen 0.4% higher. The jump followed after Chinese data showed that the country’s industrial output expanded for five straight […]