Economic news

The dollar was on course for its first back-to-back weekly gains since May on Friday as investors turned to safer assets. Meanwhile, the pound was on track towards its worst week since March amid fears about the EU-UK Brexit negotiations. The dollar was broadly steady in Asian trade. Against a basket of currencies, the greenback […]

Oil prices slid for a second day on Friday, weighed by a sudden increase in U.S. crude inventories as fuel demand struggled amid the coronavirus pandemic. Brent crude fell 0.5%, or 18 cents, at $39.88 per barrel after falling almost 2% on Thursday. U.S. crude lost 0.4%, or 14 cents, at $37.16 per barrel following […]

U.S. shares declined after a turbulent performance on Thursday. This followed after technology stocks reversed from a sharp recovery and resumed their decline. Meanwhile, increased unemployment claims projected a bumpy recovery ahead. Apple Inc, Microsoft Corp, and Amazon.com all recorded a 2.8% loss. Shares of these companies plunged after rallying from March lows. However, Tesla […]

Asian share markets’ bearish mood persisted on Friday. The grim mood lurked after shares of leading technology firms in the United States dropped on emerging concerns about U.S. stimulus and as worries about their extended valuations pressed. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.2% drop. The index placed just above its […]

On Friday, ByteDance announced that it plans to invest billions of dollars and recruit hundreds of employees in Singapore. The Chinese multinational internet technology company said that it would base its Southeast Asia regional headquarters in Singapore. ByteDance stated that the three-year plan began in 2019. The company purchased servers in global trade and internet […]

On Thursday, Citigroup Inc. (C.N) named Consumer Banking Head Jane Fraser as the bank’s next chief executive officer. She would be the first woman to lead a major Wall Street bank. “I’m often asked, ‘Can you have it all? Can you do it all?’ And I say, ‘Yes, you can, but you can’t do it […]

Nasdaq rebounded on Wednesday, recovering from a record plunge after tech stocks from firms such as Apple Inc led the charge. The Dow Jones Industrial Average gained 2.40% (659 points). Meanwhile, the S&P500 gained 2.63%, while the Nasdaq Composite jumped up 3.1% after it had plummeted by a record 10%. The tech-heavy Nasdaq was boosted […]

Gold remained mostly unchanged earlier on Thursday in Asia after it raked in substantial gains overnight amid a drop in the Dollar and stock market uncertainties. Gold futures gained 0.06%, trading at $1,956 per ounce at 12:05 Am ET (05:05 AM GMT). The yellow metal rose from a low of $1,927.20 to an overnight high […]

After launching its business in Hong Kong, Yum China Holdings Inc recorded a 6.3% decline on Thursday. The drop broke the recent trend of achieving a prosperous opening for local listings as global markets’ volatility dragged investors’ sentiment. In the early session, Yum China recorded a low of HK$386.2 ($50.35). The operator of KFC, Taco […]

Thursday marked Asian stock markets’ recovery from their longest decline since February. Asian shares tracked Wall Street’s upbeat performance, but currencies, commodities, and bond markets remained subdued, underscoring investors’ dampened sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan earned half a percent, recovering from its one-month low recorded on Wednesday. Japan’s benchmark index Nikkei […]