Economic news

A contraction seen in Egypt’s non-oil private sector had eased in July, slowing at its most gradual pace in a year. This could be attributed to parts of the economy resuming operations after months of lockdown, with output and new orders monitored growing, a survey showed on Wednesday. IHS Markit’s Purchasing Managers’ Index (PMI) rendered […]

July had seen China’s services sector growing at a relatively slower speed. The sector expanded slower than its decade-high record in June due to struggling new export businesses and surging unemployment, an industry poll showed on Wednesday The Caixin/ Markit services Purchasing Managers’ Index (PMI) was monitored at 54.1 last month. This placed lower than […]

Thailand’s exports may shrink by 15% for 2020 as the COVID-19 situation continues to worsen and affect global demand, a Thai shipping association said on Tuesday, adding that a stubbornly strong Baht adds further to the pressure. Thailand’s exports fell by 15.2% in the second quarter year-on-year and by 7.1% from January to June. According […]

Turkey’s consumer price inflation fell lower than expected to 11.46% in July compared to the same month last year, reversing a two-month rise in inflation according to Tuesday’s official data. The figures boosted the Turkish Lira, trading at 6.9270 against the Dollar. Consumer prices increased by 0.58% in July month-on-month, in contrast to a Reuters […]

A dollar boost stumbled on Tuesday as political debate over a U.S. coronavirus relief package and a bleak economic outlook weighed on the greenback.  After suffering its worst month in July, the dollar started August on a firm note as several investors began to cut down on short positions. The dollar index fell 0.2%. The […]

Oil prices fell on Tuesday amid fears that a fresh recovery in fuel demand could stall due to rising coronavirus cases. This came as major oil producers increased output while many countries in the world tightened lockdowns. U.S. West Texas Intermediate crude futures slid 0.7%, or 30 cents, at $40.71 per barrel. Brent crude futures […]

On Tuesday, German chemicals giant Bayer (BAYGn.DE) reported its second-quarter net loss worth 9.5 billion Euros ($11.2 billion) due to a $10.9 billion settlement of U.S. lawsuits claiming that its glyphosate weed killer caused cancer. Bayer signed an agreement worth $8.8 to $9.6 billion in June to settle the 125,000 claims in the United States […]

On Monday, the U.S. Federal Aviation Administration published the final list of required design changes to the Boeing Co (BA.N) 737 MAX. It also included some changes to its operation and maintenance procedures that must be completed for the jet to return to passenger service. According to the FAA, the design changes include new software […]

July had seen euro zone’s manufacturing activity expanding mildly, its first growth since early 2019. Meanwhile, Asia was relieved as export-dependent economies eased from declining, hinting that the sector is recovering from the damages brought by the COVID-19 pandemic. Factories seem to be contributing to euro zone’s potential recovery as IHS Markit’s final Manufacturing Purchasing […]

Asian shares recorded a well-ended session on Tuesday as upbeat manufacturing data and earnings in technology-related stocks outweighed worries brought by the coronavirus pandemic and global economy. MSCI’s broadest index of Asia-Pacific shares outside Japan tallied a 0.9% gain, while Chinese shares jumped 0.1%. Japan’s index Nikkei hiked more than 1% as Australian stocks advanced […]