Economic news

Russian oil and gas condensate production dropped to 9.39 barrels per day (bpd) in May, nearing its target in accordance to a deal with the Organization of the Petroleum Exporting Countries (OPEC+). The figures come from the country’s energy ministry and were cited on Tuesday’s report by the news agency Interfax. Under an agreement with […]

Asian stocks rose on Tuesday as hopes of a global recovery from the COVID-19 pandemic outweighed the fears of simmering U.S.-China tensions and economic damage. However, gains were held down after U.S. President Donald Trump vowed to use force in an attempt to end violent protests in America. The announcement led Wall Street stock futures […]

Oil prices rose on Tuesday as traders await major oil producers’ decisions on whether to extend production cuts in an upcoming virtual meeting this week. Brent crude futures gained 0.91%, or 35 cents, at $38.67 per barrel. U.S. West Texas Intermediate crude futures were up 0.56%, or 20 cents, at $35.64 per barrel. Brent has […]

The dollar plunged on Tuesday as investors hoped for a faster global economic recovery despite the growing U.S.-China tensions and mass protests in several U.S. cities. The dollar index fell to 97.790, its weakest level since March. The euro steadied at $1.1154, nearing more than a 2-month high. The British pound stood at $1.2491, after […]

May had seen South Korea’s inflation rate dropping below zero for the first time in eight months, data showed on Tuesday. The decline was mainly from the novel coronavirus crisis dragging domestic demand and crude prices. The consumer price index (CPI) fell 0.3% in May from a year earlier, placing below the 0.2% contraction rate […]

Ireland’s manufacturing sector recovered slightly after its historic drop in April. Though indicators underscored recovery, it still declined in May as the economy started emerging from government-implemented lockdowns, a survey showed on Tuesday. The AIB IHS Markit manufacturing Purchasing Managers’ Index (PMI) fared better than its previous record as it advanced to 39.2 from 36.0 […]

German automotive manufacturing company Volkswagen Group (VOWG) announced on Monday that it would gradually resume operations in the states of Puebla and Guanajuato on June 15. The company decided to pause its activities last March due to the coronavirus outbreak. Volkswagen would only allow 30% of its workforce in staggered shifts. According to United Auto […]

On Monday, Chief Executive Officer Arne Sorenson stated that Marriott International (MAR.O) has resumed all its hotel operations in China and is seeing a sustained recovery in its biggest market, the United States. After Sorenson’s statement, Marriott International’s shares went up to 8.1% to $95.64 in the afternoon trading. Occupancy rates in China have risen […]

Chinese Internet service provider Tencent Holdings Ltd (0700.HK) said on Friday that it is discussing an investment worth $200 Million in the world’s largest music company Warner Music Group (WMG) as part of its initial public offering next week. Warner Music Group first announced its intention to launch an IPO in February. However, on March […]

United Airlines Holdings Inc (UAL.O) announced on Friday that it would terminate 13 out of its 67 officers to save funds as the coronavirus pandemic continues to keep a lid on travel demand. The airline company said that it would add international flights back to its network.   The Chicago-based carrier stated that trans-Atlantic services […]