Economic news

Emirates, one of the world’s largest long-haul airlines, announced on Sunday its plan of increasing debtEmirates, one of the world’s largest long-haul airlines, announced on Sunday its plan of increasing debt to alleviate the damage caused by the COVID-19 pandemic. More so, it is likely to implement more intensive measures as struggling months impend. The […]

China’s central bank reduced interest rates on its standing lending facility (SLF) in April. The scheme was to implement similar reductions made in other liquidity instruments aimed at salvaging the virus-beaten economy. The People’s Bank of China had slashed its SLF rates by 30 basis points, with overnight loans now at 3.05%, seven-day loans at […]

The American multinational pharmaceutical corporation Pfizer Inc. (PFE.N) announced on Friday that it will subscribe to contractors outside the company for it production. It is in preparation for a large-scale production of the experimental COVID-19 vaccine, provided it proves effective in curing the deadly coronavirus.                                           According to an interview conducted by Reuters, the President of […]

The United States luxury department store chain Neiman Marcus Group (NMG.A) received interim approval of its first day motions on Friday from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. The Court has approved Neiman Marcus Group’s access to debtor-in-possession (DIP) financing of $675 Million from creditors which will enable business […]

The U.S. Dollar fell on Monday morning in Asia, losing a portion of its gains from the start of the session. The Dollar was bolstered after several countries planned to ease lockdown measures, improving investor sentiment. The three leading states for U.S. manufacturing – California, Michigan, and Ohio – had taken steps to resume factories […]

Gold prices fell on Monday morning in Asia, but still remained above the $1,700 mark. Gold futures dropped by 0.26% to $1,709.60 per ounce by 11:58 PM ET (4:58 AM GMT). Meanwhile, Asian stocks saw gains. Gold and stocks have been observed to move in the opposite directions. With fears growing of a second wave […]

The dollar fell on Friday as investors bought risky currencies due to gloomy U.S. employment data yet to be released. The market mood eased after the United States and China said that their top negotiators agreed to cooperate amid the economic and health crisis. The dollar index slid 0.2%, at 99.673. The euro rose 0.1%, […]

The dollar fell on Friday as countries began lifting lockdowns, hinting of a recovery in demand caused by the coronavirus crisis. Brent crude rose 1.5%, or 47 cents, at $29.33 per barrel. U.S. oil was up 1.5%, or 48 cents, at $24.03 per barrel.  Both contracts are nearing their second straight week of gains after […]

Asian shares ended on a week high during the previous session after NASDAQ entered positive territory for the first in the year. Japan’s Nikkei led the rally, gaining 2.07% at 10:53 PM ET (3:53 AM GMT) after the nation had granted “exceptional approval” to Gilead Sciences’ experimental drug Remdesivir. The potential treatment for COVID-19 patients […]

Gold prices rose in Asia on Friday morning, carrying over its gains of around 2% from the previous session. Gold futures gained 0.07% at $1,726.95 at 12:01 PM ET (5:01 AM GMT), reclaiming lost ground from a drop of 0.2% earlier in the session. Investors flocked to the yellow metal after the U.S. on Thursday […]