Economic news

Asian shares advanced for three consecutive sessions on Wednesday. The upbeat market mood was mainly from investors’ enthusiasm that lockdown restrictions will be lifted in some parts of the world while oil prices recovered on optimism that demand will pick up. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.6%, with this week’s performance […]

U.S. oil prices bounced on Wednesday, recovering some of its losses as U.S. reserves filled slower than anticipated. The lockdowns lifted in some European countries and U.S. cities also helped prices recover as the market hoped for a rise in demand. U.S. West Texas Intermediate crude futures rose 15.4%, or $1.90, at $14.24 per barrel, […]

The Australian dollar hit six-week highs on Tuesday as re-opening economies helped recover its losses in March. The Australian dollar has rallied over 17% after hitting a 17-year low last month. It broke resistance at $0.6445 and slid to $0.6438. The New Zealand dollar fell as the aggressive measures imposed by its central bank weighed […]

Oil prices plunged on Tuesday amid concerns of rapidly filling crude storages globally. On top of that, demand may only recover once restrictions on economic and social activity will be lifted. U.S. West Texas Intermediate crude futures slipped 12.8%, or $1.64, at $11.14 per barrel. Brent crude futures dropped 4.3%, or 85 cents, at $19.14 […]

Nissan Motor Co. on Tuesday said it is expecting to post its annual operating loss in 11 years. The automaker has been met with challenges as dwindling demand for cars continued due to the COVID-19 pandemic. With the sharp decline in sales, Nissan will cut its output by 78% in May, according to a Reuters […]

The German insurance giant Allianz SE (ALVG.DE) has signed an agreement to create a bancassurance partnership with financial services company Banco Bilbao Vizcaya Argentaria (BBVA.MC) on Monday. The bancassurance joint venture will provide Allianz a venue to restore its long-term exclusive distribution agreement for the sale of property-casualty insurance products through BBVA’s banking network in […]

European stocks maintained two-week highs on Tuesday as strong earnings reports from companies inspired optimism. The positive news outshone that of the rout in oil prices and the plummeting shares of Germany’s Wirecard. The pan-European STOXX index gained 0.1% at 0722 GMT as several countries prepare to ease the pandemic-led lockdown measures. The index closed […]

The German government finally decided to help its flagship carrier Lufthansa (LHAG.DE) with a state aid worth around 9 billion Euros ($9.74 billion) in return for a blocking minority and one or two commands from the Supervisory Committee, news outlet Business Insider reported on Tuesday. According to Business Insider, German government representatives and Lufthansa had […]

The economic implication of the novel coronavirus is expected to severe the South Korean economy further, with the unemployment rate likely to surge to an unprecedented level, South Korea President Moon Jae-in said on Tuesday. At a policy meeting, Moon said that the third supplementary budget will be released soon, as figures indicated that Asia’s […]

Asian shares and U.S. stock futures recorded a frail performance on Tuesday, erasing previous earnings as oil prices declined sharply. The weak trading activity monitored in oil prices dampened investors’ sentiment regarding pandemic-related policies implemented worldwide. MSCI’s broadest index of Asia-Pacific shares outside Japan declined by 0.3%. Chinese shares .CSI300 dropped with a 0.7% loss […]