Economic news

On Sunday, China’s second-largest pork producer, Muyuan Foodstuff Co. reported a net profit of CNY4.1 billion ($578.86 million) for the first quarter of the year at the Shenzhen Stock Exchange. Muyuan’s shares soared by 5.21% to CNY135.09 ($19.19) per share at 12:57 AM ET (5:57 AM GMT). The company had previously reported a net loss […]

Diamond Offshore Drilling Inc (DO.N), a Houston-based contract drilling company, applied for bankruptcy protection in Texas on Sunday, after it missed an interest payment and disclosed it still enlisted restructuring advisers. In Chapter 11 of the filed document, Diamond stipulated that day rates and demand for its work had “worsened precipitously in recent months,” The […]

The European Union organizations affected by the virus outbreak will have the option to request a government loan up to 5% of their turnover last year under a benchmark proposed by the European Commission, a reliable source stated on Sunday. Different sources with direct understanding on the issue told Reuters on Saturday that some EU […]

The Dollar ended its week-long gain streak on Monday in Asia. The U.S. Dollar Index lost 0.28% to 100.148 at 11:30 Am ET (4:30 AM GMT) Investors had flocked to the Greenback in the previous weeks as a pandemic-led economic turmoil drove to safe-haven inflows and a Dollar shortage. However, some analysts predict that the […]

Oil prices dropped on Monday as oil storages around the world are filling rapidly. This raised concerns that output cuts may not compensate for the collapse in demand due to the pandemic.  U.S. oil futures fell after U.S. crude inventories gained 518.6 million barrels in the week ended April 17, while floating crude oil storage […]

Asian shares rose on Monday as the Bank of Japan revealed additional stimulus measures to support the economy from the impact of the pandemic. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1.2%, recovering some of the 2.6% fall last week. Japan’s Nikkei added 2.1% and Chinese blue chips 1%. S&P 500 e-mini futures […]

The Bank of Japan has been providing stimulus supports for two months already, with additional support filed on Monday to alleviate corporate funding from financial drag. It was also set to aid government spending aimed at nursing the economic downturn brought by the pandemic. “The BOJ will purchase necessary amounts of government bonds without setting […]

The inactivity currently faced by the U.S. economy due to the virus pandemic appears to be the sharpest contraction that will likely boost the national unemployment rate by up to 16% or higher. The steep forecast requires large volumes of stimulus to ensure economic recuperation, a White House economist said on Sunday. “This is the […]

Today, April 24th saw the falling of Asian shares and U.S. stock futures. This resulted from doubts on narcotics that could potentially cure COVID-19 and an apparent damage in the U.S. economy due to the outbreak. Among the shares in the Asian regions that fell are MSCI’s broadest index of Asia Pacific outside Japan with […]

U.S. Natural gas has been set as the most expensive energy commodity for the first time in more than a decade as the COVID-19 pandemic continues to disrupt demand in other regions. U.S. Gas futures gained up to 10% to $1.815 per million BTU in April. The surge comes as investors expect the record plunge […]