Economic news

KUWAIT- Kuwait imposed necessary measures on Wednesday aimed at aiding its economy from threats of the novel coronavirus. The arrangement involves long-term loans while the central bank requested other banks to implement unrestricted loan repayments for the affected businesses and firms. Kuwait’s March 31 record showed that 289 coronavirus cases were added to the list. […]

TOKYO- Asian shares gained on Wednesday, with Australian shares heavily contributing to the upbeat market activity. However, the margin of risk for equities remains wide as the novel coronavirus contagion brings constant disruptions to the world economy. MSCI’s broadest index of Asia-Pacific shares outside Japan increased up to 0.33%. Australian shares recovered from underperformance with […]

Macy’s M.N, an American department store chain, dropped its spot from the S&P 500 Index standard. Macy’s shares dropped 80% in the last 12 months of their operation which results in a lowered market value of $1.52 billion as of Tuesday’s close, based on Refinitiv IBES data. The company said that the store closures and […]

Japan’s factory activity contracted at a record pace since March 2009 amid a virus-hit economy that led to a sharp decline of domestic and overseas demand. Its Manufacturing Purchasing Managers’ Index (PMI) fell from a final 47.8 to a seasonally adjusted 44.8 in February. This was observed as the lowest in a decade when Japan […]

Gold prices slip as Russia suspends bullion purchase Gold prices fell on Wednesday morning, stretching out losses from Tuesday as speculations grew of Russia planning on moving from a major bullion purchaser to a seller. Gold Futures had slid down by 0.13% to $1,594.45 per ounce at 09:40 PM ET (2:40 AM GMT). However, the […]

SHANGHAI – Apple has sourced and procured 10 Million masks to donate them to the medical community of China amid the coronavirus outbreak. CEO Tim Cook said that Apple resumed its operations and reopened its 42 stores in China. The Apple stores had been closed in the early weeks of February as China restricted travel […]

General Motors GM.N directed suppliers to halt preparations on Monday for the updates of SUVs and other future models for the next year 2021 because of the coronavirus pandemic. General Motors urged its suppliers to delay their planned launch next month. This delay is a signal to the car business industry to conserve cash until […]

Oil prices strongly rebounded after United States President Donald Trump and Russian President Vladimir Putin finally decided to meet and talk about global energy markets on Tuesday. Oil markets have plunged to 18-year lows shortly after the coronavirus pandemic decreased fuel demands all around the world. Brent oil price LCOc1 jumped to 30 cents, at […]

Developing economies in East Asia and the Pacific, as well as China, are expected to suffer steep decline in growth due to the coronavirus pandemic, according to the World Bank on Monday. The bank announced that specific growth forecasts were difficult due to the uncertainty of the situation however, it says estimates are between 2.1% […]

The dollar climbed against the Japanese yen on Tuesday after businesses and investors covered a shortfall in the U.S. currency, but overall market sentiment remained gloomy due to intensifying risks of the pandemic. The Chinese yuan remained steady despite a growth recovery in the manufacturing sector in March, as investors stayed skeptical of the recovery […]