Economic news

The U.S. Dollar held overnight gains against most major currencies on Wednesday amid a rise of U.S. yields and piling fears of the economic impact of the coronavirus pandemic had investors retreating to the Greenback. The British Pound as well as the Japanese Yen attempted to recover at its best efforts but only managed to […]

Samsung Electronics Co Ltd said on Wednesday that while the piling economic fears of the coronavirus pandemic would hurt sales of consumer electronics for 2020, it said that a growing demand from data centers could potentially restore its memory chip markets. Chief Executive Kim Ki-nam said that the virus outbreak as well as the U.S.-China […]

Gold prices took back ground from Tuesday’s $1,500 drop on Wednesday morning as new U.S. stimulus package bounced stock markets sharply overnight. Gold futures inched up by 0.55% to $1,534.20 by 10:20 PM ET (2:20 AM GMT). The rise in gold prices has been widely attributed to recent efforts around the world to prevent a recession. Central […]

Oil prices steadied on Wednesday after hitting four-year record lows, hit by weak fuel demand, global travel ban, and social restrictions to contain the virus pandemic. Brent crude went up 0.3%, or 8 cents, at $28.81 per barrel. The international benchmark dropped 4.3% on Tuesday. U.S. crude slid 2 cents, at $26.93 per barrel. West […]

Airbus (AIR.PA) made its plans on suspending production in France and Spain for 4 days public. This is of course due to the coronavirus crisis that had reached even the financial sector.   To date, the pandemic had been the most serious across-the-board disruption in the company’s operations. In 1989, a strike at its British […]

The United Kingdom had announced on Tuesday that it would be ramping up on support for businesses affected by the virus outbreak. The government had recently told its people to avoid public areas such as pubs, restaurants, and theaters which had hurt a majority of companies in the country. The Bank of England’s Finance minister […]

Bank of Japan (BOJ) Governor Haruhiko Kuroda said on Tuesday that it would ease monetary policy once more if the country’s if the coronavirus-hit economy worsened. As Japan’s government works to limit the spread of the virus as well as aid businesses affected by the outbreak, the Bank of Japan has taken up the role […]

Crude prices have plummeted due to the coronavirus outbreak that had left Gulf Arab governments with a morsel of options to re-establish fiscal stability. This, they are doing, as they try to shield their economies and fight for currency pegs.   Even Saudi Arabia, deemed the richest among the Arab nations, which had been in […]

Finance Minister Bruno Le Maire on Tuesday announced that France will be sending €45 billion ($50.22 billion) toward companies across the country after many expected its virus-hit economy to drop by 1%. Le Maire said that a major part of the fiscal package would be the deferral of all taxes and payroll costs that companies […]

U.S. stocks suffer historic drop as the country shuts its borders and governments worldwide impose drastic measures to contain the virus and the damages it has caused. Financial markets experienced their worst day in 30 years despite the emergency measures by central banks in an attempt to avoid a recession. US stock markets fell 12% […]