Economic news

SINGAPORE- Oil fell flat on Friday as crude demand concerns brought by the fast-paced coronavirus contagion were intensified by ambiguity over non-OPEC oil manufacturers still not reaching an agreement for oil cuts to aid prices. Brent crude LCOc1 erased 47 cents, equivalent to 0.9%, and was last quoted at $49.52 a barrel at exactly 0223 […]

The U.S. Senate passed an $8.3-billion bill and sent it to President Donald Trump in an effort in aiding state and local governments to fight the spreading of the coronavirus. The bill, which was initially approved on Wednesday by the House of Representatives, is now expected to be signed into law where the funding would […]

The Asian Development Bank (ADB) said on Friday that the spread of the exceedingly infectious coronavirus outside of China might cut worldwide economic growth for the year. According to the Manila-based lender, the outbreak could cut global GDP by 0.1% to 0.4% with losses reaching between $77 billion and $347 billion. In Asia, development could […]

Former Uber Technologies Inc. head’s self-driving technologies unit Anthony Levandowski filed for bankruptcy protection on Wenesday. This came following a court sanction of $179 million payment to Google after his separation from the company. Levandowski, who worked as a key engineer in Google’s self-driving project, and his colleague Lior Ron violated legal obligations and pursued […]

Asian markets gained on Wednesday following the International Monetary Fund (IMF) unveiling a $50 billion aid package with efforts to combat the spread of the highly contagious coronavirus. IMF Managing Director Kristalina Georgieva said in an interview with CNBC that the fund is aimed toward low-income and emerging market countries and would be available without […]

The U.S. House of Representatives approved an $8.3 billion bill in an effort to contain the outbreak of the coronavirus and commence the developing of vaccines. The bill, which was passed on Wednesday, will be sent for final approval to the Senate where a vote is due Thursday. The bill was overwhelming in favor, voting […]

The Dollar recovered from its decline against the Euro with a lift from positive jobs data on Thursday. The Japanese yen, considered safe haven currency, lost a little of its recent gains back to the dollar, as market risk appetite improves on the return of Joe Biden in the Democratic Party. High U.S. labor-market data […]

The Federal Reserve released a report on Wednesday claiming that the U.S. economy expanded at a moderate rate in the first weeks of the year, with the study conducted during the incipient rollout of the setbacks in the markets brought by the outbreak of the new coronavirus. “There were indications that the coronavirus was negatively […]

SYDNEY- Asian shares grew stronger hitting its fourth session of high on Thursday as U.S. markets actively performed and another set of central bank financial stimulus cleared the previously murky global economic forecast. Wall Street stabilized on a well-ended performance of former Vice President Joe Biden during the Democratic campaign. Biden was viewed to less […]

SINGAPORE- Oil prices soared more than 1% on Thursday after its underperformance the previous day on a lower-than-expected increase monitored in the United States. However, earnings were restricted by ambiguity whether major oil manufacturers will implement deeper output reduction. Brent crude LCOc1 advanced 78 cents, equivalent to 1.5%, and was last quoted at $51.91 per […]