Economic news

We are no longer strangers to Elon Musk’s love-hate relationship with Bitcoin and of late, he is leaning towards the love. The Techno titan and Tesla CEO and SpaceX Chief Engineer was quoted saying in last week’s Code 2021 event in Beverly Hills that, “It is not possible to, I think, destroy crypto, but it […]

Oil prices rose again on Monday, extending their multiweek gains as major economies grappled with a global energy crunch. The energy shortage showed no signs of letting up amid a recovery in economies and supply constraints from major producers. Brent crude jumped 1.5%, or $1.25 cents, at $83.59 per barrel by 0656 GMT, after its […]

Gold fell on Monday in Asia amid expectations that the U.S. Federal Reserve would begin its asset tapering in line with its timetable despite the lackluster data in the latest U.S. jobs report. Gold futures went down 0.14% to $1,754.95 by 12:14 AM ET (4:14 AM GMT). The yellow metal reached a two-week high on […]

Japanese Prime Minister Fumio Kishida assured on Monday that he would prioritize boosting wages through tax incentives instead of imposing higher levies on capital gains and dividends to tackle the country’s income gap. Answering questions from oppositions in the parliament for the first time since becoming prime minister, Kishida said that a near-term priority would […]

Japanese household’s inflation expectations jumped in the third quarter, based on a survey released on Monday.  According to a quarterly central bank poll, the percentage of Japanese families expecting prices to rise in a year’s time rose to 68.2% in September. This was higher than June’s 66.8%. The percentage of families expecting price increases in […]

The global spread of the more infectious Delta COVID-19 variant could possibly disrupt  Singapore’s economic recovery in the third quarter. The situation could potentially force the central bank to stay on hold with its policy.   Majority of the economists polled by Reuters expected the Monetary Authority of Singapore to maintain its policy setting on […]

The dollar performed well on Monday morning in Asia, touching a two-and-a-half-year high against the yen. Investors are still expecting the United States’ Federal Reserve to start its asset tapering this November despite an unfavorable U.S. jobs report. The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.01% higher to 94.093 […]

European stock markets have opened unchanged on Friday as investors became wary before the release of key U.S. jobs data that would give clues into the Federal Reserve tapering’s timing. The DAX futures contract in Germany climbed 0.1% higher in trading and the CAC 40 futures in France declined by 0.1%, all while the FTSE […]

In the U.S., the amount of Ethereum currently held by miners had reached record levels in the country’s currency. To date, the amount being held by the Ethereum miners is at its largest since its launch. Upon conversion into the U.S. dollar, the amount had been revealed at a peak of $1.85 in accordance with […]

Samsung Electronics Co. Ltd. noted a 28% gain in its third-quarter operating profit, its highest in three years, thanks to increasing memory chip prices and display sales for new flagship smartphone launches. The initial result was 26% higher than the second quarter but was still lower than forecasted, while the market reaction dampened as analysts […]