Economic news

The Japanese yen is nearing its worst week in over two years on Friday as coronavirus concerns spread to Japan, Beijing, and South Korea, moving funds to the U.S. dollar. The yen dropped to its lowest since April after two straight days of heavy selling, weak domestic data, and intensifying virus risks, causing investors to […]

TOKYO- Japanese manufacturing activity experienced the sharpest decline in seven years in February, as series of impact and disruptions brought by the coronavirus contagion boosted the possibility of a recession in the world’s third-largest economy. The underperformance of the sector indicated that the virus greatly impacted the global growth and business, prompting Japanese authorities to […]

TOKYO- Oil prices underperformed on Friday as concerns regarding demand continue to disturb investors. Such inactivity followed after the coronavirus contagion encroached territories outside China while leading oil manufacturers launched to deeper output production to alleviate the market from harm. Brent crude futures lost 24 cents, equivalent to 0.4%, and last stood at $59.07 per […]

China had cut the benchmark lending rate on Thursday in a widely-anticipated action to lessen its business’ financing costs in an economy disrupted by the virus outbreak. The one-year loan prime rate (LPR) was lowered by 10 basis points to 4.05% at the previous monthly fixing. Meanwhile, the five-year LPR was cut by 5 basis […]

The S&P 500 and Nasdaq closed at record highs on Wednesday amid expectations of a newly-issued stimulus from Beijing to soften the economic impact of the coronavirus. The spread of the virus had been reported to show signs of  slowdown in China. The S&P 500 soared 0.47% while the Nasdaq Composite surged 0.87%. Meanwhile, the […]

The Japanese yen dropped to a near nine-month low against the dollar as investors recover gain appetite, hoping that China can reduce the impact of the virus outbreak. The yuan was down in onshore trade against the dollar after China cut benchmark loan prime rate to support its economy. The AUD dropped to its lowest […]

Investors preferred the dollar as safe haven as the yen suffered a sudden drop, causing investors to dodge local assets. Most currencies, from the Australian dollar to the Indian rupee were troubled as the virus’ impact caused investors to seek the dollar. China reported fewer new infections on Thursday. However, scientists warn that the virus […]

European Union leaders will have to figure by themselves the surfacing budget issues they now inevitably face as Britain formally left the bloc in January. The void is in the bloc’s 2021-2027 finances, with Britain plucking out a whopping 75 billion euro ($81 billion) budget from the EU. The coming seven-year budget plan covering the […]

WASHINGTON- The coronavirus contagion has already brought intensive level of tension in China’s economy and further spread of the virus to other nations could inflict more damage to an already weak recovery of global economy, the International Monetary Fund disclosed on Wednesday. Included in the document released by the international lender were risks including the […]

Oil clocked in an estimated 1% gains on Thursday, continuing its upward movement from Wednesday as the market was dampened by supply sentiments. In line with this, demand concerns were minimized following a big decline in new novel coronavirus diagnosis at Hubei province in China. Disputes in Libya which led to port and oilfields restrictions […]