Economic news

Dollar outperforms Euro as investors consider a deepening virus impact The U.S. Dollar towered over the declining Euro and other heavily sold exporter currencies on Wednesday as investors took into consideration of a deepening economic fallout due to the coronavirus outbreak in China. The virus’ death toll in China rose to over 2,000 with more […]

EU to propose plans to boost European firms and compete with U.S. tech giants The European Commission said on Wednesday that it will launch initial proposals to help companies in Europe benefit from its rich industry data. The proposal will also help the companies compete better against U.S.-based tech giants such as Facebook Inc., Alphabet […]

The Federal Reserve Bank of New York said on Tuesday that American consumers are anticipating their household spending to inflate more slowly over the next twelve months. The median forecast yielded an overall 2.3% increase for household spending among U.S. citizens over the next financial year as of December. This is relatively lower from the […]

Thailand’s economy will grow at a slower pace than previously predicted and lower than its potential, according to the Central bank’s minutes of the meeting. The Central Bank has already cut interest rates to record low due to the increasing risks of the virus outbreak, delayed government spending, and drought. The monetary policy committee opted […]

Japanese machinery orders fell at the fastest pace since 2018, while exports declined for its 14th straight month as Japan’s economy struggled against the impact of the recent sales tax hike and the novel coronavirus outbreak. Exports declined by 2.6% in January compared to the previous year, smaller than a 6.9% decline predicted by analysts. […]

TOKYO- Asian shares and U.S. stock futures clocked in gains on Wednesday. Upbeat market activity followed as investors grew a bit optimistic on recent decline in the novel coronavirus’s number of new cases. MSCI’s broadest index of Asia-Pacific shares outside Japan strengthened with 0.03%. The index fluctuated during its early session simultaneously switching between earnings […]

TOKYO- Oil prices recorded a well-ended session on Wednesday. However, it remained neutral as gains were restricted by the growing damage of the coronavirus contagion which originated from China.  In line with this, a decrease in new cases was recorded in Hubei, the center of the outbreak. Brent crude LCOc1 added 6 cents and last […]

South Korea president pledges steps for virus-hit economy, rate cut expectations boosts South Korea’s President Moon Jae-in said on Tuesday that the government would be making a full-scale push to soften the economic blow from the fast-spreading coronavirus. The comment increased expectations of further monetary easing. The outbreak of the virus disrupted world supply chains […]

Alibaba Group Holdings announced on Monday that its affiliate Ant Financial’s MYBank unit is out to lend 20 billion yuan ($2.86 billion) in loans to firms in China amid the coronavirus spread, with special offerings for companies in Hubei province. According to Alibaba’s official statement posted on its official Weibo account, 10 billion yuan will […]

Asian markets fell on Tuesday following the news of Hong Kong and Japan’s Apple stocks were declining sharply after the tech giant issued a revenue warning. The Hang Seng Index and South Korea’s KOSPI dropped by 1.3% by 10:45 PM ET (02:45 GMT), while Japan’s Nikkei lost 1.6%.   In China, the Shanghai Composite and […]