Economic news

Wall Street broke from record highs and Asian shares declined after Apple Inc said it will not reach its revenue guidance for the March quarter due to a slower production and weaker demand amid the virus outbreak. The news roused investors from optimistic outlook as it was revealed that China’s economic stimulus would do little […]

TOKYO- The euro declined and on track towards three-year low against the dollar. Such inactivity was recorded ahead of the highly anticipated German poll to be released on Tuesday. The said survey is expected to reveal large setback in investor sentiment and trigger pessimism on European economic forecast.                 Financial markets resorted to tight ranges […]

HSBC Holdings PLC posted its annual profit on Tuesday, showing a 33% decline and falling below analyst forecasts. The decline was caused by a $7.3 billion goodwill impairment linked to its commercial banking and investment banking businesses in Europe. HSBC reported a $13.35 billion profit before tax for 2019, compared to $19.89 billion the previous […]

SINGAPORE- Oil prices sunk down on Tuesday as novel coronavirus concerns weighed on the economy directly dragging oil demand in China, the world’s second-largest crude importer. In line with this, financial markets continue to record series of losses.                 Brent crude LCOc1 shed 37 cents, equivalent to 0.6%, to $57.30 per barrel by 0126 GMT. […]

Indonesia posts larger than expected trade deficit as declining export prices affects trade Indonesia’s trade gap widened sharply in January as falling metal prices weighed on exports. The data was posted on Monday from the country’s statistics bureau. Southeast Asia’s largest economy showed a trade deficit of $870 million in January compared to the expectations […]

Oil prices eased after seeing its biggest weekly gain since September as hopes for an OPEC+ emergency conference on the coronavirus faded. Despite Saudi Arabia pushing for a meeting scheduled this month, OPEC+ are expected to hold the conference in March after Russia recoiled from the plan. Meanwhile China, Hong Kong, and Singapore have promised […]

Japan’s economy fell to its fastest pace in six years, caused by a sales tax hike that hit business and consumer spending, worsening an outlook already affected by the virus outbreak. Analysts say that the epidemic could weaken growth in the current quarter and thrust Japan into recession. Japan GDP fell 6.3% in the final […]

The euro slipped on Monday as Europe’s economic growth weakened amid concerns raised by financial markets and policymakers on the coronavirus outbreak in China. The euro closed at $1.0817 on Friday, hitting a 33-month low. It went up $1.08385 on Monday’s early Asian trade. The German economy was stable in the fourth quarter due to […]

British shoppers will have to face a tougher market situation by getting relatively higher prices and reduced supply of goods if the Boris Johnson-led British government won’t be able to iron things out with the European Union on regulatory checks at ports in post-Brexit agreement, the British Retail Consortium (BRC) said on Monday. The United […]

SINGAPORE- Oil prices underperformed as investors await for Asian economic records that will state the implications of the 2019 novel coronavirus contagion on oil demand in China, world’s second-largest oil importer.  The said data is set to be released this week. Brent crude LCOc1 shed 33 cents, and last stood at $56.99 per barrel by […]