Economic news

Kia Motors to suspend South Korean production plants as auto parts supplies dwindle Kia Motors has said that it would be suspending production at its three car manufacturing plants in South Korea due to a dwindling supply of auto parts, according to a company official on Monday. Kia Motor’s factories located at Gwangju and Sohari […]

China’s inflation rate rises following Lunar New Year and virus outbreak China’s consumer prices increased at is fastest pace in more than eight years in January, according to official data released by the National Bureau of Statistics (NBS) on Monday. The consumer price index CPI) came in at 5.4% last month on-year which went higher […]

Three days after posting dismaying profit figures and earnings outlook, Ford replaces Joe Hinrichs, appointing Jim Farley as the new chief operating officer. Joe Hinrichs, who came from General Motors, served Ford for 19 years.  He was the president of new businesses, technology, and strategy department before getting appointed as the COO. “Jim Farley is […]

Asian currencies gained on Monday as signs of the coronavirus slowing down prompted large businesses in China to resume operations. Workers started to return to offices and factories as the government relieved some travel restrictions. The epidemic has already killed over 900 people, most of whom reside in mainland China. The Australian dollar gained 0.5%, […]

SINGAPORE- The dollar clocked in gains on Monday after positive jobs statistics indicated that US economy is strengthening. In line with this, weeks-long concerns of coronavirus contagion kept trade-exposed currencies neutral. Figures released on Friday disclosed that US jobs growth increased last month, completely surpassing previous forecasts, with laudable progress and growth in construction sector- […]

SINGAPORE- Oil prices sunk down further, continuing its previous decline from earlier part of January as worries of oversupply dampened market sentiment. Such inactivity was brought by coronavirus contagion that capped oil demand in China, the world’s biggest oil importer. Brent crude LCOc1 shed 38 cents to $53.63 per barrel with initial trading value of […]

Wall Street stands on record highs as virus’ impact concerns subside Wall Street gained record highs on Thursday as traders cast aside piling concerns on the coronavirus spreading in China. The Nasdaq Composite climbed 0.67% while the S&P 500 went up 0.33%. Meanwhile, the Dow Jones Industrial Average was 0.3%, marking all 3 major averages […]

Toyota suspends production at China plants amid virus outbreak Toyota Motor Corp on Friday said that it would be suspending its production plants located in China as the spread of the coronavirus throughout the country continues to pick up pace. The automaker said that it may resume production after Sunday, February 16. However, it said […]

Benjamin Diokno, the top official of the Philippine’s central bank, bared that he was considering having the next monetary easing via an interest-rate cut “sometime in the middle of the year.” “With another rate cut yesterday, we still have a   lot of monetary space,” Diokno said. On   Thursday, the central bank cut its benchmark rate […]

Oil prices soared on Friday after Russia sided with a recommendation for OPEC and other oil associates to further reduce oil outputs amid dwindling demand for crude as China struggles to combat coronavirus that has impacted global markets. Brent crude futures increased 34 cents, equivalent to 0.6%, to $55.27 per barrel at exactly 0250 GMT. […]