Economic news

China’s service sector recovered in September as COVID-19 infections in the eastern province of Jiangsu eased. However, the pandemic’s risk to the economy persists. The Caixin services purchasing managers index (PMI) increased to 53.4 in September from August’s 46.7 reading. The Caixin survey, which focuses on the private sector, also breached the 50 mark, indicating growth. Data […]

The U.K. will ask British businesses what they want the agreement to cover on Friday, the country’s first step toward trade negotiations with the six-country Gulf Cooperation Council (GCC). Trade Minister Anne-Marie Trevelyan is aiming for a deal with the GCC as she seeks to establish new ties around the world after Britain’s exit from […]

Japan’s household spending experienced a sharper-than-expected decline in August. The curbs that were set in place to deal with the coronavirus pandemic when the country was in a state of emergency dragged down consumption during the summer holiday season and risked undercutting the economy’s recovery. Government data released on Friday did not bode well for […]

Gold edged lower on Friday in Asia but remained steady as investors held back from making big bets ahead of the latest U.S. jobs report. Gold futures dipped 0.03% to $1,758.60 by 12:22 AM ET (4:22 AM GMT), down about 0.3% so far in the week. The dollar, typically moving inversely to gold, moved up […]

Germany’s exports dropped for the first time in 15 months in August. The decline was mainly owed to the supply chain-driven inflationary pressures hurting exporters.   Seasonally adjusted exports from Germany shed a month-on-month 1.2% to 113 billion euros ($130 billion). The reading did not meet economists’ expectations of a 0.5% increase. German industrial orders […]

The dollar rose on Friday morning in Asia but below a one-year high following an improvement in risk appetite. Meanwhile, the Australian dollar hovered near a three-week high after gaining 0.55% versus the U.S. dollar. The U.S. Dollar Index that measures the greenback against other major currencies climbed 0.01% to 94.233 by 10:37 PM ET (2:37 […]

A bug unravels staking provider Lido, delaying the launch of Eth2’s staking service, Rocket Pool. The postponement had been announced on Oct. 6th as the development team attempts to resolve the bug. In a Tweet from the firm, the team stated that the changes being administered to render the protocol bugless are “relatively minimal” and […]

Investors anticipate a stronger opening for the stock markets on Thursday owing to the week’s volatile trading with falling energy costs and signs of compromise in Washington boosting sentiment as said events averted a U.S. default. The DAX futures contract in Germany inched higher in trade at 0.6% at 2 AM ET. Meanwhile, the CAC […]

The Indonesian parliament passed into law the country’s major tax reform bill on Thursday. The law will focus on optimizing revenue collection and boosting tax compliance. This came as the government fund took a huge blow last year due to the COVID-19 pandemic. The law proposes the VAT rate on practically all goods and services […]

Myanmar’s military-appointed authorities are making developments in solving the country’s currency problem, with the kyat stabilizing and current measures keeping prices under control. Sixty percent of the kyat’s value was lost in September. It resulted in high food and gasoline costs, adding to a lot of issues faced by a weak economy that has been […]