Economic news

Chinese Yuan holds steady amid coronavirus-led anxiety China’s currency and stock markets held steady on Tuesday after news of the spreading virus in China hit the Yuan. In the previous session, the Yuan had lost around $400 billion in market value from the Shanghai benchmark index. The Shanghai Composite opened 2% lower before regaining ground […]

Piling virus concerns drive oil markets into bearish territory, OPEC+ calls urgent meeting Oil prices fell at nearly $50 a barrel as concerns on the coronavirus drove it into a bearish market. On Tuesday, OPEC called for an urgent meeting with its allies in order to measure the impact of the virus on global demand. […]

Yuan and Aussie Dollar readies itself for vulnerability ahead of China market re-opening The China’s Yuan and its proxy, the Australian Dollar had readied itself for a vulnerable trading day on Monday as global authorities employed drastic steps to contain the spread of the coronavirus. Many had focused on how China’s financial markets would manage […]

China’s industry reports first profit decline in 4 years China’s industrial firms on Monday posted their first annual decline in profits in four years in 2019. The decline has been attributed to the country’s slowest economic growth in almost 30 years and the prolonged trade war it had with the United States. Official data showed […]

Louis Vuitton launched its new business venture by opening its Osaka-based store in Japan, featuring a restaurant and café named Le Café V and Sugalabo V as its new flagship store. The Louis Vuitton Maison Osaka Midosuji is a high-end eatery. Its menus were curated by chef Yosuke “Suga” Sugalabo, a well-known restaurant owner in […]

Days after Brexit, British Prime Minister Boris Johnson would consider setting a looser trade agreement with the European Union, a trade deal arrangement akin to that of the EU and Australia trade ties. This possibility is an indicator that the United Kingdom is unlikely to follow the EU’s rules to come up with a trade […]

Oil prices continued losses due to lower demand in China in the face of the virus outbreak. China is the world’s largest oil importer. US West Texas Intermediate (WTI) and Brent crude slid for the fourth straight week after international airlines canceled flights to China. Supply chains in China have also been disrupted, causing its […]

Chinese stock and commodity markets plunged on Monday’s opening as investors ditched risky assets due to rising concerns on the coronavirus spread. The market drop took away nearly $370 billion, or 9% lower in market capitalization from the Shanghai Composite index .SSEC. The yuan opened at its lowest level this year, slipping 1%, past the […]

Investors are apprehensive with news of renewed Brexit uncertainty. They had looked into the Kingdom’s economic fundamentals that strongly suggest of economic slowdown. Should the stagnation carry on, rate cut speculations will happen and will pressure the Pound further The Bank of England lowered the forecast for quarterly growth in the remaining 3 months of […]

Nintendo CEO says no plans for new Switch model in 2020 Nintedo Co Ltd. CEO Shuntaro Furukawa said on Friday that it has no plans to launch an upgraded Switch model this year. The news halted rumors that the gaming company would release a newer version of the hit handheld device. His comments came a […]