Economic news

Global economic uncertainties and a sales tax hike in 2019 may have hit hard on capital spending and inflation expectations, warned Bank of Japan policymakers as reflected on the central bank’s minutes of the meeting in December. One member proposed to impose a stimulant based on the effect tax hike caused on private consumption. The […]

With growing inclination in technology, several central banks are planning to release their own virtual currencies, according to findings of Bank for International Settlement. Research showed an additional 10% increase as 20% of the 66 central banks interviewed are planning to have their own digital coins within the next six years. In line, one in […]

Oil prices were stable on Friday but are expected to sink lower with an estimated 5% loss for the week. Such was brought by emerging concern that fuel demand may weaken as the coronavirus that originated from Wuhan City of China that has resulted to death of 25, may impact travel and drag the economy. […]

Oil and gas company bankruptcies in the U.S. and Canada surged 50% compared to last year, according to a report by Haynes and Boone law firm. The figure is likely to go higher as a decline in energy prices continue to rock producers. U.S. and Canadian oil company bankruptcies increased to 42 in 2019, compared […]

Malaysia’s leading sugar producer disclosed its plan of purchasing higher volume of sugar from India, with sources saying that the scheme is an attempt to resolve its ongoing feud with New Delhi over palm oil exports.   MSM Malaysia Holdings Berhad (MSMH.KL) is set to purchase 130,000 tonnes of raw sugar from New Delhi worth […]

Australian employment rate outpaces forecasts, analysts throw in the towel on February rate cut Australian employment outpaced forecasts for a second month in December pushing the unemployment rate to a nine-month low – a much-needed statistic for analysts that speculated a near-term cut in interest rates. The Aussie Dollar climbed 0.47% to $0.6874 as the […]

Asian stocks drop as China’s containment plan puts Wuhan city in lockdown Asian stocks had dropped on Thursday morning after China issued a travel suspension in the entire city of Wuhan to prevent the spread of the Coronavirus. Both the Shanghai Composite and the Shenzhen Component fell by 0.5% at 10:30 PM ET (02:30 GMT). […]

The Japanese Yen advanced and Chinese Yuan plummeted on Thursday, as traders remained cautious on China’s Coronavirus. The Australian Dollar recuperated from previous inactivity over strong employment statistics. The Safe-haven Yen increased by 0.2%, closing its session with two-week high record of 105.56 per dollar. Yuan underperformed as dollar recorded its strongest activity in two […]

Ford Motor Co said that its fourth quarter earnings will be affected by a pre-tax loss of up to $2.2 billion caused by a higher contribution to its employees’ pension plans. The higher contribution was due to a decrease in discount rates, which leads to a larger amount of money to be contributed for future […]

Oil prices sunk to lowest level in seven weeks on Thursday dragged by anxiety that contagion of China’s new strain of virus may reduce fuel demand. In line, figures disclosed that United States’ oil inventories advanced last week. The persistent and threatening Coronavirus has resulted to the death of 17 people since it was first […]