Economic news

Oil prices decline on Wednesday as the International Energy Agency (IEA) predict surplus in the first half, easing concerns on the decreased Libya crude output. Brent crude declined 0.4%, or 24 cents, at $64.35 a barrel at 0309 GMT. US oil CLcl dropped 0.5%, or 29 cents, at $58.09 a barrel. Fatih Birol, head of […]

Indonesia central bank to continue accommodative policy to boost monetary growth Indonesia’s central bank plans to maintain its accommodative monetary policy this year to support economic growth, said Bank Indonesia Governor Perry Warjiyo on Wednesday. “All Bank Indonesia’s policy instruments are focused on keeping and strengthening the economic growth momentum,” Warjiyo told a news conference. […]

China stocks slip as virus outbreak raises trader concerns Asian stock markets rebounded on Wednesday as China’s response to a virus outbreak fanned fears of a global pandemic. Shanghai shares dipped amid worries that impact would dampen domestic demand and tourism. Fears of contagion, especially as millions of people travel abroad for the Lunar New […]

Japan recovers from initial virus-related losses, issues still remain Japanese shares made humble gains on Wednesday as investor panic about China’s coronavirus outbreak eased. While hygiene-related firms continued to be in demand, pressure persisted on the tourism sector. The Nikkei share average rose 0.2% to 23,904.51 in mid-morning trade, partially clawing back losses from the […]

Tesla Inc became the first publicly listed US carmaker to reach $100 billion worth in stock market valuation in extended hours trading on Tuesday. This came a month after the electric car maker’s stock reached $420, on which CEO Elon Musk said he would take Tesla private. In a tweet in August 2018, Musk said […]

TOKYO- The yuan sunk down and Australian dollar recorded a six consecutive weeks of decline on Wednesday as investors grew wary that the new strain of virus in China would lead to a slower economy. The coronavirus has already reached Beijing and Shanghai as the number of patients diagnosed with such continues to bloat. The […]

Netflix started the year struggling as increased level of competition dominated the streaming market.  Such is expected to give the online streaming service a tougher year than 2019. Global growth aided the streaming video service from underperformance as it boosted far above expectations in the last quarter of 2019. However, the company recognized tighter market […]

Argentinian economy ministry said that it exchanged 99.6 billion pesos ($1.66 billion) Treasury bills in a debt swap auction to postpone its repayment schedule amid an economic crisis. The ministry conducted an auction for two new peso-denominated bills to holders of five older instruments, with which the government has near-term repayments in February adding up […]

JPMorgan to expand Paris hub post-Brexit JPMorgan Chase & Co became the latest investment bank to significantly expand its Paris hub, seizing new premises in the French capital. The move comes as part of a plan to relocate some its services from London after Britain would severe its two-way access with the bloc. JPMorgan would […]

Global FDI dips amid Hong Kong divestment and Brexit uncertainties: UN Global direct foreign investment (FDI) dipped slightly last year after being knocked back by a massive divestment in Hong Kong and Brexit uncertainties, the United Nations said on Monday. Global FDI flows in 2019 were estimated at $1.39 trillion which was 1% lower than […]