Economic news

Oil prices rise as Libya shuts down crude production Oil prices soar to its highest in more than a week on Monday after Libya began halting operations on two of its major production bases through military blockades, potentially reducing national output to a fraction.   Brent crude went up by 0.5% to $65.20 after having […]

The Japanese yen climbed while Chinese yuan fell against US dollar as news of coronavirus outbreak in China raised concerns among investors, causing Asian stocks to fall. The yuan fell against the USD in onshore and offshore trade as the fourth death due to the illness was confirmed. A Chinese health expert also warned that […]

SYDNEY- Asian shares slipped on Tuesday as growing concerns about a recently discovered strain of coronavirus in China swiped in risks in Asian financial markets.                 Safe-haven bonds and the yen marginally advanced as investors recalled implications of SARS virus back in 2003, with the possibility of nationwide spread of coronavirus as millions will visit […]

SINGAPORE- Oil prices inched down on Tuesday as investors paid little attention to previous supply concerns following Libya’s declaration of a force majeure on two oilfields.                 Brent LCOc1 was down 30 cents, equivalent to 0.5% at $64.90 per barrel by 0318 GMT.  The crude eased down after soaring to its highest in more than […]

China will push negotiations with American companies in raising US importation of goods and products with consideration to market principles, said an official with state planner. Spokesperson for the Chinese National Development and Reform Commission (NDRC) Meng Wei said at a press con that the US has high quality supply of energy, agricultural products, financial […]

Over 1,000 EU firms to open UK branches after Brexit Over 1,000 banks, asset managers, payments companies, insurers in the European Union are planning to open their offices in a post-Brext UK in order to mitigate the loss of businesses going the other way, according to regulatory consultancy Bovill on Monday. The new offices have […]

IEA warns oil and gas companies about lax emission policies The International Energy Agency (IEA) on Monday cautioned oil and gas companies that failing to increase investments in low carbon energies may result in them facing backlash that could threaten long-term profits and public support. Around 15% of global energy-related emissions have come from the […]

Chief Executive officer Brian Moynihan of Bank of America Corp said that the bank could raise its consumer market twice larger in the US despite fear of major banking institutions. “Our market share in consumer is probably 12, 13, 14 percent, depending on who counts. … The reality is, you could double that,” Moynihan said in […]

BEIJING- China assured to stabilize the industrial growth and aid its progress for 2020 despite pressing concerns encountered by the sector, Minister of Industry and Information Technology Miao Wei said on Monday. China’s industrial production surpassed expectations last December by jumping up to 6.9% from a year earlier. Such was the most rapid pacing it […]

Oil prices hiked as two major crude production in Libya shut down due to a military blockade, causing oil flow to slow down. Brent crude LCOc1 futures rose 1.25%, or 75 cents, at $65.60 by 0109 GMT, earlier rising to $66.00 a barrel, its highest since Jan. 9. West Texas Intermediate CLcl contract rose 1%, […]