Economic news

The dollar declined on Thursday morning in Asia but stayed near a 14-month high versus the euro. This came as inflation due to a surge in energy prices continues to distress investors. The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.03% lower to 94.248 by 10:53 PM ET (2:53 AM GMT). The USD/JPY pair […]

Hitting $83 per barrel coupled with OPEC+’s refusal to take production up a notch to best concerns of tight global energy supply, oil had reached multi-level highs on Wednesday. Gains were soon unwound due to a report released by the American Petroleum Institute (API) that shows a rise in crude inventories within the U.S. Also […]

Shares across the globe fell with government bond yields rising on Wednesday alongside the increase in oil prices, the highest hit in 7 years for the commodity. This factors in the apprehension of rising inflation. The Euro STOXX 600 fell by 1.8%, hurting its gains on its best day in 11 weeks on Tuesday, with […]

German multinational travel and tourism firm, TUI Group, had been reported to have made plans to raise 1.1 Billion Euros ($1.27 billion) in equity to pay its debt due to the pandemic. This came to light with its report of holiday bookings increasing late summer. It is public knowledge that the German government had bailed […]

Russia will post a stronger-than-expected economic recovery this year. However, United States sanctions, slow vaccination progress, and monetary tightening will drag its growth, the World Bank reported on Wednesday. The World Bank brought its expectation of Russia’s gross domestic product growth to 4.3% this year from June’s projection of a 3.2% expansion. It also revised […]

The Reserve Bank of New Zealand (RBNZ) raised its interest rate for the first time since July 2014 on Wednesday. The central bank also hinted at more policy tightening as it seeks to contain inflationary pressures and calm the country’s surging property market. The RBNZ increased the cash rate to 0.50%, as predicted by all […]

The dollar continued its gains on Wednesday morning in Asia and hovered near its highs this year. Investors’ focus shifted to New Zealand’s move in raising its interest rate on Wednesday and to the latest United States’ jobs report due on Friday. The U.S. Dollar Index that measures the greenback against other major currencies tallied an increase […]

U.S. President Joe Biden’s national security adviser Jake Sullivan will talk with China’s top diplomat Yang Jiechi in Switzerland on Wednesday. The two party’s meeting upholds a pledge by the two superpowers to boost communication amid a deepening strategic rivalry. The meeting, to be held in Zurich, comes at a time of increased tensions between […]

Oil edged lower on Wednesday in Asia, but West Texas Intermediate (WTI) futures reached their highest level since 2014 as a global energy crunch continues to tighten the crude, natural gas, and coal markets. Brent futures were also held back by concerns over remaining supply, while the commodity mulled over a decision from the Organization […]

Bank of Japan Governor Haruhiko Kuroda assured that Japanese firms have no pressing need to increase wages as they have kept jobs during the previous year’s pandemic-induced economic recession. This means that the country’s firms have no need to fill job vacancies as quickly as U.S. companies. Kuroda informed on Wednesday that the surge in […]