Economic news

Japan Display Inc is in negotiations with Ichigo Asset Management to receive 90 billion yen ($830 million) in financial support, according to a source. The company released a statement wherein it disclosed that it was in talks with Ichigo regarding investment, as well as a basic agreement on fund procurement. The company however said that […]

Australian shares heavily suffered on Thursday as one of the country’s top lender Westpac Banking Crop shed 1% loss sparking investors rage over money laundering anomalies. The S&P/ASX 200 index ended its session with 0.7% setback, equivalent to 43.8 points at 6,708.8 as the alpha four banks all declined ranging from 0.7% to 1.3%. Westpac […]

TOKYO-Oil clocked in gains on Thursday with market sentiment relieving from anxiety as OPEC changes its 2020 forecast mainly from records disclosing increase in US crude inventories.                 Brent futures LCOc1 climbed 24 cents, equivalent to 0.4% to $63.96 per barrel at exactly 0242 GMT. Such activity followed after 1% loss on Wednesday brought by […]

Ping An Insurance’s OneConnect downsizes planned IPO by 28% OneConnect Financial Technology, a unit of China’s biggest insurer Ping An Insurance, downsized its upcoming IPO in the U.S. by 28%. The firm set a price range of $9 to $10 per share, down from the previous $12 to $14 per share range. It also downsized […]

Australia’s Central Bank sees China slowing down to 3% by 2030 The Reserve Bank of Australia (RBA) reasoned how China’s economic growth could slow down to around 3% by 2030 as a result of low birth rates, corporate debt, and low productivity. “China’s period of ‘above-normal’ growth is drawing to a close,” the RBA’s Ivan […]

After its December meeting on Wednesday, the Federal Reserve said it would keep interest rates at the current level, marking an end to the series of rate cuts that aided economy and markets amid recession fears brought by trade disputes along with other uncertainties. Fed’s policymakers unanimously voted to keep rates steady and blinking between […]

The currency pair, EUR/USD is trading beneath 1.11; it is consolidating its gains. Such has happened as there is tension borne out of the uncertainty regarding the U.S. tariffs being planned to be placed on China. Pressure is also being felt as U.S. inflation is rearing its ugly head alongside the all-important Fed decision. While […]

At present, the GBP/USD is trading below 1.3150. It has consolidated its losses after British polls revealed that the Conservative are in the lead for UK elections. Here are the important figures: POUND RATESGBP/USD 1.31 50 1/ 51 1-0.00384 (-0.29%)EUR/GBP 0.84 24 3/ 25 40.00126 (0.15%)GBP/JPY 142.94 70 0/ 20 0-0.49850 (-0.35%) Technical Analysis of […]

Oil prices dropped due to an unforeseen build in crude inventory in the United States and a slow progress in the US-China trade deals made investors wait on whether new tariffs on Chinese goods will be placed. Brent futures LCOcl slid 0.7%, or 44 cents, priced at $63.90 per barrel by 0342 GMT. US West […]

U.S. reportedly planning to delay China tariffs The Wall Street Journal reported on Tuesday that the U.S. was planning to delay its imposing of 15% tariffs (about $160 billion) in Chinese goods that would take effect on December 15. However, following the reort, White House economic advisor Larry Kudlow said that the December 15 tariffs […]