Economic news

Amid the ongoing trade deal between China and the U.S., Chinese trade officials expect the U.S. to defer tariff hike slated on Dec. 15. According to sources privy to the on-going talks, the two sides are getting closer to secure an agreement of lowering the tariffs already in place. But instead of lifting the existing […]

HSBC Swiss unit to pay $192 million to resolve latest U.S. tax evasion deal The Swiss private banking unit of HSBC Holdings Plc will pay $192.4 million to resolve a U.S. probe of its role in helping wealthy Americans evade taxes through undeclared Swiss bank accounts, according to the U.S. Department of Justice (DoJ). The […]

Japan is set to cut its tax revenue forecast on the current fiscal year for over 2 trillion yen ($18.41 billion) due to a decline in exports caused by the US-China trade war, a government source said. To compensate the deficit, the Japanese government will release more deficit-covering bonds of almost 2 trillion yen from […]

In the charts of late, Gold is seen trading in a sideways manner. The precious metal’s value is around $1,461 per Oz in Asia. The trendlines connecting Nov. 12 and Nov. 26 lows and Nov. 20 and Dec. 4 highs attest to the reading. Should there be a confirmation of a channel breakdown, a resumption […]

Around 1.3150, the GBP/USD stands mildly bid. This is ahead of the London open. April saw its surge, but with the Conservatives in the lead for the upcoming December elections, the upside was capped. This had led analysts to look hard into U.K. growth and industrial figures. In the figures, it is apparent that the […]

Westpac Banking Corp refunded A$68 million ($46.14 million) to shareholders who wanted to withdraw their shares on a purchase plan after the bank faced a lawsuit accusing it of laundering millions. Westpac, Australia’s second biggest lender, offered refunds to people who bought new shares under the plan even before the lawsuit was filed. Investors have […]

More developing countries will be hit by debt woes next year, cutting returns for the JPMorgan index of dollar sovereign bonds, according to the bank’s head of emerging markets research. Countries affected by debt crises in 2019 include Lebanon, Argentina, and Venezuela. However, their relatively small part in global bond indexes has meant little contagion […]

TOKYO-Japanese shares inched down on Tuesday brought by threats of US tariffs on Chinese imports despite developments and positive commentary from Washington and Beijing’s trade talks. The Nikkei index plummeted down 0.18% to 23,388.92 at exactly 0157 GMT, as industrial and consumer discretionary sectors topped the decliner board. Both Washington and Beijing remained diplomatic as […]

Indonesia’s October retail sales accelerates at fastest pace in five months Growth in Indonesia’s retail sales accelerated to 3.6% in October from a year earlier, the fastest pace in five months which picked up strength from its September growth of 0.7% according to a central bank survey on Tuesday. Growth was mainly driven by increased […]

Asian shares dip as investors anticipate tariff deadline Asian equity markets dipped lowed on Tuesday as investors kept from making major decisions before December 15, when the next round of U.S. tariffs on Chinese imports was due to take effect. A Chinese Commerce Ministry official said on Monday that Beijing hopes to make a trade […]