Economic news

Business confidence in New Zealand declined in the third quarter. The drop was attributed to the country’s latest COVID-19 lockdowns’ blow on sentiment. The New Zealand Institute of Economic Research’s (NZIER) quarterly survey of business opinion (QSBO) highlighted a net 11% of firms surveyed expecting general business conditions to worsen. It followed a net 7.0% […]

Australia’s trade surplus recorded a surprising record-high growth in August. This came as an increase in liquefied natural gas and coal exports greatly compensated for a drop in iron ore prices, providing a boost to mining earnings and tax collections. Surplus on international trade climbed to A$15.1 billion ($11.0 billion) in August, data from the […]

The dollar recovered on Tuesday morning in Asia, but placed below a one-year high. Investors now brace for the latest United States’ jobs report for hints on the timeline of the Federal Reserve’s asset tapering and interest rate hikes. The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.17% higher to 93.942 by […]

The lack of particulars on the widely-anticipated “top-to-bottom” policy review had espoused complaints across U.S. industries and experts. U.S. Trade Representative, Katherine Tai had kept the details under wraps for the past 8 months, instigating speculations of what the report may contain. Having been unveiled on Monday, the policy review had been found wanting, with […]

New economy minister Daishiro Yamagiwa reassured on Tuesday that the Japanese government will take all necessary measures to support the country’s economy, which has been hit hard by the COVID-19 pandemic. Yamagiwa, one of the new members of newly elected Prime Minister Fumio Kishida’s cabinet, told reporters during his first news conference that he is […]

Gold edged lower on Tuesday in Asia amid a recovering dollar and lingering inflation concerns that lifted the safe-haven asset to an over one-week high in the last session. Gold futures shed 0.42% to $1,760.10 by 11:50 PM ET (3:30 AM GMT), after hitting $1,770.41 on Monday, the futures’ highest since September 23. The dollar, […]

Oil prices went up on Tuesday, reaching their highest level in three years and extending the previous session’s gains after the world’s major oil producers announced that they have decided to put a limit on crude supplies. Brent crude added 0.3%, or 23 cents, at $81.49 per barrel by 0341 GMT, after its 2.5% increase […]

Wall Street saw a broad sell-off of Asian shares seen to weaken for the third session on Tuesday in the midst of worries that oil prices will climb to multi-year highs, effectively adding to inflationary pressures owed to supply chain disruptions. S&P 500 e-minis rose by 0.01%, the pan-region Euro Stoxx 50 futures had gained […]

Investor sentiments were dampened because of apprehensions over increasing debt defaults by Chinese property developers all while in the thick of China Evergrande Group’s plummeting credit rating. And it is not without reason as Evergrande is neck-deep in its $300 billion debt. It had been reported that the company had skipped making coupon payments on […]

The inflation rate in the Philippines jumped to almost 5% in September, an economists’ poll showed. The increase was attributed to high food prices as supply constraints persist and oil prices rise. Of the 17 economists consulted, 13 suggested that inflation would increase between 5% and 5.2%, a level not seen since 2018. Five economists […]