Economic news

Hong Kong expects unrest to cost 2 percentage points for GDP growth Hong Kong is expected to record its first budget deficit since 2004 due to unrest within the city. The economy is expected to cost up to 2 percentage points of output growth according to Financial Secretary Paul Chan. The expected deficit for the […]

Yes Bank boosts target capital to $2 billion after receiving pledges from new investors Yes Bank Ltd. boosted its target for a capital raising to $2 billion after commitments from new investors. The company, which is India’s fourth-largest private lender, has been caught in the country’s deepening banking crisis. Yes Bank said at a meeting […]

Disney has just unlocked another Cinderella run courtesy of Frozen 2’s highest-grossing weekend in the entire history of Thanksgiving in the U.S. It posted $123.7 million domestically over the five day holiday weekend. “Frozen 2” edged out previous record-holder “The Hunger Games: Catching Fire,” which recorded $109 million in 2013. A sequel to the 2013 […]

National Australia Bank to set up unit in Paris ahead of Brexit National Australia Bank (NAB) had revealed its plans on Friday to set up a unit in Paris that would offer wholesale banking and investment services to most of Europe. The move by one of Australia’s best lender followed similar decisions by other financial […]

Japan’s October household spending expected to fall after sales tax hike Japan’s October household spending is expected to fall in record pace for about 11/2 years after a hike in sales tax, according to economists’s poll on Friday. Household spending will also likely fall 3.0% which would be its fastest pace of decline since May […]

Oil prices were steady on Friday, with the US Thanksgiving holiday coming. Meanwhile, investors anticipate the OPEC meeting set to be on the first week of December as possibilities of extending the production cut may arise. Brent crude LCOcl dropped 5 cents, at $63.82 a barrel by 0103 GMT. It initially dropped 0.3% on Thursday. […]

SHANGHAI-Hong Kong’s benchmark index plunged down with 2% loss on Friday brought heavily by recent trade dispute headline about US legislation supporting Hong Kong protesters.                 Hang Seng index shed 2% at 26,363.78 points as Hong Kong Enterprises Index inched down with 2.4% loss to 10,309.46. Such inactivity was brought by tensions between the United […]

Peru is set to cut excessive regulation on the $29 billion fund for infrastructure that is aimed at reviving the economy and inducing public investment, according to Peru’s economy ministry. The move is dedicated to speed up the construction on 52 “large-scale, public service-oriented projects, whose completion will reduce the infrastructure gap, as well as […]

South Korea and Japan seem to give each other an early Christmas present as both countries have agreed to hold trade talks in December, the trade ministry of South Korea confirmed on Friday. One of the issues that will be addressed on the slated talks will be about Japan’s tighter rules on the exports of […]

TOKYO-Japanese shares made minimum gains on Friday and were posed to approach its third month of earnings.  In line, investors hoped that the recent US legislation supporting Hong Kong protesters would not prevent US-China trade deal from getting signed. Benchmark Nikkei moved minimally at 23,408. 04 in latter part of the morning trade but set […]