Economic news

Oil prices dropped for a second straight day on Friday after OPEC slashed its demand forecast and the International Energy Agency said the market is oversupplied.  Brent crude fell 0.8%, or 47 cents, at $60.67 per barrel after losing 0.5% in the last session. U.S. oil dropped 0.9%, or 53 cents, at $57.71 per barrel […]

The dollar hovered near two-week lows in the holiday-thinned Asian session on Thursday after soft U.S. inflation and the Fed’s promise to keep rates low.  The Aussie sat below a two-week high hit overnight, while the euro stood at $1.2119, near its highest since Feb. 1. The pound rose to a near three-year high of […]

Oil prices dropped on Thursday, losing some of the recent gains on profit-taking and speculation that the market’s strength could lead Saudi Arabia to cancel more production cuts. Brent crude slid 0.7%, or 40 cents, at $61.07 per barrel after hitting its highest level since January 2020 on Wednesday. U.S. crude dropped 0.6%, or 35 […]

Following a stronger-than-expected 4th quarter sales performance, COVID-19 vaccine developer AstraZeneca released its sales growth forecast for 2021 on Thursday. The British drug producer expects a “faster growth” in its core earnings. AstraZeneca, a London-listed company, projected a $4.75 to $5.00 per share growth in its 2021 shares. Its low teens percentage forecasts came after […]

Solid corporate earnings and hopes for a big U.S. stimulus package weighed on markets, pushing global equity funds to secure their largest inflows in the week ended Feb. 10. The past week ended Wednesday, a total of $43.1 billion in equity funds, the largest inflow since mid-March 2019, was purchased by investors. The data was […]

The expansion seen in Britain’s housing market receded sharply in January. This followed after the country reimplemented virus-related measures, and a soon-to-expire tax break for buyers dragged the market, a survey showed on Thursday. House price growth lost its momentum, placing lower than what was expected in a Reuters survey. More so, prices in London […]

Asian share markets remained at highs on Thursday. This came after investors’ sentiment was heavily affected by an increase seen recently, with the prospect of a stimulus package supporting the session after the Federal Reserve went dovish for its outlook, and inflation in the United States rendered a positive reading. MSCI’s broadest index of Asia-Pacific […]

The dollar stood near two-week lows as safe demand dropped on Wednesday, with investors expecting a pandemic recovery this year, boosted by massive fiscal and monetary stimulus aids. The dollar index rose to 90.509 in Asian trade on Wednesday, following a two-day fall that pulled it to as low as 90.427. Traditionally a safe haven, […]

Oil prices climbed again on Wednesday, extending a more than week-long rally after a drop in U.S. crude oil inventories fueled optimism about fuel demand recovery. Brent crude rose 0.2%, or 11 cents, at $61.20 per barrel following a 1% gain on Tuesday. U.S. crude gained 2 cents to $58.28 per barrel.  U.S. crude stockpile […]

Unfazed by the global chip shortage, Toyota Motor Corp raised its full-year earnings to 54% on Wednesday, claiming it has an up to four-month stockpile of chips. Toyota Motor fearlessly increased its sales forecast for the fiscal year ending in March despite rival Japanese automakers including Nissan Motor Co Ltd and Honda Motor Co Ltd […]