Economic news

The European Central Bank is poised to utilize all the necessary tools to stimulate inflation, and is closely monitoring euro’s appreciation, Governing Council member Olli Rehn said in a statement. The ECB introduced additional fiscal stimulus to its pandemic stimulus package in December. Despite President Christine Lagarde reassuring that the bloc’s recovery is on track, […]

In an attempt to shift from gasoline and diesel engines to being carbon neutral, the U.S.’ largest automaker, General Motors, announced on Thursday its goal of selling all its new cars, SUVs, and light pickup trucks with zero tailpipe emissions by 2035. Just several days after President Joe Biden stepped into the White House vowing […]

The dollar rose on Friday, on course for a weekly gain, as lingering tension from a coordinated assault on a U.S. hedge fund short positions lifted demand for safe havens. The dollar benefited from safety buying since the beginning of the week when investors feared that Biden’s U.S. stimulus plan will not be as big […]

Oil prices steadied on Friday, stuck in ranges for the past three weeks, as traders looked for hints of shifting demand and supply fundamentals. A decrease in Saudi’s oil supply and lower U.S. crude inventories offset price pressures from fuel demand.  Brent crude futures for March delivery gained 0.1%, or 4 cents, at $55.57 per […]

December had seen Japan’s industrial output plunge deeper, indicating that the country’s emergence from the coronavirus drag is dwindling. This was mainly from factories’ worsening demand as different countries implemented tighter coronavirus measures. The country’s factory output recorded a 1.6% contraction in December. This followed after a strong performance in inorganic and organic chemicals manufacturing […]

Asian share markets made a strong rebound on Friday. However, they are still on course for their biggest decline in months as a liquidity squeeze in China and Wall Street’s short selling dampened investors’ sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.9% increase. While the index jumped, it is still heading […]

Apple Inc posted better-than-expected holiday quarter sales and profits on Wednesday. The strong earnings came mainly from a surge in sales as its new 5G iPhones tallied a 57% increase in China and pushed the company’s handset revenue to a new record. For the quarter ended Dec. 26, the company’s revenue soared 21% to $111.44 […]

Asian share markets were seen subdued on Thursday. Meanwhile, the dollar advanced as investors withdrew from shares due to a sudden selloff on Wall Street and a series of roadblocks that restricted coronavirus vaccines from rolling out. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 1.8% decline. The downbeat performance had resulted in […]

The dollar extended gains against its peers on Thursday as a stock market rout raised worries about excessive valuations boosted by a safe-haven bid for the dollar. The dollar rose to 104.27 against the yen following a 0.4% gain on Wednesday. Against the euro, the greenback traded at $1.2094, nearing a one-week high.  The pound […]

Oil prices fell in early Asian trade on Thursday despite a big drop in U.S. crude inventories, as the dollar’s strength and renewed fuel demand worries weighed on prices. U.S. West Texas Intermediate crude futures slid 0.62%, or 33 cents, at $52.52 per barrel, losing gains made on Wednesday. Brent crude futures was down 0.65%, […]