Economic news

The dollar sat near 2 ½-year lows against its peers on Tuesday as safe-haven demand eased amid hopes for a U.S. economic package and a Brexit deal. The dollar neared its weakest level since mid-2018 against the pound and the euro as U.S. lawmakers prepared $1.4 trillion in spending. The pound climbed 0.1% to $1.3332 […]

Oil prices dropped on Tuesday as stricter restrictions in Europe and a forecast for a slower demand recovery next year outweighed upbeat news from vaccine rollouts and worries about rising tensions in the Middle East. U.S. West Texas Intermediate crude futures slid 0.8%, or 36 cents, at $46.63 per barrel. Brent crude futures dropped 0.8%, […]

November had seen China’s industrial output grow in line with forecasts.  The expansion marked the sector’s eighth consecutive month of growth as the country’s economic emergence from the coronavirus drag accelerated and global demand picked up. Industrial output advanced 7.0% in November year-on-year, data from the National Statistics Bureau showed on Tuesday. The figure hit […]

After reaching their milestone peaks recently, Asian share markets recorded a subdued performance on Tuesday. The series of declines followed after investors’ vaccine-driven sentiment was heavily dampened by an upsurge in fresh coronavirus infections and implemented lockdowns. MSCI’S broadest index of Asia-Pacific shares outside Japan recorded a 0.6% drop to 637.8.  The index’s recent record […]

The pound gained against the dollar and euro on hopes that the European Union and Britain will agree on a free trade deal after their decision to extend negotiations.  The dollar sat near a 2 ½-year low against its peers ahead of a U.S. Federal Reserve meeting ending on Wednesday. It stood at 103.995 on […]

Oil prices climbed on Monday with the Brent surpassing the $50 level, lifted by hopes that a COVID-19 vaccine rollout will boost global fuel demand. Still, a tanker blast in Saudi Arabia unnerved the market. Brent oil futures for February delivery gained 0.8%, or 38 cents, at $50.35 per barrel. U.S. West Texas Intermediate oil […]

November had seen China’s new home prices advance at their most gradual pace since March, official data showed on Monday. This could be attributed to policymakers’ decision of implementing market-cooling measures in the highly-leveraged sector to negate financial risks. The country’s average new home price across 70 major cities recorded a 0.1% jump in November, […]

Global share markets were seen upbeat on Monday as investors weighed the possibility of additional fiscal and monetary stimulus in the United States. Moreover, the British pound recovered from low grounds on post-Brexit trade. After reaching a series of milestone peaks last week, MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.1%. Japan’s benchmark […]

Repo transactions with supervised non-bank credit providers would be available to small businesses badly hit by the coronavirus crisis to boost credit supply, the Bank of Israel announced on Sunday. The non-credit bank offer would be introduced in the first week of January, according to the bank. The new monetary scheme aims to increase credit […]

In an effort to circumvent a chaotic Brexit on Dec.31, leaders of Britain and the European Union concurred on Sunday to continue trade talks past its set Sunday deadline to reach an elusive free trade deal. EU Commissioner Ursula von der Leyen and British Prime Minister Boris Johnson ordered their negotiators on Sunday to continue […]