Economic news

Oil prices extended their overnight rally on Friday, with Brent breaching its $50 record for the first time in nine months. This followed after coronavirus vaccine rollouts brought hopes that 2021 will witness an upbeat demand for crude. Brent advanced 11 cents to trade 0.2% higher by 0427 GMT. Currently quoted at $50.36 per barrel, […]

Asian share markets recovered on Friday as breakthroughs in the development of coronavirus vaccines bolstered investors’ confidence. However, Brexit negotiations and stimulus talks in the United States restricted gains in riskier assets. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.5% jump, approaching its sixth consecutive week of earnings as Japan’s benchmark index […]

China’s auto sales this year are seen to hit up to 25 million units, an industry body said on Friday. China leads the global auto industry recovery from downfall during the COVID-19 pandemic onslaught. China Association of Automobile Manufacturers’ executive vice-chairman Fu Bingfeng announced during its annual conference in Beijing that the institution expects Chinese […]

The Bank of England announced on Thursday it can resume paying dividends and bonuses, lifting its COVID-19 curb on these payouts imposed earlier this year.  The move is seen as a good sign that the bank is well-capitalized anew, displaying resiliency to any further backlash from the coronavirus pandemic. Earlier in March, the BoE ordered […]

The European Central Bank will introduce a new stimulus package on Thursday to aid the bloc rise up from coronavirus pandemic recession. The stimulus package aims to support the EU’s path to economic recovery until a coronavirus vaccine is released to the public. Though details of the package remain to be completed, the package is […]

Britain secured a free trade agreement deal with Singapore on Thursday, the most recent among its many trade deal bids across the globe as its transition out of the European Union ends on Dec. 31. Liz Truss, Britain’s secretary of state of international trade, signed the deal together with her Singaporean counterpart Chan Chun Sing […]

Japan’s wholesale prices recorded a 2.2% decline in November year-on-year. The drop came to be the sharpest decline in six months, indicating that the coronavirus drag is still in the air and is restraining the economy under deflationary pressure. According to data released by the Bank of Japan, the corporate goods price index (CGPI) came […]

Asian share markets took a breather from their milestone peaks on Thursday. The series of declines could be attributed to investors’ dampened sentiment brought by a sell-off in tech stocks and stimulus concerns in the United States. In addition to this, sterling traders were seen wary over an impasse in Brexit talks. MSCI’s broadest index […]

The US worker productivity rose in the third quarter, outpacing employment gains. Nonfarm productivity, which measures hourly output per worker, surged by 4.6% annualized rate last quarter, the Labor Department reported on Tuesday. Moreover, the minimal descending revision from the 4.9% pace predicted last month preceded a 10.6% growth rate in the second quarter, the […]

In an attempt to boost economic recovery, the Trump administration on Tuesday presented a $916 billion coronavirus relief package. This new proposal came after Majority Leader Mitch McConnell’s proposal for a pared-down was denied by the congressional Democrats. Treasury Secretary Steven Mnuchin said on Twitter he introduced the administration’s $916 billion coronavirus relief plan in […]