Economic news

The economy of Singapore declined milder than what was initially estimated in the third quarter. The revised reading came after the city-state gradually lifted some of its coronavirus-driven restrictions, with authorities expecting an economic rebound in 2021. Gross domestic product recorded a 5.8% drop year-on-year in the third quarter, the ministry of trade and industry […]

Asian shares recorded an upbeat session on Monday, with a broad regional index hitting a milestone peak brought by a breakthrough in the development of coronavirus vaccine. However, the reimplementation of virus-related lockdowns and uncertainty over U.S. stimulus restricted gains. MSCI’s broadest index of Asia-Pacific shares outside Japan had seen a 0.56% increase, surpassing its […]

Australia’s corporate regulator is doing an investigation at the country’s stock exchange on an outage that happened last week. The outage disrupted trading systems and almost eliminated an entire session, according to bourse operator ASX Ltd on Monday. The software problem stopped trade just 20 minutes into the session. The issue raised worries about the […]

New office space construction operations in central London tumbled by 50% in six months ended September, citing COVID-19 drawbacks as a stumbling block for developers from continuing construction operations. This data was shown in a Deloitte survey published on Monday. Deloitte Real Estate’s London Office Crane Survey reported a 2.6 million square feet plunge in […]

Oil prices rose on Monday as investors were optimistic about improving crude demand amid successful coronavirus vaccine trial results. However, gains were capped by renewed lockdowns in many countries.  Adding to the sentiment boost was OPEC and its allies’ decision to keep crude output in check. Brent crude futures gained 0.4%, or 17 cents, at […]

Atlanta Federal Reserve Bank President Raphael Bostic said on Thursday that keeping the Fed’s emergency lending and backstop programs would be “prudent” to stabilize the financial markets and the broader economy.   In an interview with Bloomberg TV, Bostic said that he was slightly surprised that the Treasury decided to end some of the programs […]

U.S. oil prices dropped on Friday, falling for a second day as worries that rising coronavirus infections and new lockdowns will hit demand. Still, prices were supported by signs that Washington is working on a stimulus deal. U.S. West Texas Intermediate fell 0.2%m or 9 cents, at $41.65 per barrel. Brent crude is yet to […]

The dollar steadied on Friday after U.S. Treasury Secretary Steven Mnuchin called an end to some of the Federal Reserve’s lending amid the pandemic. Mnuchin’s statement derailed a risk rally and rattled investors leaning on central bank support. The dollar index traded at 92.306, a little below Tuesday’s high of $1.18935. It is up 0.3% […]

Tesla had recorded another day of gains on Thursday. Its shares had extended their rally just before it debuts in the S&P 500 index in December. In addition to this, the automobile manufacturer’s market value was seen nearing $500 billion, indicating the growing domination of mega-cap growth stocks within Wall Street’s most-watched index. The California-based […]