The novel coronavirus pandemic threatens the economic growth of Asia and is likely to halt the economy for the first time in six decades. The International Monetary Fund rendered the forecast on Thursday as the global contagion continues to ...
Oil gained on Thursday and U.S. crude recovered from nearing 20-year-lows on hopes that inventories will build up. This could leave oil producers no option but to further production cuts as demand weakened amid the crisis. Brent crude rose ...
The dollar rose against other currencies as investors turned to safety after data revealed a worsening economic activity. The dollar index showed a 0.2% gain, at 99.831. The euro fell 0.25%, at $1.0881 and the pound dropped 0.2%, at $1.2482. ...
Global shares declined on Thursday while bonds and the dollar advanced. Stock markets’ underperformance was mainly from weak U.S. retail sales, inactivity in factory production, and a dire outlook for Asian economy. MSCI’s broadest ...
Gold prices rose in Asian markets on Thursday as investors continued to assess the economic damage caused by the COVID-19 pandemic. Gold futures gained 0.33% to $1,745.70 per ounce at 9:37 PM ET (2:37 AM GMT) as the precious metal attempted ...
Home prices in China resumed its growth after stalling in February due to the pandemic. The resurgence implies pent-up demand as the effects of the outbreak steadily eased on property markets. China has recently lifted curfews and lockdowns ...
The U.S. opposition wanted to stop the International Monetary Fund from using its strong tools to support other countries in fighting coronavirus on Wednesday. IMF proposed to create a new portion of Special Drawing Rights. The national bank ...
Japan’s Prime Minister Shinzo Abe faces financial pressure from his political partners on Wednesday. The prime minister was expected to disburse more cash to people to lessen financial crisis amid the virus outbreak. The government will ...
The dollar rose against Asian currencies on Wednesday after the U.S. Federal Reserve announced a new lending program. However, the dollar faced strong headwinds following the release of U.S. retail sales and industry data which revealed the ...
Gold prices fell on Wednesday in Asian markets as its virus-led volatility drove investor risk sentiment towards other assets. The International Monetary Fund (IMF) stated that the pandemic may lead the global economy to decline by 3% this ...
Asian shares recuperated on Wednesday amid an impending worst global recession in seven decades highlighted a severely hurt economy while some countries attempted to resume businesses. The interest rate reduction prompted MSCI’s broadest ...
Oil prices were up on Wednesday as investors went on a bargain spree after the last session’s decline and on hopes that countries will fill their strategic reserves. However, threats of a global recession and oversupply prevented further ...
South Korea’s crude imports in March dropped 2.1% year-on-year, dragged down by weak demand amid the coronavirus pandemic. The world’s fifth-largest crude importer purchased 11.30 million tonnes of crude oil in March, equivalent ...
U.S. President Donald Trump on Tuesday reduced the World Health Organization’s funds allocated to the novel coronavirus pandemic. Trump's decision drew criticism from experts as the global death rate continued to increase. Trump’s ...
Gold prices carried gains well from the previous session and regained its status as a safe-haven commodity as the COVID-19 pandemic continues to disrupt global economy. Gold Futures reached record levels on Monday and rose by 0.35% to $1,797.6 ...
Oil prices rose on Tuesday after an OPEC+ meeting settled on a record 9.7 million barrel output cut last Sunday. International Brent Oil futures gained 1.13% to $32.27 per barrel at 9:48 Pm ET (2:48 AM GMT) while the Oil WTI futures rose by ...
Exxon Mobil Corp (XOM) raised new debt of $9.5 billion on Monday. The company paid a lower price to borrow from debt markets as energy prices collapsed amid virus outbreak. Other highly-rated U.S. companies have also been tapping debt markets ...
EBay Inc. named Jamie Iannone as its new Chief Executive Officer on Monday. The appointment had been made a month after Starboard Value, owner of more than 1% of eBay’s stock, disclosed plans of designating four directors on eBay’s ...
Asian stocks slightly gained on Tuesday after China’s trade data revealed a better-than-expected result. The upbeat performance could also be attributed from various countries’ decision of reopening their economy by easing some ...
U.S. President Donald Trump said on Monday that the U.S. economy may begin reoperating soon as his administration heads towards a concrete plan. The economy was shut after restrictions were implemented to combat the further spread of the novel ...