China defies Trump tariffs, trade surplus soars

Notably, the September surplus with the United States was bigger than China's overall trade surplus of $31.69 billion for the month. Relations between the world's two largest economies soured sharply this year, with US President Donald Trump vowing... More..

by | Published more than a month ago
Northern Irish party threatens to topple Theresa May's United Kingdom government
by | Friday, October 12, 2018

Northern Irish party threatens to topple Theresa May's United Kingdom government

The Northern Irish party that British Prime Minister Theresa May's government relies on for support says it will consider backing a vote of no-confidence if May agrees to European Union checks on goods ...More..

by | Friday, October 12, 2018

China’s trade surplus with United States hits record high of US$34 billion

It was a 22 percent jump from the same month past year. Last month, U.S. President Donald Trump imposed tariffs on almost $200 billion of Chinese imports and then threatened more levies if China retaliated. T...More..

Swiss economy predicted to grow 3% by end of year
by | Friday, October 12, 2018

Swiss economy predicted to grow 3% by end of year

The Breton Woods institution, which said this at the Annual General Meetings of the IMF/World Bank now going in Bali, Indonesia, also revised downwards growth prospects for Nigeria in 2018 from 2.1 per cent to ...More..

Dutch PM 'cautiously optimistic' about progress on Brexit talks
by | Friday, October 12, 2018

Dutch PM 'cautiously optimistic' about progress on Brexit talks

Hard Brexiters are concerned the United Kingdom could remain locked into the backstop arrangements indefinitely, particularly if it proves difficult to conclude a free trade deal. But he said that checks on ani...More..

International Monetary Fund chief Lagarde defends rate hikes after Trump slams ‘crazy’ Fed
by | Friday, October 12, 2018

International Monetary Fund chief Lagarde defends rate hikes after Trump slams ‘crazy’ Fed

That is a good thing. Earlier on Tuesday, White House economist Kevin Hassett said the administration respects the Fed's independence and pointed to Trump's nominees to the central bank as evidence of its non...More..

IMF, Pakistani officials to meet today as govt seeks bailout
by | Thursday, October 11, 2018

IMF, Pakistani officials to meet today as govt seeks bailout

Also notably, the Philippines's inflation will be below the median 3.3-percent forecast inflation among emerging and developing Asia five years from now. He said that without free trade, there would be no hope ...More..

Sudden jump in USA interest rates prompts Wall Street stock plunge
by | Thursday, October 11, 2018

Sudden jump in USA interest rates prompts Wall Street stock plunge

Innes, the Singapore-based head of Head of Trading for Asia Pacific with OANDA, attributed the slide to a combination of factors, including the possibility further interest rate hikes and the battle over tariff...More..

by | Thursday, October 11, 2018

Trump Takes Swipe at Fed as Stocks Tumble

I think the Fed has gone insane", Trump told reporters as he arrived for a campaign rally ahead of the USA mid-term elections. "I think the Fed has gone insane", Trump said. The markets have been on a histori...More..

Wall Street tumbles as investors take the knife to tech companies
by | Thursday, October 11, 2018

Wall Street tumbles as investors take the knife to tech companies

United States stocks have plunged to their worst loss in eight months. At 2:40pm local time, the Dow was down 510.76 points, or 1.93 per cent, at 25,919.51, the S&P 500 was down 55.64 points, or 1.93 per c...More..

by | Thursday, October 11, 2018

Trump Blames "Crazy" Federal Reserve As Wall Street Suffers Ugly Losses

I think the Fed has gone insane", Mr. Trump told reporters after landing in Erie, Pa., for a political rally. After a long stretch of relative calm, the stock market has suffered sharp losses over the last we...More..

International Monetary Fund lowers South Africa’s economic growth forecasts, urges reforms
by | Thursday, October 11, 2018

International Monetary Fund lowers South Africa’s economic growth forecasts, urges reforms

Among emerging market and developing economies, the growth prospects of many energy exporters have been lifted by higher oil prices, but growth was revised down for Argentina, Brazil, Iran, and Turkey. It said ...More..

by | Thursday, October 11, 2018

Dow falls 832 points in third-worst day ever

The S&P 500 ITI fell by 4.8 percent as a whole and much of that is attributable to the heavyweight stocks that fell today. The benchmark US stock index hadn't suffered a five-day losing streak since November ...More..

by | Thursday, October 11, 2018

Stocks have their worst day in months; Dow drops 800-plus points

The retreat on Wall Street was led by technology stocks, which dropped 2.55 per cent, and the trade-sensitive industrial stocks that fell 2 per cent. Higher bond rates can weigh on stocks as they provide more...More..

Google’s new Pixel Stand charger is quietly brilliant
by | Thursday, October 11, 2018

Google’s new Pixel Stand charger is quietly brilliant

Google's October gig saw the tech major unveil the much-anticipated Pixel 3 and Pixel 3 XL , along with a few other products , at its " Made by Google " hardware event in NY on Tuesday. "Some of the stuff the...More..

Sears prepares to file for bankruptcy as early as Friday, sources say
by | Wednesday, October 10, 2018

Sears prepares to file for bankruptcy as early as Friday, sources say

The bankruptcy filing would end a standoff between Chief Executive Officer Eddie Lampert, the retailer's biggest shareholder and lender, and a special board committee the company has formed to consider a rescue...More..

Two PSUs place orders for Iranian crude
by | Wednesday, October 10, 2018

Two PSUs place orders for Iranian crude

Secretary of State Mike Pompeo said on a visit to India in September that some waivers from the sanctions might be granted to countries buying Iranian oil, but only if they agreed to cut their imports to zero. ...More..

International Monetary Fund predicts India will grow at 7.3% in 2018-’19
by | Wednesday, October 10, 2018

International Monetary Fund predicts India will grow at 7.3% in 2018-’19

The latest IMF "World Economic Outlook" report released at the IMF-World Bank Annual Meetings in Bali on Tuesday hints at possible further negative shocks to growth prospects. The IMF also cut its outlook for...More..

China-US trade war: Beijing moves to cushion economy
by | Wednesday, October 10, 2018

China-US trade war: Beijing moves to cushion economy

Spot yuan was on track for its lowest close in seven weeks against the United States dollar, as expectations of more easing measures by China , plus surging U.S. China's IT sector fell sharply on Monday, tu...More..

International Monetary Fund forecasts 7.1% economic growth for 2019
by | Wednesday, October 10, 2018

International Monetary Fund forecasts 7.1% economic growth for 2019

That could result in higher-than-expected interest rates from the Federal Reserve and stock market uncertainty. "Nonetheless, despite trade tensions and continued monetary policy normalisation in a few ad...More..

India may continue with Iranian oil imports post sanctions
by | Wednesday, October 10, 2018

India may continue with Iranian oil imports post sanctions

The Islamic Republic exported 1.1 million barrels per day (bpd) of crude in that seven-day period, Refinitiv Eikon data showed. An industry source also said October shipments were so far below 1 million bpd. We...More..

A Nobel Economics Prize for the Long Run
by | Tuesday, October 09, 2018

A Nobel Economics Prize for the Long Run

Models built by Nordhaus and Romer has helped integrate climate change and technological innovation into macroeconomic analysis, the Royal Swedish Academy of Sciences said. "I've been working on that for ne...More..

Oil prices steady after Iranian exports fall further
by | Tuesday, October 09, 2018

Oil prices steady after Iranian exports fall further

The Trump administration reimposed an initial tranche of economic sanctions on Iran in August, and will implement a second tranche in November. Iran may indeed have not cut production yet to match the rate ...More..

The largest fish market in the world closed to build a Parking
by | Tuesday, October 09, 2018

The largest fish market in the world closed to build a Parking

Traders will sell their last wares at Tsukiji's inner market on October 6, shutting up shop after one final tuna auction. This summer, a heatwave virtually overwhelmed the market's outdated air conditioning, ...More..

Sales plunge forces Jaguar Land Rover to shut factory for two weeks
by | Tuesday, October 09, 2018

Sales plunge forces Jaguar Land Rover to shut factory for two weeks

JLR sold 57,114 cars in September, a 12.3 per cent year on year drop, with the firm shipping nearly 20 per cent fewer Land Rovers than September 2017. It took the decision after reporting a 46% slide in sales t...More..

International Monetary Fund downgrades outlook for world economy to 3.7% growth
by | Tuesday, October 09, 2018

International Monetary Fund downgrades outlook for world economy to 3.7% growth

The report comes on the eve of the October 12-14 meetings in Bali of the International Monetary Fund and its sister lending organisation, the World Bank . "But there is no denying that the susceptibility to la...More..

India Will Buy Oil From Iran In November, Says Petroleum Minister
by | Tuesday, October 09, 2018

India Will Buy Oil From Iran In November, Says Petroleum Minister

Last week, Saudi Arabia, the biggest producer among the Organization of the Petroleum Exporting Countries (OPEC), announced plans to lift crude output next month to 10.7 million bpd, a record. "We were trying t...More..

DHS: No Reason to Doubt Firms’ Denials of China Hack
by | Monday, October 08, 2018

DHS: No Reason to Doubt Firms’ Denials of China Hack

Apple Vice President for Information Security George Stathakopoulos wrote in a letter to the Senate and House commerce committees that the company had repeatedly investigated and found no evidence for the main ...More..

USA reconsiders 'zero tolerance' policy on Iran oil imports
by | Monday, October 08, 2018

USA reconsiders 'zero tolerance' policy on Iran oil imports

However, the Trump administration this weekend announced it is considering waivers on sanctions for countries that are merely reducing their imports of Iranian oil. "A source said: "It is still early to say h...More..

Petrol, Diesel prices rise in metros despite cuts; Check todays rate
by | Monday, October 08, 2018

Petrol, Diesel prices rise in metros despite cuts; Check todays rate

Recently, the BJP government announced a Rs 2.50 per litre reduction in prices of petrol and diesel . "Kindly bring petrol and diesel under the purview of GST", he tweeted in Hindi. This happened due to the Rs...More..