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Chinese industrial firms report steepest decline in profits in a decade

China’s industrial firms’ profits sank to the lowest in a decade, with mining, manufacturing, and power sectors all suffering from steep declines due to the coronavirus impact. Profits in the first two months of the year fell 38.3% ...
27.03.2020

Reserve Bank of India slashes interest rates in urgent bid to bolster virus-hit economy

The Reserve Bank of India (RBI) decided to cut interest rates unexpectedly on Friday in an emergency move to bolster the nation’s economy affected by the virus outbreak. The RBI’s move joins many other stimulus-boost efforts by ...
27.03.2020

Gold prices fall off 2-week highs amid equities recovery

Gold prices fell from its two-week high perch on Friday in Asia amid a recovery in equities. Gold Futures for April delivery last traded on the Comex exchange at $1,640, dropping by 0.7% by 12:55 AM ET (04:55 GMT). Despite the day’s losses, ...
27.03.2020

Fed balance sheet rises $5 trillion for the first time since financial crisis

The US Federal Reserve’s balance sheet rose up to more than $5 trillion in assets after taking up bonds and extended loans to banks, central banks, and mutual funds in its emergency measure to support the economy amid the coronavirus ...
27.03.2020

Asian shares advance on stimulus optimism, dollar declines

TOKYO- Asian stocks recorded a well-ended performance on Friday as investors anticipated another set of stimulus measures to alleviate the drag brought by the novel coronavirus pandemic. Upbeat market mood followed after US unemployment statistics ...
27.03.2020

Oil advances as markets rejoice on stimulus optimism

TOKYO- Oil prices soared on Friday after global leaders assured fulfilling its promised measure  to inject large volume of funds to minimize the economic drag brought by coronavirus contagion. Upbeat performance followed despite the threat ...
27.03.2020

Oil prices drop as demand declines, markets pin hope on US stimulus

Oil prices slid on Thursday after three days of consecutive gains, despite risks of rapid decline in demand caused by travel cancellations and lockdowns amid the coronavirus pandemic. However, markets pin their hope on the $2 trillion US emergency ...
26.03.2020

U.S. asks Facebook, Walmart, and Amazon to stop over pricing amid pandemic crisis

WASHINGTON - A group of thirty two U.S. states have a message for the world’s leading online platforms: “You are not doing enough to stop unreasonable pricing in the midst of the coronavirus crisis.” In a letter sent on Wednesday ...
26.03.2020

Putin provides a week-long holiday for Russians in social bundle to fight coronavirus

MOSCOW - Russian President Vladimir Putin on Wednesday proposed a wide variety of unconventional emergency social measures to help families and organizations in the midst of the worldwide coronavirus outbreak, such as a week-long holiday for ...
26.03.2020

Worldwide smartphone sales drop 14% in February due to COVID-19 contagion

SHANGHAI- A sharp 14% drop in smartphone sales was monitored last February as the novel coronavirus continues to reach larger scale, according to Counterpoint Research on Thursday. Such may be the start of other market declines as the virus ...
26.03.2020

Singapore prepares for recession as virus-hit economy drops in first quarter

Singapore’s economy contracted by 2.2% in the first quarter from a year earlier according to preliminary data released on Thursday. The decline went at the sharpest pace since the 2009 financial crisis which led the city-state to prepare ...
26.03.2020

Gold prices drop as U.S. congress concludes deal on $2 trillion stimulus package

Gold prices dropped on Thursday in Asian markets following a U.S. congress announcement reaching a deal to roll out a $2 trillion financial stimulus in a bid to bolster an economy heavily impacted by the coronavirus. Gold Futures was unable ...
26.03.2020

Asian markets operate cautiously prior to US stimulus, jobs data

SINGAPORE- Asian share markets started regular sessions in an anxious tone on Thursday after advancing for two consecutive days.  Such performance was observed as investors await for the implementation of the $2 trillion stimulus package ...
26.03.2020

Dollar slips as markets brace for unemployment claims surge

The dollar plunged against the Japanese yen on Thursday before the release of data expected to increase claims for unemployment benefits in the US. Several American firms lay off employees due to the persisting virus outbreak. The pound fell ...
26.03.2020

RBA buys semi-government bonds as coronavirus crushes state revenues

The Australian central bank bought semi-government bonds for the first time since the quantitative easing program launched to counter the pandemic and its impact. The Reserve Bank of Australia purchased A$2 billion ($1.2 billion) in semi-government ...
25.03.2020

$2 trillion fiscal stimulus drives dollar lower

The dollar slid for the third straight day on Wednesday as the US’ proposed fiscal stimulus package eased markets driven by demand for cash.  US senate majority leader Mitch McConnell said that the $2 trillion (1.70 trillion pounds) ...
25.03.2020

Asian shares recover fed supplies funds to ease virus impact

Asian stocks managed to find its momentum on Tuesday as U.S. Federal Reserve’s funding plan temporarily relieved market sentiment from pressing losses in financial markets. However, the said scheme seemed inadequate in addressing the ...
25.03.2020

US Department of Agriculture,Trade Representative declare progress on farm products on U.S.-China trade deal

WASHINGTON - The United States and China have gained progress in achieving the agriculture-related agreements of a Phase 1 trade deal that produced results on February 14, the U.S. Department of Agriculture (USDA) and U.S. Trade Representative ...
25.03.2020

Oil prices rally amid decline in crude supply

Oil prices rally amid decline in crude supply Oil prices maintained gains on Asian markets on Wednesday following the report of the American Petroleum Institute (API) on a decline in U.S. crude supply. International Brent Oil Futures went ...
25.03.2020

Asian shares follow Wall Street gains as U.S. stimulus brings new hopes

Asian shares continued to rally on Wednesday with Wall Street recovering from major losses as U.S. Congress drew near to rolling out a $2 trillion stimulus package in a response to aid a virus-hit economy. MSCI’s broadest index of Pacific ...
25.03.2020
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