Despite its positive turn against the greenback, the local note traded lower against other major currencies THE ringgit extended its upbeat momentum to open higher against the US dollar today, backed by anticipation that the US Federal Reserve (Fed) would ease its interest rate hikes, said an analyst. At 9am, the local note rose to […]
New York CNN — Tesla’s stock is finishing out its tumultuous year with yet more turbulence: It’s up almost 6% Thursday, but still down more than 10% since last week. And a new cut to its price target from Morgan Stanley isn’t helping. Year-to-date, the stock is down about 70%. Morgan Stanley analysts on Thursday […]
TBS Report 29 December, 2022, 05:25 pm Last modified: 29 December, 2022, 05:39 pm People dine on Ta Hien Street in Hanoi, Vietnam.Photographer: Maika Elan/Bloomberg “> People dine on Ta Hien Street in Hanoi, Vietnam.Photographer: Maika Elan/Bloomberg The economy of Vietnam grew at the fastest pace in Asia in 2022, with an 8.02% growth recorded, […]
It would be a gross understatement to say China is ill-prepared for President Xi Jinping’s recent abrupt abandonment of his zero-COVID policy. With a large part of the population inadequately vaccinated, COVID is spreading like wildfire across the country. More than half the passengers on a China-to-Italy flight this week tested positive. Leaked notes from […]
BUKET TOPAL / iStock.com Since mid-summer — when the U.S. Federal Reserve began raising interest rates to fight inflation — the agency and experts knew it would have to take cautious steps to ease the inflationary economy into a “soft landing.” That is, the goal is to tighten the money supply and reduce inflation without […]
The rupee appreciated 7 paise to close at 82.80 (provisional) against the US dollar on Wednesday, as softening crude oil prices in the global markets boosted the local currency, reported by PTI. According to the traders, the domestic unit witnessed high volatility during the session as a strong American currency overseas and a lacklustre trend […]
Gold prices eased on Wednesday pressured by an uptick in the U.S. dollar, having risen 2% in the previous session following China’s decision to further ease COVID-19 restrictions. * Spot gold was down 0.2% to $1,809.58 per ounce as of 0037 GMT. U.S. gold futures fell 0.3% to $1,818.50. * The dollar index edged up […]
Foreign companies welcomed China’s decision to end quarantines for travelers from abroad as an important step to revive slumping business activity while Japan on Tuesday joined India in announcing restrictions on visitors from the country as infections surge. The ruling Communist Party’s abrupt decision to lift some of the world’s strictest anti-virus controls comes as it tries […]
U.S. Treasury yields climbed on Tuesday as markets reopened after Monday’s Christmas holiday and investors awaited data that could provide fresh clues about the state of the U.S. economy. The yield on the 10-year Treasury note was up by around three basis points as of 06:12 AM ET and was last trading at around 3.7789%. […]
Industrial profits fell 3.6 percent in January-November from a year earlier, government data shows. Profits at China’s industrial firms contracted further in the January-November period when strict COVID-19-related restrictions disrupted factory activity and supply chains as the virus spread through key manufacturing hubs. Industrial profits fell 3.6 percent in January-November from a year earlier to […]
