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 […]
While a global downdraft has affected nearly all segments of the market, emerging markets have been particularly impacted by a strong U.S. dollar. Thus, emerging markets rallied in mid-December as the U.S. dollar weakened against other major currencies amid growing concerns of the U.S. economy seeing a recession, coupled with optimism around China’s lessened COVID-19 […]
King Dollar is facing a revolt. Tired of a too-strong and newly weaponised greenback, some of the world’s biggest economies are exploring ways to circumvent the US currency. Smaller nations, including at least a dozen in Asia, are also experimenting with de-dollarisation. And corporates around the world are selling an unprecedented portion of their debt […]
By Philip Aldrick The world faces a recession in 2023 higher borrowing costs aimed at tackling inflation cause a number of economies to contract, according to the Centre for Economics and Business Research. The global economy surpassed $100 trillion for the first time in 2022 but will stall in 2023 as policy makers continue their fight […]
