Chinese Foreign Ministry spokeswoman Hua Chunying said in a daily press briefing that Beijing will respond “by lawful means” to the new restrictions imposed by the United States on Chinese diplomats. Washington said it would require senior Chinese diplomats to obtain approval from the Foreign Ministry before visiting any university …
Read More »European Shares Open Higher Ahead of Services Sector Data
European stocks rose on Thursday, September 3rd amid signs of global economic recovery and hopes for further stimulus measures, with all eyes focused on domestic services sector data likely to show continued growth. The European Stoxx600 index rose 0.8% in early trade, tracking a strong session in Asia after a …
Read More »Japan’s Nikkei Index Reaches Highest Level in 30 Years
The Nikkei benchmark hit a six-month high Thursday, September 3 and its strongest in three decades in dollar terms, as hopes for more domestic and global economic stimulus boosted sentiment. The Nikkei Index rose 0.94% to 23,465.53 points, its highest closing level since February 21. In dollar terms, this index …
Read More »US May Witness Largest Fiscal Deficit Since World War II
A report issued by the Congressional Budget Office predicts that the US federal government budget deficit will reach 16% of GDP during 2020, the largest in the United States since the end of World War II in 1945. The bureau said the US public debt rate will exceed 100% of …
Read More »Japan’s Services PMI Fell to 45 in August
Japanese service activity contracted at a rapid pace last month, dropping the service purchasing managers’ index to 45.0 in August from 45.4 in July. The Japanese service activity was affected by the uncertainty and weak demand surrounding the business sector due to the Corona pandemic.
Read More »US Extends Some Tariff Exemptions to China
The Trump administration’s threat of escalation against China came this time in disguise with seemingly positive news. The office of the US Trade Representative announced the extension of the deadlines for some exemptions from customs duties on a large group of Chinese goods. But this extension is until the end …
Read More »Germany Revises Upward 2020 GDP Forecast to -5.8%
The worst is over for Germany … and the government response helped it recover faster than expected from the shock of the Coronavirus … statements made by Economy Minister Peter Altmaier while presenting the updated forecasts for his country’s economy in 2020. Altmire said that the recession in the first …
Read More »Russia’s Novak: Will Propose OPEC+ React to Recovery in Global Oil Demand
Russian Energy Minister Alexander Novak said that global oil demand has recovered by a large rate, up to 90% from pre-pandemic levels, adding that Moscow will propose to the OPEC+ group to take a response to this trend within the framework of the global agreement to reduce oil production. Novak …
Read More »Private Payrolls Grow by 428,000
Employment in the US’ private sector rose by 428,000 in August below the market expectation of 950,000, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday. Big business dominated job creation, as firms with more than 500 employees added 298,000 workers. Medium-sized businesses were …
Read More »GDP to Drop Over 8% in 2020-Gualtieri
Italian Economy Minister Roberto Gualtieri said that the country’s GDP will shrink by slightly more than 8%, stressing that production in Q3 will record a “strong recovery.” The Office for National Statistics said last week that the economy witnessed a record contraction of 12.8% in Q2 compared to the previous …
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