Japanese stocks closed higher, deriving direction from the gains of their Asian counterparts, but growing speculation over Prime Minister Shinzo Abe’s health dented the mood. The benchmark Nikkei index rose 0.28 percent to close at 22,985.51 points, while the broader Topix index rose 0.19 percent to 1,607.13 points. Trading volumes …
Read More »Oil Rises as Two Storms Approach Gulf of Mexico
Crude oil prices rose on Monday as two storms approached the Gulf of Mexico, cutting more than half of oil production there, and amid optimism about the Coronavirus, after the US Food and Drug Administration allowed the use of blood plasma from recovered patients as a treatment option. Brent futures …
Read More »Trump Adviser Kellyanne Conway to Resign
Kellyanne Conway, a senior adviser to President Trump, will leave the White house at the end of the month. Conway, whose title is counselor to the president, has resigned citing the need to focus on her family, according to The Washinton Post.
Read More »Coronavirus Update
The latest coronavirus (COVID-19) updates from China have been upbeat as all 16 cases on August 23 reported as imported infections. “This compared with 12 new COVID-19 cases reported a day earlier, all imported too and marked the eighth consecutive day of no locally transmitted cases. The total number of …
Read More »PBOC Sets Yuan Reference Rate at 6.9194
The People’s Bank of China (PBOC) has set the yuan reference rate at 6.9194 versus Friday’s fix at 6.9107.
Read More »New Zealand Has Extended Lockdown Till Aug 30
New Zealand’s Prime Minister Jacinda Ardern has extended the coronavirus lockdown till Aug. 30. While the city of Auckland is under alert level 3 restrictions, the rest of New Zealand remains at level 2, Ardern said, while adding that Auckland will move to level 2 after Aug. 30. New Zealand …
Read More »US: Markit Manufacturing PMI Improves to 53.6
The business activity in the US manufacturing sector is seen expanding at a robust pace in August with the IHS Markit’s advanced Manufacturing PMI rising from 50.9 in July to 53.6. This reading came in better than the market expectation of 51.9. Further details of the publication revealed that the …
Read More »Oil Prices Rising as Producers Talk About Efforts to Cut Supplies
Oil prices rose, and is on the path of achieving gains for the third week in a row, as it was strengthened by the efforts of major crude producers to cut production in light of concerns about the economic recovery from the Coronavirus pandemic. US West Texas Intermediate crude futures …
Read More »British Public Debt Exceeds 2 Trillion Pounds For The First Time
Britain’s public debt exceeded 2 trillion pounds ($ 2.65 trillion) for the first time, underscoring the challenge facing Finance Minister Rishi Sunak, who is under pressure to provide more emergency support for the economy ravaged by the coronavirus pandemic. Net debt in July, which excludes public banks, rose to £ …
Read More »The Chinese President: We Will Strengthen Efforts to Make Progress in Major Technological Fields
China State TV reported that President Xi Jinping said his country would strengthen its efforts to make progress in key technological fields. China Central Television reported that Xi said during an inspection tour of the flood-hit Anhui province that the authorities would implement more support measures to help companies, stabilize …
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