While flashing another red signal concerning the US-China trade relations, the South China Morning Post (SCMP) quotes US government notice while saying that goods made in Hong Kong for export to the United States will have to be labeled “Made in China” after September 25. It said that 45 days …
Read More »Japan Current Account Surplus Narrows to 5-Year Low
Japan’s current account surplus narrowed to the lowest level in five years in June as exports took a hit due to the Covid-19 on global demand. The current account surplus was JPY 167.5 billion ($1.58 billion), the smallest monthly surplus since January 2015, a finance ministry official said on Tuesday, according …
Read More »PBOC Sets Yuan Reference Rate at 6.9711
The People’s Bank of China (PBOC) has set the yuan reference rate at 6.9711 versus Monday’s fix at 6.9649.
Read More »WH Adviser O’Brien: US is ‘deeply troubled’ by arrest of Jimmy Lai
White House (WH) National Security Adviser O’Brien said in a statement early Tuesday, the US is ‘deeply troubled’ by the arrest of Hong Kong media tycoon Jimmy Lai. His comments come after the geopolitical tensions intensified between the US and China after the police in Hong Kong arrested Jimmy Lai, …
Read More »UK unemployment rate beats with 3.9% in June
The UK has reported mixed labor figures. The unemployment rate remained depressed at 3.9% in June, a result of the government’s furlough schemes. Wages dropped by 1.2% when including bonuses and -0.2% when excluding them. The Claimant Count Change for July disappointed by leaping by 94,400, far worse than 10,000 …
Read More »Unemployment in Turkey Rises to 12.9%
Data showed unemployment in Turkey rose slightly between April and June to 12.9%, compared to 12.8% in the previous month, thanks to a ban on layoffs amid the Corona pandemic. Employment fell by 2.4 million year-on-year in the same period to 25.9 million, in conjunction with the almost complete halt …
Read More »Eurozone Investor Confidence Rose to -13.4
Eurozone Sentix Investor Confidence rose to -13.4 in August, up from -18.3, above the expectation of -15.2. It’s also the fourth increase in a row and highest since February. The current Situation index rose to -41.3, up from -49.5, highest since March. Expectations, however, dropped slightly to 19.3, down from …
Read More »French Economic Activity Down in July
French economic activity in July declined by 7% from its pre-pandemic level, which reflects a slight improvement compared to June, which recorded a decrease of 9%. The construction sector approaches pre-pandemic levels, according to the latest report issued by the French Central Bank. In its monthly business conditions report, the …
Read More »China Annual Inflation Exceeds Expectations
The annual inflation reading in China improved in July above market expectations, as the CPI grew by 2.7% year on year, higher than the expected 2.6%, and also recorded 0.6% on m-o-m in July. At the same time, the producer price index recorded a contraction more than expected, contracting on …
Read More »WHO: Huge shortfall in funds to fight coronavirus
There is a huge gap between funds needed to fight the coronavirus and funds committed worldwide, World Health Organization chief Tedros Adhanom Ghebreyesus said on Monday. According to Reuters. But he said he saw “green shoots of hope”. “It is never too late to turn the pandemic around,” Tedros told …
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