Saudi sovereign fund invests $4.7bn in ETFs on Q2, slashes blue-chip stakes

19-08-2020
A regulatory filing with US SEC had revealed on Friday that the Saudi sovereign fund had slashed a number of blue-chip stocks including those of Bank of America and Citigroup

India to invest $1.46 trillion in infrastructures to lift pandemic-hit economy

18-08-2020
On Saturday, Indian PM Narendra Modi had announced a $1.46 trillion stimulus in infrastructure projects in a bid to pull the Indian economy out of a pandemic-led fiscal drawdown

Trump looks to press other Chinese companies after ByteDance including Alibaba

18-08-2020
US President Donald Trump said on Saturday that he was looking to pressurize other Chinese companies to leave US market including e-commerce mogul Alibaba

Japan suffers worst economic plunge in 40 years, wipes out Abe-era gains

17-08-2020
On Monday, Govt. data had revealed that the Japanese economy had witnessed its worst economic downturn in record over Q2, 2020

US industrial production up 3%; factory output rises 3.4%

17-08-2020
In what could be contemplated as a sign that the US economy has been regaining momentum, US Fed said in a statement on Friday that US Industrial production had been picked up 3 per cent last month

Oil prices plunged on demand worries, supply gut but post weekly gain

16-08-2020
Both Brent and US crude had ebbed off on Friday's commodity market closure, however had logged weekly percentage gains

US retail sales rise for third straight month but obstacles mount

16-08-2020
US Commerce Department said on Friday that the US retail sales in July had picked up by 1.2 per cent following an 8.4 per cent uptick a month earlier

UK records steepest recession among top economies

15-08-2020
Earlier this week, Government data had revealed that the UK economy had contracted by 20.4 per cent over the pandemic-stabbed second-quarter of the year

China auto sales rise in July as market regains momentum

14-08-2020
Earlier on Tuesday, data released from a Chinese industry body CAAM had revealed that the China auto sales had clocked a gain of 16.4 per cent last month

US producer prices jump 0.6% in July, biggest leap since 2018

13-08-2020
US Labour Department had revealed in a statement on Tuesday that the US PPI (Producer Prices Index) had reported an unprecedented jump of 0.6 per cent last month

Harbour explosion hits the “Achilles heel” of Lebanese economy

12-08-2020
Lebanese Govt. officials said on Sunday that the country might see a contraction between 20% to 25% following Tuesday's Beirut explosion that had destroyed the main port of Lebanon

Trump signs pandemic relief bypassing lawmakers as Congress talks break down

10-08-2020
The US President Donald Trump had signed off an executive order that in effect would deliver $400 per week in additional unemployment benefits

Canada to impose retaliatory tariff on US aluminium, hopes swift resolution

10-08-2020
Speaking with the reporters late on Friday, Canadian Deputy Prime Minister Chrystia Freeland said that Canada would incline retaliatory tariff on $2.7 billion worth of US aluminuim products

Oil falls 2% on demand concerns but posts weekly percentage gains

09-08-2020
Both Brent and US WTI crude had faltered nearly 2 per cent on Friday as a growing uproar over a second round of pandemic relief bill in the Capitol Hill has been pouring cold waters over investors' morale

Bank of England says economy will take time to heal, sees 23% contraction

09-08-2020
Bank of England said in a report later this week that the UK economy had been well-placed to post a contraction of 23% over the current quarter

US economy adds 1.8 million jobs in July as hiring weakens

09-08-2020
US Labour Department said on Friday that the US economy had added 1.8 million jobs last month, sharply down from a record rise of 4.8 million a month earlier

1.2 million Americans seek jobless aids after $600 federal check ends

08-08-2020
For the week that ended on July 31, a stabbing 1.2 million laid-off Americans had filed for unemployment benefits

United States posts record rise in June exports as trade deficit drops

08-08-2020
United States had reported a record rise in exports on June, while the world's No. 1 economy had also registered a shrinkage in trade deficits

Turkish currency hits all-time low amid recession bubbles

07-08-2020
As a number of emerging market economies' currencies had been devaluing sharply against their American peer despite a broad-based weakness in US Dollar, Turkish Lira had hit a record low on Thursday

Argentina strikes $65 billion sovereign debt deal, averts hard default

06-08-2020
Argentine Economy Minister Martin Guzman said in a late-evening press conference on Tuesday that the LATAM country had struck a restructuring deal with a majority of its creditors for around $65 billion sovereign debt

US service sector activities hit 17-month peak in July

05-08-2020
ISM (Institute of Supply Management) index for US service sector activities had spiked to a 17-month peak last month

Asia’s factory pain continues to ease as China activity climbs

05-08-2020
As a shimmering beacon of hope for the pandemic-struck Asian economy, China's factory activity PMI had posted its third consecutive month of gains

Eurozone factory activity expands for the first time in 1-1/2 years in July

04-08-2020
On Monday, eurozone Markit's final manufacturing PMI data had revealed a growth for the region's factory activity for the first time since January 2019

New York’s Fitch lowers United States’ “triple A” credit rating outlook to negative

03-08-2020
On Friday, global credit rating agency Fitch had lowered United States' credit rating outlook to "negative" from prior "stable" citing a soaring budget deficit

US Consumer spending up 5.6%, but pandemic could hinder gains

02-08-2020
US Commerce Department said in a statement on Friday that the US Consumer Spending stepped up by 5.6 per cent in June