offshore trade boosts chinese yuan against the dollar

Offshore trade boosts Chinese yuan against the dollar

Economy Mohit Shah - Jan 05, 2017

On Thursday, Chinese yuan scaled upwards at its fastest rate against the U.S. dollar due to improved offshore trade.

eurozone inflation surges to 1.1 percent highest in three years

Eurozone inflation surges to 1.1% – highest in three years

Economy Himanshu Gill - Jan 04, 2017

Official figures show that inflation in the 19 countries’ Eurozone has surged to its highest rate in more than three years, largely due to increasing energy costs.

malaysian ringgit could drive past 455 by the end of first quarter

Malaysian ringgit could drive past 4.55 by the end of first quarter

Economy Mohit Shah - Jan 03, 2017

According to a Westpact analyst, the Malaysian ringgit would weaken during the January-March quarter in comparison to dollar. 

bitcoin crosses 1000 dollar mark for the first time in three years

Bitcoin crosses $1000 mark for the first time in three years

Economy Himanshu Gill - Jan 03, 2017

Digital currency Bitcoin has started the year on a high, hitting the $1000 mark for the first time in three years on 2nd January, with its market capitalization exceeding $16 billion.

argentina gathers huge sums in cash from new tax amnesty law

Argentina gathers huge sums in cash from new tax amnesty law

Economy Himanshu Gill - Dec 29, 2016

Assets worth $90 billion have been declared in Argentina as a result of a new tax amnesty law which was passed earlier this year to bring back billions of dollars of offshore wealth and unregistered f

saudi arabia plans to tax expats and increase gas prices to boost revenues

Saudi Arabia plans to tax expats and increase gas prices to boost revenues

Economy Himanshu Gill - Dec 28, 2016

The falling crude oil prices in the international market has stimulated Saudi Arabia for another budget overhaul, as the government plans to levy tax on expats and increase gas prices.

france overtakes the uk on global economic league table

France overtakes the U.K. on global economic league table

Economy Mohit Shah - Dec 27, 2016

Britain has been ranked behind France in the world’s economic league table; reports suggest that the U.K. might drop another two places in the coming 15 years.

us new home sales show record increase in november

US new home sales show record increase in November

Economy Himanshu Gill - Dec 26, 2016

US single-family home sales rose more than anticipated in the month of November, posting a solid growth rate for the whole year.

sterling expected to get another bruise from brexit

Sterling expected to get another bruise from Brexit

Economy Mohit Shah - Dec 23, 2016

As per the managing director at IMA Asia, Richard Martin, the noted value of pound reveals Brexit as a slow-moving disaster for the whole of Britain.

uk third quarter growth upgraded to 06 percent

UK third quarter growth upgraded to 0.6%

Economy Himanshu Gill - Dec 23, 2016

There were no signs of a Brexit-linked slowdown in the UK economy as it grew by 0.6% in the third quarter, more than previously estimated.

deutsche bank agrees to 72bn settlement with ud dept of justice

Deutsche Bank agrees to $7.2bn settlement with US Dept. of Justice

Economy Himanshu Gill - Dec 23, 2016

Germany's Deutsche Bank has agreed to a $7.2bn settlement with the US authorities over its sale and pooling of toxic mortgage securities before the 2008 financial crisis.

japan approves record military spending amid rising tensions with china and north korea

Japan approves record military spending amid rising tensions with China and North Korea

Economy Himanshu Gill - Dec 22, 2016

Shinzo Abe, Japan’s Prime Minister, has signed a record defense budget amid rising territorial disputes with China and North Korea’s nuclear missile threats.

1 billion dollar loan for egypt gets approved by world bank

$1 Billion Loan for Egypt Gets Approved By World Bank

Economy Pavan Pandey - Dec 21, 2016

The World Bank has decided to deliver the second tranche of loan value of $1 billion aimed at supporting job creation and spurring growth in Egypt.

the pm takes on a mission to revive italys third largest bank

The PM Takes on a Mission to Revive Italy’s Third-Largest Bank

Economy Pavan Pandey - Dec 21, 2016

Italy’s third-largest bank and world’s oldest surviving bank, Monte Dei Paschi di Siena, needs to raise around 5 bn Euro in fresh capital by the end of this month to retain its lost track.

china hands over biggest us creditor crown to japan

China Hands Over Biggest U.S. Creditor Crown to Japan

Economy Pavan Pandey - Dec 17, 2016

China has been dethroned by Japan as the biggest debt holder of the U.S. govt. as the Chinese central bank has plunged into its foreign exchange reserves to support the currency, Yuan.

russian central bank holds interest rates signaling for a cut 2017

Russian central bank holds interest rates, signaling for a cut 2017

Economy Himanshu Gill - Dec 17, 2016

The Central Bank of Russia announced yesterday that it will keep its benchmark interest rate unchanged at 10%, saying that it might consider cutting rates in the first half of 2017.

gopro stocks hit all time low

GoPro stocks hit all-time low

Economy Himanshu Gill - Dec 17, 2016

Action camera company GoPro witnessed a major plunge in its stock, as shares fell by 2 percent this week to its lowest level ever.

us federal reserve raises interest rates by 025

US Federal Reserve raises interest rates by 0.25%

Economy Himanshu Gill - Dec 15, 2016

The US Federal Reserve raised its benchmark interest rates by 0.25%, signaling chances of more regular increases in the upcoming years.

us companies fear retribution from china after trumps remarks

U.S. companies fear retribution from China after Trump’s remarks

Economy Himanshu Gill - Dec 13, 2016

U.S. President-elect Donald Trump’s recent challenges to China and Taiwan over trade are rattling American companies who now wary of retribution from China.

trade deficit narrows in uk despite the brexit slowdown

Trade Deficit narrows in UK despite the Brexit slowdown

Economy Himanshu Gill - Dec 10, 2016

The UK trade deficit in goods and services went down by 2 billion pounds ($2.51 billion) in the month of October, much more than expected.  

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