Роман Евдокимов

Roman is a specialist with comprehensive knowledge of economic disciplines and the theory of market mechanisms. He has worked with various indicators and factors affecting traders’ profit.

Roman conducts a detailed analysis of objects to invest in them.

Samsung Electronics’ first-quarter profit hits 3%, surpassing forecasts

Samsung Electronics Co Ltd (005930.KS) disclosed on Tuesday that its first-quarter operating profit inched up to 3%, surpassing analysts’ expectations as chip sales nursed the impact of the coronavirus contagion on smartphones and televisions. Samsung expected a total of 6.4 trillion won (equivalent to $5.2 billion), to be its operating profit in the quarter ended […]

Pound to recover losses against dollar but analyst estimates slashed

The British pound will have recovered its losses against the dollar in a year. However, analyst forecasts a month ago were cut as the coronavirus continues to create chaos.  The pound declined in recent weeks as concerns about the pandemic’s impact on the economy drove investors to safer currencies and to liquidize assets in exchange […]

U.S. Treasury hires Wall Street bankers, lawyers for aid advice

The U.S. Treasury Department hired lawyers and Wall Street bankers to serve as consultants regarding billions of dollars’ worth of aid to the defense, cargo, and airline sectors, sources said. The aid advice followed the approval of a $2.2 trillion stimulus bill last week to ease the economic fallout amid the pandemic. The virus has […]

Oil hikes after Trump says Saudi, Russia likely to resolve price war

Crude oil futures gained almost 5% on Thursday after U.S. President Donald Trump stated that he anticipated an agreement will be reached by Saudi Arabia and Russia regarding their price war. Brent crude futures climbed 4%, or $1, at $25.74. US West Texas Intermediate crude futures rose 3.7%, or 75 cents, at $21.06. Trump said […]

Disney+ will launch on OSN in UAE today

The Orbit Showtime Network has announced the launch of Walt Disney Co’s (DIS.N) Disney+ in the Middle East and North Africa. It will be accessible on pay television and streaming service provider starting on Thursday. OSN has revamped its range of services and now has shows like Disney’s recent hit “The Mandalorian.” Disney+ is available […]

Macy’s loses spot in S&P; Carrier Global takes over

Macy’s M.N, an American department store chain, dropped its spot from the S&P 500 Index standard. Macy’s shares dropped 80% in the last 12 months of their operation which results in a lowered market value of $1.52 billion as of Tuesday’s close, based on Refinitiv IBES data. The company said that the store closures and […]

Asian shares soar, China’s manufacturing sector recovers

Asian shares recorded a positive but cautious increase on Tuesday as figures from China indicated that the factory sector regained momentum. MSCI’s broadest index of Asia-Pacific shares acquired 1.1% and Japan’s benchmark index Nikkei added 1.0% after a tumultuous start. South Korea’s .KS11 finished its session with 2% gains. China’s official manufacturing purchasing manager’s index […]

Indonesian stocks plummet by 5%, trade halts temporarily

Indonesian stocks plummeted to a level that resulted in a temporary trading halt as the number of infected cases by the coronavirus locally and globally increased significantly. The Jakarta Composite Index plunged by 5%, ending its 2-day gain streak and triggering a 30-minute trading halt. The benchmark had previously soared by 15% in the past […]

Gold prices fall off 2-week highs amid equities recovery

Gold prices fell from its two-week high perch on Friday in Asia amid a recovery in equities. Gold Futures for April delivery last traded on the Comex exchange at $1,640, dropping by 0.7% by 12:55 AM ET (04:55 GMT). Despite the day’s losses, gold trade at a high above 8% for the week and has […]

Reserve Bank of India slashes interest rates in urgent bid to bolster virus-hit economy

The Reserve Bank of India (RBI) decided to cut interest rates unexpectedly on Friday in an emergency move to bolster the nation’s economy affected by the virus outbreak. The RBI’s move joins many other stimulus-boost efforts by central banks around the world. Its benchmark rate was cut by 75 basis points from 5.15% to 4.40% […]

RBA buys semi-government bonds as coronavirus crushes state revenues

The Australian central bank bought semi-government bonds for the first time since the quantitative easing program launched to counter the pandemic and its impact. The Reserve Bank of Australia purchased A$2 billion ($1.2 billion) in semi-government bonds maturing in January 2026 to June 2030. As businesses in Australia stopped operations due to lockdown, the semi-government […]

Nike income drops as digital growth covers China sales decline on virus impact

Nike Inc (NKE.N) beat estimates for quarterly income on Tuesday as strong digital market covered the first China sales drop in nearly six years from the coronavirus-powered shutdowns, yet the company held back from providing an estimate forecast due to the unrelenting pandemic. The coronavirus outbreak forced Nike to temporarily close down stores to help […]

India stocks recover from record losses as support rallies in favor of domestic market

India stocks rose, taking back ground after record losses on Monday after investors picked stocks that have dropped significantly as the nation goes into lockdown to limit the spread of the COVID-19. The S&P BSE Sensex gained by 1% to 26,239.96 as of 9:47 AM in Mumbai. Meanwhile, the NSE Nifty 50 Index had also […]

Dollar advances as virus crisis prompts investors to seek cash

TOKYO- The dollar topped the trading board against basket of other major currencies on Monday. Upbeat performance was mainly from investors’ decision of resorting to fiat currencies as recent setbacks faced by global stocks and concerns of tightening liquidity continue to press. The U.S. greenback gained against sterling and recorded its strongest activity since 1985. […]

Fed officials ensures additional action as virus outbreak dampens economic outlook

U.S. Federal Reserve officials with experience handling crises said that the central bank was open to roll out additional action in order to soften the economic impact of the coronavirus pandemic. As of now, the Fed are aiming to provide assistance to corporate bonds as well as local and state governments. St. Louis Federal Reserve […]

NYSE transitions to e-trading after two confirmed coronavirus cases

The New York Stock Exchange is set to close its trading floors and transition to electronic trading for the mean time after an employee and a trader tested positive for COVID-19. The two were last in the building on March 13, said NYSE owner Intercontinental Exchange Inc. NYSE is set to close some of its […]

Airlines’ cash drawers emptied, virus causes $157 billion loss from share values

Global airlines are caught in a bind as the coronavirus outbreak reaches for their bottom dollar. They had slashed capacity by 90% and had even grounded fleets due to travel restrictions.   The ungodly spread of the virus had managed to take out 41%, or $157 billion, of the share value of 116 listed airlines […]

US stock futures slip as virus outbreak dwarfs fiscal stimulus

US stock futures slid in Asian trade on Wednesday as pandemic fears grew on policy support to protect economies from fallout.  U.S. stock futures dropped 2.0%, following a 6.00% gain in S&P 500 on Tuesday, recovering half of its losses on Monday. S&P 500’s gain came after the coordination of global fiscal policies in order […]

Dollar holds gains overnight against most major currencies

The U.S. Dollar held overnight gains against most major currencies on Wednesday amid a rise of U.S. yields and piling fears of the economic impact of the coronavirus pandemic had investors retreating to the Greenback. The British Pound as well as the Japanese Yen attempted to recover at its best efforts but only managed to […]

Samsung says growing demand may increase chip market sales

Samsung Electronics Co Ltd said on Wednesday that while the piling economic fears of the coronavirus pandemic would hurt sales of consumer electronics for 2020, it said that a growing demand from data centers could potentially restore its memory chip markets. Chief Executive Kim Ki-nam said that the virus outbreak as well as the U.S.-China […]

Gold Prices take back ground as U.S. stocks rebound sharply

Gold prices took back ground from Tuesday’s $1,500 drop on Wednesday morning as new U.S. stimulus package bounced stock markets sharply overnight. Gold futures inched up by 0.55% to $1,534.20 by 10:20 PM ET (2:20 AM GMT). The rise in gold prices has been widely attributed to recent efforts around the world to prevent a recession. Central […]

UK to rally business support as coronavirus spreads further

The United Kingdom had announced on Tuesday that it would be ramping up on support for businesses affected by the virus outbreak. The government had recently told its people to avoid public areas such as pubs, restaurants, and theaters which had hurt a majority of companies in the country. The Bank of England’s Finance minister […]

Oil prices climb $1 as steep declines attract bargain buyers

Oil gained over $1 on Tuesday as investors began bargaining due to recent steep declines in prices caused by the pandemic and the Saudi Arabia-Russia price war. However, fears of recession still loom over the market. Brent crude went up 1.8%, or 55 cents, at $30.60 per barrel, following a high of $31.25. U.S. West […]

Bank of Japan takes additional steps to stabilize market in an emergency meeting on Monday

The Bank of Japan is awaited to acquire other steps to balance the markets and minimize the economic impact from the coronavirus outbreak in an emergency meeting on Monday. They were connected with other central banks and they also tried to calm the investors. The Japanese central bank was prepared to increase asset purchases and […]

Wife of Canada’s Prime Minister Justin Trudeau tests positive for coronavirus

Canada’s Prime Minister Justin Trudeau will be isolated for two weeks because his wife, Sophie Gregoire Trudeau, had confirmed positive for coronavirus on Thursday. The outbreak led the province of Ontario to screen the schools to limit the spread. Sophie Gregoire Trudeau recently came back from London and showed flu-like symptoms. “She was tested for […]

Oil gains for second day as investors turn to US producers’ output cut

Oil prices rose for the second consecutive day on Wednesday as markets clung to potential production cut by U.S. producers. However, increase in prices were smaller compared to the crash on Monday after Saudi Arabia started a price war with Russia. West Texas Intermediate jumped 3.3%, or $1.12, at $35.48 per barrel, while Brent crude […]

Asia Pacific stocks strive for market power, Dow futures moves up 500 points

Most of Asia Pacific stocks, save for the US stocks which gained after the outbreak of the novel coronavirus, fell on Tuesday.  The benchmark for Australian’s equity performance S&P/ASX 200 was up 1.7%, regaining previous losses. It’s now trading nearly 19% below its most recent high, just under the 20% which still remains in a […]

Bank of Japan  scrutinizes markets for “very unstable” moves, exposes cost of ETF buying

Bank of Japan Governor Haruhiko Kuroda said he was analyzing the financial blowback from volatile market movements. Kuroda confirmed central bank’s preparedness to take appropriate action to increase assistance in obstructing the developing dangers from the coronavirus flare-up. He also disclosed the BOJ’s prediction which revealed its holdings of exchange-traded funds (ETF). Paper losses may […]

Asian shares turn steady as markets rely on global policy stimulus

Asian shares recovered and bond yields climbed from all-time lows on Tuesday as potential organized stimulus from central banks and governments globally calmed markets. The 10-year US Treasury yields rose to 0.68% and oil prices hiked over 6%, raising notions that the market steadied, even for a while. Senior FX strategist Rodrigo Catril at National […]

Dollar recovers as oil and virus threats lurk

TOKYO- The dollar managed to climb on Tuesday after meeting sharp decline versus Swiss franc, yen, and euro. Such boost was enforced by optimism on US economic stimulus and recovery in Treasury yields.                 The previously beaten dollar found its momentum and recovered from previous defeat against other currencies.  It clocked in 1% to 103.26 […]

Global shares suffer in COVID-19 panic, oil underperforms

SYDNEY- Global shares plummeted on Monday as wary investors sought bonds to equalize the economic impact of the novel coronavirus. Oil followed trend and shed more than 20% after Saudi Arabia cut its official selling price. Investors anxiously resorted to 30-year U.S. bonds pushing it up neutral to 1%. Such followed as markets anticipated that […]

ADB says coronavirus could cut global growth by 0.1% to 0.4%

The Asian Development Bank (ADB) said on Friday that the spread of the exceedingly infectious coronavirus outside of China might cut worldwide economic growth for the year. According to the Manila-based lender, the outbreak could cut global GDP by 0.1% to 0.4% with losses reaching between $77 billion and $347 billion. In Asia, development could […]

Australian economy recuperates but outlook remains dim

SYDNEY- Australia’s economic growth picked up pace and soared beyond what is expected last quarter. The recovery removed the threat of recession even as bushfires and novel coronavirus contagion brought disruptions to tourism and the travel sector earlier this year. The risks posed by the COVID-19 urged the Reserve Bank of Australia (RBA) to reduce […]

Box Inc predicts first-quarter revenue will beat analyst forecasts

Box Inc. predicted its first-quarter revenue to beat Street estimates due to higher demand for its online software products, causing its shares to gain 9% in extended trading. The company beat fourth-quarter profit and revenue, lifted by its add-on services and the subscription of bigger companies to its products. As companies move to an online […]

Dollar slides, loses safe haven status

The dollar slipped on Wednesday as investors question its relative strength, together with other US financial assets, as central bank imposed rate cuts and health officials warned of a potential domestic virus outbreak. The dollar’s index declined to 98.980 against a basket of major currencies. It lost 0.9% since its peak at 99.915 the previous […]

S&P 500 drops to its lowest since 2018 over coronavirus fears

The S&P 500 dropped to its lowest in two years on Monday when a sudden rise in coronavirus cases outside China caused investors to worry about valuation after the recent highs. The S&P 500’s 3.5% drop was its heaviest fall in a day since February 2018, during Wall Street’s correction. Market fears came after investors […]

Asian shares seek for momentum as S&P futures recover

SYDNEY- Asian share markets tried to find and gain momentum after earnings from early session declined and Wall Street futures soared far from its previous inactivity. The positive performance eased investors’ wariness brought by the coronavirus contagion. Reports have it that a vaccine eased investors’ heavy sentiment. However, human tests of the medication may take […]

PepsiCo agrees to buy Chinese snack brand Be & Cheery for $705 million

PepsiCo agrees to buy Chinese snack brand Be & Cheery for $705 million PepsiCo Inc has agreed to buy the China-based snack brand Be & Cheery from Haoxiangni Health Food Co Ltd for $705 million, according to the companies. Haoxiangni said, in a separate filing, that its decision to sell the snack brand was so […]

Teck withdraws C$20.6 billion application for oil sands Frontier project

Canada’s Teck Resources Ltd. pulled back the request to build a C$20.6 billion ($15.7 billion) Frontier oil sands mine in Alberta, which had been heavily criticized by environmentalists and indigenous groups and is on the final stage of decision for approval. Teck said that it would write down the project’s C$1.13 billion ($852.12 million) carrying […]

Oil sinks on pressing demand problems as nCoV spreads on global scale

SINGAPORE- Oil lost an estimated 3% earnings and fell close to hitting one-week low on Monday as the rapid coronavirus contagion outside China dampened markets sentiment and made investors wary on dwindling crude demand. Global shares also hit lower grounds as virus concerns resurfaced brought by bloating records of virus cases in South Korea, Italy, […]

Alibaba extends help to firms hit by coronavirus spread, offers $2.86 billion in loans

Alibaba Group Holdings announced on Monday that its affiliate Ant Financial’s MYBank unit is out to lend 20 billion yuan ($2.86 billion) in loans to firms in China amid the coronavirus spread, with special offerings for companies in Hubei province. According to Alibaba’s official statement posted on its official Weibo account, 10 billion yuan will […]

Japan’s economy falls in fourth quarter, recession risks grow

Japan’s economy fell to its fastest pace in six years, caused by a sales tax hike that hit business and consumer spending, worsening an outlook already affected by the virus outbreak. Analysts say that the epidemic could weaken growth in the current quarter and thrust Japan into recession. Japan GDP fell 6.3% in the final […]

Asian shares inch up to three-week highs on China’s support measures

SYDNEY- Asian shares recuperated from previous underperformance and managed to go back on track for three-week high as investor sentiment increased on Chinese efforts to minimize the impact of coronavirus contagion. However, Japanese stocks sunk down on risks brought by recession. Trading activity will ease as U.S. stocks and bond markets will temporarily stop operating […]

Yen gains on nCoV concerns, frail economic outlook drags euro

TOKYO-The Japanese yen rose against the dollar on Friday as resurfacing concerns about the impact of the novel coronavirus aided safe-haven currencies’ performance. The yen held tight at 109.81 per dollar in Asian trading board on Friday, continuing its 0.25% gain from previous session. The euro continued to trade negatively hitting its multi-year of low […]

Foxconn: recent Reuters report on factory resumption in China, not factual

Taiwan’s Foxconn said on Thursday that the recent Reuters reports about the company resuming operations in production plants were not factual. The contract electronics manufacturer, currently supplying tech giant Apple Inc, made the comment in a statement to the Taipei stock exchange. However, Foxconn, formally called Hon Hai Precision Industry Co Ltd, did not elaborate […]

Facebook defers launch of dating service in Europe as Irish officials hold search operation in offices

Facebook postponed the launching of its dating service in Europe which was scheduled for the eve of Valentine’s Day after Irish data regulator official searched its offices. According to the regulating body, the conducted inspection in offices of the social media company in Dublin was mandated after learning Facebook’s plan of launching the dating service […]

China can fortify stimulus if growth slows further amid virus spread, IMF says

China will strengthen stimulus if economic slowdown continues amid virus spread, Changyong Rhee, senior official at International Monetary Fund said. But China should not disregard structural reforms to cater rapid credit growth, he added. Rhee, director of the IMF’s Asia and Pacific Department, said that China’s economic growth was slowing down before the epidemic due […]

SoftBank shares surge up to 14% after U.S. judge approves merger between T-Mobile and Sprint

SoftBank shares surge up to 14% after U.S. judge approves merger between T-Mobile and Sprint Shares of SoftBank Group Corp. in Japan shot up by 14% on Wednesday after a U.S. judge green-lit a $26 billion merger between T-Mobile and Sprint—a deal SoftBank sought for nearly a decade. “All necessary federal approvals required for the […]

Oil inches up as NcoV cases decelerate, boosts market sentiment

SEOUL- Oil prices advanced continuing its Tuesday’s well-ended performance on Wednesday. Such upbeat activity was mainly from signals that coronavirus cases are decelerating in China, relieving investors from demand concerns brought by the virus which originated from world’s second-largest oil importer. Brent crude LCOc1 increased by 73 cents, equivalent to 1.3%, standing at $54.75 a […]

Safe-haven assets rise amid coronavirus concerns

Safe-haven assets rise amid coronavirus concerns Gold prices rose while the USD/EUR currency pair reached a four month high on Monday as investors retreated to safe-haven assets amid China’s rising death toll from the coronavirus outbreak. Weak economic data in the Eurozone made the Greenback relatively more attractive to traders than the single currency. This […]

Uber expects gains at latter part of 2020 but braces for year of decline

Uber Technologies Inc (UBER. N) adjusted its target with an aim of achieving its profitability by the end of the year, but the ride hailing firm anticipates a major decline estimating up to $1 billion or more this 2020. Uber shares advanced greatly up to 5% in after-hours session. Such activity followed after Chief Executive […]

EA’s tepid 4Q forecast adjusts below analysts’ expectations

EA’s tepid 4Q forecast adjusts below analysts’ expectations Electronic Arts Inc. adjusted its forecast for fourth-quarter revenue below analysts’ estimates after being pressured by the delayed launch of its anticipated title “NBA Live”. EA delayed the release of “NBA Live” last quarter in order to coincide with the launch of new gaming consoles from Microsoft […]

Asian shares recover after suffering for a week

Asian shares regained momentum on Friday as investor sentiment was uplifted by optimism that China would contain the novel Coronavirus, even reports continued to file more cases and death rates. China’s manufacturing activity which surpassed analysts’ expectations heavily contributed to upbeat market sentiment while services strongly stabilized. In line with this, Amazon reached far beyond […]

Australia inflation climbs but remains below target

Australian inflation rose at the end of 2019 but remains below target despite three interest rate cuts, prompting central bank to think of new measures to revive consumer prices. The consumer price index climbed 0.7% in the fourth quarter, which was slightly higher than the 0.6% increase forecast, attributed to higher fuel prices, cigarettes, travel, […]

Asian stocks hold steady despite investor fears over China virus

Asian stocks hold steady despite investor fears over China virus Asian shares held steady on Friday as trade slugged toward the Lunar New Year despite growing concerns over the new virus in China. Investors had feared that the coronavirus could spread further as millions travel for the week-long holiday. MSCI’s broadest index of Asia-Pacific shares […]

Japan economic outlook gloomy, central bank policymakers say

Global economic uncertainties and a sales tax hike in 2019 may have hit hard on capital spending and inflation expectations, warned Bank of Japan policymakers as reflected on the central bank’s minutes of the meeting in December. One member proposed to impose a stimulant based on the effect tax hike caused on private consumption. The […]

Tesla reaches $100 billion stock market valuation

Tesla Inc became the first publicly listed US carmaker to reach $100 billion worth in stock market valuation in extended hours trading on Tuesday. This came a month after the electric car maker’s stock reached $420, on which CEO Elon Musk said he would take Tesla private. In a tweet in August 2018, Musk said […]

Oil prices retreat as concerns on supply diminish

SINGAPORE- Oil prices inched down on Tuesday as investors paid little attention to previous supply concerns following Libya’s declaration of a force majeure on two oilfields.                 Brent LCOc1 was down 30 cents, equivalent to 0.5% at $64.90 per barrel by 0318 GMT.  The crude eased down after soaring to its highest in more than […]

IEA warns oil and gas companies about lax emission policies

IEA warns oil and gas companies about lax emission policies The International Energy Agency (IEA) on Monday cautioned oil and gas companies that failing to increase investments in low carbon energies may result in them facing backlash that could threaten long-term profits and public support. Around 15% of global energy-related emissions have come from the […]

China to secure industrial growth in 2020

BEIJING- China assured to stabilize the industrial growth and aid its progress for 2020 despite pressing concerns encountered by the sector, Minister of Industry and Information Technology Miao Wei said on Monday. China’s industrial production surpassed expectations last December by jumping up to 6.9% from a year earlier. Such was the most rapid pacing it […]

Dollar soars on high market sentiment over US economic forecast

SINGAPORE- US Greenback started a strong weekly session on Monday brought heavily by positive US economic data, minimizing the possibility of interest rate cuts. The US dollar remained firm enough to reach its one week high against the euro EUR= at $1.1096. Its previous session placed it neutral from its eight-month high against Japanese yen, […]

China GDP grows 6% in fourth-quarter, in line with analyst estimates

China released its fourth quarter GDP for 2019, showing an economic growth of 6% compared to last year. Official data showed that the Chinese economy maintained last quarter’s pace as expected by analysts. GDP was estimated to grow by 6% in the October-December quarter, stalling at the shortest pace in twenty-nine years. As China faced […]

Gold prices rise amid brewing skepticism over U.S.-China’s Phase 1 trade deal

Gold prices rise amid brewing skepticism over U.S.-China’s Phase 1 trade deal Gold prices rose on Friday amid skepticism about the trade deal between the U.S. and China. Beijing and Washington had signed a Phase 1 deal on Wednesday, though some doubted whether the two major economies could develop it relations consistently. Gold Futures for […]

Oil prices fall as stockpiles drop past analyst expectations

Oil prices fall as stockpiles drop past analyst expectations Oil prices fell on Friday morning as stockpiles took a sharper decline than analysts expected. This was confirmed by a report by the U.S. Energy Information Administration (EIA). The EIA said that crude inventories had declined by 2.5 million barrels compared to the expected drop of […]

US agency to fund $1 billion into Guatemala’s private sector

The United States will fund Guatemala’s private sector with $1 billion to stimulate investment and create jobs, said US government agency head. It was announced after Alejandro Giammattei, the new president of Central American country, met with US officials to discuss spurring economic growth through investment and to contain migration in the US. “It’s a […]

China’s financial firms can subsist against foreign rivals: central bank

BEIJING- Chinese financial institutions are very much stable, enough to compete against foreign competition as the $40 trillion worth of financial sector was discharged, the central bank said on Thursday. Such followed after China and the United States settled the initial pact of the trade deal. Central bank will heighten its regulation and supervision to […]

Dollar sturdies ahead signing of U.S.-China trade deal

Dollar sturdies ahead signing of U.S.-China trade deal The U.S. Dollar remained strong on Friday and was set to close on a high note a few days ahead of the signing of a ‘phase one’ trade deal between the United States and China. The US Dollar Index Futures was flat at 97.45 by 9:30 PM […]

Oil sheds 1% from investors’ Middle East sentiments

NEW YORK- Oil prices declined an estimated 1% gain on Tuesday, losing some recent earnings as the possibility of immediate supply disturbance after US military forces killed top Iranian commander dampened investors’ sentiments. Brent crude LCOc1 sunk down 64 cents, equivalent to 0.93% or $68.27 per barrel. US West Texas Intermediate (WTI) crude CLc1 declined […]

EUR/USD under 1.12 amidst EZ inflation; Suleimani’s death causes tension

Of late, the pair EUR/USD trades below 1.12. This is amid inflation within the Eurozone that had met expectations with 1.3% in headline and core CPI. Tensions in the Mid-East have been found to not have strong effect on markets. The US ISM Non-Manufacturing PMI is currently being eyed. As the Euro and the Dollar […]

Turkish electric car project seen at an investment of $3.7 billion

Turkish electric car project seen at an investment of $3.7 billion Turkey’s new domestic electric car project will have a fixed investment of 22 billion Lira ($3.7 billion) over a period of 13 years, with an annual production capacity of 175,000 vehicles according to the Official Gazette on Friday. The Official Gazette reported on a […]

China turns to financial experts to manage and rebuild economy

China turns to financial experts to manage and rebuild economy China’s government has embarked on a new strategy of placing financial experts in provinces to manage risks and rebuild regional economies as the country struggles to deal with its slowdown. Since 2018, President Xi Jinping has placed 12 former executives either in state-run financial institutions […]

U.S. holiday online sales set record, 3.4% bigger than last year’s record

The U.S. online retail sales amassed record-breaking figures, outperforming last year’s output as Mastercard Inc. reported on Wednesday. E-commerce sales this year comprised 14.6% of total retail figures and went up 18.8% from the same period in 2018. Mastercard data showed retail sales from Nov. 1 to December 24. The overall holiday retail sales surged […]

Gold prices rise with demand ahead of Christmas and New Year

Gold prices rise with demand ahead of Christmas and New Year Gold prices rose Monday morning in Asia as investors opted for the saf-haven asset ahead of Christmas and New Year holidays. U.S. Gold Futures inched up 0.25% to $1,484.55 by 10:59 PM ET (3:59 AM GMT),  recovering after the dollar steadied the day before. […]

Oil prices head to three-month peak after US crude inventories drop

SINGAPORE-Oil prices edged closer to achieving its third consecutive months of positively ended performance on Thursday, maintaining its momentum which started a week ago. Such followed after records disclosed that US crude inventories plummeted down while output reduction by major producers held supply steady. Brent crude futures swiped out 1 cent to $66.16 per barrel […]

Bank of England to stay on hold as it weighs Brexit outlook

The Bank of England is looking to pause from making rates decisions as it weighs up Brexit’s outlook on Thursday. Flashes of hopes rose after the recently concluded election favoring a graceful Brexit but Prime Minister Boris Johnson seems to dim the bright outlook as he revives fears of a disorderly exit from the European […]

Fiat Chrysler to merge with Peugeot owner PSA agree in $50 billion deal

Fiat Chrysler and Peugeot owner PSA have agreed on a binding merger in a deal worth $50 billion to pave the way for the world’s fourth largest car maker. The two companies announced the merger that will reshape the global industry six weeks ago, as car manufacturers worldwide struggle with a decrease in demand. Car […]

EU must avoid cliff-edge in talks with Britain, says senior EU official

The EU will have to limit discussions about its future relationship with Britain to avoid heading into another cliff-edge, a senior EU official said. This statement came after Britain affirmed its exit from the European Union before 2020 ends. After UK Prime Minister Boris Johnson’s big election win, he planned to work on declaring the […]

WeWork arranges $1.75 billion credit line with Goldman Sachs

WeWork arranges $1.75 billion credit line with Goldman Sachs The shared workplace company WeWork said on Tuesday that it has arranged a $1.75 billion letter of credit with Goldman Sachs that is in the process of being syndicated and whose funds will be available in January next year. The move comes in part of SoftBank […]

Japan’s exports slips amid declining U.S., China demand

Japan’s exports slips amid declining U.S., China demand Japan’s export shrank for its 12th month as shipments to the United States and China declined, severely impacting the country’s trade-reliant economy and raising the risk of a fourth-quarter contraction. Wednesday’s official data showed Japanese exports falling 7.9% year-on-year in November, which was a small decline compared […]

The Sacklers transfer Purdue Pharma’s $10 billion to its other companies

The Sacklers transfer Purdue Pharma’s $10 billion to its other companies The owners of Purdue Pharma, the Sackler family, transferred more than $10 billion in a decade from the OxyContin maker to its trust and holding companies, according to a New York Times report on Monday, citing the drugmaker’s newly-commissioned audit. The audit is likely […]

UK’s The Hut Group acquires €1 billion to fund expansion

UK’s The Hut Group acquires €1 billion to fund expansion British online retailer, The Hut Group (THG) said it had raised €1 billion ($1.10 billion) to help fund expansion amid macro-economic and political changes from Brexit and the general election. The new capital of a €600 million term loan, a five-year £150 million ($192.45 million) […]

Factory Activity of Japan drops eight consecutive months in December

Lower demand and extended output decline dragged Japan’s factory activity shrink to eight consecutive months in December. Fourth-quarter economic contraction looms around Japan’s economic zone. From a 48.9 marker in November, the Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) dipped to 48.8 (seasonally adjusted). This marks another below the 50.0 threshold level performance, […]

Oil prices hike as OPEC changes 2020 forecast

TOKYO-Oil clocked in gains on Thursday with market sentiment relieving from anxiety as OPEC changes its 2020 forecast mainly from records disclosing increase in US crude inventories.                 Brent futures LCOc1 climbed 24 cents, equivalent to 0.4% to $63.96 per barrel at exactly 0242 GMT. Such activity followed after 1% loss on Wednesday brought by […]

Australia’s Central Bank sees China slowing down to 3% by 2030

Australia’s Central Bank sees China slowing down to 3% by 2030 The Reserve Bank of Australia (RBA) reasoned how China’s economic growth could slow down to around 3% by 2030 as a result of low birth rates, corporate debt, and low productivity. “China’s period of ‘above-normal’ growth is drawing to a close,” the RBA’s Ivan […]

JPMorgan warns emerging market debt trading to increase in 2020

More developing countries will be hit by debt woes next year, cutting returns for the JPMorgan index of dollar sovereign bonds, according to the bank’s head of emerging markets research. Countries affected by debt crises in 2019 include Lebanon, Argentina, and Venezuela. However, their relatively small part in global bond indexes has meant little contagion […]

Tories likely to win despite hung parliament chances; U.S.-China conflict anew

According to top 10 analysts, Tories are likely to win the elections. While this is the case, a hung Parliament might still be in the cards due to Conservatives not favored in some parts of the Westminster. Worth noting here are rising allegations related to UK Prime Minister (PM) Boris Johnson that came with his […]

China to remove duties from U.S. pork and soybeans

China to remove duties from U.S. pork and soybeans China will remove duties from some U.S. exports like pork and soybeans, according to China’s finance ministry on Friday after it cited decisions made by the country’s cabinet. The tariff waivers were based on applications by individual firms for U.S. soybeans and pork imports, the ministry […]

Philippines claims to have alleviated poverty from 6 million Filipinos

The Philippine Statistics Authority (PSA) said around six million Filipinos rose from poverty as the government continues to beef up spending on social welfare. The statistics agency of the Philippines reported around 17.6 million Filipinos (or 16.6% of the country’s population) were poor in 2018. The figures were compared to that of the 2015 record […]

Huawei sues FCC in a fight for access to U.S. market

Huawei sues FCC in a fight for access to U.S. markets Huawei Technologies Co. has sued the Federal Communications Commission in a fight to overturn a regulatory decision that would pry Chinese corporations away from its last major American clients. China’s largest technology company said that it had filed the lawsuit with the Fifth Circuit […]

‘Destructive forces’ are trying to sabotage US-China ties, Beijing envoy warns

Chinese envoy to the United States said that the two parties were resolving issues on the phase one of the trade deal, but warned of other parties trying to meddle in the talks and come in between of the two countries without providing further details. Envoy to the United States Ambassador Cui Tiankai said that […]

Large investor pays $31 million for options hedge against US stock market drop

The drop in US stocks on Monday urged one investor to fill up on stock options that would serve as a defense against a possible stronger hit on the US stocks next year. In early market on Monday, a large investor purchased 16,000 of January put options for the worth of $31 million dollars. The […]

China seeks NEV sales to hit 25% of all car sales in 2025

BEIJING/SHANGHAI- China has high hopes that New Energy Vehicle (NEV) sales will scope up a quarter of all car sales in 2025 from a mark of “above 20%’ stated in a 2017 prospectus, the industry ministry said on Tuesday. Chinese market for new energy vehicle, that which offers plug-in hybrids, battery-only electric vehicles, and hydrogen […]

Reserve Bank of Australia keeps rates steady, waits for past cuts to take effect

The Reserve Bank of Australia (RBA) had its interest rates untouched on Tuesday and said it was waiting for the past three implemented rate cuts to take effect in the sluggish economy. However, markets see the need for more rate cuts to drive more economic activities. The central bank of Australia just concluded its last […]


TOKYO-Japan’s Nikkei average sunk down on Tuesday as emerging trade worries surfaced after US President imposed tariffs on Brazil and Argentina, while unstable manufacturing records contributed to inactivity. The Nikkei share average plummeted down with 1.46% loss to 23, 186.84 as it marginally reduced decline to 23,278.67 by 0152 GMT, recording 1.07%. The index recuperated […]


SHANGHAI-Hong Kong’s benchmark index plunged down with 2% loss on Friday brought heavily by recent trade dispute headline about US legislation supporting Hong Kong protesters.                 Hang Seng index shed 2% at 26,363.78 points as Hong Kong Enterprises Index inched down with 2.4% loss to 10,309.46. Such inactivity was brought by tensions between the United […]

China Agri-Industries to go private for up to $1.2 billion

China Agri-Industries to go private for up to $1.2 billion China Agri-Industries Holdings Ltd’s parent company will be taken private in a deal worth around HK$9.17 billion according to a filing that was published on Thursday. According to the trading arm of the Chinese state-owned food group COFCO, the cancellation price was HK$4.25 which was […]

Bitcoin slows down, posts six-month low

Bitcoin’s price on Monday dropped in the middle of its rally to recovery. It posted $6,558 at 1:00 a.m. EST, its lowest rate in six months. The biggest cryptocurrency, however, showed resiliency as it reached $7,100 hours after hitting a six-month low on Monday. Bitcoin last peaked on July 9 and since then, its prices […]

Japanese stocks maintain momentum on trade optimism; fiscal stimulus

TOKYO-Japanese stocks extended its positive performance reaching its fourth consecutive high on Wednesday as optimism increased for the possibility of United States and China settling the ‘phase one’ of the trade pact. At exactly 0148 GMT, Nikkei index soared up with 0.38% gains at 23,462.22 with automakers and retailers leading the top gainer board in […]

U.S. securities regulator proposes new rules on use of derivatives in exchange traded funds

U.S. securities regulator proposes new rules on use of derivatives in exchange traded funds The U.S. securities regulator on Monday proposed new regulations for the use of derivatives by investment funds. This aimed to introduce some safeguards for more risky products and increase competition. The proposal from the Securities and Exchange Commission (SEC), which is […]

Taiwan plans to buy more US goods, acts to bust currency manipulator claims

The central bank of Taiwan and the Ministry of Economic Affairs have prepared specific actions to bid for bigger U.S. goods purchases to reduce its trade surplus. More so, Taiwan seeks to disprove U.S.’ claims being a currency manipulator. Taiwan was called out by the U.S. as a currency manipulator back in December 1992. This […]


Australian shares acquired gains on Monday as China-US trade deal optimism brought market enthusiasm while Westpac Banking Corp snapped four sessions of consecutive lows following the resignation of lender’s chief executive. The S&P/ASX 200 index inched up with 0.8 gains, equivalent to 52.50 points to 6,783.90 by 1243 GMT. Such hike followed after its 0.3% […]

HP rejects Xerox takeover bid again

HP Inc again reiterated that it would reject Xerox’s offer to buy the company for the value of $33.5 billion for cash and stock. In addition to this, HP Inc said the offer “significantly undervalues HP.” The computer manufacturer said that it rebuffed Xerox’s proposal but opened the bid for exploration. Xerox offered $22 per […]

Gold prices drop as the U.S. and China close in on trade deal

Gold prices drop as the U.S. and China close in on trade deal Gold prices fell on Monday after speculation spread that Washington and Beijing would soon sign a partial trade deal. Gold Futures for December delivery inched down 0.2% to $1,466.25by 12:30 AM ET (04:30 GMT). The improved investor sentiment was claimed as headwind […]

Jumbo Interactive jumps 192% this year as online lottery tickets reach peak popularity

Jumbo Interactive jumps 192% this year as online lottery tickets reach peak popularity Australian digital reseller Jumbo Interactive Ltd jumped up 192% this year as online purchases of online lottery tickets increased, Bloomberg said in a report on Friday. The company’s CEO Mike Veverka said in a phone interview that Jumbo aims to triple its […]


MOSCOW-Russia planned to cut the share of US dollar in its National Wealth Fund as it is currently eyeing on investing in other foreign currencies including Chinese Yuan, Russian Deputy Finance Minister Vladimir Kolychev said on Wednesday. The changes to the structure of the National Wealth Fund, which is part of Russia’s sovereign reserves, will […]

Alibaba plans to launch $15 billion Hong Kong share sale

China’s e-commerce giant Alibaba Group is set to launch a Hong Kong share sale that is anticipated to raise $15 Billion as early as Thursday, according to the two sources knowledgeable of the discussions. As Alibaba executives prepare for the launch on Thursday, the sources said that the timing could get lost considering the developments […]


TOKYO- Japanese shares sunk lower on Wednesday after US President Donald Trump’s speech brought disappointment to investors as he disclosed very little information about the trade deal. In line with this, Hong Kong’s political unrest contributed to Nikkei’s underperformance as the city faced increased case of violence. The Nikkei shares plummeted with 0.85% to 23,319.87, […]

Hong Kong regulator fines UBS $51 million for overcharging clients

Hong Kong regulator fines UBS $51 million for overcharging clients Swiss Bank UBS was fined HK$400 million ($51.09 million) by Hong Kong’s securities regulator for overcharging around 5,000 clients for the past decade. The Hong Kong Securities and Futures Commission (SFC) said in a statement that an investigation revealed that UBS had been overcharging clients […]

Trump says trade talks with China are doing well, stresses deal has to be great

“I’d like to make a deal, but it’s got to be the right deal.” This is what U.S. President Donald Trump said in light of the ongoing negotiations between his country and China to seal a trade deal and eventually end the trade disputes between the two powerhouse countries. “The trade talks with China are […]

Brexit: a chaotic European affair

Brexit: a chaotic European affair Economic losses abound the British territory due to Brexit’s delayed and un-welcomed stay. The U.K. Judiciary is about to be pushed “off-its-trolly” with its constant debate regarding the great divorce’s validity. The suspension of the House of Commons by PM Boris Johnson himself had already exceeded a month. And against […]

Boris Johnson vows to issue Post-Brexit Visas for Doctors, Nurses

Britain’s Prime Minister Boris Johnson announced plans for issuing special visas to aid the U.K.’s National Health Service to hire doctors and nurses coming from different countries after Brexit. A new points-based immigration system will be formed by the National Health Service of Britain which will be introduced right after the U.K. departs from the […]

PM Shinzo Abe asks cabinet to prepare measures to support economy

Shinzo Abe, Japan’s prime minister, ordered his cabinet to design a package of stimulus measures to beef up the economy and build infrastructure to cope with large natural disasters, according to a Japanese government spokesman. Chief Cabinet Secretary Yoshihide Suga said the package will include steps to promote investment for growth through the aggressive use […]

Washington and Beijing agree to retract existing tariffs

Washington and Beijing agree to retract existing tariffs Washington and Beijing had both agreed to retract existing tariffs on each sides’ goods on Friday. Gao Feng, spokesperson for China’s Commerce Ministry said that “both sides should undo existing additional tariffs in the same proportion to reach phase one deal, and that is an important condition […]

Bank of England to retain interest rate level in pre-election meeting

The Bank of England signals to keep interest rates steady on Thursday as the snap election on Dec. 12 draws near. Governor Mark Carney though is not giving an explicit answer as to where interest rates are going in the next couple of weeks. “It’s all about nuance and emphasis,” Philip Shaw, Investec economist said. […]

TikTok denies ties with China, U.S. lawmakers unconvinced

Social media app TikTok reiterated its independence from China as stressed on its letter sent to the U.S. lawmakers but failed to convince Senator Josh Hawley who spearheaded the hearing session on Tuesday on the security of U.S. citizens’ personal data. ByteDance Ltd, which runs TikTok is a Chinese-based company that sent a letter to […]

Gold prices recover after a 2% fall as economic reports ease fears

Gold prices recover after a 2% fall as economic reports ease fears Gold prices recovered on Wednesday after a 2% fall in the previous sessions as traders embraced risk after the latest news in trade. U.S. Gold Futures went up 0.2% to $1.486.95 by 12:30 AM ET (04:30 GMT). Various news outlets reported within the […]

China woos Trump to remove tariffs through phase 1 trade deal

The “Phase One” of the U.S.-China trade deal has it that the Chinese government is pushing U.S. President Donald Trump to erase imposed tariffs in September. One of the highlights of the trade deal that will be signed by Chinese President Xi Jinping and Donald Trump is the inclusion of the White House’s abolishing tariffs […]

Japan’s  Rakuten expects a $947 million loss in U.S. Lyft investment in latest quarter

Japan’s Rakuten expects a $947 million loss in U.S. Lyft investment in latest quarter Japan’s Rakuten Inc. said on Tuesday that it would be expecting to take a 103 billion yen ($947 million) in losses in the latest quarter over its investment in U.S. ride-hailing firm, Lyft Inc. As of date, Rakuten is the biggest […]

Autos, mining gains drive European shares upsurge

European shares strongly began its weekly session on Monday as gains from automakers and miners fueled the upsurge while US-China trade talks brought optimism. The Pan-European STOXX 600 index soared at 0.5% reaching its highest index tally since January 2018. The United States and China disclosed that they made laudable progress primarily focusing on ending […]

Washington retracts duties from various Indonesian products

Washington retracts duties from various Indonesian products The United States has removed tariffs from various Indonesian products under a privileged trade facility. This is a part of the ongoing trade negotiations between the two countries, Indonesian officials said. In a report from the Indonesian trade ministry, the office of the United States Trade Representative (USTR) […]

Sino-U.S. Trade Hopes rally Asian stocks

Sino-U.S. Trade Hopes rally Asian stocks Asian stocks rallied on Monday’s morning trade as China and the U.S. seemed close to agreeing on a “phase one” trade deal. The Office of the U.S. Trade Representative (USTR) said on the weekend that Beijing and Washington were close to signing a partial trade deal. “They made headway […]

European shares dip as Brexit talks continue

European shares dip as Brexit talks continue European shares dipped on Wednesday as uncertainty over the outcome of London’s last-ditch Brexit talks with Brussels kept investors on the sidelines. Brexit negotiations will resume in Brussels on Wednesday morning after “constructive” discussions went into the night on Tuesday, a British spokesman said. Britain’s domestically-focused midcaps slipped […]

No-Deal Brexit could cost Ireland 73,000 jobs; central bank says

No-Deal Brexit could cost Ireland 73,000 jobs; central bank says A no-deal Brexit could cost Ireland more than 73,000 jobs over the next two years, the nation’s central bank said. According to the bank’s speculations, if the U.K. were to leave the European Union without an agreement, Ireland’s unemployment rate would rise to 5.8% in […]

Exxon Mobil to sell Malaysian offshore assets worth $3 billion; Bloomberg reports

Exxon Mobil to sell Malaysian offshore assets worth $3 billion; Bloomberg reports U.S. energy giant Exxon Mobil is considering a sale of its Malaysian offshore assets for up to $3 billion, Bloomberg reported on Wednesday. Exxon is said to be working with advisers on the potential sale which could raise about $2 billion to $3 […]

China-made smartphone now worth $4 Billion

China-made smartphone now worth $4 Billion Chinese smartphone maker Transsion has raised nearly $400 million in an IPO on China’s new, tech-focused stock market. On Wednesday the Shenzhen-based company said in a stock market filing that it sold 80 million in shares for 35.15 Yuan ($4.93) each, raising 2.81 billion Yuan ($395 million) The share […]

Monzo closes premium accounts to new customers

Monzo closes premium accounts to new customers Monzo, the digital bank, has closed its fee-charging premium subscription to new customers after five months of launch and is also offering refunds to those who signed up. Following criticism by customers, the app-based bank said that its Monzo Plus service wasn’t “the best it could be” and […]

Top investors warn markets might face risks over lax climate forecast

Top investors warn markets might face risks over lax climate forecast Financial markets risk major disruptions by relying on forecasts that underestimate the impact of climate-change policies that are expected to abruptly tighten the next decade, a leading group of investors had warned. The report made by the U.N.-backed Principles of Responsible Investing (PRI), representing […]

U.S., Chinese trade talks commence in Washington despite differences

U.S., Chinese trade talks commence in Washington despite differences U.S. and Chinese trade deputies were set to resume face-to-face trade talks on Thursday after the two of the world’s largest economies attempted to bridge deep policy differences and find a way out of a bitter and already-prolonged trade war. The negotiations scheduled for Thursday and […]

Cash spending overtaken by credit cards for the first time

Cash spending overtaken by credit cards for the first time Credit card spending has taken over cash for the first time, according to data from UK retailers, demoting notes and coins to the third most popular method of payment. The figures come from the British Retail Consortium (BRC) – whose members are responsible for £180bn […]

U.S.-China Trade Talks to commence on Thursday

U.S.-China Trade Talks to commence on Thursday Deputy-level U.S.-China Trade Talks are scheduled to commence in Washington on Thursday, U.S. Trade Representative’s (UTSR) office said, paving the way for high-level talks in October aimed to resolve a bitter, 14-month trade war. However, a UTSR spokesman had not offered any more details about the deputy-level talks. […]

France to block Facebook’s Libra in Europe

France to block Facebook’s Libra in EuropeFrance has said that it will block the development of Facebook’s cryptocurrency, the Libra in Europe, dealing a fresh blow to the cryptotrade industry. The French finance minister, Bruno Le Maire said that plans for Libra could not move ahead until concerns over consumer risk and the governments’ monetary […]

UK businesses unprepared for a no-deal Brexit; BCC warns

UK businesses unprepared for a no-deal Brexit; BCC warns The British Chambers of Commerce (BCC) warned that a “concerningly high number” of UK businesses were unprepared for a no-deal Brexit after a research showed that more than two-fifths of British companies had not conducted a Brexit risk assessment. Parliament moved closer to obstructing a no-deal […]

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