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US Consumer Confidence Declines As Predictions For Inflation Rise 04/14/2024

Hong Kong Is Expected To Approve Its First Spot Bitcoin ETFs In April – Reports 04/14/2024

Samsung regains leadership in global smartphone market in Q1 04/15/2024

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Economics

Coronavirus Forces EIU To Lower Global Growth Forecast For 2020

The new risks to the global economy that have cropped up because of the emergence of the novel coronavirus and its fast and severe outbreak in China has forced the global business intelligence firm the Economist Intelligence Unit to bring down its forecast for global growth for 2020 to 2.2 per cent...

Chinese Government Economist Says Country’s Long-Term GDP Growth Not To Be Affected By Virus Outbreak

Despite the deadly outbreak of the coronavirus, it would be possible for China to achieve its long-term goal of doubling gross domestic product and incomes this year, said an influential economist positioned at the top of a Chinese government think tank. Cai Fang, the vice head of the...

Trump tariffs affect US trade deficit

Last year, the deficit of US foreign trade in goods and services decreased for the first time in the last six years. In 2019, it amounted to $ 616.8 billion, which is $ 10 billion lower than the previous year. Exports for the year decreased by 0.1%, while imports - by 0.4%. The difference between...

SEC Commissioner proposes to introduce regulatory holidays for blockchain companies

Start-ups that attract financing through ICOs have to have three-years long holidays from regulation. Regulators are supposed to use this term to decide whether certain tokens belong to the category of securities. The companies will need to demonstrate that they are really creating open source...

China Reduces Tariffs On Certain US Goods By 50% Amidst Rising Virus Spread Concerns

Amidst the coronavirus scare and the death toll because of the virus rising, the Chinese government has announced reducing import tariffs on 1,717 goods from the United States by 50 per cent. The tariffs were introduced last year during the trade war with the US and they were lifted after the...

UK And EU Both Insist They Can Walk Away Without Any Deal

Both the United Kingdom and the European Union have said that they are willing to walk away without making any deal than to compromise on issues crucial for them with respect to a post Brexit deal which reflected the stance taken by both the parties about negotiations that are set to be opened...

Turkey's inflation accelerates for the third month in a row

Inflation in Turkey accelerated in January for the third month in a row, exceeding analysts' expectations. Consumer prices in Turkey rose 12.15% in annual terms in January after rising 11.8% in December 2019, according to the Turkish Statistical Institute. Analysts surveyed by Bloomberg on...

Developing economies slowing down in 2019

The American economy’s growth rate in 2019 compared to 2018 slowed significantly - to 2.3% from 2.9%. Separately, in the fourth quarter, US GDP growth amounted to 2.1%. At the same time, consumption growth slowed down to 1.8% from 3.2% in the third quarter, capital investment fell again - by 1.5%...

Coronavirus wipes off $420 billion from China’s stock market

The market selldown is despite apparent moves by regulators to curtail selling. Adding to investor worries is the economic impact of the coronavirus. On Monday, with fears over the coronavirus spreading in China, China’s benchmark stock index dropped sharply erasing $420 billion from the market....

Factory activity in Eurozone sees gradual recovery in January 2020

Green shoots are in sight for manufacturing activity in the Eurozone in January 2020 – IHS Markitt. According to the results of a survey conducted by IHS Markitt, although factory activity at the Eurozone contracted in January, it did so at its shallowest rate since mid-2019 thus suggesting that...