Daily Management Review
Economics

Fitch affirms Hong Kong's rating

Hong Kong's long-term foreign currency Issuer Default Rating (IDR) has been affirmed at "AA-" by international rating agency Fitch Ratings, with a stable outlook. Large financial reserves, strong external finance, and a high per capita income strengthen Hong Kong's ratings, according to the agency....

Mexico's Annual Inflation Rate Is At A 21-Year High, And More Rate Hikes Expected

Consumer prices in Mexico climbed 7.45 percent in the year to March, the highest level since early 2001 and more than double the central bank's target, according to data released on Thursday by the INEGI national statistics office, implying that more interest rate hikes are expected.  ...

German industrial production rises better than forecast in February

Germany's seasonally adjusted industrial output rose 0.2% in February compared to the previous month after a 1.4% growth in January (the figure was revised from 2.7% earlier), according to the country's Ministry of Economics and Technology. Analysts polled by DailyFX expected industrial production...

Oil Prices Are Rising As New Russian Penalties Overcome Concerns About Demand

Oil futures climbed on Wednesday, reversing early losses, as the potential of fresh penalties against Russia stoked supply concerns, contrasting concerns about weaker demand as a result of a rise in US oil stockpiles and Shanghai's extended lockdown.   Brent oil futures were trading at...

Omicron Surge In China Leaves Negative Impact On Its Services Sector Activity: Caixin PMI.

According to a private sector survey released on Wednesday, activity in China's services industry dropped at the fastest rate in two years in March, as a surge in coronavirus cases hindered mobility and weighed on demand.   In March, the Caixin services Purchasing Managers' Index (PMI) fell...

Volkswagen will cut production of mass models

Volkswagen Group to reduce its lineup of gasoline and diesel cars. Volkswagen Group will focus on luxury cars as part of its plan, according to the Financial Times, citing the company's CFO Arno Antlitz. "By the end of the decade, Volkswagen will phase out a dozen models with internal combustion...

The NFT Bubble Is Apparently Experiencing The Shrinking Feeling

This strange and chaotic market is showing symptoms of slowing down a year after a single non-fungible token sold for $69.3 million in crypto at Christie's auction house, with the buyer paying to be recorded on blockchain as the owner of a digital file that anybody can access online for free....

Repercussions Of Russia-Ukraine Conflict Is Already Wreaking Havoc On Vulnerable 'Frontier' Economies

The fallout from the Russia-Ukraine conflict has just pushed two of the world's poorest countries into full-fledged crises, and the list of those at risk - and the line at the IMF's door - will only grow longer from here.   They may be far removed from the war in Ukraine, but the mass...

Saudi Aramco raises May oil prices for European and U.S. customers

Saudi Arabia's state-owned oil and gas company raised May selling prices for oil to customers in Europe and the United States. The report notes that Saudi Aramco has set the official selling price of Arab Light oil for May for Europe at three dollars higher than in April, the premium to Brent grade...

Starbucks shares lose 5% after buyback

Starbucks' founder, Howard Schultz, has stated that the company's share repurchase program, which began last year, will be suspended. Following Kevin Johnson's resignation, Mr. Schultz has been appointed as the company's interim CEO. Mr. Schultz announced the repurchase program's suspension right...
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