Economics
Argentina Defaults On Debt, Negotiations With Creditors For Debt Restructuring Ongoing
Crisis hit South American economy of Argentina defaulted on payments on about $500 million of bonds coupons on Friday, whose payments had already been delayed. According to reports from creditors and a ratings agency, this is the ninth sovereign debt default by the country. The country has...
Economic Growth Target Not Announced By China For First Time In Three Decades
For the first time in three decades, the Chinese government has skipped setting that goal in its annual projections and plans as the country’s Premier Li Keqiang did not announce an economic growth target for this year. The government expected its annual budget deficit for 2020 to rise to...
‘Taking Advantage Of Long-Term Rates’: Mnuchin
The U.S. won’t be buying back debt but could borrow long-term money. Steven Mnuchin, the “Treasury Secretary” of the U.S. doesn’t see the country buying back debt while his plan is to borrow long-term money so as to “lock in low interest rates” while the uncertainty of COVID-19 pandemic sways the...
IEA Predicts Drop In Global Green Energy Growth For The First Time In Two Decades
According to the predictions of the International Energy Agency, there will be an annual decline in the growth in new renewable energy capacity globally for the current year of 2020 which will be the first for the energy segment in the last 20 years. According to the report, there...
UK places government bonds with negative yield
On Wednesday, the UK placed government bonds maturing in July 2023 in the amount of 3.8 billion pounds ($ 4.66 billion). The weighted average yield of bonds during the auction held by the British Debt Management Office (DBO) amounted to minus 0.003% per annum. Thus, UK government bonds were first...
Global Economy Not To Recover As Soon As Was Previously Expected: IMF
According to the head of the Managing Director of the International Monetary Fund,m Kristalina Georgieva, a much longer time period than previously expected for a complete recovery of the global economy from the recession induced by the outbreak of the novel coronavirus pandemic will be required....
Japanese Economy Has Entered A Technical Recession With Worse Expected
The coronavirus pandemic has pushed the Japanese economy into a recession and analysts predict that things are going to get worse for the economy. According to government data released Monday, in the January to March quarter, there was a 0.9 per cent shrinking of the third largest...
US to cut shale oil production by 2.5% in June - EIA
Shale oil production in the largest oil and gas producing regions of the United States in June will decrease compared with May by 197 thousand barrels per day, or 2.5%, to 7.822 million barrels per day, according to the Energy Information Administration (EIA) of the country's energy ministry. The...
Trump Issues Fresh Threats Of Taxes On US Firms That Manufacture Abroad
A fresh threat of imposing new taxes on American companies that manufacture goods outside of the United States was issued by the US president Donald Trump on Thursday which, according to analysts, was another possible move by the US administration to woo away supply chains that are based in China...
FedEx limits number of parcels from retailers due to COVID-19
American FedEx Corp, one of the world's largest transport and logistics companies, has limited the number of packages that Kohl's Corp and about twenty other retailers can send from stores, in an attempt to reduce the load on its network during the coronavirus pandemic, reports The Wall Street...
