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SpaceX Market Debut Creates First Trillionaire and Redefines the Scale of Modern Wealth 06/14/2026

Ceasefire Framework Between Iran-US Shifts Focus From Conflict to Economic Recovery 06/15/2026

Falling Energy Risks Fuel Global Market Rally as Iran Deal Eases Inflation Fears 06/15/2026

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Economics

Germany Is Likely To Revise Its GDP Forecast Upward For 2020

The largest European economy an “austerity champion” is likely to become “one of the biggest spenders” to join in the zone’s effort of rebounding from the pandemic. The government of Germany has decided to increase its growth forecast figures for 2020 in a revised version whereby showing a “decline...

Pandemic Effect: Chinese Banks To Report The First First-Half Profit Fall In Over A Decade

An increase in bad debt and higher loan-loss provisions because of the novel coronavirus pandemic will potentially result in some of China’s largest banks to post their first decline in first-half profits since the global financial crisis, according to official data from China. The...

July Consumer Spending In US Notes Better Than Expected Rise But Future Outlook Uncertain

Expectations of a sharp revival of the economy were boosted in the United States with a more than expected consumer spending in the country in July. Analysts however say that the new found momentum in the economy could be lost because of the lingering novel coronavirus pandemic and the stimulus...

Views On Exports Raised By Japan But Cautions Of Persisting Severe Economic Situation

With slow improvement of demand around the globe, the Japanese government upgraded its view on exports and output for the month of August which is a second straight month of such an upgrade. Authorities have however cautioned that global and national economic conditions are still severe because of...

Profit of large Chinese industrial enterprises decreases by 8.1% in January-July 2020

Profits for large industrial enterprises in China for the first seven months of 2020 were 3.1 trillion yuan (about $ 450.26 billion), down 8.1% from the same period in 2019, data from the State Statistics Office showed Monday. Revenues for Chinese extractive industries declined 41.6% over the...

Former IMF China Head Says Economic Decoupling Of US And China ‘A Long Way Away’

According to Eswar Prasad, previously head of the International Monetary Fund’s China division, while achieving an economic decoupling of the United States and China is “a long way away”, it can be appealing for China to be able to move away from a US-centric system. “These two economies...

Global Markets Rise Over Joint Commitment By US And China To Stick To Partial Trade Deal

Global financial markets were boosted with good news emerging from a trade deal meeting between the United States and China as top officials of both the countries reaffirmed their commitment to a Phase 1 trade deal despite Chinese procurement of American goods was slower than expected according to...

Alibaba's fintech division files IPO application on Hong Kong and Shanghai exchanges

Fintech company Ant Group, a division of Chinese internet company Alibaba, has applied for a simultaneous initial public offering (IPO) on the Hong Kong and Shanghai exchanges, according to documents listed on the Hong Kong stock exchange. In the leaflet, the company did not disclose the size of...

Buyers From Hong Kong Significantly Increase Purchase Of UK Properties After Security Law

A significant number of residents of Hong Kong are preparing to move to Britain. But many have been stalled their plans because of rising home prices there. According to latest reports, there has been an appreciation of 15 per cent in prices since April. Hong Kong residents are concerned...

Iraq sets to produce 7 million barrels of oil per day by 2025

Iraq will be able to increase oil production to 7 million barrels a day by 2025, the country's oil minister Ihsan Abdul Jabbar said on Sunday. "We are now capable of producing 5 million barrels per day. We can reach a production level of 7 million barrels per day by 2025," the INA agency quoted the...