Daily Management Review
Economics

Fitch updates global economic outlook: Growth will compensate for decline

The updated global macro forecast of the Fitch rating agency suggests that already in 2021, global growth will generally compensate for the current decline due to the COVID-19 epidemic. However, despite the improvement in general estimates against the background of a faster economic recovery from...

UK Can Walk Away From Brexit Talks If No Deal By Oct 15, Says Boris Johnson

Britain could walk away from the Brexit talks within weeks, warned British Prime Minister Boris Johnson on Sunday and insisted that a no-deal Brexit would be a "good outcome for the U.K.". These comments came just prior to a crucial round of talks between Britain and the European Union on Britain’s...

China's exports grow as imports fall down

Exports from China to other countries in August rose 9.5% on an annualized basis after growing by 7.2% in July, according to data from Chinese customs. China's imports in August fell due to a drop in world prices for raw materials. As they recover, this figure, according to experts, will return to...

Global Oil Market Caught In No Major Slowdown But Stalled Recovery Says IEA

There is likely not going to be any major slowdown in the global economy because of the novel coronavirus pandemic but the chance of oil market’s recovery is clouded by the  piled-up storage and uncertainty over China’s oil demand, believes the International Energy Agency (IEA) as stated by an...

To Shift Supply China From China, 'Like-Minded' Democracies Sought By US And Taiwan

With the United States looking to reduce its economic reliance on China and to shift away global supply chains from China, the US along with Taiwan are looking out for "like-minded" democracies to join the effort of the shift of supply chains whose vulnerability due to placement in China was...

Climate Change Is Bigger Economic Risk Than COVID-19 Pandemic

The European Central Bank cannot ignore climate risks even though it may appear to be “unrelated to monetary policy”. Isabel Schnabel, a board member of the European Central Bank, said that the COVID-19 pandemic is clear example indicating the need for the central banks to come forward and take up...

China buys record batch of US oil

China is preparing to purchase a record-breaking batch of American oil. As of September, Chinese companies have chartered 19 tankers with a total capacity of 37 million barrels for deliveries from the United States, Bloomberg reports. As a result, China will account for between a third and a half...

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...
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