Daily Management Review
Economics

Bitcoin Drops Below $30,000 With Expansion Of Chinese Crackdown On Crypto

Following a deeper and expanded crackdown on cryptocurrencies by China’s central bank, the value of bitcoin dropped below $30,000 for the first time since January.   Bitcoin, the largest cryptocurrency of the world slumped to $29,332 which was the lowest for the value since January 27 as the...

Australia to complain to WTO over China's tariffs

Australia will file a complaint with the World Trade Organisation (WTO) to launch a dispute resolution process with China over its imposition of anti-dumping duties on Australian wine, Australian Trade Minister Dan Tehan said. "Australia will protect the interests of Australian wine producers by...

New Scheme For Fighting Climate Change Announced By BOJ While Retaining Steady Policy

In a surprising move, the Bank of Japan unveiled a plan aimed at boosting the funding for fighting climate change. This move underscores the importance that central banks accord to the issue of climate change.   While also maintaining its huge stimulus to supporting Japan’s economic recovery...

US Fed gets ready for high inflation

The US Federal Reserve (Fed) left its key rate at 0-0.25% p.a. at the end of the June meeting. The regulator also refrained from any changes to asset purchases, but pointed to lower pandemic-related risks due to the spread of vaccination. The US Federal Open Market Committee again refrained from...

US IPO stock market results break 2020 record

Initial public offerings (IPOs) show no signs of going down. In over than 6 months to the end of 2021, US IPOs have already reached $171bn, up $3bn from last year's record IPO figures, Reuters reported, citing Dealogic data. Driving IPO growth are high corporate valuations in the stock market due...

Chinese Factory Output In May Misses Market Expectations

Disruptions caused by the Covid-19 pandemic outbreaks in China’s southern export powerhouse of Guangdong likely weighed down on the growth in factory output of the country in May as it slowed down for the third straight month.   Even though growth in retail sales and investment was lower...

Conflict over oil extraction erupts in Norway

Norway, which positions itself as a progressive and environmentally friendly country, is Western Europe's largest producer of oil and gas. The electric car capital of the world (per capita) produces more oil than Saudi Arabia or Russia. This controversy has sparked a conflict between political...

Japan's May Exports Likely Saw Largest Monthly Growth Since 1980

According to a Reuters poll, the exports of Japan in May likely increased at the largest monthly pace in four decades. However the increased numbers are largely reflective of the rebound of exports compared to the very low levels for the same month last year when international trade was ravages by...

GDP in G20 region is back to pre-crisis levels

GDP of the G20 region returned to its pre-pandemic level in the first quarter of 2021, according to the Organisation for Economic Co-operation and Development (OECD). The widespread lockdowns that countries began imposing last year to fight the spread of COVID-19 caused serious economic problems,...

Wholesale Prices In Japan Rise At Fastest Pace In 13 Years In May

Wholesale prices in Japan surged at their fastest annual pace in 13 years which underlined the rising commodity costs, showed data released on Thursday. This also reflected how global inflationary pressures are impacting companies that are already struggling to cope up with the Covid-19 pandemic...
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