Business Archives - Page 3 of 114

Trump win triggered 2024 exit by overseas investors from Asian equities

Trump win triggered 2024 exit by overseas investors from Asian equities

Overseas investors turned net sellers of Asian equities in 2024, primarily due to a surge in selling in the last quarter amid concerns that US President-elect...

Business3 weeks ago

AMERICAS A JOLT of reality for markets

A look at the day ahead in US and global markets by Amanda Cooper. Trading action so far has been dominated by uncertainty over incoming US...

Shares muddled in Asia, Canadian dollar up on Trudeau reports

Business3 weeks ago

Shares muddled in Asia, Canadian dollar up on Trudeau reports

Share markets were mixed in Asia on Monday ahead of a week brimming with economic news that should underline the relative outperformance of the United States...

Oil prices slid on Monday amid a strong US dollar, concerns over sanctions and ahead of key economic data by the US Federal Reserve and US payrolls later in the week. Brent crude futures slid 21 cents, or 0.3%, to $76.3 a barrel by 0445 GMT after settling on Friday at its highest since Oct. 14. US West Texas Intermediate crude was down 19 cents, or 0.3%, at $73.77 a barrel after closing on Friday at its highest since Oct. 11. Oil posted five-session gains previously with hopes of rising demand following colder weather in the Northern Hemisphere and more fiscal stimulus by China to revitalise its faltering economy. However, the strength of the dollar is on investor's radar, Priyanka Sachdeva, a senior market analyst at Phillip Nova, wrote in a report on Monday. The dollar stayed close to a two-year peak on Monday, a stronger dollar makes it more expensive to buy the greenback-priced commodity and hence reins in pressure on oil. Investors are also awaiting economic news for more clues on the Federal Reserve's rate outlook and energy consumption. Minutes of the Fed's last meeting is due Wednesday and the December payrolls report will come on Friday. Also weighing on sentiment was supply disruptions of Iranian and Russian oil as Western countries ramped up their sanctions. The Biden administration plans to impose more sanctions on Russia over its war on Ukraine, taking aim at its oil revenues with action against tankers carrying Russian crude, two sources with knowledge of the matter said on Sunday. Goldman Sachs expects Iran's production and exports to fall by the second quarter as a result of expected policy changes and tighter sanctions from the administration of incoming US President Donald Trump. Output at the OPEC producer could drop by 300,000 barrels per day to 3.25 million bpd by second quarter, they said. The US oil rig count, an indicator of future output, fell by one to 482 last week, a weekly report from energy services firm Baker Hughes showed on Friday. Still, the global oil market is clouded by a supply surplus this year as a rise in non-OPEC supplies is projected by analysts to largely offset global demand increase, also with the possibility of more production in the US under Trump.

Business3 weeks ago

Oil eases from near three-month highs amid strong dollar ahead of economic data

Oil prices slid on Monday amid a strong US dollar, concerns over sanctions and ahead of key economic data by the US Federal Reserve and US...

Dollar rally pauses; yuan slides to 16-month low

Business3 weeks ago

Dollar rally pauses; yuan slides to 16-month low

The dollar eased on Monday but held close to a two-year peak, as traders awaited a raft of US economic data this week headlined by December’s...

Turkish inflation falls more than expected to 44pc

Business3 weeks ago

Turkish inflation falls more than expected to 44pc

Turkish inflation was lower than expected at 44.38% annually and 1.03% on a monthly basis in December, data showed on Friday, in a month in which...

China will sharply increase funding from treasury bonds to spur growth in 2025

Business3 weeks ago

China will sharply increase funding from treasury bonds to spur growth in 2025

China will sharply increase funding from ultra-long treasury bonds in 2025 to spur business investment and consumer-boosting initiatives, a state planner official said on Friday, as...

Wall Street opens 2025 with more modest losses

Business3 weeks ago

Wall Street opens 2025 with more modest losses

U.S. stock indexes slipped on Thursday as Wall Street’s weak end to last year carried into 2025. The S&P 500 fell 0.2% to extend the four-day...

Indonesia signs 15.6 mln kilolitres biodiesel allocation for 2025

Business3 weeks ago

Indonesia signs 15.6 mln kilolitres biodiesel allocation for 2025

Indonesia’s Energy and Mineral Resources Minister signed a decree on Friday allocating 15.6 million kilolitres (KL) of biodiesel for 2025 distribution while giving the industry until...