Consumer price inflation in Germany eased faster than expected in October to reach its lowest level in over two years, thanks to falling energy prices, preliminary data from the statistical office Destatis showed Monday, and the easing price pressures validate the latest “pause” in the interest rate hikes by the European Central Bank. The consumer price index, or CPI, rose […]

The United States has announced an additional security assistance package worth $150 million to help Ukraine counter Russia’s ongoing attacks. This is the first tranche of U.S. military aid for Ukraine since President Joe Biden requested Congress to approve a supplemental funding to ensure Washington’s continued support to its allies, mainly Israel and Ukraine. The latest U.S. military aid, announced […]

Information technology (IT) and IT-enabled consulting firms lead the adoption of the National Pension System (NPS) in the private sector under the corporate model of the scheme, according to the latest data available until September 2023 from the Pension Fund Regulatory and Development Authority (PFRDA), as accessed by Business Standard. Data pertaining to the top 50 companies, which represents more […]

Asian stocks rebounded on Friday following a recent string of losses on Middle East worries and uncertainty over the Federal Reserve’s interest rate path. Tech stocks led regional gains on the back of robust U.S. economic data released overnight and reports of a delay in the Israeli ground invasion of Gaza. The dollar steadied and gold ticked higher ahead of […]

A slew of U.S. economic data, including weekly jobless claims, durable goods orders, third quarter GDP as well as reports and pending home sales. Early signs from the U.S. Futures Index suggest that Wall Street might open lower. Asian shares finished lower, while European shares are trading down. IBM Corp. (IBM) and Facebook parent Meta Platforms (META) might report earnings […]

The Philippine central bank took an off-cycle monetary policy action on Thursday as it raised its key interest rate to anchor inflation expectations and to provide support to the currency. The board of Bangko Sentral Ng Pilipinas, governed by Eli Remolona, decided to hike the target reverse repurchase rate by 25 basis points to 6.50 percent. Accordingly, the interest rates […]

‘The global situation is not very good.’ The finance ministry’s expenditure management will take into account crises that may arise due to the Israel-Hamas conflict, a senior government official said. This will enable the ministry to reprioritise spending. “We have to be intelligent in planning expenditure as the global situation is not very good,” the official said. The ministry’s monthly […]

The European Union is better prepared to ensure its energy security ahead of the winter season, the State of the Energy Union Report 2023 says. The 27-nation bloc’s gas storage facilities were filled to 95 percent of capacity ahead of the winter of 2022-2023 and currently stand at more than 98 percent full today. The EU Energy Platform organised three […]

Global equities remained under pressure from rising bond yields, concerns over the outlook for interest rates and an escalating conflict in the Middle East. Asian stock markets are also trading mostly lower, following the broadly negative cues from global markets on Friday, with the US Fed signaling rates will remain higher for longer than previously anticipated. Asian markets closed mostly […]

The Labor Department released a report on Thursday showing first-time claims for unemployment benefits in the U.S. unexpectedly declined to a nearly nine-month low in the week ended October 14th. The report said initial jobless claims fell to 198,000, a decrease of 13,000 from the previous week’s revised level of 211,000. Economists had expected jobless claims to inch up to […]