Economy news

Despite the OPEC+ alliance's announcement of extended supply cuts, oil prices have plunged below $80 per barrel. The Ice Brent contract for August closed at $77.59, slightly up by 7 cents from Tuesday's close, while the Nymex WTI front-month contract...

First, Microsoft and Amazon announced major investments in Southeast Asia. Now, Google has committed $2 billion to establish its first data center and "cloud region" in Malaysia, aiming to bolster the country's digital infrastructure. This signi...

As the market anticipates the upcoming OPEC+ virtual meeting on Sunday to review production policy, U.S. crude oil prices have climbed more than 1%. OPEC+ members are currently withholding 2.2 million barrels per day from the market to support prices...

With less than six weeks until the UK General Election, analysts are eyeing the potential impact on the stock market, especially with polls suggesting a potential return of the center-left Labour Party after 14 years. Should Labour win, displacing th...

Seoul is implementing reforms to address the 'Korea discount,' which has long depressed the valuations of its companies. Now, a growing number of Koreans, many young, are investing in stocks.From 2022 to 2023, Korea’s stock market capitalization rose...

Generative AI's growing popularity is creating significant energy challenges. AI systems powered by large language models (LLMs) are incredibly energy-intensive and require substantial computational resources. A recent study indicates that gener...

China's ongoing property crisis, which began in 2021, has prompted significant interventions by Chinese authorities to stabilize the sector and mitigate its impacts on the world's second-largest economy. The People's Bank of China (PBOC) announc...

Copper prices are approaching record highs as demand driven by renewable energy, electric vehicles, and artificial intelligence continues to grow. Year-to-date, copper prices have surged by 29%, with futures reaching $5 per pound as of May 15, the hi...

The Bank of England (BOE) is cautiously preparing for a summer interest rate cut, anticipated as early as June, though more likely by August or September, as signs point towards an easing inflationary trend. Currently, interest rates stand at 5....

Since assuming office five months ago, Argentina's President Javier Milei, a right-wing economist with a TV pundit background, has implemented severe austerity measures to reverse the country's financial decline marked by excessive government spendin...

European Union (EU) leaders, including Commission President Ursula von der Leyen, advocate for fairer trade relations with China, emphasizing the need to address current market access imbalances. During a significant meeting in Paris with Chines...

Spain's Deoleo, the largest producer of olive oil globally, and the owner of renowned brands like Bertolli and Carbonell, is facing a complex operating landscape shaped by climate change, rising prices, higher interest rates, and robust inflation whi...

In a move to support civil servants amidst economic fluctuations, Malaysian Prime Minister Anwar Ibrahim has introduced a substantial pay raise of over 13%, a historical high, which will be effective from December. This announcement comes as Mal...

In a significant development in China's smartphone market, Huawei is rapidly regaining its position and is now close to overtaking Apple in its home market. In Q1, Huawei witnessed an impressive 70% surge in smartphone sales, while Apple faced a...

Christine Lagarde, President of the European Central Bank (ECB), has said that the ECB may reduce interest rates regardless of the US Federal Reserve's actions. She made these comments during a discussion at the International Monetary Fund's spring m...