Oil prices surged by over 3% following Israel’s strike on Iran, raising concerns about a potential escalation of conflict in the Middle East. The attack, carried out in the early hours of Friday morning, triggered a spike in oil prices as market participants assessed the impact of the strike on oil supply and regional stability.
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China has expressed its firm opposition to the U.S. investigation into its maritime, logistics, and shipbuilding industries. The Chinese Ministry of Commerce referred to the move as a “mistake on top of a mistake.” According to the ministry, the U.S. provides discriminatory subsidies to its domestic industries worth hundreds of billions of dollars, yet accuses
Singapore’s non-oil domestic exports experienced a significant drop of 20.7% in March compared to the previous year. This sharp decline came as a surprise to economists, who had anticipated a much smaller fall of 7%. The decrease of 20.7% marks the largest drop in non-oil domestic exports for Singapore since January 2023. This unexpected downturn
Recently, Federal Reserve Chair Jerome Powell made comments regarding the potential need for higher interest rates in order to combat inflation. Powell noted that while there has been solid growth in the economy and strength in the labor market, progress in bringing down price growth has been limited. This lack of progress towards the 2%
The Asia-Pacific markets experienced a decline on Monday following Iran’s massive drone and missile attacks on Israel. The attack, which involved more than 300 drones and missiles, was described by President Joe Biden as “unprecedented.” The U.S. intervened to assist Israel in intercepting most of the incoming munitions. In light of these events, traders are
The recent escalation of tensions between Iran and Israel has sparked concerns of a potential regional conflict. The attacks launched by Iran have put the region on edge, with fears of further hostilities escalating into a full-scale war. The involvement of the United States and other international leaders adds another layer of complexity to an
The commander-in-chief of Ukraine’s armed forces, Oleksandr Syrskyi, issued a dire warning about the deteriorating battlefield situation in eastern Ukraine. He highlighted the significant escalation of enemy offensive actions following the recent presidential elections in Russia. The warm, dry weather has provided favorable conditions for Russian forces to attack Ukrainian positions in the Lyman and
After a recent selloff driven by inflation concerns, Asia-Pacific markets are gearing up for a potential rebound. One key factor to watch will be the trade numbers for China, set to be released later in the day. Economists are forecasting a 2.3% year-on-year drop in exports, following a disappointing inflation report from the country. In
The commercial property sector in China is experiencing a surge in demand despite an overall slump in the real estate market. Specifically, the capital city of Beijing is witnessing a notable increase in rents for prime retail locations, marking the fastest pace since 2019, as reported by property consultancy JLL. The data reveals that rents
China is facing a challenging economic situation that is deeply impacting business and consumer sentiment. The question of whether home prices will continue to drop or start to rise is a key factor influencing economic activity in the country. Analysts like Richard Koo are warning that China may be heading towards a “balance sheet recession,”