The news of Israel’s military strike on Iran sent shockwaves through the global oil market, resulting in a more than 3% increase in oil prices. The limited military strike conducted by Israel has raised concerns about the potential for a broader war in the Middle East. The strike, which took place in the early hours
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China strongly opposes the U.S. investigation into its maritime, logistics, and shipbuilding industries, calling it a “mistake on top of a mistake.” The Chinese ministry of commerce argued that the U.S. provides discriminatory subsidies to its domestic industries amounting to hundreds of billions of dollars, while accusing China of adopting unfair ‘non-market practices’. The Chinese
Singapore’s non-oil domestic exports took a significant hit in March, with a sharp decline of 20.7% compared to the previous year. This steep fall, far exceeding the expectations of economists, marks the largest drop in non-oil domestic exports since January 2023. The slump was primarily attributed to decreases in both electronics and non-electronics exports, particularly
Federal Reserve Chair Jerome Powell recently expressed his concerns about the battle against inflation during a panel discussion. Powell mentioned that there has been little progress in bringing down price growth this year, indicating that interest rates may need to remain higher for a longer period. Despite solid growth and strength in the labor market,
The Asia-Pacific markets experienced a slight slip on Monday as traders grappled with the aftermath of Iran’s massive drone and missile attacks on Israel over the weekend. The attack, involving more than 300 drones and missiles, was described by President Joe Biden as “unprecedented.” Despite the gravity of the situation, the U.S. intervened to assist
Recent events have seen a dangerous escalation in tensions between Iran and Israel, as Iran launched attacks against Israel, according to U.S. officials. The National Security Council spokesperson, Adrienne Watson, made a statement confirming the airborne attack on Israel, leading to heightened concerns of a potential regional war. The United States has pledged its support
The top military general in Ukraine issued a stark warning on Saturday, highlighting the deteriorating situation on the eastern front of the country. Oleksandr Syrskyi, commander-in-chief of Ukraine’s armed forces, voiced his concerns about the intensification of enemy offensive actions following the recent presidential elections in Russia. According to General Syrskyi, Russian forces have been
Following a recent selloff driven by inflation concerns, Asia-Pacific markets are gearing up for a potential rebound. Investors are eagerly awaiting the release of a fresh batch of economic data from the region, including China’s trade numbers for March. Analysts predict a 2.3% year-on-year decline in exports, based on a Reuters poll. This comes on
China’s commercial property sector is experiencing a unique phenomenon as rents for prime retail locations in the capital city of Beijing are on the rise, marking the fastest pace of increase since 2019. According to a report by property consultancy JLL, rents soared by 1.3% in the first quarter of this year compared to the
China’s economic activity is currently at a tepid stage, with business and consumer appetite for new loans showing a slow start to the year. According to Richard Koo, chief economist at Nomura Research Institute, in order for economic activity to pick up, China needs to convince people that home prices are on their way up.