Oil Prices Move Little in Anticipation Of More China Cues
Oil prices kept to a tight range on Monday amid persistent concerns over high inflation and rising U.S. interest rates, while traders awaited more cues on demand from key Chinese economic readings this week. Readings on China’s Purchasing Mangers' Index (PMI) for February are...
Dollar Edges Lower; Chinese Growth Data Boosts Risk Sentiment
The U.S. dollar slipped lower in early European trade Tuesday, handing back some of the overnight gains as healthy Chinese growth data boosted risk sentiment. At 02:05 ET (06:05 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies,...
Dollar Subdued Ahead of Fed Decision; Sterling Rise on CPI jump
The U.S. dollar traded near five-week lows in early European trade Wednesday ahead of the latest Federal Reserve interest rate decision, while surprisingly strong U.K. inflation data lifted the pound. At 03:55 ET (07:55 GMT), the Dollar Index, which tracks the greenback against a...
Toshiba Cuts Full-Year Profit Estimate, COO Resigns
Japan's Toshiba (OTC:TOSYY) Corp on Tuesday reported an 87.5% drop in third-quarter operating profit and cut its full-year earnings estimate for a second time. It also said Chief Operating Officer Goro Yanase had resigned over the inappropriate use of entertainment expenses in 2019 when...
Hajj and Eid al-Adha 2024
Dates and Significance
This year, based on moon sighting, Hajj will start on June 14, and Eid al-Adha will be celebrated on June 16. Hajj, one of the largest annual Muslim gatherings, takes place in Mecca from the 8th to the 10th of Dhul-Hijjah, the...
Asian Stocks Skittish After The Fed, Chinese Markets Reopen Stronger
Most Asian stock markets kept to a tight range on Thursday as investors mulled over rising interest rates and a worsening economic outlook, although strong holiday spending figures from China supported local shares. China’s Shanghai Composite index rose 0.6%, while losses in the Shanghai...
Shell, Chevron And Petrobras Weigh Guyana Oil Auction Bids -Sources
Guyana's coming auction of offshore oil exploration blocks has lured at least 10 companies including Shell (LON:RDSa), Petrobras and Chevron , to consider the decade's hottest oil region, people close to the matter said. The South American country is offering 14 offshore blocks, a...
Asia FX Surges, Dollar Sinks on Fed’s ‘Dovish Hike’
Most Asian currencies rose sharply on Thursday, while the dollar fell to a seven-week low after the Federal Reserve raised interest rates but hinted at a potential pause in its tightening cycle, although rates are likely to remain higher for longer. China’s yuan surged...
Merck KGaA Expects 2023 Profit to Slip As COVID Demand Wanes
Germany's Merck KGaA on Thursday predicted 2023 earnings would slip due to a decline at its electronic chemicals unit and a drop in COVID-related demand for its lab supplies from drug and vaccine makers. For 2023 earnings before interest, taxes, depreciation and amortisation (EBITDA),...
Soils of War: The Toxic Legacy For Ukraine’s Breadbasket
When Ukraine recaptured Kherson in November, Andrii Povod returned to find his grain farm in ruins. Two tractors were missing, most of the wheat was gone and all 11 buildings used to store crops and machinery had been bombed and burned. The farm bears...