China suddenly added a new member to its negotiating team — the country’s commerce minister, Zhong Shan, who is seen as a hard-liner by many officials in Washington. “The U.S. side has provoked economic and trade frictions against us and violated the principles of the WTO. It is typical of unilateralism and protectionism. … We […] Read more
China could learn a lesson for its possible digital currency issuance from the Hong Kong monetary system that allows “commercial entities” to issue banknotes backed by their own private currency assets, former central bank governor Zhou Xiaochuan said. Zhou, who served as the governor of the People’s Bank of China (PBOC) for over 15 years […] Read more
According to global real estate consultant JLL, although the US-China trade war has cast a shadow over Hong Kong’s economy, the industrial property market continues to be a bright spot. Driven by expansion requirements from logistics companies, demand for industrial property remained largely intact in May with several large transactions being recorded. In the leasing […] Read more
President Donald Trump wouldn’t need to hear much from Chinese officials to at least strike a truce in the trade war between the two sides, a senior administration official told CNBC. Trump and Chinese President Xi Jinping are set to meet Saturday at the G-20 meeting in Osaka, Japan, with expectations running high that the […] Read more
St. Louis Fed President James Bullard wanted his fellow central bankers to approve an “insurance” rate cut at this week’s meeting as a guard against weaker growth and low inflation. In a statement Friday, Bullard explained his vote against the Federal Open Market Committee’s decision to leave its benchmark interest rate unchanged. He was the […] Read more
U.S. consumer prices increased in April, which could allow the Federal Reserve to keep interest rates unchanged for a while. Personal income rose 0.5% in the month after ticking up 0.1% in March. Savings increased to $990.3 billion in April from $963.7 billion in March. Personal consumption expenditures (PCE) index increased 0.3% last month after […] Read more
J.P. Morgan Chase CEO Jamie Dimon said that the escalating U.S.-China trade dispute is a “real issue” that could damage corporate confidence. “I think trade is a real issue,” Dimon said Tuesday in a conference in New York. “Trade has gone from being a skirmish to being far more important than that. If this goes […] Read more
The drop in earnings for men is the biggest challenge facing the economy, according to Stephen Moore, the man President Donald Trump has said he wants to nominate to the Federal Reserve board. Speaking Tuesday with CNBC’s “Squawk Box, ” Moore faced questions about past writings, some of which have been classified as sexist by […] Read more
According to Freddie Mac’s latest Primary Mortgage Market Survey, U.S. mortgage rates held steady in the first week of April 2019, after seeing major drops last week. Sam Khater, Freddie Mac’s chief economist, says, “Purchase mortgage application demand saw the second highest weekly increase over the last year and thanks to a spike in refinancing […] Read more
Riyadh: Saudi Arabia’s listed companies could see holdings by foreign investors rise to 10 per cent when shares are included in index providers MSCI and FTSE’s emerging markets indices, the chief executive of Tadawul said on Monday. Khalid Al Hussain said he expected equities on the Saudi bourse, Tadawul, to attract $5 billion (Dh18.35 billion) […] Read more
