WASHINGTON (REUTERS) – The Biden administration’s push for a coordinated release of oil stockpiles serves as a warning to the Opec+ production group that it should pump more oil to address concerns of high fuel prices in powerhouse economies like
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Interest rates unlikely to spike any time soon: Blackstone exec
SINGAPORE – While central banks are moving towards a tightening bias, they will not do so in a manner which will see interest rates spike and put economies at risk. Mr Dwight Scott, global head of credit markets at Blackstone,
In Colorados tight labor market, even Santa Claus is a potential no-show
You know the job market is tight when you worry that Santa Claus might not show up for his holiday gigs. Tom Hill, part of the team that manages the Georgetown Loop Railroad, has been juggling employees and operations all
Singapore central bank chief hopes Hong Kong, China will open up
SINGAPORE (BLOOMBERG) – Singapore’s central bank chief would like Hong Kong and China to open up quicker and more decisively over the next year as their strict border restrictions may impact business ties between the key Asian financial hubs. “I
US firms with Hong Kong headquarters hit 18-year low
HONG KONG (BLOOMBERG) – The number of American companies with regional headquarters in Hong Kong has fallen to an 18-year low, bolstering arguments that the city’s national security campaign and Covid Zero strategy are eroding its appeal as a global
Singapore manufacturing confidence dips even as services sector hopes lift
SINGAPORE (THE BUSINESS TIMES) – Business optimism among local firms remained positive into the final stretch of 2021, although manufacturers’ optimism has receded quarter on quarter, even as firms in the services sector took a rosier outlook. A net weighted
China industrial profit growth accelerates in September despite cost pressures
BEIJING (REUTERS) – Profits at China’s industrial firms rose at a faster pace last month even as surging raw material prices and supply bottlenecks squeezed margins and weighed on factory activity. Profits jumped 16.3 per cent on year to 738.74
RPT-ANALYSIS-Bond traders testing Australia's cenbank over rate hike timing
(Repeats story published late on Friday with no changes to text) * Market pricing wildly at odds with RBA rhetoric * Traders see hikes in 2022; RBA no sooner than 2024 * RBA intervenes in bond mkt, but doubts remain
China home sales plunge as Evergrande crisis deters buyers
BEIJING (BLOOMBERG) – China’s residential property slump dragged on last month as the debt crisis at China Evergrande Group spread to other developers, keeping buyers away. Home sales by value tumbled 16.9 per cent last month from a year earlier,
China set to slash fuel exports as power crisis spurs domestic use
BEIJING (BLOOMBERG) – China, Asia’s biggest oil refiner by capacity, is set to slash fuel exports as it keeps more supplies for domestic use amid a power crisis stemming from coal shortages. Outflows of oil products such as diesel and