U.S. carmaker General Motors made the decision to discontinue the iconic Holden brand. On Sunday, the Detroit automaker announced that it would gradually close its sales, design and engineering operation Australia and New Zealand. Moreover, it will discontinue its Holden brand by 2021. Interestingly, the Holden brand dates back to the 19th century. Moreover, General …
The world’s third-largest economy is struggling to deal with problems. On Monday, the government released the information connected with Japan’s economy. According to the data, the country’s gross domestic product (GDP) fell by an annualized 6.3% in the October-December period. This result surpassed expectations. Moreover, there is a risk that the local economy will suffer …
Japan’s GDP Fell to the Lowest Level in Almost Six Years Read More »
China has the world’s second-largest economy in the world after the U.S. Moreover, it is one of the major oil consumers. As a result, the state of China’s economy directly affects global oil demand. Ongoing coronavirus outbreak and restrictions imposed by the Chinese officials will have a dramatic impact on the oil demand. The International …
Southeast Asia’s third-largest economy grew by 3.6% in the fourth quarter of 2019. As a result, Malaysia’s economic growth fell to the lowest point in 10 years. Bank Negara Malaysia (BNM) is ready to tackle this problem. Bank’s Governor Nor Shamsiah Mohd Yunus stated that bank the opportunity to adjust interest rates. According to the …
U.S. and China relations are far from being ideal. The prolonged trade war between the largest economies in the world created many issues for the global economy. In January, the U.S. and China signed the Phase 1 trade deal. However, it won’t be enough to solve all the problems. The relations between the U.S. and …
Coronavirus Outbreak Will Affect U.S.-China Trade Relations Read More »
The U.K. decided to leave the European Union as a result of a referendum that dates back to 2016. It took a lot of time to finalize all the details. Finally, on January 31, the U.K. left the EU. However, this decision will have a long-lasting effect not only on the EU’s economy but on …
The influence of Post-Brexit Border Checks on the Economy Read More »
Puerto Rico is part of the U.S. since the 19th century. On Sunday, the federally appointed oversight board in charge of Puerto Rico’s debt restructuring made an announcement. The board was able to reach an agreement with bondholders of around $35 billion. This is a lot of money as it accounts for nearly 50% of …
The U.S. trade deficit declined for the first time in years. On Wednesday, the U.S. Commerce Department released the report. According to this report, the U.S. trade deficit fell by 1.7% to $616.8 billion in 2019. This is a very important result for the U.S. economy. It means that the trade deficit fell for the …
U.S. Trade Deficit Fell to Lowest Point Since 2013 Read More »
Shipping companies are struggling to cope with the coronavirus outbreak, as they have to adapt to the new reality. Companies that carry goods from China are reducing the number of seaborne vessels to contain the spread of the virus. As a result, such a decision may disrupt global supply chains. It is worth mentioning that …
The Influence of Coronavirus on the Shipping Companies Read More »
Africa’s second-most populous country was one of the poorest countries at the beginning of the 21st century. In 2000, it was the third poorest country in the world. Ethiopia’s annual GDP per capita was about $620 in 2011 dollars. Moreover, more than half of the population lived below the global poverty line. It was the …
Hong Kong is one of the main major financial hubs in the world. However, violent protests, as well as protracted trade war, affected the local economy. The result was the first recession for the first time in a decade in 2019. Moreover, the coronavirus outbreak is another serious challenge for the economy. On Monday, officials …
Hong Kong’s economy and the Risk of Coronavirus Outbreak Read More »
On Monday, Chinese officials released the information. According to the information prepared by the National Bureau of Statistics, industrial profits fell 3.3% on an annual basis to 6.1996 trillion yuan ($897.96 billion) in 2019. For example, in the January-November period, profits declined 2.1.%. It is important to mention that it was the first full-year decline …
China’s Industrial Profits Fell For the First Time in Years Read More »
The U.S. economy grew 2.1% in the fourth quarter of 2019, according to the initial estimate released by the Commerce Department on Thursday. Moreover, economic growth fell to the lowest point in 2019 in comparison with previous years. For example, in 2018, the economy grew 2.9%, while in 2017, the U.S. economy rose 2.4%. Thus, …
Oil and gas companies are working to reduce greenhouse emissions. One of the major factors why the companies are willing to work harder to deal with such problems is the pressure from the investors. Several oil and gas giants such as Shell, Total and Repsol are the leading companies when it comes to green transformation. …
The world’s one of the largest carmakers plans to change the business model it inherited from the previous CEO. Nissan will eliminate at least 4,300 white-collar jobs around the globe. Moreover, the carmaker will close two manufacturing sites. As a result, Nissan will be able to add at least 480 billion yen ($4.4 billion) to …
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