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Mexican economy likely to grow 2.1 pct in 2017, says Wells Fargo

Nov 28, 2017 13:07 pm UTC| Commentary Economy

The Mexican economy was slightly softer than originally recorded, down 0.3 percent sequentially while recording a 1.5 percent rise as compared to the same quarter a year-on-year. The Mexican statistical institute, INEGI,...

Oil in Global Economy Series: Will OPEC deal with its biggest cheating member in Vienna?

Nov 28, 2017 12:55 pm UTC| Commentary

Tomorrow OPEC members and participating non-OPEC countries will meet at OPECs Vienna headquarter to decide on the future of the agreement that was first commenced in November 2016, with an aim to reduce global oil supplies...

BoJ’s Kataoka counters hawkish remarks with calls for more easing

Nov 28, 2017 09:11 am UTC| Commentary Central Banks

While the market has not yet digested the recent hawkish commentaries from the Bank of Japan (BoJ) policymakers like Governor Kuroda and board member Suzuki, another board member Goushi Kataoka countered that hawkish...

Oil in Global Economy Series: Russia keeps market guessing ahead of OPEC meting

Nov 28, 2017 08:07 am UTC| Commentary

Both OPEC and N-OPEC participating members are set to meet in Vienna tomorrow to decide on the future of the production agreement that aims to reduce production by 1.76 million barrels per day compared to the November 2015...

FxWirePro Call Review: Add short positions in Nikkei 225 targeting 20,000

Nov 28, 2017 07:37 am UTC| Commentary

In an article published earlier this month, named, FxWirePro: Bears eyeing 9-10 percent drop in Nikkei 225, available at http://www.econotimes.com/FxWirePro-Bears-eyeing-9-10-percent-drop-in-Nikkei-225-1009381, we...

Fed Hike Aftermath Series: Next Fed Chair Powell pledges continuity and stability in hearing testimony

Nov 28, 2017 07:00 am UTC| Commentary Economy Central Banks

In an opening statement to the Senate Banking Committee released on Monday evening, Mr. Jerome Powell, whom President Donald Trump nominated to replace incumbent Fed Chair Janet Yellen vowed to continue supporting the...

FxWirePro: Asian markets surprisingly down, silver flat at $17.00 mark

Nov 28, 2017 04:24 am UTC| Commentary

All the major Asian indices were trading on a lower note on Tuesday. Gold was trading around $1,293 mark while silver was trading around $17.01 mark. Shanghai composite index to open down 0.3 pct at 3,311.23 points and...

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Economy

Asian Stock Markets Rise as Australian Shares Rally; Investors Eye U.S. Jobs Data and China Inflation

Asian stock markets posted modest gains on Wednesday, led by a strong rally in Australian shares, as investors weighed softer-than-expected Chinese inflation data and awaited key U.S. jobs figures that could influence...

Asian Currencies Rise as Dollar Weakens Ahead of U.S. Payrolls Data; Aussie Hits Three-Year High

Asian currencies strengthened on Wednesday as the U.S. dollar extended its recent decline ahead of closely watched U.S. nonfarm payrolls data. The softer greenback provided broad support across regional foreign exchange...

Australian Central Bank Signals Tough Stance as Inflation Pressures Persist

A senior official at the Reserve Bank of Australia (RBA) has reinforced the central banks firm commitment to curbing inflation, warning that price pressures remain uncomfortably high despite signs of resilience across the...

Yen Strengthens as Japan Election Boosts Confidence, Dollar Wavers Ahead of U.S. Jobs Data

The Japanese yen held onto solid gains on Wednesday, supported by a strong rally in Japans stock market and growing optimism over the countrys political outlook following Prime Minister Sanae Takaichis landslide election...

Oil Prices Hold Firm as U.S.–Iran Talks and Inventory Data Shape Market Sentiment

Oil prices edged slightly higher on Wednesday as traders remained cautious, balancing ongoing U.S.Iran nuclear talks with fresh geopolitical risks and upcoming U.S. inventory data. Brent crude futures gained 23 cents, or...

Politics

House Rejects GOP Effort to Block Challenges to Trump Tariffs in Narrow Vote

The U.S. House of Representatives rejected a Republican-led effort to block legislative challenges to President Donald Trumps tariffs in a razor-thin 217-214 vote on Tuesday, marking a significant political setback for...

Trump Executive Order Aims to Boost U.S. Coal Power Plants with Pentagon Support

U.S. President Donald Trump is expected to sign a new executive order directing the Pentagon to use federal funding and defense contracts to support struggling U.S. coal-fired power plants, according to a Bloomberg News...

FAA Confirms $1.5 Billion Peraton Contract as U.S. Air Traffic Control Overhaul Accelerates

The Federal Aviation Administration has confirmed that its contract with national security firm Peraton, the project manager for a sweeping $12.5 billion modernization of the U.S. air traffic control system, is valued at...

China Signals Strategic Rare Earth Push Amid Rising U.S. Competition

China has sent a fresh signal about the growing strategic importance of rare earth minerals as Premier Li Qiang, the countrys second-ranking official, inspected rare earth facilities in Jiangxi province this week,...

U.S. to Deploy 200 Troops to Nigeria to Train Military Against Islamist Militants

The United States is preparing to deploy approximately 200 troops to Nigeria to help train the countrys military in its fight against Islamist militant groups, according to a U.S. official. The deployment comes weeks after...

Science

SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision

SpaceX CEO Elon Musk has revealed a significant shift in the companys near-term space exploration strategy, announcing that SpaceX is now prioritizing the development of a self-growing city on the Moon rather than focusing...

SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates

Elon Musks SpaceX is shifting its near-term space exploration strategy, choosing to prioritize a return to the Moon before pursuing missions to Mars, according to a recent Wall Street Journal report citing sources familiar...

NASA and SpaceX Target Crew-11 Undocking From ISS Amid Medical Concern

NASA has confirmed that the agency, in coordination with SpaceX, is targeting no earlier than 5 p.m. Eastern Time (2200 GMT) on Wednesday, January 14, for the undocking of the SpaceX Crew-11 mission from the International...

Neuralink Plans High-Volume Brain Implant Production and Fully Automated Surgery by 2026

Elon Musks brain-computer interface company Neuralink is preparing for a major expansion, announcing plans to begin high-volume production of its brain implant devices and transition to a fully automated surgical procedure...

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Technology

ByteDance Advances AI Chip Development With Samsung Manufacturing Talks

Chinas ByteDance is accelerating its push into artificial intelligence hardware, reportedly developing its own AI chip while holding discussions with Samsung Electronics for manufacturing support. The TikTok parent company...

SMIC Shares Slide Despite Strong AI-Driven Earnings as Margin Pressure Looms

Shares of Semiconductor Manufacturing International Corp (HK:0981), Chinas largest contract chipmaker, declined 3.6% to HK$68.95 in Hong Kong trading on Wednesday, underperforming the Hang Seng Index, which edged up 0.4%....

Russia Signals Further Restrictions on Telegram Amid Ongoing Regulatory Disputes

Russia is set to impose additional restrictions on Telegram, one of the countrys most widely used messaging platforms, after authorities said the app failed to address earlier violations of Russian law. The announcement...

Cloudflare Forecasts Strong Revenue Growth as AI Fuels Cloud Services Demand

Cloudflare has projected annual and first-quarter revenue above Wall Street expectations, signaling strong confidence in the growing demand for cloud services driven by rapid advancements in artificial intelligence. The...

Minnesota Governor Says Trump Immigration Crackdown Could End Soon

Minnesota Governor Tim Walz said Tuesday that the federal immigration crackdown ordered by President Donald Trumps administration in Minnesota could end within days, following direct conversations with senior White House...