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Indian reforms remain incremental, not glamorous after 2 years, says Commerzbank

Jul 26, 2016 12:45 pm UTC| Commentary Economy

Reforms in the Indian society have remained incremental in nature, rather than being glamorous after a period of two years, surpassed by the Modi government in power. Modi has not been the radical liberalizer the markets...

UK mortgage approvals fell ahead of Brexit vote, likely to have fallen in the recent weeks

Jul 26, 2016 12:05 pm UTC| Insights & Views Economy

The British Bankers Association (BBA) data released earlier today showed that British banks approved the fewest mortgages for house purchase since March 2015 in June. The number of mortgages approved by British banks last...

Sweden’s producer prices rise in June; imported inflation likely to remain low in future

Jul 26, 2016 10:08 am UTC| Commentary Economy

Swedens producer prices, on a sequential basis rose 1.5 percent in June. The gains in producer prices were driven by a weaker SEK and increased energy prices. Moreover, prices rose 2.2 percent on the export marked and 1.7...

South Korean GDP unexpectedly expands at stronger pace in Q2; growth momentum unlikely to continue

Jul 26, 2016 06:58 am UTC| Commentary Economy

The South Korean economy expanded surprisingly at a stronger pace in the second quarter of 2016, growing 3.2 percent year-on-year. Stronger capital investment and domestic consumption mainly drove the robust economic...

New Zealand’s June trade surplus trails expectations

Jul 26, 2016 05:41 am UTC| Commentary Economy

New Zealand recorded a trade surplus of NZD 127 million in the month of June. It missed the market projections of NZD 150 million. On an annual basis, the trade deficit narrowed to NZD 3.3 billion from Mays NZD 3.6...

FxWirePro: The Day Ahead- 26th July 2016

Jul 26, 2016 02:44 am UTC| Commentary Economy

Not many economic dockets scheduled for today and all with low to medium volatility risks associated. Upcoming: United Kingdom: BBA mortgage approvals will be released at 8:30 GMT. United States: Redbook...

Chart of the Day Series

Chart of the Day: China's Augmented Deficit

Jul 25, 2016 13:41 pm UTC| Commentary Economy

This fantastic chart from Goldman Sachs, shared by Simon Rabinovitch, journalist of The Economist shows, while Chinas official deficit is around 5 percent, it could actually be as close to15 percent. If this unofficial...

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Economy

Fed Rate Hike Threatens Housing as U.S. Growth Leans on AI, Citi Says

The Federal Reserves latest interest rate hike could deepen the U.S. housing downturn while making economic growth increasingly reliant on artificial intelligence investment, according to Citi Research. The Fed raised its...

Strait of Hormuz Oil Shipments Hit Six-Month High as U.S. Clears Mines

Oil and liquefied natural gas shipments through the Strait of Hormuz have climbed to a six-month high over the past two weeks, as U.S.-led naval escorts and mine-clearing operations improve access to the critical energy...

Bessent, He Lifeng to Discuss AI Security and Trade in New York

U.S. Treasury Secretary Scott Bessent is set to meet Chinese Vice Premier He Lifeng in New York on Sunday for talks covering artificial intelligence security, trade and other major economic issues, according to a person...

Canada Eyes India Trade Deal by Year-End

Canada is increasingly optimistic that it can finalize a comprehensive economic partnership agreement (CEPA) with India before the end of the year, with energy, nuclear power and critical minerals emerging as major areas...

Mexico Pushes for US Trade Deal Before Midterms

Mexican President Claudia Sheinbaum said Friday that her government is working to secure a trade agreement with the United States as quickly as possible, following what she described as a productive conversation with U.S....

Politics

Germany’s Carsten Breuer Elected Next NATO Military Committee Chair

German General Carsten Breuer has been elected as the next chair of the NATO Military Committee, putting Germanys chief of defence in line to become the alliances most senior military officer. Chiefs of defence from NATOs...

Turkey Ready to Aid Saudi Arabia Under Defence Pact as Houthi Attacks Escalate

Turkish Foreign Minister Hakan Fidan said Saturday that Ankara is prepared to help Saudi Arabia meet potential military needs as Houthi attacks intensify, citing a trilateral defence agreement between Turkey, Saudi Arabia...

US, Denmark and Greenland Reach Deal to Expand American Military Presence

The United States, Denmark and Greenland have reached an agreement allowing Washington to expand its military presence in Greenland while restricting US adversaries from establishing bases or making sensitive investments...

Israeli Strikes Across Gaza Leave at Least Three Dead

Israeli airstrikes killed at least three Palestinians across the Gaza Strip on Saturday, according to Palestinian health officials, as violence continued despite a U.S.-brokered ceasefire. One Israeli strike near the...

Trump Plans Federal AI Force and AI Czar

U.S. President Donald Trump said Saturday that he plans to create a federal AI Force and appoint an artificial intelligence czar, outlining an effort to accelerate U.S. AI development while using existing laws to address...

Science

Blue Origin New Glenn Explosion Could Delay Launch Operations Until 2028

Blue Origin is facing a significant setback after a dramatic explosion involving its New Glenn rocket severely damaged a launch pad at Cape Canaveral, Florida. According to NASA Administrator Jared Isaacman, repairs to the...

Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions

Blue Origin suffered a major setback after its uncrewed New Glenn rocket exploded during a launch pad test in Florida on Thursday, raising new challenges for Jeff Bezos space company as it competes with Elon Musks SpaceX...

SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO

SpaceX on Thursday postponed the highly anticipated launch of its 12th Starship rocket test from Texas after technical issues interrupted the final countdown. The company now plans to attempt the Starship V3 launch again...

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

Technology

SpaceX Nasdaq 100 Weight to More Than Double in Rebalance

SpaceX is set to gain significantly more influence in the Nasdaq 100 Index when the benchmark completes its quarterly rebalance on Monday, with the companys weighting expected to more than double. According to Bloomberg,...

Westinghouse Targets $50 Billion Valuation in U.S. IPO

Westinghouse Electric Co. is seeking a valuation of more than $50 billion for its planned U.S. initial public offering, as the nuclear technology company moves closer to a public market debut amid growing interest in...

NASA, Boeing Discuss Expanding Starliner Missions

NASA is holding discussions with Boeing about expanding the use of its Starliner spacecraft for future missions, potentially giving the troubled vehicle a larger role in U.S. human spaceflight plans. The space agency and...

Apple Pay Set for India Launch With Axis Bank

Apple is preparing to launch Apple Pay in India next month, initially partnering with Axis Bank to support the lenders credit cards, according to three people familiar with the plans. The rollout would bring Apples digital...

Hyundai CEO Warns Chinese Automakers Could Disrupt US Market

Hyundai Motor CEO Jose Munoz warned that Chinese automakers could eventually reshape the US auto market as they have in Europe unless Washington maintains tariffs and other market-access protections. Speaking in San Jose,...