Taimur Baig, Chief Economist, Asia, Deutsche Bank, explains his bullish call and says markets are underestimating the bounce China will see from exports and de-regulation.» Read More
U.S. import prices rose by a more-than-expected 2.8 percent in March as petroleum prices jumped 9.1 percent, a Labor Department report showed Friday.
Asian stocks rose Friday, with Japan's Nikkei closing almost 3 percent higher, led by chipmakers on expectations a slump in the sector may soon end, while oil prices retreated after testing a record high above $112 a barrel.
Finance chiefs from rich nations meet on Friday in Washington D.C. to bless proposals for tightening scrutiny of global banking practices and to press the private sector to step up its efforts to settle financial markets.
Japanese annual wholesale inflation hit a 27-year high in March, squeezing businesses as they struggle to pass on higher prices for fuel and other raw materials to their customers.
Japan wants the Group of Seven rich nations to show a clear determination to ensure financial system stability as global markets remain turbulent, Bank of Japan Governor Masaaki Shirakawa said on Thursday.
We wrap up our special coverage this week on food inflation in Asia. We thought it appropriate to take a closer look at how Asia's powerhouse, China, is dealing with the situation.
It's hard to get more diverse than General Electric: jet engines, high finance, even business news websites (i.e., this one). For that reason, its quarterly report gives an insightful look into how the rest of earnings season may turn out.
It's nearly 75 degrees in New York today, the sun is shining and it certainly feels like spring is here. Yet, heating oil prices at the NYMEX continue to set new records , climbing past $3.32 a gallon this morning, and settling at $3.19.
Oil slipped from record highs as top exporter Saudi Arabia insisted markets were amply supplied despite falling US inventories.
European stocks ended lower for the third straight session on Thursday but well off the day's lows as strong gains on Wall Street sparked a late recovery, eclipsing fears of more asset writedowns in the banking sector.
The dollar fell to a record low against the euro Thursday, but pared losses as European Central Bank President Jean-Claude Trichet did not drastically change his growth and inflation views for the euro zone.
Federal Reserve Chairman Ben Bernanke said the U.S. economy could face a mild recession but that growth should pick up as the impact of aggressive interest rates cuts are felt.
The U.S. economy has "turned down sharply" and is at risk of weakening further because of the slump in housing, Treasury Secretary Henry Paulson said.
This is a timeline of the European Central Bank's rate decisions from 2007 to date.
The European Central Bank kept rates on hold at 4 percent, as expected, on Thursday, sticking to its mandate to fight inflation at any cost. Economists now think the possibility of monetary easing is more likely as late as the fourth quarter.
The US trade deficit widened unexpectedly in February as imports of consumer and other goods set a record and grew faster than exports, which hit a record for the 12th consecutive month, a government report showed on Thursday.
The Federal Reserve will stop cutting interest rates once it is assured that the economic contraction is limited to the financial sector, PIMCO CEO Mohamed El-Arian told CNBC.
The Bank of England cut interest rates by 25 basis points to 5 percent on Thursday, amid continuing weakening in the housing market and as fears of an economic slowdown increased.
Asian markets closed mixed Thursday while the U.S. dollar remained weak on concerns about the impact of a credit crisis on the global economy and as record oil prices fuel inflation worries.
Wall Street banks are the first to be blamed for the credit crunch. Central banks come a close second, but as the Federal Reserve's image is suffering, the European Central Bank looks as solid as a rock.