Market

As the Canadian currency continues its downward path, economists see more space for decline.
24Dec mmBy Mike TrudellNo Comments
Market, USA

As the Canadian currency continues its downward path, economists see more space for decline.

“We do have more room to fall,” said Karl Schamotta, chief market strategist at Corpay. The Canadian dollar has been trading below 70 cents U.S. in recent weeks and is nearly four per cent below where it was in September. Schamotta predicts the coming months will be “a very turbulent period for Canada” as uncertainty stemming from incoming U.S. president Donald Trump‘s policy proposals weigh on business investment and consumer confidence — which means a weaker loonie in the short term. Article contentHowever, that’s not the only factor at play. The outperforming U.S. economy, which is pushing U.S. yields higher — well above yields in Canada — is attracting more investments south of the border. There’s also a widening differential in monetary policy between the Bank of Canada a...
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People are less optimistic about the direction of the US economy.
23Dec mmBy Mike TrudellNo Comments
Market, USA

People are less optimistic about the direction of the US economy.

US consumer confidence tumbled in December from the previous month amid Americans' growing uncertainty over the economic outlook in the year ahead. The Conference Board's consumer confidence index declined by 8.1 points in December to 104.7, below the 113.2 expected by economists surveyed by Bloomberg. The expectations index, which includes the short-term outlook for income, business, and labor market conditions, sank 12.6 points to 81.1 in December, its largest month-over-month decline since November 2020. That was just slightly higher than the threshold of 80 that usually signals a recession ahead. Stocks hit session lows after the Conference's Board's release and then pared losses. "Consumer views of current labor market conditions continued to improve, consistent with rece...
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23Dec mmBy Walter ParezNo Comments
Asia, Market, World

Malaysia Leads Southeast Asia in Digital Investments

Malaysia retained its position as Southeast Asia’s top data center hub in 2024, attracting $23 billion in investments and solidifying its status as a leading digital hub, Knight Frank said Monday. The global property consultant, in its Data Centre Research Report 2024, noted Malaysia ranked first in the SEA-5 Data Centre Opportunity Index for the second straight year, with an annual take-up of 429 MW, surpassing regional peers. Strategic investments from tech giants like Microsoft, Amazon Web Services (AWS), Google, and Oracle drove the growth, contributing $23.3 billion. Malaysia hosts 54 operational data centers with a combined capacity of 504.8 MW, led by Johor in IT capacity and Klang Valley as a core market. Emerging hubs include Sarawak, Negeri Sembilan, and Kedah. Malay...
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Core inflation in Singapore continues to fall, reaching 1.9% in November.
23Dec mmBy Walter ParezNo Comments
Market, Singapore

Core inflation in Singapore continues to fall, reaching 1.9% in November.

Singapore’s core inflation continued its decline in November to a three-year low, beating economists’ expectations, on the back of easing food and services costs. Core inflation, which strips out private transport and accommodation costs to better reflect the expenses of households here, fell to 1.9 per cent year on year, from 2.1 per cent in October. This is the lowest since November 2021, when core inflation was 1.6 per cent. Economists polled by Bloomberg had estimated the median core inflation to be 2.1 per cent. Overall – or headline – inflation rose to 1.6 per cent year on year in November, up from 1.4 per cent in October but lower than the Bloomberg poll of 1.8 per cent. The slight increase was led by a more gradual decline in private transport costs. On a month-on-m...
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Singapore Airlines is transitioning its business class to Le Labo amenity kits.
23Dec mmBy Walter ParezNo Comments
Market, Singapore

Singapore Airlines is transitioning its business class to Le Labo amenity kits.

Back in 2020, Singapore Airlines made a surprise move by introducing amenity kits for Business Class passengers, a perk the carrier had long resisted providing, in favour of offering shared amenities in the lavatories and other items such as slippers and eyeshades on request. SIA has now announced that it’s switching to a new brand for these kits, with luxury perfume house Le Labo selected as the the partner for the carrier’s latest Business Class amenity kits. Who is Le Labo?If you’re not already familiar, Le Labo is a luxury fragrance brand known for its minimalist aesthetic, artisanal approach, and high-quality perfumes. Founded in 2006 in New York City by Fabrice Penot and Edouard Roschi, Le Labo (French for “The Lab”) emphasises craftsmanship and personalisation, setting it ...
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Libya is eager to hire more talented workers and experts from Bangladesh.
23Dec mmBy Brian ThompsonNo Comments
Asia, Market

Libya is eager to hire more talented workers and experts from Bangladesh.

DHAKA, Dec 23, 2024 (BSS) - Libya has expressed Libya's interest inrecruiting more Bangladeshi professionals and skilled workers to support itsdevelopment. The interest was conveyed when Libyan Ambassador to Bangladesh Abdulmutalib SM Suliman paid a courtesy call on Foreign Secretary Md Jashim Uddin atforeign ministry here on Sunday, said a ministry's press releases here. The envoy also conveyed Libya's intention to increase imports of Ready-MadeGarments and jute products from Bangladesh. During the meeting, both sides reaffirmed their commitment to strengtheningthe longstanding cooperation between Bangladesh and Libya, with a focus ondeepening economic ties as the two nations prepare to celebrate 50 years ofbilateral relations next year. The Foreign Secretary emphasized foste...
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Top economic events in India in 2024: the wellbeing of women and foreign inflows
23Dec mmBy Brian ThompsonNo Comments
Asia, Market

Top economic events in India in 2024: the wellbeing of women and foreign inflows

From economic growth and technological strides to diplomatic successes and social welfare reforms, India has made significant progress in 2024. As the year draws to a close, here is a look back at the country’s journey this year which has been nothing short of transformative, with achievements that solidify its standing as a global powerhouse. Remain the fifth-largest economyIndia’s economy continued its robust recovery in 2024, with the country recording a 7 per cent gross domestic product (GDP) growth, making it the world’s fastest-growing major economy. The country continues to be the fifth-largest economy in the world, quickly catching up to Germany which enjoys the fourth position on the list. FDI crosses $1 trillion (2000-2024)India’s strong performance was driven by a surge i...
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China is now behind the rest of Asia in GDP growth.
23Dec mmBy Joe RodriguezNo Comments
China, Market

China is now behind the rest of Asia in GDP growth.

China’s GDP Growth is Now Lagging the Rest of AsiaThis was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. China’s economy is facing a series of significant challenges, including a property crisis and high youth unemployment. After decades of rapid growth, the country is now expected to experience less economic growth than other Asian nations. This graphic illustrates the projected growth of per-capita GDP for selected Asian nations between 2023 and 2026, based on data compiled by HSBC as of November 2024. Chinese Economy LaggingIndia and Southeast Asian nations are projected to achieve an average per-capita GDP growth of 6.5% over the 2023–2026 period. Most of these...
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What is the outlook for the Chinese economy in 2025?
23Dec mmBy Joe RodriguezNo Comments
China, Market

What is the outlook for the Chinese economy in 2025?

China’s gross domestic product growth slowed during the first three quarters of 2024, from 5.3% to 4.7% to 4.6%, raising fears that the country would not achieve its annual growth target of around 5%. But the latest data suggest that China’s economy is finally turning the corner.Economic activity in China has been relatively weak since the COVID-19 crisis. This was not unexpected, at least not at first: three years of pandemic lockdowns strained household, corporate and local-government balance sheets. Declining business confidence — partly a response to a regulatory crackdown on finance, the property sector and the platform economy — did not help matters. In early 2021, when the United States emerged from the worst of its pandemic lockdowns, American households quickly began spending ...
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An analyst predicts how Trump may affect the US economy.
23Dec mmBy Mike TrudellNo Comments
Market, USA, World

An analyst predicts how Trump may affect the US economy.

President-elect Donald Trump won a return to the White House in part by promising big changes in economic policy — more tax cuts, huge tariffs on imports, mass deportations of immigrants working in the United States illegally. In some ways, his victory marked a repudiation of President Joe Biden’s economic stewardship and a protest against inflation. It came despite low unemployment and steady growth under the Biden administration. What lies ahead for the economy under Trump? Paul Ashworth of Capital Economics spoke recently to The Associated Press. The interview has been edited for length and clarity. Q: What kind of economy is Trump inheriting?A: It is objectively a strong economy. But that doesn’t mean the man in the street agrees. If you look just at the growth numbers, they’...
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