Category: News Desk

Investment Bank Warns of Energy Company Bankruptcies


Seeing greater challenges for the energy sector, investment banks are starting to cut off credit to oil producers.

JPMorgan, a U.S.-based investment bank, announced it would limit credit availability to energy firms by cutting their credit lines by about 15% to 20%, on average. JP Morgan commercial bank head, Doug Petno, said at an investor conference that some energy firms might see even less access to cash in the coming months. “Some [credit lines] may go down by 50 percent,” he said.

Singapore’s Economy Contracted in 2015 but Remains in Good Standing


According to government figures, Singapore’s economy grew 2.0% in 2015, a shortfall from 3.3% seen from 2014, according to CNBC. Retail trade and wholesale added the most growth, but failed to offset the city-state’s fall in manufacturing output. Analysts expect the economy to expand anywhere from 1.0% to 3.0% in 2016.

IMF Chief Suggests Fiscal Reforms May Pave Road to Middle East Peace


Christine Lagarde, the outspoken and highly popular head of the International Monetary Fund (IMF), has made a rather bold statement about how to achieve peace in a region known for its many years of turmoil. She has called upon the nations of the Middle East to improve their taxation systems and enact significant fiscal reforms as a way to create political stability and, ultimately, peace.

Lagarde outlined her philosophical pathway to peace in the second speech she has delivered this week in the Middle East.

Fed Signals Fear as Consumer Confidence, Manufacturing Falls


A Federal Reserve chairman has warned that the central bank’s policies may be hurting growth as several economic indicators soured.

In an interview with the Financial Times, Dallas Federal Reserve head Robert Kaplan warned of the “downside” to a more tightening monetary policy. Additionally, he noted that the Fed’s previous optimism was possibly too early as inflation and other economic data points became increasingly sluggish in early 2016.

UN Secretary General Visits Burundi as Violence Escalates


UN Secretary General Ban Ki-moon visited Burundi Monday to assist in the resolution of an ongoing dispute over President Pierre Nkurunziza’s third-term presidential win in July, according to AFP. Four people were killed shortly before Ban Ki-moon’s visit, but he intends to convince the president to open dialogue with his political opponents to stifle further unrest. The secretary general plans to visit South Sudan and the Democratic Republic of Congo after his Burundi trip.

World Bank Partners with Myanmar to Support Ongoing Development


Myanmar (Burma) is one of the poorest nations in Asia. It ranks 208 of 227 countries indexed by the CIA in per capita gross domestic product (GDP); but, several recent economic policy changes have improved conditions in the nation, and the World Bank has taken note. 

Mixed Signals Indicate an Uneven Economic Recovery in the U.S.


The Chicago Federal Reserve announced Monday that the country is seeing improved economic conditions, which helped bolster a recovering stock market that remains down for the year. “The Chicago Fed National Activity Index (CFNAI) was +0.28 in January, up from −0.34 in December,” the Federal Reserve announced, indicating that economic growth has improved somewhat in the country, although the reading was still a disappointment to some analysts.

Popular French Economy Minister Faces Tough Road While Reforming Economy


Economy Minister Emmanuel Macron struggles to implement crucial reforms as politics stand in the way of progress, according to Reuters. Macron is wildly popular among French citizens, but his market-oriented approach remains a turn-off to Socialist party members, and he does not have enough support from President Francois Hollande to accomplish his goals. The president seeks reelection in 2017 and hopes to reform the economy before elections take place.

WTO to Grant Nigeria Relief from Dumping


Nigerian industry has suffered for many years thanks to the influx of less expensive items from abroad. This has effectively killed a number of local industries in the African nation; however, due to recently secured measures from the World Trade Organization (WTO), several of these dead industries may be resurrected once more.

U.S. Jobless Claims Fall as Inflation Rises


Prices are going up and unemployment is going down, but companies are still struggling to pay their debts.  Jobless claims fell 7,000 to 262,000, below the 275,000 expected and beneath the 269,000 prior reading, according to a new report by the U.S. Department of Labor.