Category: News Desk

Malaysian Economy Grows at Slowest Pace in Two Years


According to government data, Malaysia’s economy expanded at a slow rate of 4.9 percent in the second quarter, amid such factors as political instability and a stagnant currency, according to AFP. The country has also suffered from drops in exports and private consumption.

The world economy has not been kind to Malaysia, especially when it comes to the issue of lower oil prices. The Southeast Asian country relies a great deal on energy exports to maintain a prosperous economy, but the nation’s devalued currency has hit exports across the board.

Unemployment Claims at Lowest since 2000, Retail Sales Rise


In further signs of an improving U.S. economy, both important unemployment claim statistics have fallen to their lowest level in nearly a generation and retail sales have shown a sharp increase.

Weekly initial unemployment claims rose to 274,000 in the week ending August 8, an increase of 1.9% from the previous week. However, the previous week’s level was revised by 1,000 to 269,000, and the 4-week moving average, which economists primarily use to see if a major trend is emerging in unemployment claims, fell by 1,750 from the previous week’s revised average.

Kyrgyzstan Becomes Member of Eurasian Economic Union


The Central Asian nation of Kyrgyzstan has become a full member of the Russian led Eurasian Economic Union (EEU) on August 12, 2015 after it formally abolished customs controls along its border with Kazakhstan.

Russian Economy Contracts in Second Quarter


According to figures from the Russian government, the economy contracted 4.6 percent in Q2 due to lower oil prices, according to the Associated Press. The economy has also been damaged by western sanctions over the Ukrainian conflict, but a low-priced oil market is the main driver behind lagging output in Russia.

Asians Sell Billions in U.S. Debt


Japanese and Chinese banks are selling hundreds of billions of dollars of U.S. debt as investors sour on the future of U.S. Treasuries.

In June, Japanese investors sold the most amount of U.S. Treasuries in a one-month period since 2013, when the taper tantrum caused yields to rise and investors to leave the Federal debt market on the fear of rising yields and falling prices for U.S. government debt. At the same time, Japanese investors sold German and French government debt, leading to concerns that Asians are losing interest in investing in the west.

OECD Praises Israel for Improving Employment Rates among Arabs


According to a recent report by the Organization of Economic Cooperation and Development (OECD), Israel not only weathered the global recession of 2008 better than many other nations, it actually managed to begin the process of addressing ethnic inequality during the same period. The report also identifies lingering shortcomings and suggests ways to better integrate Israeli-Arabs into the workforce.

South Korean President Stresses Need for Economic Reform


South Korean President Park Geun-Hye said the economy is in need of “major surgery,” according to Reuters. The president’s approval rating dropped below 40 percent, a far cry from a 61-percent rating when she was elected in 2013.

China Housing Bulls Stay Positive


With home sales improving and average sales prices skyrocketing, the Chinese property market looks like it is recovering.

World Bank Bumps India to Front of the Pack for Predicted GDP Growth in 2015


The World Bank announced new predictions for gross domestic product (GDP) growth among the world’s nations through the end of 2015. Although it slightly downgraded India’s overall annualized growth rate prediction, it was enough to put India in the number one seat for GDP growth by the end of the year.

Iranian Economy Will Grow in 2015


According to the deputy governor of Iran’s central bank, the economy could grow up to four percent, according to Reuters. Iranian leadership reached an agreement with the international community over the state’s nuclear ambitions. The deal will also lead to a revival of the nation’s fledgling oil and gas industry.