Despite recovery in oil price Moody’s warns on Saudi banks

Jul 05, 2016 08:01 am UTC| Commentary Central Banks Economy

The oil price has recovered more than 90 percent from their bottom in February but one of the top three rating agencies Moodys has warned of the liquidity pressure in Saudi Arabias banks. The squeeze is likely to take its...

Singapore’s manufacturing PMI slips in June, denting hopes of economic revival

Jul 05, 2016 07:40 am UTC| Commentary Economy

Manufacturing sector in Singapore weakened in June, denting hopes of revival in the economy amid an environment of global tension, financial turmoil and weaklings in overseas exports. New orders, new export orders,...

US ISM non-manufacturing index likely to have recovered in June

Jul 05, 2016 07:26 am UTC| Commentary Economy

The US ISM non-manufacturing index is likely to have recovered in June, following a decline in May. According to a Societe Generale research report, the ISM non-manufacturing index might have risen to 54.4 in June after...

China services PMI jumps to 11-month high in June

Jul 05, 2016 07:19 am UTC| Commentary Economy

Activity in Chinas services sector jumped in the month of June to reach an 11-month high, according to results released Tuesday by a private survey. This marks divergence from the struggle the country was undergoing to...

Australia’s service sector dips marginally in June on looming political uncertainty

Jul 05, 2016 06:27 am UTC| Commentary Economy

Australias services sector witnessed marginal dip in the month of June, largely owing to ongoing political uncertainty, concerning the recently heldFederal elections, which are awaiting the final results. However, the dip...

Australia’s retail sales growth slows in May

Jul 05, 2016 06:22 am UTC| Commentary Economy

Australias retail sales in seasonally adjusted terms grew 0.2 percent on sequential basis, coming below market projections of 0.3 percent. On a year-on-year basis, retail sales growth decelerated to 3.4 percent in May, as...

Japan services sector shrinks in June, raises concern over weak consumer spending

Jul 05, 2016 06:15 am UTC| Commentary Economy

Japans services sector contracted in June, raising concerns over the countrys weak consumer spending, as new businesses shrank at the fastest pace in almost five years, a private business survey showed on Tuesday. Services...