US, Russian And Saudi Pumping Crude At Record Levels

The U.S. Russia and Saudi Arabia are pumping crude at record levels causing global supply to significantly outrun demand a monthly update from the International Energy Agency showed Wednesday.The IEA said oil output from the worlds three biggest producers is holding global supply steady at around 100.7 million barrels a day last month. Thats 2.6 million barrels a day higher than the same period last year.Since May global oil output has climbed by 1.8 million barrels a day. The U.S. has provided 1 million barrels a day of growth [read more]

IMF To International Communities; 'Consider' Endorsing Central Bank Issued Digital Currencies

The head of the International Monetary Fund (IMF) has said the international community should consider endorsing central bank issued digital currencies (CBDCs) in a speech at the Singapore Fintech Festival Nov. 14.IMF managing director Christine Lagarde said that despite being not entirely convinced on the concept of cryptocurrencies more generally there may be a case for states to issue governmentbacked tokens or similar assets.I believe we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the [read more]

Mark Mobius says it's time to buy stocks in emerging markets

Stocks in emerging markets are looking very cheap now and thats a buying opportunity prominent investor Mark Mobius told CNBC on Monday. Investors sold their holdings in emerging markets in a big way in recent months as they feared financial problems in countries such as Turkey and Argentina could spill over to other economies. Adding to concerns were the strengthening U.S. dollar and rising oil prices which hurt emerging economies with [read more]

Trump's trade war could dent China's domestic consumption, dragging down the rest of Asia

Much attention in recent months has focused on the U.S.China trade wars impact to global supply chains and how that could hurt many Asian economies. Thats one way the region may be dragged down by the conflict but there could be more at risk. Another important factor experts said is a potential slowdown in Chinas domestic demand for goods from other Asian countries. [read more]

Alibaba's CEO started Singles Day to promote a new brand. Now it's a $25 billion phenomenon

Singles Day may not be that wellknown outside of China but its a celebration that has turned into a multibilliondollar annual shopping day thanks to Alibaba. And the architect behind it current CEO Daniel Zhang started it to promote a new ecommerce platform. Nov.11 is known as Singles Day in China and is widely believed to have begun in the 1990s in universities by men celebrating being single. In 2009 Alibaba launched the first shopping event on that day offering heavy discounts [read more]

San Francisco Fed names Mary Daly as president

The Federal Reserve of San Francisco on Friday named its head of research Mary Daly as its next president succeeding John Williams who departed in June to lead the New York Fed.Daly takes the helm in San Francisco on October 1. Dalys appointment was approved by the Feds Board of Governors in Washington. This is the same position former Federal Reserve Chair Janet Yellen held from 2004 to 2010.I am truly honored to have been given this opportunity Daly said in a statement. I believe very strongly in the Federal Reserves mission [read more]

Fed Kept Rate Unchanged And Signal Tightening Will Continue.

U.S. stocks closed mostly lower Thursday as the Federal Reserve kept interest rates unchanged in an unanimous decision and signaled that it would continue to tighten monetary policy at a gradual pace.In a statement that was largely intact from its September meeting the Fed said The Committee expects further gradual increases in the target range for the federal funds rate. It also said the risks to the economic outlook appear roughly balanced and noted that inflation remains near its 2% target.The absence [read more]

Trump is in big trouble now that Democrats control the House — and he knows it

His words of selfcelebration signal one thing his actions another that President Trump knows he is in big trouble. After American voters hit the brakes on his administration by flipping the House to Democratic control Trump called a White House news conference to insist he had won almost a complete victory. That referred to GOP gains in the Senate which remains in his [read more]

Blockchain tech is taking on renewable energy trading in Singapore

Blockchain the technology underpinning cryptocurrency bitcoin has been recommended and theorized for uses across a broad spectrum of sectors and countries. Now one Southeast Asian citystate is putting the tech to work in reshaping its energy industry.In Singapore companies can buy and sell socalled renewable energy certificates (RECs) that represent a unit of green energy production from the likes of wind or solar power. The idea is that firms seeking to offset their nongreen energy production can [read more]

Which way for markets? It's all about the midterms

Americans will cast their vote in the U.S. midterm elections on Tuesday and the results will set the tone for stock markets around the world. Four hundred and thirtyfive seats in the House of Representatives are up for grabs while 35 of the 100 Senate seats will be on offer too. The big picture result will center around [read more]