Business

On Friday, China unveiled a series of new measures to revive its struggling property market after recent data showed housing prices have fallen nearly 10% since the beginning of the year. The central bank announced that it would lower the minimum down payment for mortgages and remove the floor on interest rates for first and second homes. This move aims …

The Japanese economy contracted at an annual rate of 2% in the first quarter of this year due to declines in consumption and exports, the government reported on Thursday. Despite a relatively low unemployment rate of around 2.6% in the world’s fourth-largest economy, wage growth has been sluggish, and prices have increased, partly because of the yen’s weakness against the …

Fewer Americans applied for unemployment benefits last week, indicating that layoffs remain at historically low levels, even though there are signs that the labor market is cooling. For the week ending May 11, jobless claims dropped by 10,000 to 222,000, down from the previous week’s 232,000, the Labor Department reported on Thursday. Despite last week’s applications being the highest since …

Chinese stocks saw a significant rise on Thursday after a major city announced plans to buy unsold homes, which analysts suggest might be a pilot for a larger solution to the country’s property crisis. The Hang Seng Index in Hong Kong closed up by 1.6%, reaching its highest point since August. The index has surged nearly 30% from its low …

All three major stock indexes surged to record highs on Wednesday following new data indicating that inflation eased in April after a recent uptick. The S&P 500, the tech-heavy Nasdaq Composite, and the blue-chip Dow all reached new record highs. The Consumer Price Index (CPI) showed a 3.4% increase in prices over the past year ending in April, down slightly …

Sony experienced a 34% surge in profit in the last quarter, driven by robust sales in its video games, music, and movies sectors, the Japanese electronics and entertainment company reported on Tuesday. Tokyo-based Sony Corp. reported a quarterly profit of 189 billion yen ($1.2 billion), up from 141 billion yen the previous year. The PlayStation maker saw a 14% increase …

The White House announced on Tuesday that the United States will raise tariffs on Chinese imports valued at $18 billion. These increased tariffs will affect key industries including electric vehicles (EVs), batteries, steel, and critical minerals. Specifically, tariffs on electric vehicles will increase fourfold to 100 percent this year, and those on semiconductors will escalate from 25 percent to 50 …

Emirates, the Dubai-based long-haul carrier, announced on Monday a record profit of $4.7 billion for the year 2023, marking a robust recovery from the disruptions caused by the coronavirus pandemic. The airline reported revenues of $33 billion, an increase from $29.3 billion the previous year, with profits in that year totaling $2.9 billion. The airline transported 51.9 million passengers during …