U.S. TREASURY SECRETARY NOMINEE JANET YELLEN TO PRESENT $1.9 TRILLION STIMULUS PACKAGE

Highlights

• The Senate Finance Committee's hearing is expected to feature several topics like foreign-exchange policy to taxes

• The most important topic in this hearing will be the President-elect Joe Biden’s $1.9 trillion coronavirus relief plan

CHINA’S FORTUNE DOES A SWIFT VOLTE-FACE WHILE COVID-19 SUBJUGATES OTHER NATIONS

• As most nations around the world engage in a hard fought battle with new lockdowns and layoffs in the face of the soaring pandemic, just one major economy has swung back after bringing the coronavirus mostly under tight supervision: China.
• The Chinese economy rose 2.3 percent l...

CHINA’S ECONOMY GOING GREAT GUNS WITH FOURTH QUARTER RESULTS PERKING UP

• China is the solitary nation that observed progressive growth in 2020.
• The world's second best economy with only US in front says it grew 2.3% last year, compared with the previous year, with the final quarter seeing growth of 6.5%.

The COVID-19 pandemic h...

BANK OF KOREA MAINTAINED ITS POLICY RATE OF 0.5 PERCENT

Highlights –

• Bank of Korea maintained its policy rate of 0.5 percent.
• Bank of Korea in November 2020 had frozen the key rate due to economic uncertainty.
• The monthly exports in 2020 advanced 12.6 percent on-year to reach $51.4 billion...

U.S.INDUSTRIAL PRODUCTION WENT UP BY 1.6 PERCENT IN DECEMBER

Highlights

• The industrial production in the United States surged by 1.6 percent in the month of December, up for the third consecutive time

• The manufacturing went up by 0.8 percent, which is up for the eighth consecutive month, irrespective of production of motor...

U.S. PRESIDENT-ELECT JOE BIDEN ANNOUNCES $1.9 TRILLION STIMULUS PLAN TO REVIVE ECONOMY

Highlights

• This package includes $415 billion that will be used specifically for battling the coronavirus pandemic along with more than $1 trillion in direct aid to individuals and families

• Completing this promise about increasing the amount of stimulus checks, t...

US PRESIDENT-ELECT JOE BIDEN IS PLANNING TO SPEND $1.5 TRILLION TO BOOST ECONOMY

Highlights

• Immediately after the Democrat takes charge of the office on January 20, his administration will work closely with Congress on this stimulus package

• According to the sources, the stimulus package is said to be over $1.5 trillion and includes $1,400 sti...

JAPAN’S CONSUMER SPENDING IS EXPECTED TO FALL BY $19.3 BILLION

Highlights –

• Japan’s consumer spending is expected to fall by $19.3 billion.
• The loss would correspond to 0.40 percent of Japan's annual GDP in nominal terms.
• Japan's government has imposed a state of emergency in 11 pre...

JAPAN REPORTS THE LOWEST CORPORATE BANKRUPTCIES IN 2020 AMID PANDEMIC

Highlights –

• Japan reports the lowest corporate bankruptcies in 2020 amid pandemic.
• The decline in bankruptcies could be attributed to the government’s interest-free loans etc.
• Information and communications posted a 22.1 percen...

BOJ GOVERNOR SUGGESTS COUNTRY’S ECONOMY SEVERE AND RECOVERY BE MODERATE

Highlights –

• BOJ Governor suggests country’s economy severe and recovery be moderate.
• Later in the day, BOJ is scheduled to release its quarterly Sakura report on regional economies.
• BOJ Governor Kuroda said the consumer price i...

US ECONOMY LOST 140,000 JOBS IN DECEMBER, WOMEN ACCOUNTED FOR ALL OF THEM

Highlights

• While all the jobs lost in last month were held by women, men on the other hand gained 16,000 jobs in the same period

• According to the data, Latina and Black women disproportionately work in sectors that were hit hardest by the COVID-19 pandemic

JAPAN GOVT. TO GIVE CASH HANDOUTS TO SUPPORT SUPPLIERS OF RESTAURANTS

Highlights –

• Japan Govt. to give cash handouts to support suppliers of restaurants.
• The government plans to pay $3,800 to suppliers in Tokyo and its vicinity areas.
• The government is to pay 60,000 yen per day to restaurants and bars t...

$600 NOT ENOUGH SAYS BIDEN, CALLS FOR $2000 STIMULUS CHECKS

Highlights

• Earlier this week, the President-elect had said that $2,000 checks would go out as soon as his party takes control of the both houses

• With control of the House of Representatives and the Senate, Biden is expected to push for a new stimulus package late...

‘WE MUST BUILD OUR ECONOMY BACK BETTER’ SAYS VICE PRESIDENT-ELECT KAMALA HARRIS

Highlights

• Harris said by the building back the economy, she means providing an access to capital for small business owners, the economic engines of the neighborhoods

• She said this will help them create jobs that are in the communities and help communities sustai...

U.S. ECONOMY SHEDS JOBS FOR THE FIRST TIME SINCE APRIL IN THE MONTH OF DECEMBER

Highlights

• The data for November was revised up to show 336,000 jobs went up instead of 245,000 as reported earlier

• While the labor market is suffering, the chances of economy falling back into the recession is very low courtesy of the $900 billion stimulus appro...

CHINA AND FRANCE HELD TALKS ON STREGTHENING BILATERAL COOPERATION

Highlights –

• China and France held talks on strengthening bilateral cooperation.
• Chinese Vice Premier and French Economy and Finance Minister held telephonic talks.
• Chinese President and French counterpart have held over five telephon...

U.S.-INDIA TENSIONS INCREASED OVER TARIFF POLICIES UNDER TRUMP ADMINISTRATION: US CONGRESS REPORT

Highlights

• It also noted that both the sides have also held concerted negotiations in order address these trade worries

• The CRS report said “Under the Trump administration, bilateral tensions increased over each side’s tariff policies. In general, Ind...

JAPAN’S ECONOMY EXPECTED TO PICK UP AT THE END OF FY 2021

Highlights –

• Japan’s economy expected to pick up at the end of FY 2021.
• In the next fiscal year to March 2022, the country’s economy is expected to grow 3.42 percent.
• The Japanese government expects a 4.0 percent growth ne...

CHINA’S PMI IN DECEMBER FOR ITS MANUFACTURING SECTOR STOOD AT 51.9

Highlights –

• China’s PMI in December for its manufacturing sector stood at 51.9.
• The PMI edged down by 0.2 percentage points from November.
• In December, the country’s sub-index for production stood at 54.2.
• The ...

SOUTH KOREA REPORTS CPI IN DECEMBER GREW BY LESS THAN 1 PERCENT

Highlights –

• South Korea reports CPI in December grew by less than 1 percent.
• The country’s annual inflation rose by less than 1 percent.
• In December CPI rose by 0.5 percent on-year.
• The country’s core inflation...