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Elite Economy

A collection of 13 posts

SoftBank Pioneers Digital Salary Payments: A New Era for Payroll in Japan

The introduction of digital salary payments aligns with Japan's broader push towards cashless transactions, which gained momentum after the government approved such payments in April 2023

GOLD MARKET: August 2024 Overview and September 2024 Outlook

GOLD MARKET: August 2024 Overview and September 2024 Outlook

A monthly digest by the global broker Octa August has been a truly historic month for gold (XAU). Despite starting off at an already elevated level after more than a 5% increase in July, gold prices continued to move higher for most of August, setting a new all-time high of

Spain's Antitrust Authority Imposes €413 Million Fine on Booking.com for Antitrust Violations

Elite Economy Featured

Spain's Antitrust Authority Imposes €413 Million Fine on Booking.com for Antitrust Violations

Specifically, the investigation revealed that Booking.com enforced a price clause preventing hotels from listing their rooms on their own websites for less than the prices offered on the Booking.com platform

Japan's Economy Contracts in Q2, Raising Concerns About Growth Prospects

Japan's Economy Contracts in Q2, Raising Concerns About Growth Prospects

Economists at BNP Paribas and SMBC Nikko Securities have slashed their growth projections for Japan in 2024, predicting the first annual contraction since the pandemic in 2020.

EU Approves €1.3 Billion State Aid for Scandinavian Airlines

SAS has faced considerable financial difficulties in recent years, culminating in collective insolvency proceedings in late 2022. Despite previous state support totaling approximately €833 million approved in 2020, the airline struggled to achieve a turnaround.

Singapore's Q2 GDP Surpasses Expectations, Signals Economic Resilience

On a quarter-on-quarter basis, manufacturing grew by 0.6%, a notable recovery from the 5.3% contraction in the previous quarter. This resurgence in manufacturing is a positive indicator for Singapore's export and GDP

Elite Economy Featured

Yellen’s Recent China Visit: Navigating Trade Tensions and Clean Energy Talks

As Yellen wraps up her trip, the verdict remains nuanced. While her efforts to soothe strained relations are commendable, uncertainty still looms. The delicate dance between economic cooperation and geopolitical tensions persists.

Elite Economics

Eurozone Inflation Trends: European Central Bank Delay The Interest Rate's Cut

Core inflation—a critical gauge—followed suit, descending to 3.4% by December. Services prices, though more reluctant, eventually joined the descent. The ECB’s resolute actions bore fruit, albeit cautiously.

Singapore Must Pursue Transformation To Achieve Productivity Growth Targets

This requires continual transformation, he said, adding that firms must learn new ways to do business, workers must learn new skills and embrace new technologies, and new sectors must replace declining industries.

Record High Global Debts in 2023: A Looming Crisis?

Developed nations—such as the United States, Japan, the United Kingdom, and France—have been primary contributors to this ballooning debt. Their borrowing spree, fueled by low interest rates and pandemic-induced spending, has propelled the world into uncharted territory.

Laos Faces Mounting Debt Crisis Amid China’s Influence

Laos Faces Mounting Debt Crisis Amid China’s Influence

China is funding ambitious infrastructure projects, most notably the China-Laos railway. This railway, a symbol of connectivity and progress, has become both a lifeline and a potential albatross for the Laotian economy.

UK: Economic Woes Worsen, Gov Slashes Spending to Finance Tax Cuts

The Bank of England has projected a slight improvement in output in 2024, but only to a meagre 0.25% growth rate. Despite this, the government has been advised to focus on public investment rather than reckless tax cuts.

Japan’s Recession: How the Government and the BOJ Are Trying to Revive the Economy

The Bank of Japan has been persisting with its negative interest rate policy, but the disappointing GDP figure has cast doubt on the bank’s strategy of stimulating inflation through domestic demand.