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Chinese CB pumps 100B yuan in the the system to avoid liquidity crisis

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The Chinese central bank pumped another 100 billion yuan into China’s banking system on Monday. It has been reported by the state Xinhua media. The interest rate on the 14-day reverse repos is 2.35 percent, according to the People’s Bank of China. There are serious concerns about the Chinese financial system due to the impending demise of property developer Evergrande, which is...

Asian service economies fall in the red zone

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The Japanese service sector shrank in August. This was revealed on Friday by final figures from Markit. The index measuring the activity of the country’s services sector reached 42.9 in August, compared with 47.4 in July. This is the sharpest decrease since May 2020. Earlier this week, the Purchasing Managers Index for Japanese industry also decreased in August, from 53.0 in July to 52.7...

A post-COVID paradox: some jobs are in high demand, but the average job creation rate is weak

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Employment in the US business sector continued to grow less than expected in August. New figures from payslip processor ADP indicate that many companies continue to have difficulties in finding staff as the economy picks up again and the demand for additional employees increases. According to ADP, only 374,000 new jobs were created in business in the United States last month. Economists expected...

Industry Prize winners are announced – here is the list

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Winners of the prestigious “Industry Prize” and the “Aryeh Shenkar z”l Life Achievements in Industry Prize” come from a wide variety of backgrounds. Winners of the prestigious “Industry Prize” and the “Aryeh Shenkar z”l Life Achievements in Industry Prize” have been announced. Out of nine recipients, four are women and three are from...

The number of homes under construction fell by 7 percent

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The number of homes under construction in the United States fell further than expected in July, but there were more permits than expected. This was shown on Wednesday by figures from the US government. In July, the number of homes under construction decreased by 7.0 percent on a monthly basis to 1.534 million homes on an annualized basis. Economists expected an average decrease of 3.2 percent in...

New Chinese competition rules make Alibaba and Tencent a scary investment

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China has tightened the rules for internet companies in an attempt to stop unfair competition. This was shown on Tuesday by draft documents from the supervisor, according to local media. It is mainly about how companies are allowed to handle user data. Among other things, the use of fake reviews is restricted and the removal of negative reviews should no longer be allowed. The use of algorithms...

German industry stagnated in June

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German industry production decreased again in June compared to the previous month. This was shown on Friday by figures from Destatis, the German statistical office. Production, adjusted for seasonality and working days, was 1.3 percent lower in June than in May. And in May, it was already a 0.8 percent decrease. Before June, economists had expected a small increase in production. On an annual...

Israeli poor and disabled will get one billion shekel relief payment

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State budget will provide millions of shekels for survivors of domestic violence, those with disabilities, food security, welfare dormitories, senior citizens, Holocaust survivors, and more. The new budget will increase the Social Affairs Ministry’s budget by a billion shekels to NIS 10 billion. Hundreds of millions of shekels will be added for much-needed welfare programs after Israel has been...

“Slightly less strong” is the new euphemism for the economic stagflation

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The euro is down on Wednesday, after the Purchasing Managers Index for the services sector in the Eurozone was revised downwards by IHS Markit in July. The index went from an initial estimate of 60.4 to a definitive 59.8 in July. This was still an increase from 58.3 in June and well above the level of 50 which marks the dividing line between growth and contraction. Growth was “slightly less...

Chinese industrial production slows down in July

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The Chinese industry grew only slightly in July. This was shown on Monday by figures from Markit Economics. The industry index fell from 51.3 in June to 50.3 in July. This is the lowest level in 15 months and only indicates growth. This weekend, the Chinese government set its own measurement for the Industrial index at 50.4, compared to 50.9 in June, a growth slowdown that has continued for four...

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