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Economics Gazette

Economy and Business news

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November 17, 2019

Trade

Hong Kong housing sales

Hong Kong housing sales have risen by 34% in February

Hong Kong housing sales have risen by 34% year-on-year in February, although the month is traditionally weaker for the property market. On a monthly basis, the sales grew by 4%, while those for luxury market segment of over 10 million HKD rose by 26% mom and 55% yoy. The Hong Kong housing prices keep their

Francois-Philippe Champagne

Canada called to keep up the pillars of the world trade

While the US and China are approaching a trade war, Canada has called on all countries to work to keep up the pillars of the world trading system. “We must take care of the organizations that are the cornerstone of the global economic order”, said the Canadian Trade Minister Francois-Philippe Champagne. Speaking after several days

China trade

China promised retaliatory action against Trump’s trade duties

China protests sharply against US President Donald Trump’s decision to announce new trade measures against the country, which “will lead to market imbalances”, and warned that would take action. This was the official statement of the Chinese Ministry of Commerce. The White House announced earlier the Donald that Trump will sign a Presidential Memorandum on

British retail sales

British retail sales rose sharply in February

British retail sales rose sharply in February, although the doubts about consumer demand remain and the Central bank of England is considering when to raise interest rates before Brexit. The UK retail sales grew by 0.8% mom in February, reported the National Statistical Service. The result is above the consensus forecast of the economists for

Steven Mnuchin

USA is not afraid of a trade war

The US Treasury Secretary Steven Mnuchin assured yesterday that his country is not afraid of a trade war, while specifying that it is not its goal. “We must be prepared to intervene to defend the interests of the United States to protect a fair free trade”, said Steven Mnuchin said at a press conference at

trade

Trump’s attempt to destroy the World Trade Organization

Europe has concerns that the US President Donald Trump’s desire to impose duties on imports of steel and aluminum is just the beginning. The EU’s biggest fear is that Trump’s ultimate goal is to kill the World Trade Organization and abolish the current rules that underlie global trading networks. The European Trade Representatives say their

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