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9 06, 2023

Overseas Headlines – June 9, 2023


June 9, 2023   United States: Fed Seen Ending Its 15-Month Hiking Campaign in Economist Survey Most economists expect the Federal Reserve to pause interest-rate increases next week for the first time in 15 months and leave policy on hold through December, even as it confronts a resilient US economy and persistent inflation. The Federal

Overseas Headlines – June 9, 20232023-06-09T08:50:34-05:00
8 06, 2023

Overseas Headlines – June 8, 2023


June 8, 2023   United States: Nasdaq 100 Edges Higher as Jobless Claims Jump: Markets Wrap The tech-heavy Nasdaq 100 edged higher and Treasuries erased a drop after data showing US jobless claims surged more than expected last week. The jump in jobless claims to the highest since October 2021 shows that the labor market,

Overseas Headlines – June 8, 20232023-06-08T08:58:48-05:00
7 06, 2023

Overseas Headlines – June 7, 2023


June 7, 2023   United States: US Trade Deficit Widens to Largest in Six Months on More Imports The US trade deficit widened in April to the largest in six months as imports picked up and exports declined. The shortfall in goods and services trade grew by $14 billion, or 23% from a month earlier,

Overseas Headlines – June 7, 20232023-06-07T09:05:22-05:00
6 06, 2023

ISP reports Q1 net profit of $6.03 million


June 6, 2023   ISP Finance Services Limited (ISP) for the three months ended March 31, 2023: Net interest income marginally increased to $97.14 million (2022: $97.43 million) after interest expenses increased 93% to $13.77 million (2022: $7.12 million) and total interest income increased 6% to $110.91 million (2022: $104.55 million). Management noted that the increase

ISP reports Q1 net profit of $6.03 million2023-06-06T13:31:34-05:00
6 06, 2023

Overseas Headlines – June 6, 2023


June 6, 2023   United States: Goldman Lowers US Recession Probability to 25% After Debt Deal Goldman Sachs Group Inc. lowered its estimate of the odds of a US recession over the next 12 months to 25% based on waning banking-sector stress and the bipartisan agreement to suspend the nation’s debt limit. The move reverses

Overseas Headlines – June 6, 20232023-06-06T08:49:28-05:00
5 06, 2023

Overseas Headlines – June 5, 2023


June 5, 2023   United States: The Fed’s Interest Rate Strategy Is Getting Tricky as Plans to Skip a Hike Emerge The Federal Reserve’s June meeting is shaping up to be one of the trickiest in its 15-month campaign to tame inflation: Chair Jerome Powell seems intent on skipping an interest-rate increase, while explaining to

Overseas Headlines – June 5, 20232023-06-05T08:46:56-05:00
2 06, 2023

Overseas Headlines – June 2, 2023


June 2, 2023   United States: Yields Rise as Traders Bet on One Fed Hike by July: Markets Wrap Treasury yields climbed as a solid jobs report bolstered bets the Federal Reserve will have room for one more interest-rate hike by July. Stocks rose on speculation the economy is strong despite aggressive policy tightening. The

Overseas Headlines – June 2, 20232023-06-02T09:20:03-05:00
1 06, 2023

Overseas Headlines – June 1, 2023


June 1, 2023   United States: US Equity-Index Futures Waver as AI Rally Cools: Markets Wrap US equity futures fluctuated as the latest jobs data suggested the Federal Reserve has room for more tightening, while a rally driven by excitement over prospects for artificial intelligence-rated stocks cooled. Employment growth at US companies last month exceeded

Overseas Headlines – June 1, 20232023-06-01T09:00:03-05:00
31 05, 2023

LASD reports 33% increase in year-end net profit


May 31, 2023   LASCO Distributors Limited (LASD) for the year ended March 31, 2023: Revenue increased 14% to $26.56 billion (2022: $23.34 billion). For the quarter, revenue increased 16% to $6.92 billion (2022: $5.97 billion). Cost of sales increased 13% to $21.97 billion (2022: $19.46 billion). Consequently, gross profit increased 18% to $4.58 billion

LASD reports 33% increase in year-end net profit2023-05-31T09:47:44-05:00
31 05, 2023

Overseas Headlines – May 31, 2023


May 31, 2023   United States: Why Yellen Doesn’t Lose Sleep Over US Borrowing That Alarms Most Americans Whether they favor debt-limit brinkmanship or not, most Americans are alarmed by the level of US government borrowing. Treasury Secretary Janet Yellen isn’t one of them. Outstanding debt held by the public stood at $23.9 trillion as

Overseas Headlines – May 31, 20232023-05-31T08:49:46-05:00