Economy News

Economy

President Trump Firm on Tariff Deadline: No Extensions Beyond August 1, 2025

President Donald Trump has firmly stated that the deadline for new reciprocal tariffs will not be extended beyond August 1, 2025, reversing his earlier hints at flexibility. This m...

Economy

U.S. to Impose 200% Tariff on Pharmaceuticals After One-Year Grace Period, Trump Announces

U.S. President Donald Trump announces a 200% tariff on pharmaceuticals after a one-year grace period, with potential exemptions for semiconductors and a 50% tariff on copper. The m...

Economy

Singapore Announces Generous Cash Payouts and MediSave Top-Ups for Over 1.5 Million Eligible Citizens

Singapore is set to provide cash payouts of up to S$850 and MediSave top-ups for over 1.5 million eligible citizens, including seniors, as part of the GSTV scheme adjustments to re...

Economy

BoE Report: UK Firms Show Resilience Against Potential Higher Tariffs and Global Shocks

The Bank of England's latest report underscores the resilience of UK firms against higher tariffs and global economic shocks, with the banking sector also showing flexibility in mo...

Economy

German Chancellor Merz Confident in EU-US Trade Deal Success by Late July

German Chancellor Friedrich Merz expresses confidence in reaching a trade agreement between the EU and the US by July's end, aiming for minimal customs duties. Discussions with US ...

Economy

Singapore's Luxury Market Soars: A $10.9B Forecast Driven by 242,000 Millionaires

Singapore's luxury market is booming, with sales forecasted to reach $10.9 billion, driven by its affluent population. Brands are expanding their presence, making Singapore a key p...

Economy

China's Inflation Sees a Slight Rebound in June, Signaling Economic Resilience

China's CPI rose by 0.1% in June, reversing May's decline, with PPI falling by 3.6% year over year. The data aligns with market expectations, showing signs of economic stabilizatio...

Economy

US Escalates Trade War: 20 New Tariff Letters to Be Sent, Says Commerce Secretary Lutnick

US Commerce Secretary Howard Lutnick announces the Trump administration's plan to send 15-20 new tariff letters, signaling an escalation in trade negotiations. The copper tariff is...