All about economy and other interesting article

Bitcoin plummeted just hours after setting yet another record

Bitcoin fell to as little as $14,095.62 Friday morning after 6:30 a.m. ET, according to industry site CoinDesk. This has been an almost 18 per cent decline from earlier highs on the afternoon of $17,153.94, in accordance with your website, that averages prices from leading buys. Actually, Bit-coin had actually rocketed above $19,000 on Thursday on the Coinbase exchange. The digital money reach a high of $19,340 on that platform before notching a massive reduction. The price on Coinbase, among the significant cryptocurrency exchanges accounting for a third of Bit-coin trading volume, can be in a premium over other platforms.

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Chinese exports surge more than forecast

China's exports surged more than double the anticipated speed a month, official data showed yesterday, because tensions with its largest trading spouses flare. The healthful exchange data is welcome news to the world's No. 2 economy as Beijing looks to tackle industrial overcapacity, winter pollution and also a ballooning debt pile. Exports jumped 12.3 percent to US$217.4 billion (S$294 billion), blowing beyond the 5.3 percent forecast in a Bloomberg News survey. The robust international economy - both the developed and developing economies - has increased China's exports.

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Singapore top destination for China investments

Singapore has passed the United States to emerge as the top destination for overseas investments from China, based on a new report out yesterday. It discovered that the US dipped into second spot with Hong Kong second, subsequently Malaysia and Australia. The report from The Economist Intelligence Unit (EIU) covered the auto, consumer goods, energy, financial services, telecommunications and healthcare industries. It noted: Malaysia and Singapore stand out as enticing BRI (Belt and Road Initiative) destinations, providing an expenditure environment that offers opportunities as well as low degrees of risk.

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Consumer slump clouds Aussie economic growth

Australia's economy expanded at the fastest annual pace in over a year past quarter, thanks to a long-awaited jump in industry investment, but worrying weakness in household spending throw a cloud over the outlook for growth. Yesterday's data from the Australian Bureau of Statistics showed that gross domestic product (GDP) rose by 0.6 per cent in the third quarter, slowing from the previous quarter when it climbed 0.9 per cent. The end result just missed market forecasts of growth of 0.7 per cent for that quarter, and also nudged the area dollar down a quarter of a cent to US$0.7580.

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Shell opens lubricants plant in Tuas, among world's largest

Energy giant Shell has opened a lubricants plant in Tuas that is among the planet's largest and will boost Singapore as a globally competitive area for the industry. Minister for Trade & Industry (Industry) S Iswaran said Shell's investment in the new plant has been a clear demonstration of the organisation's continued confidence in Singapore as a location for high valueadded E&C (chemicals and energy) manufacturing.

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Donald Trump nominates Jerome Powell to head US Federal Reserve

President Donald Trump on Thursday (Nov 2) exploited Fed Governor Jerome Powell to become leader of the US central bank, promoting a soft-spoken centrist to replace Janet Yellen after her term expires in February 2018. Powell, made to the Fed board in 2012 from then-President Barack Obama, emerged as Trump's choice by a five-person record of possible nominees that included Yellen as well as other people who would have represented a sharp change in monetary policy.

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