U.S. consumer prices rose 3.4% in April from a year earlier
On May 15, the data released by the US Department of Labor showed that the US consumer price index (CPI) in April rose 0.3% from the previous month and 3.4% from the same period last year, which was in line with market expectations. Data show that the United States CPI in April and year-on-year growth compared with March data have fallen. Excluding volatile food and energy prices, core CPI rose 0.3 per cent month on month and 3.6 per cent year on year, the smallest increase since April 2021.
Mexico’s central bank left interest rates unchanged at 11%
Mexico’s central bank has left interest rates unchanged at 11%, eliminating the possibility of a second rate cut in a row. Twenty-eight of 30 economists surveyed by Bloomberg expect Mexico’s central bank to keep its benchmark rate unchanged at 11%, with two expecting another quarter-point cut.
On May 16, the offshore RMB depreciated against the dollar, appreciated against the euro and was unchanged against the yen
The offshore RMB exchange rate against the US dollar slightly depreciated, the offshore RMB exchange rate against the US dollar was 7.2201, compared with the previous trading day’s close of 7.2159, depreciating 42 basis points.
The offshore RMB exchange rate against the euro slightly appreciated, the offshore RMB exchange rate against the euro was 7.8459, compared with the previous trading day’s close of 7.8509, an appreciation of 50 basis points.
Offshore RMB to 100 yen unchanged, offshore RMB to 100 yen exchange rate of 4.6600, compared with the previous trading day close of 4.6600, no change.
On May 16, the onshore RMB weakened against the dollar, rose against the euro and was unchanged against the yen
The onshore RMB weakened slightly against the US dollar, the onshore RMB against the US dollar exchange rate of 7.2184, compared with the previous trading day’s close of 7.2176, weakening 8 basis points.
The onshore RMB strengthened slightly against the euro, trading at 7.8426, up 117 basis points from the previous close of 7.8543.
The onshore RMB exchange rate to 100 yen was unchanged, the onshore RMB exchange rate to 100 yen was 4.6600, compared with the previous trading day’s trading price of 4.6600, no change.
On May 16, the central parity rate of the RMB strengthened against the US dollar and depreciated against the euro and the yen
The RMB strengthened slightly against the US dollar, with the central parity rate of the RMB to the US dollar at 7.1020, up 29 basis points from 7.1049 in the previous trading day.
The RMB depreciated sharply against the euro, with the central parity rate of the RMB to the euro at 7.7498, down 369 basis points from 7.7129 in the previous trading day.
The RMB weakened sharply against the 100 yen exchange rate, with the central parity rate of the RMB to the 100 yen at 4.6241, down 565 basis points from the previous trading day’s 4.5676.
IMF: Asia-Pacific economy expected to grow 4.5%
Recently, the International Monetary Fund (IMF) released a regional economic outlook report in Singapore, predicting that economic growth in the Asia-Pacific region will slow from 5% in 2023 to 4.5% in 2024, contributing to about 60% of global economic growth. “With inflation easing and resilient growth, the Asia-Pacific region is nearing a soft landing,” the IMF said in the report.
Italy’s industrial production index fell 0.5% month-on-month
Recently, the Italian stock statistics Bureau data show that in March 2024, after adjusting for seasonal factors, the Italian industrial production index fell 0.5% month on month and 3.5% year on year. On a month-on-month basis, among the major industry categories, only energy saw growth (+1.7%), while intermediate goods (-0.1%), consumer goods (-0.6%) and capital goods (-3.8%) declined.
Cambodia plans to introduce a development policy in the field of electric vehicles
Recently, the Cambodian Financial Policy Committee held a meeting to discuss the draft content of the Development Policy in the field of Electric Vehicles (2024-2028). Cambodia has an “ambitious plan” to increase the number of electric vehicles from about 1,000 now to more than 750,000 by 2030 (70% of which are electric motorcycles). By 2050, the number of electric vehicles will increase to 8.8 million.
TikTok Shop plans to launch five sites in Germany, Italy, France and Mexico
TikTok has revealed that it is launching TikTok Shop in five countries: Germany, Italy, Spain, France and Mexico. Once these five sites are officially launched, TikTok Shop will have 13 sites worldwide. However, according to the official TikTok Shop page, as of now, it only shows the existing sites in the United States, the United Kingdom, Indonesia, Thailand, Vietnam, Singapore, the Philippines, and Malaysia.
Falabella’s first-quarter revenue rose 4.2% from a year earlier
Recently, Falabella announced the first quarter of 2024 financial results. Falabella reported revenue of $3.057 billion in the quarter, up 4.2% from the same period last year. Net income amounted to $59.55 million, compared to a net loss of $5.78 million in the same period last year. In terms of net profit for the whole of last year, this figure is only $65 million. Arguably, Falabella made as much profit in the first quarter of this year alone as it did in all of last year.
MSC reintroduces $10,000 diamond rate
Mediterranean Shipping (MSC), the world’s largest shipping line, has reintroduced the Diamond Tier, a rate for guaranteed shipping space, which was introduced during the pandemic. Specifically, the new rates of $8,000 per large box (40-foot container) in the West and $10,000 in the East will be in effect from May 15 to 31.
Evergreen Shipping’s revenue rose 42.4% in April from a year earlier
Recently,Evergreen Shipping announced April results, in April 2024 to achieve operating income of NT $31.83 billion (about US $980 million), an increase of 42.4%. In the first four months of 2024, Evergreen Marine achieved a cumulative operating income of NT $120.45 billion (about US $3.80 billion), an increase of 35.1% over the same period last year.
Microsoft will invest 4 billion euros to develop data centers in France
Microsoft has announced a €4 billion investment in a data center in France. Microsoft President Brad Smith said the move is aimed at strengthening its artificial intelligence and cloud computing infrastructure and is the company’s largest investment in France since entering the country. A new data center will be built in eastern France, and existing data centers in the Paris region and the southern city of Marseille will be expanded.
Byd will launch its first new energy pickup truck in Mexico
Recently, BYD announced the release of its first pickup truck model “BYD SHARK” through the official Weibo official, which will be launched in Mexico. At the same time, BYD also shouted out the slogan of “fierce shark debut” and “open the era of global new energy pickup trucks”. Due to market analysis, product layout and other factors, the current BYD official has not disclosed the domestic listing plan for BYD SHARK.
Gorilla diplomacy
Malaysia plans to give orangutans as part of its diplomatic efforts to countries that buy palm oil. Orangutans are known for their red fur and their name means “people of the forest” in Malay. They are so rare that they are listed on the IUCN Red List of Threatened Species. Malaysia is one of the few countries with a habitat for orangutans.
