Sectors
Iran to sell crude oil to Asia on a huge discount in a bid to regain market share in the region
Next month, Iran is going to reduce prices for all its oil grades export to Asia, according to two people who knew the decision. There will be a reduction on the premium on its main light crude over the similar Saudi blend to the narrowest since the end of 2012 as reported by Bloomberg.
China deflation feared as producer prices fall anew
China faces risks of deflation, as manufacturers' selling prices fall for the 42nd consecutive month in August. The Producer Price Index (PPI) shed 5.9% from a year earlier, much worse than market expectations of a 5.5% decline.
Australian dollar recovers as unemployment figures went down
The Australian dollar has slightly recovered after Australian employers created more jobs than what economists forecasted last month, pulling down the unemployment rate. According to Bloomberg, the Australian dollar was at 69.70 U.S. cents as of 11:38 am in Sydney on Thursday, down by 0.7% from the previous day. It had been at 69.53 cents just before the statistics bureau announced the number of employed in Australia climbed to 17,400 in August. An increase of 5,000 jobs is expected by analysts, according to the median estimate in a Bloomberg survey. The rate for the jobless went down from 6.3% to 6.2 % in July.
Qualcomm aims to be the go-to chipmaker for drones with new Snapdragon Flight
Qualcomm has revolutionized the drones and now aims to be the go-to chipmaker for this technology with its latest Snapdragon Flight. Drones may have its legal issues, but it has come a long way as a consumer technology. Drones are now convenient, easy to use, and look slicker. Now, Qualcomm plans to take it up a notch with their new Snapdragon Flight, which runs with the processor that power most prominent smartphones in the world.