Markets & Industries
Saudi Arabia is trying to keep oil prices from falling - 06/27/2019
Saudi Arabia has reduced oil production below its quota and insists on restricting production by other OPEC members, writes The Wall Street Journal (WSJ), citing officials of the kingdom and the cartel. Weaker demand for oil as a result of a slowdown in the global economy leads to a decline in prices, despite the threat of supply disruptions from the Gulf countries. According to Saudi officials,...
WTO: Trade barriers are growing higher - 06/25/2019
From the middle of October 2018 to the middle of May 2019, the G20 countries introduced 20 new trade restrictions, including increased duties, import bans and export restrictions (there were 40 of them 40 over the previous six months). According to the WTO report published yesterday, the volume of imports affected by these measures was 3.5 times higher than the average figure since May 2012 and...
Bain & Co: Global luxury sales will jump in the coming years - 06/21/2019
The global market for luxury clothing, shoes, watches and accessories will be growing in the coming years, Bain & Co and the Italian association of luxury goods manufacturers Fondazione Altagamma’s report said. In 2019, it will increase by 4–6% to €271–276 billion, and will have reached €320–365 billion by 2025. Thus, the market for luxury goods in six years could double compared with 2011....
US Congresswoman Waters: We cannot allow Facebook Libra to compete with the US dollar - 06/21/2019
Member of the US House of Representatives Maxine Waters stated for the second time that Facebook should suspend development of its Libra digital currency so that US regulators have time to research the nature of the new chain. “They must stop immediately so that we can sort it out… We must protect our customers. We cannot allow them to just go to Switzerland along with their partners and start...
Australia earns $ 30.4 bln on Chinese tourists - 06/20/2019
Number of foreign tourists visiting Australia reached 8.5 million in the 12 months to March 2019, while China remains the largest source of tourists, reports Xinhua news agency. The total number of tourists increased by 3% compared with the previous year. The amount they spent grew by 5% to 44.3 billion Australian dollars ($ 30.4 billion), showed data of Tourism Research Australia (TRA)....
Bank of England predictably keeps the rate unchanged - 06/20/2019
At the end of the June meeting, the Bank of England has not changed the base interest rate, leaving it at 0.75%. In addition, the bank kept the volume of the program of purchasing government bonds at £435 billion ($ 553.3 billion) and the volume of purchases of corporate bonds at £10 billion. All decisions of the bank coincided with market expectations and were taken unanimously by all members...
Share of cash in global investors portfolio is growing - 06/19/2019
The stock of cash in portfolios of international investors has been growing at a record pace over the past eight years. The share of cash reached 5.6%, and this is the maximum value since the fall of 2016. The increasing risks of a trade war between the United States and China are forcing investors to reduce investments in risky instruments. The released liquidity is transferred into debt...
Is it worth to bet on meat alternatives? - 06/18/2019
Tyson Foods, the largest producer of meat products in the USA, is entering the market of vegetable protein that imitates meat. Currently, the products will be of mixed type: the hamburgers will be made from a mixture of Angus beef and pea protein. The products will be marketed under the brand Raised & Rooted. It is expected that this fall the products will appear on the shelves of two large...
Bitcoin jumps over $ 9000 for the first time in a year - 06/17/2019
Bitcoin rate on Sunday rose above $ 9000, which happened for the first time since May 2018. According to CoinDesk, price of the cryptocurrency on June 16 reached $ 9385. On Monday, Bitcoin is trading at $ 9141.17. Bitcoin has risen in price by more than 22% in the last 30 days and by 142% since the beginning of 2019, writes MarketWatch. However, the cryptocurrency’s rate is still significantly...
Experts: Venezuelan oil export nearly stops - 06/13/2019
US sanctions against Venezuela resulted in additional drop in production by 35% since the beginning of the year, experts at the Washington Institute of International Finance estimated. Recall that in late January, the United States banned transfer of funds from the United States to the accounts of the main state-owned oil company Petroleos de Venezuela, Sociedad Anonima (PDVSA), effectively...
