Markets & Industries
Saudi Arabia Announced Condition of Reducing Oil Production - 12/03/2015
Saudi Arabia, OPEC's informal leader, is ready to cut oil production, provided that the same obligations will be incur by members of the cartel and those countries that are not included in the organization. Saudi Arabia, the informal leader of OPEC, has expressed its readiness to support a reduction in oil production. The country is ready to take such measures if other members of the cartel, such...
Car Sales in the US Head November Records - 12/02/2015
Usually, November sales of cars in the United States are weak. Yet, according to research firm Autodata Corp., this time, producers have raised in the belief that the year can be completed with record figures. According to a research published by US firm Autodata Corp., car sales in the US in November, was not as sluggish as usual this month. The reason for this were lower gasoline prices,...
The Chinese Renminbi Gets Into the IMF Currency Basket - 12/01/2015
The Board of Governors of the International Monetary Fund (IMF) yesterday approved inclusion of renminbi in the list of reserve currencies with a share of 10.92%. The currency’s neighbors are the US dollar, euro, British pound and Japanese yen. Each regulator will make its own decisions on renminbi to be included in its foreign exchange reserves. Overall, experts forecast that increase of the...
China Is On the Way to an Open Electricity Market - 11/30/2015
China has announced that its plans to terminate the state electricity distribution companies’ monopoly, allowing end-users themselves to discuss the price directly with generating companies. The website of the main state economic planning agency announced that Chinese generating companies will be able to sell electricity to consumers through regional trade platform. Under this plan, companies...
China May Ban Short Selling of Metals - 11/26/2015
China may start buying up metals to fill in strategic reserves and to impose a ban on short selling in the futures market. With the request for buying metals to the country's authorities asked the Chinese manufacturers of aluminum and nickel, according to Reuters citing sources familiar with the situation. Against the background of these messages, the morning trade session in Asia witnessed a...
US Companies Spent Record $ 517 Billion on Buybacks - 11/24/2015
This year, total expenses of American companies to repurchase stocks may hit a record since the financial crisis. For the first three quarters, they have already spent $ 516.72 billion, estimates an analyst firm Birinyi Associates. It promotes the growth of stock prices, yet some investors have already criticized such a policy. "They invest too much in stock repurchases and too little - in a...
London: Foreign Riches Are Leaving the Housing Market - 11/20/2015
Asian and Russian buyers, which once accounted for a third of all buyers of elite real estate in London's districts, left the market this year. This happened due to depreciation of currencies in emerging markets against the pound sterling. Properties in elite areas such as Kensington, where the average house price is £ 1,5 million, in recent years have been very popular among wealthy foreign...
Gartner: The Smartphone Market Continues to Grow - 11/19/2015
Analyst firm Gartner published a report on the global smartphone market. According to experts, about 353 million units were purchased in the III quarter of 2015, which is 15.5% more than last year's number of 305 million units. Emerging markets considerably surpassed these developed by the growth dynamics. Smartphone sales increased by 18.4% on the first, having reached 259.7 million units....
Why Yuan Cannot Settle in London - 11/18/2015
The British authorities are trying to turn London into the main center of renminbi operations across all the West. However, although pace of renminbi trade is rising, shops and banks are in no hurry to convert business in the Chinese currency. Xiao Tian, 38-year-old top manager of an advertising company in East China, was pleasantly surprised when saleswomen at expensive stores on Oxford Street...
Chinese Scams Fabricate Cryptocurrency Branded JP Morgan - 11/17/2015
Recently, a shady cryptocurrency deal was discovered. The fraud involved JPMorgan bank, under which brand scammers allegedly produced cyber coins JPMCoin, and Morgan Dollars. In a statement posted on the Chinese website of the bank, JPMorgan has denied any involvement in a virtual currency, the Chinese distributed among users of social networks: "JPM Coin is not affiliated with JPMorgan Chase,...
