Markets & Industries
Will electric cars save the planet? Perhaps, but not now - 06/07/2016
In its new report, the International Energy Agency (IEA) says that number of electric vehicles reached 1.26 million throughout the world in 2015. Currently, there are 400 thousand EVs in the US, which is a sharp rise compared to 2010. However, this is much less than indicated by President Obama's target of 1 million electric cars by 2015. Meanwhile, China has become the largest sales market for...
Saudi Arabia raised oil prices in Asia and the US - 06/06/2016
State Oil Company of Saudi Arabia, Saudi Aramco raised its selling prices for almost all varieties of petroleum supplied to Asian countries and the USA. 80%-growth of oil prices since the beginning of the year hinted Riyadh that it will remain the largest exporter in the world, even by raising the raw materials prices. Saudi Aramco raised the price for almost all of its oil varieties delivered to...
Payday loans to be exiled from the US - 06/01/2016
June 2, US Consumer Financial Protection Bureau (CFPB) will unveil its proposals for regulation of the microfinance industry. Its suggestions will not affect interest rate (the Dodd-Frank Act prohibits such restrictions). However, the regulator is likely to introduce new and more stringent rules, which may lead closing of a considerable part of the sector. Approximately 12 million Americans take...
Green energy investments are at the height - 06/01/2016
At the end of 2015, investments in alternative energy and introduction of new generating capacity throughout the world reached a new record. Experts note that the interest in alternative energy has not decreased, even against the background of the fallen oil prices. One-third of the world's investment in alternative energy sources has come from China. ‘Renewables 2016 Global Status Report’ was...
Another airline stopped flying to Venezuela due to the crisis - 05/31/2016
South-American company LATAM Airlines became another air carrier, stopped flying to Venezuela because of the difficult economic situation in the country. «LATAM Airlines suspends indefinitely its activities in the airport of Caracas", - said the carrier in a statement. For years, international airlines have fought for conversion of their income from the Venezuelan bolivar into a strong...
Citigroup: Saudi Arabia is the most promising market now - 05/30/2016
The large-scale privatization, planned by Saudi authorities, is already making the country the most promising direction for investment banks in the developing markets. This opinion was expressed by a Citigroup’s expert. Head of investment banking division of Citigroup bank in the Middle East Omar Iqtidar told to Bloomberg that the transformation plan of the Saudi economy and its move away from...
Ernst & Young to auction off 24.5 thousand bitcoins in Australia - 05/30/2016
In late June, financial company Ernst & Young will hold in Sydney an auction to sell approximately 24.5 thousand bitcoins confiscated by law enforcement agencies from the criminals. Meanwhile, the rate of digital currency has grown by more than 10% and hit a 20-month high in the past two days. Now, Bitcoins on the stock exchanges are traded in the region of $ 530 mark. At the end of June,...
France is on the verge of fuel crisis - 05/25/2016
France seems to be on the verge of a fuel shortage thanks to protests against labor reform. The protesters blocked work of six of the eight refineries in the country. In the course of operations to unblock a refinery in Fos-sur-Mer, protesters threw various objects at police and burned tires, reported in the local prefecture. In response, police used tear gas and water cannons. According to the...
Protective US duties brought down the Chinese market - 05/23/2016
Once the administration of US President Barack Obama sharply increased import tariffs on steel from China, the investors got very agitated. Chinese commodity market is experiencing a serious crash, yet reaching the bottom still may take a lot of time. The cost of iron ore and steel reinforcement fell by 7% in just one trading day. Experts have long warned China that the overcapacity would...
Credit card debt in the US is approaching pre-crisis levels - 05/23/2016
In 2016, outstanding credit card debt in the US could reach $ 1 trillion. Thus, the debt level is approaching the record plank of 2008 – then, the debt reached $ 1.02 trillion. According to experts, the growth of debt on credit cards indicates stabilization of the economy and increasing consumer confidence. On the other hand, this rate is also influenced by aggressive policy of banks issuing...
