Markets & Industries
UNCTAD: Cryptocurrencies become new tax havens - 08/18/2022
According to a study by UN Conference on Trade and Development (UNCTAD), cryptocurrencies help to muddle the tax base and undermine capital controls in emerging economies. UNCTAD analysts concur that cryptocurrencies weaken capital controls and the tax base in developing nations. The fact that crypto-asset payments are not governed by the same regulations as conventional financial assets makes it...
German industrialists: Drought and low water levels threaten supply security - 08/17/2022
Due to the shoaling of German rivers brought on by the drought, the Federal Association of German Industry (BDI) expressed concern about the logistics situation. "The supply security of industry is threatened by the ongoing dry season and low water levels. Businesses are getting ready for the worst. The already challenging economic environment for businesses is getting worse," Deputy CEO of BDI...
Number of operating oil & gas rigs falls in USA - 08/16/2022
Baker Hughes, an oilfield services provider, reports that the number of operating oil and gas rigs in the United States fell for the second consecutive week. Due to the fact that oil output is not anticipated to return to pre-pandemic levels until next year, there are issues with the building of drilling rigs. During the week of August 6–12, the number of active oil and gas rigs, the main...
IEA expects another oil price rally - 08/12/2022
Due to the high likelihood of supply disruptions, the International Energy Agency (IEA) does not completely rule out another price increase in the oil market in a monthly report. The IEA states that "further price rally (in the oil market) cannot be ruled out" given the significant chances of supply disruptions. The OPEC+ partners resolved to symbolically increase supply by 100,000 bpd in...
China raises the yuan to one-month high against the dollar - 08/11/2022
China increased the interim yuan-dollar exchange rate to a one-month high, according to Reuters. After the revelation of a lower-than-expected U.S. inflation rate, China pushed the intermediate yuan rate to a nearly one-month high versus the dollar on Thursday, which reflects the overall weakening of the American currency in global markets. The intermediate yuan-dollar exchange rate was fixed...
Taiwan: Current situation will have a negative impact on semiconductor market - 08/09/2022
According to Taiwan's official ambassador to France Wu Chih-chung, rising tension in the Taiwan Strait could complicate the global semiconductor market. He made this statement on Monday during an appearance on the BFM Business TV channel. "The production chain for semiconductors is a complicated one; if a dispute impacts manufacture of even one part of this technologically sophisticated product,...
Major U.S. companies increase capital investment - 08/08/2022
The allocation of funds for capital expenditures by large American businesses is increasing at a record pace, according to an examination of corporate reports from S&P 500 American companies by experts at S&P Dow Jones Indices, which quotes The Wall Street Journal. The number of money allocated to CAPEX surpassed the amount of funds allocated by corporations to repurchase their shares from the...
Global passenger air traffic grows by 76.2% in June - 08/05/2022
According to a statement from the International Air Transport Association, the amount of passenger air travel worldwide climbed by 76.2 percent in terms of yearly growth in June (IATA). Domestic passenger air traffic increased 5.2 percent, but international passenger air travel alone grew by 229.5 percent in June. IATA reports that the Middle East (216.8%) and Europe experienced the highest...
Global copper and nickel production fall in July - 08/04/2022
According to satellite data released on Wednesday, global copper smelting declined in July among reductions in China and South America, according to Reuters. According to a joint statement from Marex and analytical service provider SAVANT, a joint project between Marex and Earth-I that debuted in 2019, maintenance work at the Jinchuan and Jinjian-2 plants was partially to blame for the fall in...
US will restrict chipmakers from financing when expanding production in China - 08/03/2022
$52 billion in funding for chip production was approved by the US Congress. According to Bloomberg, a condition of the federal grant program for increasing chip manufacture in the United States is that companies seeking the funding agree not to grow their production of sophisticated chips in China. Leading chipmakers like Intel Corp. and Taiwan Semiconductor Manufacturing Co. (TSMC), who have...
