Markets & Industries
ECB expects eurozone economy to accelerate - 06/11/2021
The European Central Bank (ECB) expects a major acceleration of economic growth in the 19-country eurozone in the second half of this year, the governor, Christine Lagarde, said. Eurozone real GDP fell 0.3% in the first quarter of this year and was 5.1% down to its pre-crisis level for Q4 2019, she said. Various surveys and indicators hint at the possibility of a significant recovery in business...
Trade boom begins in China - 06/09/2021
Chinese exports were up nearly 28 per cent in dollar terms in May from a year earlier. Imports soared 51.1 per cent, a record since 2010. The trade surplus for the month was $45.5 billion. The country has embarked on a trade boom, Bloomberg wrote. Overseas demand for Chinese goods is rising as global economies emerge from months of isolation, fueling consumer spending. A strong recovery has...
WTO Trade Barometer shows rise across the world - 06/08/2021
China's trade surplus, however, still rose during the month from $43 billion to $46 billion. Most of the import dynamics is due to the low base effect, and the surplus growth looks quite low compared to previous years, notes Capital Economics. Overall, May saw a sharp increase in China's food imports, particularly soybeans (from Brazil, not the US, with whom a trade deal is in place), while oil...
OPEC speaks out on possible increase in Iran's oil production - 06/01/2021
OPEC expects Iran's future oil production growth to be transparent and orderly, keeping the market stable, OPEC Secretary General Mohammed Barkindo said in a statement on the organisation's website. "We anticipate that the expected return of Iranian (oil) production and exports to the world market will take place in an orderly and transparent manner, thereby maintaining the relative stability we...
Oil and agricultural commodities boost trade in G20 - 05/27/2021
Total G20 exports in the first quarter of 2021 rose 8 percent to $4.01 trillion from the fourth quarter of 2020, and imports rose 8.1 percent to $3.97 trillion, the OECD said. In the fourth quarter, these figures rose to 7.5% and 7.2% from the previous period, respectively. Trade growth in the first quarter of this year was fuelled, among other things, by higher prices for agricultural...
Goldman Sachs recognises bitcoin as an asset class - 05/26/2021
Matthew McDermott, head of digital assets at Goldman Sachs, noted the growing demand for cryptocurrencies among institutional investors. He wrote this in an email to Global Marco Research. The world's most popular cryptocurrency, Bitcoin, has become an investment asset that is now going through a phase of adoption. This is the belief expressed by McDermott. In a letter, he acknowledged the...
IEA calls for halt to investment in oil exploration and development - 05/25/2021
The International Energy Agency (IEA) is calling for an immediate halt to investment in exploration and development to achieve carbon neutrality by 2050. The IEA's call has been heavily criticised and called reckless. The IEA Net Zero 2050 report, which calls for a complete halt to investment in oil and gas projects to achieve carbon neutrality by 2050, has had a bombshell effect. Carbon...
UN: World trade volume restores after COVID crisis - 05/20/2021
The volume of global trade following the COVID-19 pandemic crisis recovered to a record level in the first quarter of 2021, up 10% year-on-year, according to a UN Conference on Trade and Development (UNCTAD) report released on Wednesday. "World trade volume recovered from the COVID-19 crisis to a record high in the first quarter of 2021, up 10% year-on-year and 4% quarter-on-quarter," the report...
Analysts: UK property prices show record jump - 05/20/2021
The average price of residential property in Britain rose 10.2% in March compared to the same period last year, amounting to £256,000 ($363,000). These figures were released on Wednesday by Britain's National Office of Statistics (ONS). This is the biggest increase in prices since August 2007. Prices rose the most in Wales (11%) and Scotland (10.6%), prices in England rose 10.2%, in Northern...
BofA survey: Inflation scares managers away - 05/19/2021
Portfolio managers of major investment funds have cited high inflation as a key risk with unpredictable consequences for the global economy. However, the Fed or the ECB have not yet started to tighten monetary policy, which is keeping investors' worries in check. Managers continue to actively invest in equities, favouring "value companies" that will be the beneficiaries of the ongoing global...
