The Saudi Arabian Monetary Authority, the Central Bank of Saudi Arabia, will send 50 billion riyals ($ 13.3 billion) to the country's banking system to help combat the effects of the coronavirus pandemic COVID-19 and falling oil prices. The central bank will support financial stability and expand lending opportunities for the private sector, reads its statement. This step aims to help banks...

France should become Europe's leader in electromobility, said President Emmanuel Macron. The authorities want to expand the network of charging stations and increase the output of electric vehicles and hybrids to 1 million per year. France will direct over €8 billion to support its automotive industry. The authorities intend to turn the country into a European leader in electric mobility, said...

The fight against the pandemic will result in a sharp increase in the global debt burden. In absolute terms, the total debt of governments, corporations, households and financial institutions will grow by almost a third by 2025 - up to $ 325 trillion, Washington Institute of International Finance (IIF) expects. Three quarters of this growth will be provided by the United States and China: in both...

Global demand for oil in the second quarter of this year will not sink as much as expected as countries are lifting lockdowns faster than previously thought, follows from the May forecast of the International Energy Agency (IEA). According to his experts, the reaction of oil producers to falling prices was more pronounced than it could be, which resulted in a reduction in supplies, including by...

Trade advisers recommend that senior Chinese officials terminate the “first phase” of the US deal because of an ongoing anti-Chinese campaign demanding that China be held accountable for the Covid-19 pandemic. Beijing regards the agreement, concluded on January 15, as a concession made in order to achieve a ceasefire in the 22-month tariff war. However, the US administration and several other...

U.S. court ordered Telegram to inform the US Securities and Exchange Commission on any assets transferred to buyers of Gram tokens. The company will also need to provide data on contacts with customers related to cancellation of the initial placement of cryptocurrency. The Federal Court of Southern District of New York State ordered Telegram’s owner Pavel Durov to transfer inform the US...

China's exports in April showed unexpected growth, up 3.5% after falling in the first quarter. At the same time, imports sank even more than in March - by 14.2%, according to foreign trade statistics. Experts believe that export support was provided by orders for medical products, but in the future, China will face the consequences of weakening external demand. In April, China's exports grew by...

Economists at U.S. investment banks Goldman Sachs and Morgan Stanley believe that the global economy has begun to show signs of gradual recovery. In the analytical reports for investors, they said that this was due to the gradual weakening of quarantine measures in some regions of the world that were introduced earlier to combat the COVID-19 coronavirus pandemic. “Economic activity is starting to...

The coronavirus pandemic has dramatically changed the global demand structure for gold. In the jewelry industry, amid falling sales of jewelry, primarily in India and China, gold is now almost unnecessary. At the same time, professional investors are actively increasing their purchases amid expectations of rising inflation and a global recession. According to the World Gold Council (WGC), in the...