Markets & Industries
Goldman Sachs, Morgan Stanley: Global economy is getting ready to recover - 05/06/2020
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...
Demand in gold market moves from consumers to investors - 05/05/2020
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...
Petrobras hits record oil export in April - 05/05/2020
Brazilian oil and gas company Petroleo Brasileiro (Petrobras) set a record for oil exports in April, pushing the bar to 1 million barrels per day, or up to 30.4 million barrels per month, the company said. "We exported 1 million barrels of oil per day in April. This is a new record. The previous record was set in December 2019 and amounted to 771 thousand barrels per day," the company’s statement...
Silicon Valley startups are downgrading their own estimates to receive investments, massive layoffs expected - 05/04/2020
The coronavirus pandemic and venture capital shortages are pushing leading young technology companies to attract new investments at a discount to their estimates. Silicon Valley is waiting for mass layoffs, experts warn. Leading young technology companies from Silicon Valley are lowering their own ratings in order to attract new investments amid the coronavirus pandemic and related economic...
IEA: Global demand for energy will collapse in 2020 - 05/01/2020
The global energy demand amid the pandemic will decline by 6% in 2020. It will be the strongest decline in consumption over the past 70 years, follows from a new forecast by the International Energy Agency (IEA). Demand for oil may fall by 9%, for coal - by 8%, for gas - by 5%. Simultaneously, carbon dioxide emissions will significantly decrease this year in the world. The COVID-19 pandemic has...
Investors pour money in oil ETFs - 04/30/2020
International investors are actively increasing their investments in oil. According to Emerging Portfolio Fund Research (EPFR), the respective funds have received $ 4 billion over the past week, and over $ 11 billion - over the past five weeks. However, these volumes are not enough to compensate for the falling oil demand due to quarantine measures taken around the world. EPFR data indicate a...
Head of Boeing expects slow recovery in the global airline industry - 04/28/2020
Boeing Co. CEO David Calhoun expects a slow recovery in the global airline industry. On Monday, Head of the American aircraft manufacturing concern outlined the sad prospects for world aviation, speaking at the annual meeting of shareholders. It does not imply a return of air travel volumes to the level of 2019 within two to three years, reports The Wall Street Journal. “The crisis (due to the...
Investors are leaving emerging markets as oil prices are falling - 04/28/2020
Last week, international investors withdrew the maximum amount of funds over five years ($ 7.3 billion) from the markets of developing countries. The risks of a recession in the global economy, as well as falling oil prices, are forcing investors to massively reduce investments in risky assets. At the same time, investments in protective assets — money market funds and precious metals — are...
Sicily to pay tourists 50% of air tickets cost after COVID-19 pandemic ends - 04/27/2020
The Sicilian authorities will pay tourists half the cost of air tickets, as well as part of the hotel bill within a new strategy to restore tourism on the island after the end of the coronavirus pandemic, Daily Mail reports. According to the publication, the new strategy for the development of tourism on the island implies that the regional authorities are ready to pay 50% of the cost of air...
Fitch analysts update coronavirus recession forecast - 04/23/2020
This year, the global economy will face the strongest recession in the post-war period. The figure will amount to 3.9%, follows from the updated macro forecast of the Fitch rating agency. The most visible drop will be noted in the euro area economies (minus 7%), the US economy will shrink by 5.6%, and in China, the growth will not reach 1%. Global GDP will decline by 3.9% this year, and will grow...
