The U.S. Federal Reserve is likely to make its last major rate hike in September, paving the way for stocks to continue their rally in the second half, analysts at JPMorgan Chase said. “We expect another giant Fed hike in September, but after that we see the Fed not surprising markets again, on the hawkish […]
Tag: International financial news
UK: Incentives to use energy-intensive appliances off-peak
British authorities want to encourage consumers through discounts to prefer off-peak times to use their energy-hungry appliances, such as washing machines, in a bid to mitigate the risk of power outages. According to newspaper reports, partly confirmed by the national electricity network operator ESO, it is considering “rewarding” Britons who adopt such behaviors with discounts. […]
Bulgaria: Talks with Gazprom to restore gas flows are inevitable
Bulgaria should open a round of talks with Russian state energy giant Gazprom to resume natural gas flows that have been cut since April, the Balkan country’s acting energy minister said on Monday, after the government pledged to secure the necessary quantities ahead of winter, as reported by the Reuters agency. Rosen Hristov did not […]
Cyprus: New exploratory drilling after the discovery in Plot 6
The drillship “Tungsten Explorer” has now moved to the “Zeus-1” target, for a new exploratory drilling in Block 6 in order to more accurately estimate the quantities of natural gas in the block in question. According to the Cyprus Ministry of Energy, the consortium of Eni Cyprus Limited and TotalEnergies EP Cyprus BV and the […]
Bundesbank: Recession possible in Germany, inflation exceeding 10% not excluded
Germany’s central bank, the Bundesbank, sees a recession in the country as likely, while it expects inflation to be on the rise and could peak above 10% this fall. With its massive industry heavily dependent on Russian gas, Germany is among the most vulnerable to any disruption in energy supplies, and the increased costs are […]
Citi: Inflation could reach 18% in early 2023 in Britain
UK consumer price index to peak in early 2023 at 18% – nine times the UK central bank’s stated target. Bank of England – analysts at the US bank Citi predict as a possibility, based on the recent jump in energy prices. “The question now is what monetary policy can simultaneously reduce inflation without inflicting […]
New large gas field in Cyprus
LAST UPDATE 13:39 Energy companies TotalEnergies and Eni have announced a major natural gas discovery of up to 70 billion cubic meters in Block 6 (Cronos-1), offshore Cyprus. The Cronos-1 field, which is located approximately 160 km southwest of the coast of Cyprus and at a depth of 2,287 meters, showed several good intervals of […]
Britain: Fears of serious supply chain disruption due to strike at Felixstowe port
A strike over pay demands at the UK’s biggest cargo port will result in “severe disruption” to the supply chain, a Unite union spokesman said today. The eight-day strike, which began yesterday, Sunday, at the port of Felixstowe, in eastern England, “could end this afternoon if the employer agrees to meet us for real negotiations”, […]
With lowered thermostats, Europe will face Moscow’s energy war
Low thermostat and woolen socks: Europeans are bracing for a tough winter with Russian natural gas cut, after the Russian invasion turned the energy world upside down. On the front line, the Latvians have, since the end of July, no Russian gas at all and know what to expect in the coming months. “Energy prices […]
Germany: Exports outside the EU fell in July
German exports outside the EU fell 7.6% month-on-month in July, according to the statistics office, marking a weak start to the second half for Europe’s biggest economy. The decline comes after three consecutive increases. The economy stagnated in the second quarter, and Finance Minister Lindner said the economic situation in Germany was deteriorating and the […]
