Turkey has doubled its oil imports from Russia this year as the two countries are poised for greater cooperation in business and especially in energy trade. Trade between Turkey and Russia has boomed since the spring, as Turkish firms that have not been banned from doing business with their Russian counterparts have rushed to fill […]
Tag: International financial news
New Zealand: Central bank surprised by strength of inflation
Stronger inflationary pressures recently came as a surprise to New Zealand’s central bank, and is why the cash rate will rise to 4% earlier, according to monetary policy committee member Adam Richardson. “The inflation shock that’s happening around the world continues to spill over into domestic prices a bit more than we thought. What we […]
China: Cut lending rate to stem economic slowdown
China cut lending rates on Monday, reinforcing easing measures announced last week, as Beijing steps up efforts to boost credit demand in an economy battered by the property crisis and a resurgence of coronavirus cases. The one-year lending rate (LPR) fell 5 basis points to 3.65% at the central bank’s monthly rate, while the five-year […]
Fed: Economists predict interest rate hike of 50 bp. in September – Recession fears grow
The U.S. Federal Reserve will raise interest rates by 50 basis points in September amid expectations of a peak in inflation but also escalating concerns about an economic downturn, economists in a Reuters poll estimated, who argued that the risks to the economy point towards a higher peak of inflationary pressures. Inflation is still hovering […]
The US growing season begins with global food supplies at stake
Farmers from Nebraska to Ohio are heading into the final stretch of one of the most tumultuous growing seasons ever, with people nervously waiting to see if the U.S. corn and soybean harvests will be big enough to revive stocks that declined due to war and weather conditions, Bloomberg reports. A closely watched industry crop […]
Soltz: Putin started the war for ‘absolutely absurd’ reasons
German Chancellor Olaf Scholz accused Russian President Vladimir Putin of launching the attack on Ukraine for “completely irrational” reasons. “NATO has never been a threat to Russia,” he told the Chancellery Open Day, rejecting the charge that NATO states had failed to look after Russian security interests before the war. He had assured Putin in […]
Handelsblatt: Optimism in the markets could seriously disrupt the Fed’s monetary policy
The US Federal Reserve (Fed) has a problem: it wants to tighten monetary policy, but the markets don’t agree, Handelsblatt comments. Apparently, no later than August 10, many investors assumed that Fed Chairman Jerome Powell could once again take a more relaxed view of developments. Because it was on this very day that July’s US […]
Germany: Hambeck rules out nuclear power plants to save gas
German Economy Minister Robert Habeck ruled out extending the life of the country’s three remaining nuclear power plants to save gas, saying it would save no more than 2 percent of gas use, Reuters reported. That saving is not enough to make it worth reopening the debate on exiting nuclear power, given the consensus on […]
The energy crisis is also changing the Stability Pact
Of Tasos Dasopoulos The definitive end of the hard fiscal line advocated by the northern countries, and reflected in the current stability pact, brings, among other things, the burgeoning energy crisis which is expected to reach its peak in the coming months. For now, the world is watching on the one hand the leading power […]
‘Bell’ for German deposits: 2 out of 3 will not be able to save
The head of the association of German Savings Banks, Helmut Sleweis, expects the quadrupling of those who cannot save this year in autumn and winter. Helmut Schleweis chairman Helmut Schleweis told Welt am Sonntag: “We expect that, due to the significant price increase, up to 60% of German households will have to use their entire […]
