China has significantly increased its influence in major international organizations, such as the World Bank, over the past decade, according to a Washington-based think tank, which believes the trend may need to be thoroughly examined. Chinese companies are now winning the majority of contracts offered by development banks, while Beijing has increased its subscriptions to […]
Tag: International financial news
The Commission extends until 30/6 the temporary framework for state aid
The European Commission has announced that it has decided to extend the provisional framework for state aid until 30 June 2022, in order to further accelerate the recovery. Commission vice-president for competition policy Magreite Vesteiger said that since the pandemic began, the temporary state aid framework has allowed Member States to provide targeted and proportionate […]
USA: Slight decrease in unemployment benefit applications
The number of Americans applying for new unemployment benefits fell last week, slipping closer to the levels before the outbreak of the coronavirus, as the labor market recovery continues to gain momentum. In particular, the initial applications for state unemployment benefits fell by 1,000 to the seasonally adjusted size of 268,000 for the week ended […]
Norges Bank: Stops buying crowns due to higher cash inflows from oil
Norway’s central bank announced today that it will cut its daily local currency (krona) markets to zero from 700 million kroner ($ 80 million) due to its larger-than-expected cash inflow from its oil industry. country. The revised policy takes effect on Friday and will last until the end of November, Norges Bank announced. The koruna […]
Turkey: Central bank cuts interest rates to 15% – 1 to 11 against the dollar ‘touches’ the pound
Turkey’s central bank has cut interest rates for the third month in a row as President Erdogan has made it clearer than ever that he will not abandon his campaign for lower borrowing costs, despite a weakening currency and rising inflation. The monetary policy committee, chaired by Sahap Kavcioglu, cut the one-week key refinancing rate […]
Evans (Fed): There is more uncertainty about inflation than it was a few months ago
One of the most “aggressive” executives of the Federal Reserve went on to admit that inflation has persisted for longer than he expected. “Now, I’m going to admit that it lasts longer than I expected. I expected the supply chain to be more resilient than we’ve seen,” said Chicago Fed Chairman Charles Evans. By the […]
Big drop in car sales in the EU in October
In October, sales of new passenger cars in the European Union fell sharply. Specifically, according to official data from ACEA, new car registrations shrank by 30.3%. Last October was the fourth consecutive month of declining sales of new cars in the EU. New car sales in the EU amounted to 665,001 units. This is the […]
Biden’s request to major countries for coordinated release of crude stock
LAST UPDATE: 23.44 The United States has asked some of the world’s largest oil consumers to consider releasing some of their crude reserves in a concerted effort to cut prices and boost economic recovery, according to Reuters, citing insiders. . World oil prices hit a seven-year high in late October as people around the world […]
Erdogan unmoved despite pound lows – Calls for new interest rate cuts
Turkish President Tayyip Erdogan has reaffirmed his willingness to see his country’s central bank cut interest rates further, sending a “message” to investors a day before the latter’s monetary policy committee meeting. “I can not be in the same camp as those defending high interest rates,” he said, speaking from the National Assembly building in […]
ECB: The slowness of vaccinations is a threat to financial stability
The European Central Bank (ECB) announced today that it believes that the slow pace of Covid-19 vaccination in some parts of the world could threaten financial stability, even though the economic recovery has already begun. The current economic recovery, with boosted activity in eurozone businesses, “reduced many of our worst fears about financial scars and […]
