Saudi Arabia’s economy grew at the fastest pace since 2012 in the third quarter compared to the previous year, according to official figures, as the world’s leading oil exporter benefits from a recovery in global energy demand. “This positive growth is due to the high 9% increase in oil activity as a result of the […]
Tag: International financial news
Erdogan ‘cuts’ fixed fees from Turkish electricity bills
Turkish President Tayyip Erdogan said on Monday that Turkey would remove two fixed payments from electricity bills to help consumers, adding that his government had already subsidized some energy costs. Erdogan faces tough elections by mid-2023 at the latest, and his acceptance rates have been hit by Turkish inflation, with recent increases in basic commodities […]
Advisers to the German government have downgraded their growth estimate for 2021
The German government’s economic council will cut its 2021 growth forecast for Europe’s largest economy to 2.7% from its March estimate of 3.1% due to supply chain shortages, a source told Reuters. who knows the data. The advisory committee, also known as the “wise men”, is set to formally present its autumn forecast on Wednesday. […]
Eurogroup – Lagarde: Transient inflation is expected to decline from 2022
Eurozone finance ministers agreed on Monday that the jump in consumer prices during this period will subside in 2022, while the high debt created by the pandemic crisis should be reduced, but in a way that will not affect the economic recovery, transmits Reuters. Annual inflation climbed to 4.1% last month from 3.4% in September, […]
Harker (Fed): After the completion of QE the increase of interest rates
The chairman of the Philadelphia Federal Reserve Bank, Patrick Harker, said today that he did not expect an increase in interest rates until after the central bank’s bond-buying program ended, adding that the Fed was ready to take action to combat high inflation if need. “I do not expect an increase in interest rates before […]
Clarida: Inflation has ‘far’ exceeded the Fed target
Federal Reserve Vice President Richard Clarida said today that while the Fed remains “far enough away from considering raising interest rates”, if the current outlook for the economy proves to be right, then “the necessary conditions for raising interest rates will be satisfied by the end of 2022 “. Inflation has already “far exceeded” a […]
US: Bullard of the Fed ‘sees’ two interest rate hikes for 2022
The president of St. Louis Federal Reserve Bank James Bullard said today that he expects the Fed to double its interest rates by 2022 after the end of the bond-buying program by the middle of next year, although he noted that if necessary, the central bank can accelerate developments, completing the program in the first […]
P. Donahiou (Eurogroup): The economic recovery in the Eurozone will continue in 2022
Eurogroup President Pascal Donahue, from Brussels, appeared optimistic that the economic recovery in the eurozone will continue over the next year. Addressing the Eurogroup meeting, P. Donahue pointed out the “very positive trends” observed in terms of employment and economic growth, while at the same time saying that the issue of inflation is taken into […]
Erdogan cuts interest rates to boomerang ballot box
Turkish President Recep Tayyip Erdogan is forcing the Central Bank of Turkey to cut interest rates to boost economic growth ahead of the 2023 elections. But the president’s pursuit of economic expansion through lower borrowing costs and higher credit – a policy that has borne fruit in the past – can work like a boomerang. […]
Gazprom reduced gas shipments to the EU by 22% in the first ten months of 2021
Gas shipments from Russia to the EU for the first ten months of 2021 fell by 22% compared to the same period last year, to 35.3 billion cubic meters, according to data published on the website of the company “GTS Operator of Ukraine “, according to the Russian news agency Ria Novosti. “Gas transportation through […]
