Iceland's J?hannesson Urges to Cut Interest Rates
Benedikt J?hannesson, minister of finance in Iceland, have affirmed that the nation?s central bank had to slash interest rates another time in order to ease the pressure weighed on Icelandic krona (ISK) together with the removal of capital controls.
J?hannesson also mentioned that he does not have any ?influence? regarding this decision as the government have taken these actions to lessen the pressure against the economy, as well as to prevent overheating, to the extent of rising of budget surplus.
On one side, the administration hopes that the steps to cool down pressure on krona will be sufficient to realize more foreign investments for the pension funds. The ISK increased by 17 percent versus the European currency on the previous year, it was able to climb higher due to burgeoning record of tourist inflow. On Monday, krona plummeted by 3 percent while bond yields rack up. The recovery of the currency was recorded on Tuesday in the capital city of Reykjavik with an increase of 0. 6 percent.
The financial and legislative precautions were implemented as no one can say when will the country would experience the crisis again.
Post Merge: March 16, 2017, 09:37:20 AM
Puerto Rico G. O. Bonds Dropped to its Lowest in 2 Months
Puerto Rico?s General obligation (GO) bonds dropped after the financial recovery plan has been approved which is comprised less than a quarter of total unpaid debts. The revised proposal was granted by Governor Ricardo Rossello on Monday aiming to cut the chronic budget deficits.
Securities due 18 years from now which is the most traded has declined by 5 percent with an average of 67. 5 cents on Tuesday, its lowest price in two months while those bonds due after 22 years fell to 60. 2 cents from 63. 8 cents on Monday.
This plan will mark as the benchmark as they talk through on minimizing its debts. Although the outcome is negative, the authorities are still sanguine with the end result. The governor commented that the as of now, the country has chances to deal with various bondholders at different levels and they are still in the process of evaluating the best most suited solutions in consideration of bondholders and the people of Puerto Rico.
Post Merge: March 16, 2017, 11:20:28 AM
Peruvian Economy Beef Up Reaching 4. 81% Growth
In January 2017, the economy of Peru rose up to 4. 81% which indicates the progressive the country?s growth for 90 months. The surge was supported by the excellent performance from the primary sectors, particularly fisheries and mining based from the National Institute of Statistics and Informatics (INEI) report released on Wednesday.
Head of INEI, Anibal Sanchez have said that the GDP of Peru gained 4% for the past 12 months from the months of February 2016 until January 2017.
During the first month of the year, the hydrocarbons and mining industry grew by 14. 75%, at the same time the fishing activity boosted by 42. 17%.
The economic development exceeded analysts estimates of 4. 5% based on the Reuters poll. The upbeat figures were underpinned by the growth in foreign demand which proves 8. 09% increased for total exports.
Post Merge: March 21, 2017, 10:42:22 AM
Launch of ?Analytical Reviews? Section
We are glad to inform you about the launch of ?Analytical Reviews? section on our website. Since then you won?t have to look for financial analytics on third-party resources ? you just need to visit the relevant section on the ForexMart website.
In this new analytical section it will be possible to find up-to-date information about popular currency pairs, trade ideas and recommendations, as well as analytical reviews, forecasts, charts and overall description of the current market situation.
We hope that this innovation makes your trade more convenient and pleasant. Stay tuned and remain a--- of the latest economic trends with ForexMart!
Post Merge: March 24, 2017, 05:47:58 AM
South Korea?s Economic Expansion Remained Slow Amid Recovery in the Global Market
In spite of signs of improvement in the global economy, Yongmaan Park, Korea Chamber of Commerce & Industry (KCCI), affirmed that South Korea still lack momentum for the early recovery. The KCCI chairman announced this in a National Assembly with the four of the main South Korean political parties held in Seoul.
It became evident that the country is continuously suffering from a growth failure with the Bank of Korea based on the forecast of economic development at 2. 5 percent for the current year, including an increase in jobless rate, high household debts and the penalties imposed by China with regards to missile row.
Moreover, Park also mentioned that they are currently sustaining a growth rate with a range of two percent.
Post Merge: March 24, 2017, 06:35:21 AM
Slew of Scandal Involvements Prompts Samsung to Apologize to its Investors
Tech giant Samsung Electronics Co. issued an apology last Friday following the firm?s involvement in several national scandals that eventually led to the impeachment and eventual ouster of former South Korean president Park Geun-hye as well as the infamous recall of the company?s flagship smartphone, the Samsung Galaxy Note 7. In addition to the said apology, Samsung has also promised to improve its internal governance amid pressure from its investors. Samsung Vice Chairman Kwon Oh-hyun delivered the said apology during its annual shareholders? meeting. Samsung heir Jay Lee was not present at the said meeting as he is currently facing several bribery and embezzlement charges.
Post Merge: March 30, 2017, 11:23:17 AM
Nigeria and Norway Seek Opportunities to Non-oil Sector investments
Stakeholders from Nigeria and Norway looked for opportunities outside to increase direct foreign investments from the non-oil sector to uplift its economy and improve bilateral ties. The Nigerian Export Promotion Council (NEPC) assumed possible earnings as much as $18 billion by 2019 if properly executed.
The Nigerian-Norwegian Chamber of Commerce (NNCC) was established to promote trade and investment to lessen the barrier and limit transaction risks between countries.
Norway has an advanced industrial sector while Nigeria presents opportunities with high capital, agricultural sector, infrastructure, vast mineral resources and value added manufacturing. They complement each other moving towards the same goal of economic diversification from the conventional growth driver which is the energy sector.
Post Merge: March 30, 2017, 12:31:23 PM
POBA Acquires Brederode Worth W130b
Public Officials Benefit Association (POBA), a local authority that manages the retirement funds of functionaries, were considered to be the bidder for Belgium-based venture company, Brederode worth 130 billion won (US$117 million), as mentioned by some sources on Tuesday.
POBA is said to acquire 100 percent stake of the company from an unnamed real estate investment trust (REIT) for 74 billion won (US$66 million). While the other 56 billion won (US$50 million) will be used to finance a loan from a local financial organization.
The association expects to obtain a 5% annual return derived from the transaction after six years.
The office complex is made up of three 6-floor buildings comprises of 22,300 square meters. The establishment can be found at Brussel?s commercial centre city, near the Central Station and Belgian Royal Palace.
The building has been permeated by six corporation which involves the global law firm,
Linklaters LLP with more than 13 years of contract under Brederode.
According to an unknown official from the Seoul-based organization, the company takes its focus on the real estate market in the European mainland on the back of Brexit triggered in the previous year.
Post Merge: April 03, 2017, 11:09:31 AM
The current Money Fall contest has already started on April 3, 2017 and will end on April 7, 2017.
You can register for the next competition which will take place from April 10, 2017 to April 14, 2017. Note:
Registration for the next competition finishes 1 hour before the contest starts.
Post Merge: April 04, 2017, 05:10:29 AM
Turkey Inflation Rates Reached Double Digit After 5 years
The price for the Annual consumer price increased as high as 11. 29 percent in the month of March as the country faced with economic problems as Lira dropped down and the surge in oil market which is the worst condition since 2008. This caused the inflation rates to reach double digits for the first time in five years.
The policymakers are being pressured as they try to stabilize the weakened currency and at the same time sustain the growth by the start of the year. Currently, the central bank targets inflation rates from 3 to 7 percent but the March result was not as expected with the 10. 7 percent reading.
Although, the Lira has been secured in the past few months because of tightening in its monetary policy. The economic growth also has shown signs of recovery in its recent fourth quarterly GDP as it rose by 3. 5 percent after a drop of 1. 8 percent in the past quarter which has been the worst decreased since the financial crisis.
Post Merge: April 04, 2017, 11:17:35 AM
Australian House Values Surged by 1. 4 percent in March
The housing prices in the main cities in Australia accelerated in March with the fastest growth in annual basis nearly in seven years.
According to a CoreLogic, California-based property consultant, the house price index from the major towns rose to 1. 4 percent in the previous month versus the gain of the other month.
Moreover, the annual growth rate of prices ascended to 12. 9 percent from its previous figures of 11. 7 percent. The result beat the past highest point in 2015 as well as the fastest pace recorded in May 2010.
This event triggered concerns of Reserve Bank of Australia (RBA) based on speculations that it was fueled by debt which could affect banks and consumers eventually.
The central bank implemented more constricted guidelines on investments and interest-only mortgages as a means to ease the market. The RBA further increased interest rates and blamed regulatory costs.
Post Merge: April 05, 2017, 07:00:09 AM
Student Debt Burden Weighs Down US Rates?Dudley
Fed New York President William Dudley stated that US interest rates are being weighed down by the increasing burden of student loans, and that policymakers should seriously consider implementing free tuition fee rates for college students. In addition, Dudley and several of his colleagues are saying that the US economy has already lost its potential to grow as fast as before the financial crisis in 2008 due to a number of factors, such as a steadily-aging population, diminished spending powers by households, and very dismal productivity growth.
Post Merge: April 06, 2017, 09:22:04 AM
Europe?s Banking Lobby Raises Concerns in Financial Stability Over Brexit
If Brexit negotiations did not end well could affect the wholesale banking and financial stability according to the banking lobby in Europe. The Association for Financial Markets in Europe (AFME) emphasized concerns faced in Brexit including access to the bloc but at the same time aiming to maintain being part of the single market.
On the other hand, the European Securities and Markets Authority (ESMA) is said to be important in resolving the issue of maintaining the ?equivalence? operation between E. U. and
non-E. U. firms, according to the AFME.
In the part of E. U. , they also need to manage policies in the financial markets, gain the trust of financial firms from London while mediating the negotiation with Britain and curbing undiversifiable risk inherent to the process. It makes the whole system complicated and harder to manage systematically.
Post Merge: April 06, 2017, 10:29:56 AM
German Advisers Argued ECB Cashless Society
The economic experts of Germany have given their advice regarding the zero-interest rate policy of European Central Bank (ECB) and the possible serious risks it might bring to the country?s financial sector.
Wolfgang Schaeuble, Finance Minister of Germany, have recommended about the limitation of cash transactions about 5,000 euros as a means to fight against illegally-gained money together with the terrorist financing. However, the plan was opposed over by the German nation.
According to reports, there are banks and insurance corporations that ran into financial difficulties, particularly in generating profits and filling in their expenses because of the extremely low-interest rates.
Mario Draghi, President of ECB, mentioned the substantiality of cash as the medium of paying out upon the introduction of the new ?50 banknote. The 69-year old Italian economist further stated that the three-quarters of payments in the European region were done by cash, hence its essentiality remains in the economy.
Post Merge: April 07, 2017, 11:12:57 AM
Indian Economy to Accelerate by 7. 4%, says ADB
The Indian economy is projected to increase by 7. 4% amid the fiscal year 2017-2018 versus its previous growth of 7. 1%. The boost occurred due to lift in public investment and demand in consumption goods based on the statement of Asian Development Bank (ADB) on Thursday.
According to the latest 2017 report of Asian Development Outlook (ADO), 2016-17 GDP data failed to obtain the demonetization effects and the decline influenced the continuous slide of investments.
Moreover, ADO anticipates for the consumption to climb higher since there are additional bank notes set in the circulation following the shock withdrawal on highest-valued currencies happened on the 8th of November. The plan for an increase in salary and state employees pension were already implemented.
The ADB further expected the acceleration to 5. 2% in the current year till 2018 while 5. 4% in the coming 2018-19 considering the economic recovery along with the rebound of commodity prices.
Post Merge: April 10, 2017, 12:21:36 PM
The current Money Fall contest has already started on April 10, 2017 and will end on April 14, 2017.
You can register for the next competition which will take place from April 17, 2017 to April 21, 2017. Note:
Registration for the next competition finishes 1 hour before the contest starts.
Post Merge: April 11, 2017, 08:23:34 AM
U. K. Consumer Spending Sluggish Rate Amid Brexit
The U. K. consumer spending rose but in a sluggish manner that is considered to be the slowest in more than three years in March 2017. With the Brexit preparations began its process, the economy has lost its impetus.
The data in March alone dropped to 0. 7 percent lower than the prior month after reaching a flat status in February. Another data from Visa also indicates that the consumer spending tumbled after raising its levels in late 2016 as the household purchasing power becoming tight with rising prices. The consumer prices are predicted to ascend by 2. 3 percent annual rate similar to February?s rate according to Reuters survey of economists. On the other hand, the National Statistics Office released their inflation data for the previous month on Tuesday.
Post Merge: April 12, 2017, 09:30:08 AM
Bank of Canada to Maintain 0. 5 Percent Benchmark Rate
The Canadian central bank will release on Wednesday the economic outlook of the country, however, the decision to kept the interest rate unchanged at 0. 5 percent remain indecisive.
According to a combined forecast of 22 experts surveyed by Bloomberg News, they expect the Bank of Canada (BoC) would maintain its 0. 5 percentage rate.
The latest adjustment made by the BoC was during mid-2015 with a 0. 25 percentage point spearheaded by the decline in commodity costs.
The focus turned to the up-to-date report of Monetary Policy which is published quarterly which provide a breakdown of the predicted economic performance of Canada. While figures suggest a stable condition for the region considering the favorable January Gross Domestic Product which is the most recent monthly GDP available. The stat showed that there is a possible four percent growth within this year.
The semi-annual assessment further projected that the country will rose by 2. 1 percent amid 2017-18.
Economists had guesstimate whether the financial institution will reach that point. Alongside the strong GDP, the employment growth has seen to strive gathering some steam.