AuthorPeretz M.

Turkish lira faces devaluation

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The rate of the Turkish lira is once again falling sharply in the midst of financial turmoil in Turkey. Last week, the Central bank of the country promised new measures to support the currency, but chose not to interfere with interest rates. The situation caused a sharp fall in lira rate last week. On Monday, the rate went down to 1.7 percent against the dollar. The Turkish currency thus went up...

Airbus dethrones Boeing as the largest aircraft manufacturer

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Boeing is no longer the largest aircraft manufacturer in the world. The American concern has been overtaken by its European rival Airbus. In 2019, Airbus delivered 863 airliners, 8 percent more than the year before, the company announced in Toulouse. Boeing has not yet published its annual result, but until the end of November the company had delivered 345 aircraft. More than 400 devices of the...

Goldman Sachs accused in deploying ‘sexist’ algorithms

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A financial watchdog in the state of New York has launched an investigation into possible sexism in determining credit card limits by Goldman Sachs. The bank denies the accusations. The research follows a series of angry tweets from entrepreneur, web developer and bestselling author David Heinemeier Hansson, founder of project development site Basecamp.com. The Dane expresses his dissatisfaction...

Tiffany is likely to reject LVMH takeover bid

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The American chain Tiffany will reject the takeover bid of the French luxury goods producer Louis Vuitton Moët Hennessy (LVMH). That is what insiders say. The proposal is said to be worth $ 14.5 billion. Tiffany advisers are currently reviewing LVMH’s proposal, but sources say it would undervalue the company. Various shareholders have already described the price as too low. LVMH has been...

Losses at the European stocks, trade tensions blamed

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The European stock exchanges went out of trading lower on Friday. New Chinese taxes and the response from US President Donald Trump kept financial markets under control. As a result, initial profits on the stock exchange were turned into substantial losses. The AEX index in Amsterdam closed 0.9 percent lower at 542.09 points. The MidKap fell 0.7 percent to 791.98 points. The stock exchanges in...

Kristalina Georgieva nominated by EU as IMF director

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The Bulgarian Kristalina Georgieva will most likely become the new director of the International Monetary Fund (IMF). The European finance ministers have decided to nominate her. Former Finance Minister Jeroen Dijsselbloem was also in the race, but received less support than the Bulgarian. The top positions at the two global financial institutions World Bank and IMF have been divided between the...

Christine Lagarde candidacy in accord with the EU opinion

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Christine Lagarde may be appointed as President of the European Central Bank (ECB) on 1 November. The EU finance ministers formally agreed in Brussels to the nomination of the current IMF director to succeed Mario Draghi. EU leaders had named the 60-year-old Frenchwoman last week as “the right candidate” for the position. There is now a consultation round with the ECB administration...

Price of iron ore dropped considerably after early advance

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The price of iron ore fell sharply on the futures market in Singapore on Friday. The price came under pressure after a call from the Chinese steel branch association to the Chinese government to “maintain order” on the iron ore market.   The price of a ton of iron ore fell by as much as 6.2 percent to more than $ 107. Monday reached the highest level in five years, partly due to bad...

Wall Street is taking a step forward

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The stock exchanges in New York were on a profit halfway through the session on Wednesday. Sentiment was helped by optimism about a trade deal between the United States and China. Chip companies were in the spotlight after better than expected figures from memory chip manufacturer Micron Technology. The Dow-Jones index was 0.2 percent higher at 26.596 points around 19.30 (Dutch time). The broad...

Inpex submits plan on LNG project in Indonesia

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The Japanese oil and gas giant Inpex has submitted a revised plan for the development of the Abadi oil field to authorities in Indonesia. The proposal concerns a major project in the field of liquefied natural gas (LNG).   Part of the plan is an extension of the agreements on the Masela field by 27 years to 2055, which Inpex manages together with Shell. The Anglo-Dutch oil company has a share of...

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