Oil-rich countries in the Middle East are reaping the benefits of soaring energy prices. Due to the high prices, the sale of oil will generate around 1.3 trillion dollars more than usual over the next four years. This is according to business newspaper FT based on calculations by the International Monetary Fund (IMF). The calculations show how much Gulf states with large oil and gas reserves are...
The market for social commerce will grow to $ 1,200 billion by 2025. Outside of the Chinese market, this form of online trading will hardly become of serious scale. This is confirmed in a study, but in an analysis by Accenture. The combination of streaming video and social media appeals to the imagination because it brings reach, inspiration and purchase intentions close together. This seems to...
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...
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...
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...
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...
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...
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 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...
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. Â 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...