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According To S&P, China's Fiscal Stimulus Is Becoming Less Effective 04/19/2024

S&P downgrades Israel's ratings to 'A+' from 'AA-' due to rising geopolitical risks 04/22/2024

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Economics

Asian Development Bank cuts Chinese GDP growth forecast

The Asian Development Bank (ADB) downgraded its forecast for this year's GDP growth in Asia, particularly China. ADB expected that the Chinese economy would expand by 5% in 2022, but the forecast has since been lowered to 4%. According to ADB, this year's growth for the entire Asian economy would...

Goldman Sachs downgrades its oil price forecast for 2022-2023

The second half of 2022 and 2023 will have lower oil prices, according to Goldman Sachs. According to a memo from the bank's experts, Goldman Sachs has modified its prediction for oil prices in the second half of 2022 and in 2023. Goldman Sachs estimates that in the worst-case scenario, the fair...

Chinese yuan falls to two-year low on weak statistics from China

On Friday, the CNY dropped to a two-year low versus the US dollar, and is expected to close with the biggest drop since May this week. The Q2 GDP figures, which came in far below expectations and placed doubt on China's economy's capacity to meet its growth target, was the cause of the decrease....

Norwegian Equinor closes part of Sleipner field

The Sleipner field was partially shut down owing to a gas leak, according to the Norwegian oil and gas company Equinor. "On the Sleipner A platform, a closed location near a turbine was found to have a gas leak on the morning of July 11. The situation was discovered shortly. Work is being done to...

Price of RES generation doubles in Europe

Cost of long-term contracts for the purchase of green electricity has nearly doubled in the European Union. As RES generation costs soar to record highs of €100 per 1 MWh, they are now three times as expensive as developing new green electricity generation. Due to gas shortages and the EU's wish...

Inflation in China exceeds forecasts

According to data issued on Saturday by China's State Statistics Office, the consumer price index (CPI), a major gauge of inflation, increased 2.5 percent year over year in June 2022, slightly exceeding analysts' predictions. In contrast to May's 2.1 percent CPI growth, experts forecasted 2.4...

Shinzo Abe’s Efforts To Revitalise The Japanese Economy

Former Japanese Prime Minister Shinzo Abe, who was killed on Friday, had hoped to restructure the country's economy. He was the country's longest-serving prime minister, retiring in late summer 2020. Perhaps the most visible initiative of his presidency was "Abenomics," the economic...

In June, The US Economy Added More Jobs Than Predicted

According to official estimates, the US economy added 372,000 jobs in June, considerably exceeding expectations. Economists predicted that the country will add between 250,000 and 295,000 jobs. According to the US Bureau of Labor Statistics, the jobless rate has likewise maintained at...

Shell and CEZ to supply seven billion cubic meters of LNG per year to the Netherlands

According to a news statement from Gasunie, Dutch Shell and Czech CEZ inked a cooperative deal with the Dutch gas business Gasunie to provide 7 billion cubic meters of liquefied natural gas (LNG) annually to its new terminal EemsEnergyTerminal. "Contracts have been signed by Gasunie subsidiary...

Euro Is At A Two-Decade Low, While Volatility Is At Its Highest Since March 2020

A small decline in the dollar provided some relief to the euro, allowing it to move away from two-decade lows recorded this week after surging oil costs fueled recession fears. Risky assets, like the euro, gained ground gradually on Thursday as investors weighed the chances of a recession...