Daily Management Review
Economics

US Fed's Powell Says There Will Be No Rate Cuts In 2023, Markets Interpret It Differently

The Federal Reserve Chair Jerome Powell sent a clear message: while it is "gratifying" that inflation has begun to slow, the central bank is far from reversing course or declaring victory.   "It's going to take some time" for disinflation to spread through the economy, Powell said in a news...

US Dollar Falls As The Federal Reserve Warns Of Disinflation

The US dollar fell on Thursday following the announcement of the US Federal Reserve that its fight against high inflation was coming to an end which raised hopes among market participants that the central bank's campaign of rate-hike to tame inflation was...

Fitch forecasts LNG imports growth to the EU

According to a forecast by Fitch Ratings, liquefied natural gas imports to the European Union might increase by about 30%, from 120 billion cubic meters in 2022 to 155 billion cubic meters in 2023. "In order to counterbalance Russia's rapidly diminishing gas supply, LNG will continue to play a...

Super-Rich Chinese Who Are Dissatisfied In Their Home Country Turn Their Attention To Singapore

At the forum at Singapore's Shangri-La hotel, graduate student Zayn Zhang agreed with other many wealthy Chinese people that Singapore would be the best place to keep his family's money.   His wife is out hunting for a S$5-7 million ($4-5 million) penthouse while he studies at an Asian...

Bloomberg: EU may impose price cap of $100 on Russian diesel fuel

According to Bloomberg, the European Union is thinking about restricting the cost of Russian diesel fuel at $100 a barrel. Additionally, it suggests capping the price of discounted oil products at $45 per barrel. The G7 plans to set two price caps for Russian oil products in order to account for...

Equinor to sell stake in Nigerian oil field

According to sources cited by Reuters, the Equinor energy corporation of Norway has begun selling its 20.21% ownership of the Nigerian offshore oil field Agbami. Norwegian energy company Equinor "is selling its stake in an offshore oil field in Nigeria, following the departure of Western energy...

UN predicts slowdown in U.S. GDP growth

According to the UN assessment on the global economic condition and its forecasts for this year, the growth rate of the U.S. GDP will slow in 2023; this year, the figure will increase by 0.4% as opposed to 1.8% in 2022. The UN projects that after rising by around 1.8 percent in 2022, the United...

Venezuelan authorities support idea of creating regional currency

Creation of a regional currency is being discussed, as previously reported by the presidents of Brazil and Argentina, and Nicolas Maduro of Venezuela has voiced support for the notion. "Venezuela is prepared, and we support the plan to establish a currency for Latin America and the Caribbean....

Morgan Stanley improves economic growth forecast for euro area

According to a study by Morgan Stanley, economic growth in the euro area this year may be slightly better than anticipated, especially due to decreased energy prices. The statement reads, "We are increasing our growth prediction for 2023 to 0.5% from 0.2%. There are two reasons for doing this....

HFR Report Says Global Hedge Fund Sector Lost Assets Worth $125 Bln In 2022

Hedge Fund Research (HFR) data showed on Friday that nearly $125 billion in assets left the hedge fund industry due to performance losses in 2022, the latest sign of the havoc that volatility wreaked on the industry last year.   Investors reconsidered investing in hedge funds, resulting in a...
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