Daily Management Review
Economics

Oil prices climb above $30 for the first time in three weeks

The cost of the July futures for Brent crude on the London ICE grew by 11.91%, to $ 30.44 per barrel. This is the first time since April 15, when the price of Brent oil exceeded $ 30. Meanwhile, the cost of WTI oil rose to $ 23.95 per barrel, adding more than 15% per day. According to analysts at...

Eurozone GDP may grow at around 6% in 2021

Eurozone GDP, which includes 19 of the 27 EU countries, could grow between 4-6% next year, according to a forecast by the European Central Bank (ECB). Earlier, ECB said that according to the results of the current year, the eurozone GDP could fall within 12%. "In 2021, GDP growth will be...

Baker Hughes reports decline in global oil and gas rigs number

The number of drilling rigs for oil and gas worldwide fell in April in monthly terms by 450 units, or 23%, to 1514 units, according to data from the American oil and gas service company Baker Hughes. In annual terms, the number of operating rigs decreased by 626, or 29.2%. In the USA, according...

ECB expects 5-12% decline in Eurozone's GDP

On Thursday, the European Central Bank (ECB) announced the launch of an additional bank lending program to maintain liquidity. The institution is also ready to increase the repurchase of assets, if necessary. Meanwhile, ECB head Christine Lagarde expects a 5-12% drop in euro area GDP this year, and...

US GDP collapses in Q1 for the first time in six years

The US economy in the first quarter fell by 4.8% in terms of annual rates, according to a preliminary report by the US Department of Commerce. The decline took place for the first time from January-March 2014, when GDP fell by 1.1%. At the same time, it became the highest since the fourth quarter...

IMF approves $3.4B tranche to Nigeria to fight COVID-19

The International Monetary Fund has approved a tranche of $ 3.4 billion to Nigeria to fight coronavirus, the fund said in a statement. "The IMF has approved the provision of emergency financial assistance in the amount of $ 3.4 billion as part of the quick financing mechanism to support the...

OPEC expects oil to return to $ 40 per barrel later in 2020

OPEC believes that oil quotes in the second half of 2020 will fluctuate around $ 40 per barrel, said the Minister of Energy of Algeria, Mohamed Arkab, said on Algerian television. He is president of the OPEC conference until December 2020. According to him, “markets began to give positive signals”...

Bank of Japan keeps negative rate unchanged

The Bank of Japan kept the interest rate at a negative level, minus 0.1%, the financial regulator said in an April meeting. Eight members of the regulator were in favor of maintaining a negative interest rate, one was against. The Japanese Central Bank introduced a negative interest rate of minus...

WHO Regrets As Trump Pulls Out Traditional Fund Flow

WHO seems to be needed more than ever given the present global pandemic crisis, while the U.S. president decides to not pay the agency its assessed “voluntary funding” amount. The Head of WHO, the “World Health Organization”, had expressed his regrets about President Trump’s decision of pulling out...

Following FDI Policy Change, India To Fast Track Chinese Investment In The Country: Reuters

New screening rules issued by the Indian government over Foreign Direct Investment (FDI) particularly from neighbouring countries including China have raised concerns among companies about their plans being jeopardized. The Indian government now plans to fast track the review process of some FDI...
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