Daily Management Review
Economics

ECB forecasts rate hike in the near future

ECB spokesman de Guindos: The bank may keep raising interest rates at the current rate. The European Central Bank may keep raising interest rates at their current pace for some time in order to keep inflation under control, according to ECB Vice President Luis de Guindos. "If we do not act, the...

Crumbling Of Mobile Calls, And Internet In Russia Likely After Exit Of Nokia, And Ericsson

The departure of telecom equipment manufacturers Nokia and Ericsson from Russia at the end of the year may gradually impair the nation's mobile networks over time, worsening communication for regular Russians.   Russian mobile phone users will probably experience slower downloads and...

IMF: Bank of Japan's policy correction was a prudent move

According to IMF spokesperson Salgado, the Bank of Japan's policy correction was a prudent move. A correction to the Bank of Japan's yield curve management system was a "reasonable step," said International Monetary Fund official Ranil Salgado on Wednesday, commenting on the day before's surprise...

China Growth Outlook Cut By World Bank Due To COVID, And Property Industry Flop

The abrupt relaxation of strict COVID-19 containment measures and the ongoing weakness of the real estate market are to blame for the World Bank's reduction in China's growth outlook for this year and next.   In a report released on Tuesday, the Washington-based lender predicted that China's...

Cryptoverse: Farewell To The Year That Bitcoin Crashed

A stumbling Bitcoin entered 2022. The year comes to a close with it slouched in an alleyway, stripped of its cocktail of borrowed funds and leveraged bets, and shunned by the establishment.   The most valuable cryptocurrency has lost 60% of its value, and the entire crypto market has shrunk...

Bloomberg: 2022 drop in Russian stocks is the world's worst

Bloomberg reports that Russian stocks are performing the worst globally in 2022. Among the 92 indices it monitors, it said the decline in the Russian RTS Index was the most noticeable. According to information from the Moscow Exchange, the Russian dollar-denominated RTS stock index fell 34.9...

Rich Chinese Increase Their Search For Foreign Investment Bets To Reduce Domestic Risk

According to fund managers and industry sources, wealthy Chinese individuals are reducing their holdings of domestic securities and are increasingly considering assets in the United States and other foreign countries. This trend is expected to pick up steam in 2023.   Rich Chinese have...

With Rising Risk Of Contagion, Insurers Avoid FTX-Linked Cryptocurrency Companies

According to several market participants, insurers are refusing or restricting coverage to clients who have exposure to the insolvent crypto exchange FTX, leaving traders and exchanges of digital currencies uninsured for any losses from hacks, theft, or legal actions. Due to the lack of market...

Central Banks World Over Sending Clear Signals To Markets About Continuation Of Tighter Policy

The Federal Reserve of the United States, the European Central Bank, the Bank of England, and the Swiss National Bank all raised interest rates by 50 basis points this week, as expected, but markets are focusing on their shifting tones.   Markets reacted negatively after the Fed raised its...

HSBC to stop financing new oil and gas projects

New oil and gas project will no longer be financed, said HSBC bank. The bank made the announcement when it provided its yearly report on its climate change policy. Additionally, HSBC will now demand additional details about what its energy-related clients are doing to minimize their emissions....
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