Economic news

Money markets slash rate cut expectations after EU and Britain seal Brexit deal Money markets further scaled back expectations for interest rate cuts from European Central Bank of England after Brussels and London announced that they had agreed a new Brexit deal. Eurozone money markets have now priced out a 10 bps rate cut at […]

European shares dip as Brexit talks continue European shares dipped on Wednesday as uncertainty over the outcome of London’s last-ditch Brexit talks with Brussels kept investors on the sidelines. Brexit negotiations will resume in Brussels on Wednesday morning after “constructive” discussions went into the night on Tuesday, a British spokesman said. Britain’s domestically-focused midcaps slipped […]

Kazakhstan’s Kashagan oil output falls due to unplanned maintenance Production of oil and gas condensate at Kazakhstan as its Kashagan project decreased due to unplanned maintenance according to the energy ministry. While it declined to elaborate, two industry sources said that daily production at Kashagan had fallen from 365,000 barrels to 294,000 barrels on average […]

Italy to introduce tax on digital companies in 2020 Italy has approved a new tax on digital companies as part of its 2020 draft budget along with plans to introduce the new measures next year. The levy will oblige web-based companies to pay a 3% tax on internet transactions, according to the text of the […]

China’s copper imports soars to eight-month high China’s copper imports rose 10.15% in September, making it their highest in eight months as high prices drew shipments to Shanghai, the world’s top consumer of the metal. According to the General Administration of Customs, the arrival of unwrought copper, refined, and semi-finished copper products stood at 445,000 […]

South Africa is working to attract private investors; Ramaphosa says South African President Cyril Ramaphosa told the Financial Times Africa Summit that the country was working to restore its institutions and secure private investment in order to grow the economy. Ramaphosa, whose nation is struggling to gain momentum for economic growth, also said that they […]

Analysts see Trump’s hailing of $50 billion in Chinese farm purchases as “meaningless” China is still distant from buying $50 billion worth of agricultural goods from the United States according to analysts from the industry. They cautioned that this could only pull through if substantial technical and political hurdles have been removed. As part of […]

No-Deal Brexit could cost Ireland 73,000 jobs; central bank says A no-deal Brexit could cost Ireland more than 73,000 jobs over the next two years, the nation’s central bank said. According to the bank’s speculations, if the U.K. were to leave the European Union without an agreement, Ireland’s unemployment rate would rise to 5.8% in […]

Brexit deal likely to be reached by October 31; Irish PM says Irish Prime Minister Leo Varadkar said on Thursday that he believed a Brexit deal was likely to be reached on October 31. The Prime Ministers of the U.K and Ireland released a joint statement saying that they saw a potential pathway to a […]

China’s September exports expected to drop by 3% China’s exports fell at a slightly faster pace in September as reducing global demands and U.S. tariffs intensified. Meanwhile, imports shrank for a fifth month straight, suggesting that pressure on the economy has been increasing. As more U.S. tariff measures against China are set to take effect […]