Market News

The bloc has already suspended state aid rules and limits on public borrowing to allow member states to spend freely to cushion the economy from the impact of the coronavirus.  Amongst the measures, the European parliament on Thursday…

Russia and Saudi Arabia have been fighting over oil market share after their three-year agreement to hold back production collapsed this month.  At this time of reduced global demand amid the spread of the coronavirus their pumping of crude oil flat out pushed crude prices to near 20 year lows this week.

On Monday the main indexes on Wall Street nosedived by 7 percent whilst Dow Jones Industrials crashed 2,000 points, in its biggest one day fall ever, as trading resumed after a 22 percent slump in oil prices.  Furthermore, trading in US stock exchanges was halted…

In an emergency move the FED cut interest rates on Tuesday by 50-basis points to a target range from 1 percent to 1.25 percent to mitigate the widening economic fallout of the coronavirus. 

Global share markets headed for the worst week since the levels reached in the 2008 financial crisis as investors dumped risky assets amid fears that the coronavirus would become pandemic and would set economic growth off track. 

In order to limit the impact from the Coronavirus, on Monday, China’s Central Bank lowered borrowing costs for the medium-term loans paving the way for a reduction to the lending benchmark rate on Thursday.  In fact on Thursday China cut the benchmark lending rate…

On Wednesday OPEC cut its forecast for global growth in oil demand this year amid the coronavirus outbreak and said its output fell sharply in January as producers implemented a new supply-limiting pact.  Furthermore, in a report, OPEC said the demand for 2020…

As the coronavirus continued to hit the news, China’s central bank unexpectedly lowered the interest rates on reverse repurchase agreements by 10 basis points on Monday, as authorities have stepped up measures…

Britain is set to formally leave the European Union on Friday, followed by a “business as usual” transition that ends next December.  The EU and Britain will start trade talks in the coming days. 

The annual meeting of the World Economic Forum kicked off on Tuesday till Friday in Davos, with global political and business leaders attending to discuss big issues facing the global economy and business sector amongst which are environmental issues.

An initial trade deal was signed by China and the US on Wednesday.  In a letter from President Xi Jinping read by China’s Vice Premier Liu He, the Chinese leader praised the deal as a sign that the two countries could resolve their differences with dialogue.

On Tuesday lawmakers approved legislation that will allow Britain to leave the European Union on 31 January with an exit deal.  They voted 330 to 231 in favour of the European Union (Withdrawal Agreement) Bill, that implements an exit deal agreed with the EU last year.