Spain cuts 2021 growth forecast to 6.5% after first-quarter contraction

© Reuters. FILE PHOTO: Informal Meeting of Ministers for Economics and Financial Affairs in Berlin By Belén Carreño and Nathan Allen MADRID (Reuters) – Spain’s government slashed its forecast for this year’s economic recovery on Friday to reflect a COVID-induced contraction in the first quarter and expected delays to the arrival of EU rescue funds. […]

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Economic calendar due from Asia today – Monday 05 April 2021

Good morning/afternoon/evening and welcome to Monday!  Its a market holiday in New Zealand and Australia today and across most of Europe and the UK  which will thin trading out. Hong Kong, Singapore, Japan and China are in. I’ll be popping in from time to time before back to normal on Tuesday. On the data calendar […]

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Economic calendar due from Asia today, Friday 2 April 2021, is nearly empty

Its a holiday across much of Asia, including for me! So, I won’t be around too much but will pop in from time to time. 2350 GMT will bring data from Japan, March monetary base. Via Investopedia: The monetary base is the total amount of a currency that is either in general circulation in the […]

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Oil price structures show market balance returns in second half of 2021

© Reuters. FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub in Cushing By Bozorgmehr Sharafedin LONDON (Reuters) – The oil market is likely to be in balance in the second half of 2021, even though European coronavirus lockdowns and U.S. winter storms caused disruptions in March, crude and […]

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China’s Sinopec raises 2021 capital expenditure by 23.8%

2/2 © Reuters. FILE PHOTO: Fracking trucks at work are seen at a shale gas well of Sinopec in Nanchuan, Chongqing 2/2 BEIJING (Reuters) – China Petroleum (NYSE:) & Chemical Corp, better known as Sinopec (NYSE:), plans a 23.8% increase in capital spending to 167.2 billion yuan in 2021 following recovery of oil prices and […]

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Dollar likely to rise, but rally will lose steam later in 2021, Forum says

© Reuters. FILE PHOTO: U.S. one hundred dollar notes are seen in this picture illustration By Divya Chowdhury and Lisa Pauline Mattackal (Reuters) – Economic growth and higher bond yields will keep the U.S. dollar stronger for now, but the rally will lose steam later in 2021 because of a dovish Federal Reserve and rising […]

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WTO to hold ministerial meeting in Geneva in late 2021: sources

© Reuters. World Trade Organization (WTO) in Geneva GENEVA (Reuters) – World Trade Organization members agreed on Monday to hold the next major ministerial meeting in Geneva, Switzerland in late 2021, delegates told Reuters. The biennial conference was originally set to be held in Kazakhstan last year but was delayed due to the pandemic. The […]

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Global companies raise massive cash through convertible bonds at start of 2021

10/10 © Reuters. FILE PHOTO: The Apple Inc logo is seen hanging at the entrance to the Apple store on 5th Avenue in New York 2/10 By Patturaja Murugaboopathy (Reuters) – Global companies are raising vast amounts of money through convertible bonds this year, as soaring stock markets lift demand for these bonds which give […]

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Turkey announces $18.5 billion public investment programme for 2021

© Reuters. Business and residential buildings are seen in Istanbul’s Sisli district ANKARA (Reuters) – Turkey has announced a 2021 public investment programme worth 138.5 billion lira ($ 18.53 billion), with communication and transportation projects receiving the largest allocation of the investment funds. The programme, published in the Official Gazette late on Friday, set aside […]

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