Outlook for 2015 better than last year, but emerging markets are a worry for Fitch December 16, 2014 Do you want the good news or the bad news? Let's go with the good: According to ratings agency Fitch, the global outlook is far more balanced for 2015 than it was this time last year. At the back end of 2013, there were twice as many negative as positive outlooks for sovereign creditworthiness, [...]
Russia: Rouble descends into freefall despite central bank’s rate hike to 17 per cent December 16, 2014 The rouble descended into freefall during trading today despite the Russian central bank's drastic action which hiked interest rates from 10.5 per cent to 17 per cent late last night. After starting the day with a brief rally, the Russian currency dropped again and was down 12.2 per cent to 73 roubles per dollar at pixel [...]
Oil prices: Brent crude falls below $60 a barrel December 16, 2014 Until recently the joke that was doing the rounds was that the rouble, the price of oil and President Putin would all reach 63 next year. Now just one of those is left waiting – and he's not likely to be in a celebratory mood. Oil prices have fallen to the lowest level in more [...]
Russia hikes interest rates to 17pc as rouble crashes December 15, 2014 Russian interest rates shot up late last night to 17 per cent as its central bank made a drastic attempt to prevent further collapse in the value of the rouble and stem rising inflation. The decision comes less than a week after the Central Bank of Russia (CBR) hiked rates to 10.5 per cent from 9.5 [...]
Why plunging oil has derailed the Santa Claus Rally – DailyFX Tips & Picks December 15, 2014 WHILE children look forward to Christmas Day, many grown-ups are more excited by the Santa Claus Rally. This usually entails a nice boost to stock markets at the end of the year, generating a good return. But the FTSE 100 is down this month – someone has clearly been naughty. And the culprit is said [...]
Russia hikes interest rates to 17 per cent after rouble goes into freefall December 15, 2014 The Central Bank of Russia has hiked its key interest rate to 17 per cent from 10.5 per cent effective Tuesday, after the rouble's worst one-day drop in 16 years. The rouble tumbled 10 per cent today amid concerns over the impact of falling oil prices on Russia's heavily oil-dependent economy. The central bank said [...]
The FTSE 100 slumps to a new yearly low amid crumbling oil prices December 15, 2014 Britain's FTSE 100 closed down again today taking the index to its lowest level this year, as crumbling oil prices and fresh concerns about Russia's economy scared investors. The FTSE 100 shed another 1.9 per cent to close down 117.9 points at 6,182.7 which was its lowest closing level since mid-2013. It fell 6.6 per [...]
Opec ready for oil price fall to $40 a barrel: UAE December 14, 2014 Oil prices could fall as low as $40 a barrel and the Organisation of the Petroleum Exporting Countries (Opec) will still refuse to cut production, according to United Arab Emirates’ energy minister Suhail Al-Mazrouei. Speaking at the Asian Business Leadership Forum (ABLF) in Dubai, Al-Mazrouei told Bloomberg: “We are not going to change our minds [...]
Never down and out: Thor Bjorgolfsson is the Rocky of the business world December 14, 2014 After losing a billion dollar empire and rebuilding it again, Thor Bjorgolfsson shares some of the lessons he learnt. “All of my greatest opportunities have come in the middle of a crisis,” says Icelandic billionaire Thor Bjorgolfsson. “Only the brave and bold go into chaos. International corporations can’t take such risk – I go in [...]
City Matters: India is a sleeping economic giant – the City stands to gain from its rise December 14, 2014 IN RECENT years, the UK has traded more with Ireland than all of the Bric nations (Brazil, Russia, India and China) put together. That fact has been rolled out regularly by our politicians over the past few years. And it also explains why trade delegations led by the Prime Minister and other ministers to emerging [...]