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    1. #241
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      Economic News

      Calgary Council to create a $10-million Economic Development Fund

      The council of Calgary asked to produce an economic development investment fund (EDIF) that accounts to $10 million during on its meeting scheduled on Monday. Based on the Statistics Canada, there were almost 53, 000 jobs lost in Calgary, a region in Alberta, Canada.
      In other countries like North America, the purpose of EDIF is to create diversification and to work out with the economic downswing.

      Moreover, the city council released a report regarding the objectives of the said project: (1)Help create the right conditions for growth in the local economy, through efforts to strengthen industries and create new ones; (2) Diversify the local economy; (3) Leverage municipal funds for additional private and public sector investments into the community; (4) Create employment lands and stimulate employment; and (5) Create a return on investment (both direct and indirect).
      Councillor Richard Pootmans approves the deal for he believes that investments should be administered within the community because no one else will do this favor for the Calgary.
      Pootmans was recognized having a background in economic development prior entering politics.

      The 20 percent of the $10-million worth EDIF will be allotted to the 10 cornerstone arts organizations that include the Calgary Folk Music Festival, Theatre Calgary, and The Calgary Philharmonic Orchestra. While the municipal politician would likely consider this idea as he said that, arts is one of the primary factors why people visit their art galleries.

      The City administrators further stated that art organizations support the high quality of life in the region with an active metro and the economy is well-diversified.


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    3. #242
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      Aussie Economy Can Grow Further, says Philip Lowe

      RBA Governor Philip Lowe thinks that the Australian economy will still be able to grow further if the country’s officials will be able to overcome several political hurdles, although he also warned that disappointing wage gains data will most likely to continue plaguing developed countries. Lowe also stated that the central bank believes that the country’s economic growth will continue advancing during the next two years due to an overall surge in the status of the international economy. The political environment within Australia has become more and more polarized over the years, as parties attempted to gain an unfair electoral advantage from losing reform proposals. This has prevented the Australian economy to properly implement any kind of economic reform since 2000’s goods and services tax.


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    4. #243
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      Positive Economic Feelings of Americans, No Help For Trump, CNBC says

      The American economy remains optimistic as shown in the All-America Economic Survey by CNBC, along with some leading components reaching its highest level, however, this optimism does not help the president.

      The poll shows that 800 U.S. citizens or 30 percent of the populace believe that the economy is in upbeat as of this moment until the future. It's the highest percentage recorded in the past two successive quarters amid survey's 10-year history.

      There are 54 percent who think that house price will surge in 2018 and 44 percent who deems that their earnings will further rose for the following year. The stocks as well demonstrated a positive stance as there were 44 percent assumed that this period is a time for good investment

      However, the positive tone of Trump’s economy does not contribute much help towards the approval rating of the state’s leader which showed a 37 percent decline based on the recent survey versus 39 percent result in April. President D. Trump’s approval on the economy is down to 41 percent and 44 percent in April. Moreover, negative factors may arise driven by various groups particularly laborers such as blue collar, independents, and retirees.

      As the public has split belief, the poll found that quarter of the United States economy is becoming better due to policies adopted by the president. On one side, there are 22 percent who said that his plans worsen the country.


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    5. #244
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      US Senate to Release Draft of Healthcare Bill

      The Republican bloc of the US Senate will be releasing their draft of the healthcare bill this Thursday as the country’s senators attempt to iron out several issues within the country’s economy, such as the Medicaid program and the daunting task of decreasing insurance costs. Republicans have been struggling for several weeks as they attempt to revise major chunks of Barack Obama’s Affordable Care Act. Meanwhile, members of the Democratic bloc have staged a protest last Monday as part of their collective dissent towards these closed-door meetings of the Republican bloc.


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    6. #245
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      Economists Predicted Optimistic Outlook for China’s Economy

      According to the most recent poll, Chinese economists have a positive outlook regarding the future of the country’s economy. Forecasts say that the economic growth of China will gain 6.6 percent, this means that aggregate needs of China is extended up to 2034 only in order to take after the United States.

      The survey was released by the bi-monthly journal, China Economist last June 14 which shows 131 analysis questionnaires. The study is done quarterly conducted by investment banks, research institutions, and widely-known economists.

      Financial experts that came from the western and central regions of China estimated that the country will expand from 6.63 to 6.6 percent which is higher versus its rivals from the east. While the majority of the analyst believes that manufacturing in China will remain unchanged. The survey further indicates the upbeat tone of Chinese economist regarding the Republic’s better performance driven by the government confidence.

      There are 35.2 percent of experts that the national debt of the country became much stable rather than of the U.S, considering its debt-to-GDP ratio is almost low and its growth rate in GDP is quite high.

      Moreover, there are 91.2 percent economists who support the 100-day action plan designed by US President, Donald Trump as they deemed that the American economy can fully recover along with potential revitalization of the manufacturing sector of the state.


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    7. #246
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      U.S. Bond Market Flat Yield Curve Warns the Economy

      Federal Reserve authorities are applying more on a hawkish side on the next rate hike signifying less confident prediction for long-term economic growth. The U.S. Treasury yield curve giving a flat yield curve forebodes warning signals on the economy. Buyers will look out for higher yields especially for long-term debts when costs increase.

      Dallas Fed president said that the cause of the yield curve is the weakened market growth while the New York Fed president described the reason to be the low offshore inflation and borrowing rates instead of a sluggish economic growth.

      However, the flat yield curve could further ease the current financial condition amid the efforts of Fed to tighten its monetary policies but would benefit riskier assets such as stocks that are not easily affected by the strength of the economy. Nevertheless, the Fed cannot manage the whole monetary base since there are still parts under shadow banking which are larger than what the Fed controls in the present as described by a market strategist.


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    8. #247
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      Re: Company News By Forexmart

      The current Money Fall contest has already started on June 26, 2017 and will end on June 30, 2017.

      You can register for the next competition which will take place from July 3, 2017 to July 7, 2017

      Note:

      Registration for the next competition finishes 1 hour before the contest starts.

    9. #248
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      Corporate Sectors Face Risks Despite Economic Advancement in Q2

      The economy of China has progress in the second quarter as the corporate profits rose and employed more workers in the recent surveyed but the country still yet to face difficulties. Nevertheless, corporates were able to endure a tighter financing condition amid signs of problems regards to negative cash flow and inventory levels. Commodities sector is strengthening in spite of weak price in the second quarter

      This is in line with the latest data and rhetorics of policy makers who tried to control financial risks to prevent the collapse of the economy which would be discussed on the significant political meeting.

      The government intervenes with its campaign to control debt risks and steady the financial market since the cash supply was sluggish in the past two decades in May. Notwithstanding, the bank lending remained strong. Companies are starting to sense tighter credit while they presume the deleveraging to be transitory.


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    10. #249
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      Retail Sales in Japan Fell Off in May

      The retail sales growth in Japan had slowed down in May versus the previous year, which means that consumers remain uncertain on their expenses. Last year, retail sales were able to gain 2 percent in May on the back of 3.2 percent increase in April.

      The surge was mainly driven by motor vehicles, fuel, medicine and toiletries based on the economy ministry of Japan. Compared with the previous month, sales dropped by 1.6 percent from April after a 1.4 percent increase.

      The Japanese economy sustained a five-quarter growth period, influenced by increasing exports and stronger domestic demand. However, the private expenditure weakened due to stagnant wages and without rebound salary as consumers are unlikely to spend a lot more.

      The latest consumption index accelerated by 3.7 percent in May 2016 and decline from April. The statistics were based on JCB Consumption Now index that utilizes credit card data. Yasutoshi Nagai, chief economist at Daiwa Securities based in Tokyo, said: "It's hard to expect consumption to be a driver of growth,". He added that "You see many stores are cutting prices because they can't sell their goods."


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    11. #250
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      CBO Speculates US Budget Deficit Could Surge to $693B

      The Congressional Budget Office stated via its analysis report last Thursday that the US government is in danger of fully depleting its cash reserves as it scrambles to pay all of its bills before October 2017, particularly if the Congress heightens its federal borrowing price ceiling. The CBO also warned that the country’s deficit could balloon up to $693 billion if not addressed properly. Treasury Secretary Mnuchin has long since been appealing to US policymakers to increase the debt limit without any kind of conditions whatsoever before Congress postpones itself for a summer recession starting this coming July 28. Conversely, the US Treasury Department has been utilizing cash conservation procedures in order to cope with the US government’s accountabilities since last March 2017.


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    12. #251
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      Japanese Tank Report Reached a Three-year High in June

      The Japanese Tankan report manifested a positive data as big manufacturers sentiment has exceeded expectations with the index reaching a three-year high. The Big Manufacturers Index came in better-than-expected up by +17 compared to the +15 forecast of Reuters. It increased up to +12 from the poll collected in March. Meanwhile, it is anticipated to reach +15 for the month of September which is higher than the +14 prediction. This index is being monitored closely as it is part of policy making based on a survey of Japanese businesses.

      Other sectors also have shown good progress and large manufacturers in particular shown more prominent growth. The BOJ increased its economic analysis as the GDP forecast grew by 1.6 percent for the 2017-2018 fiscal year from 1.5 percent forecasted in January. However, the core consumer price index (CPI) rose to 1.4 percent from 1.5percent in the same duration.
      Overall, the BOJ remains firm in improving inflation and will proceed with a dovish stance until the target 2 percent inflation has been exceeded in a steady pace.

    13. #252
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      China Factory Accelerate In June, says Caixin

      Factory activity in China improved in June as company reports came in slightly stronger as new orders and number of productions heightened. The Caixin Purchasing Managers' Index accelerated to 50.4 for this month in comparison with 49.6 result in May, based on the figures from the poll of IHS Markit released on Monday. As expected, the readings declined to 49.8, a score greater than 50 suggests an expansion. New orders grew marginally at its fastest pace since March. This resulted to an upsurge in the manufacturing with a marginal rate in June.

      Provided jobs had lowered down last month which indicates that the percentage of job shedding abated on its modest pace which is the most sluggish three months ago.
      The purchasing activity grew in the second quarter, however, corporations deal with a leery attitude on inventories.

      Output charges and input costs boost at end of Q2. Having said that, inflation rates showed a slackening performance since the earlier months of 2017.
      The customer demand was relatively subdued that put pressure on the optimistic tone against the 12-month business outlook, along with its weakening confidence on its six-month low in June.


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    14. #253
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      EU-Japan Formalize its Partnership on Thursday

      Two of largest countries in the world, Japan and the European Union is scheduled to make an agreement and sign a free trade deal on July 6, Thursday. As both nations expect for an unfavorable response when the United States deals with protectionism under the Trump administration.

      It was already confirmed on Tuesday that Japan’s Prime Minister Shinzo Abe will go to Brussels to meet with the leaders of EU institutions. The European Council stated that "Leaders are expected to announce a political agreement on the EU-Japan free trade agreement."

      This could be considered a brief and final settlement to iron out the entire complications between EU and Japan, the European officials further mentioned on Tuesday that there were still some major issues needed to resolve prior the EU-Japan summit on Thursday.

      Since Abe already confirmed his attendance, it only indicates his certainty about the agreement and willing to inscribe his signature as well as to put pressure towards trading negotiators in order to ensure partly an outline of the deal regarding the introduction on each other’s markets. And this includes the European farm produce and Japanese automobiles which are considered the most delicate areas.


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    15. #254
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      China’s Economy Slowed Down in the Second Quarter

      The economy of China could possibly weaken once again in the second quarter of 2017, slowed down by the slight tightening of the monetary policy of the government polled by China economists, Nikkei and Nikkei Quick News.

      Most of the respondents mentioned that the property market failed to advance unlike before and pointed out that the economic decline will become more evident from July to the end of December.

      As indicated in the survey, the average estimate of the economists for the gross domestic product of China will rose by 6.8% in Q2 this year, with marginal easing from the expansion on first quarter at 6.9%. The official figures are scheduled to be release on July 17.


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    16. #255
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      Unexpected Rate Hike of Egypt’s Central Bank

      The Central Bank of Egypt raised its inflation rates by 200 basis points on Thursday for the second time in two policy meetings in a row. Economists were surprised by this decision as the forecast was to maintain its current monetary policies.

      The overnight deposit rate increased to 18.75 percent from 16.75 percent while the overnight lending rate rose to 19.75 from 17.75 percent after the 200 points rate hike in May.

      In November, the Egyptian pound floated in November that reduced its value by half. Inflation followed that resulted in an inflation. Despite its core rate dropped in May, it was sustained the 30 percent year-on-year. This prompted the central bank to raise its interest rate by 300 basis points which that helped the country to secure a lending program from the International Monetary Fund worth $12 billion for three years. This is part of their aspirant reform to raise taxes and subsidy cuts.

      According to the IMF, maintaining its economic reform program is necessary to keep an eye on the reform program and they see rate hike to be appropriate to execute.


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    17. #256
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      Re: Company News By Forexmart

      The current Money Fall contest has already started on July 10, 2017 and will end on July 14, 2017.

      You can register for the next competition which will take place from July 17, 2017 to July 21, 2017

      Note:
      Registration for the next competition finishes 1 hour before the contest starts.

    18. #257
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      Economic News

      Eco Watchers’ Index of Japan Increased Forecasts

      The business confidence index, associated with workers whose jobs are delicate towards the economic situation of Japan, had increased in June for three months in a row. This is because of the advancement in the retail sale as shown in the government statistics on Monday.

      The diffusion index of sentiment regarding the present economic conditions which is so-called “economy watchers,” including restaurant employees and taxi drivers, gained 1.4 points from May reaching 50.0, as stated by the Cabinet Office. The administration added that these figures were the highest recorded since December.

      While the leading economic indicators in the approaching months surged and reached 50.5, higher by 0.9 points. The government was able to maintain its initial assessment for the second time around, claiming that the economy had continuously improved.


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    19. #258
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      EU Leaders Urge Germany to Increase Expenditure

      The economic leaders of the European Union held a meeting on Monday in Brussels, citing that euro countries with huge growth to heighten spending. This is an attempt to convince Germany to step up its public expenditure and to bolster its economic bloc.

      Germany is anticipated to grow by 1.8 percent this 2017, as indicated in the estimate of the International Monetary Fund, while the trade surplus continued to rise.

      The stable development of the German economy was linked with the same advancement in government expenditure with a 0.8 percent record on fiscal surplus in 2016.

      A group of finance ministers was going to discuss at their monthly meeting about the fiscal stance of the EU in 2018 since some urged to influence the budgetary decisions of the 19 EU-member states.

      The effort of the European Commission to make a slight development on fiscal policy for the entire euro area within this year was fulfilled by the German opposition, however, dropped afterward.

      Prior the discussion on the 2018 policy, the Economics Commissioner Pierre Moscovici claimed that the logical basis of fiscal stimulus remains despite firm growth in the euro area.


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    20. #259
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      Italy’s Industrial Output Rose by 0.7 pc in May

      The industrial production of Italy had rebounded in May which gives hints that the growth of the economy till the end of the year may result to an equal or could even jump higher to the pace recorded during the first quarter.

      The production rose by 0.7 percent since April after it dropped on the adjusted 0.5 percent as presented by the Rome-based statistics agency, Istat on Tuesday. While the median estimate of Bloomberg with 21 analysts who answered the survey showed a 0.5 percent increase. The industrial output gained 2.8 percent two months ago according to the yearly and compensation adjustment.

      The upward revision on GDP during the Q1 in 2017 boosts confidence that the third-biggest economy of the euro area will improve.

      The manufacturing index surge in an unexpected way during the month of June, hence, the consumers become more optimistic despite the unemployment rate escalated to 11.3 percent shown in the recently released labor-market data.

      Istat further mentioned in a separate report that their main indicator reflects a “positive outlook for economic activity in the next months”.

      Moreover, the International Monetary Fund increased its economic outlook for Italy in 2017 which is 1.3 percent versus the earlier forecast of 0.8 percent. The organization added that they anticipate a slight growth of 1 percent from 2018 up to 2020.


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    21. #260
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      Singapore GDP Rose 0.4% in Q2 Obviated from recession

      The economy of Singapore rose for the second quarter as it narrowly missed the recession as the engineering industries remained strong with high demand for semiconductor manufacturing equipment. The economy rose to 0.4 percent in the second quarter compared to the previous quarter and based on seasonally adjusted basis according to the Ministry of Trade and Industry.

      It dropped to 1.9 percent in Q1 following the first revision in the first quarter and further declined to the former assumption of a 1.3 percent contraction. Despite the median forecast poll in Q2 declined by 1.1 percent, it is still on track to the overall forecast for the city-state progress.

      The Gross Domestic Product rose 2.5 percent in the second quarter compared last year which was kept the same even after revisions and lower than the 2.8 percent growth. An economist described this as “softer than expected” since the construction has been weak and a slight easing from the manufacturing sector could offset services. At the same time, analysts are skeptical on the country’s sustained growth being electronic dependent and expansion of services may countervail any moderation.


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