Category: Economy

Grexit delayed, but not avoided

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European leaders have agreed measures with Greece to provide bridge financing and open discussions about an ESM package, subject to upfront conditions being met. The deal addresses most of the immediate risks, but we do not believe it removes the…

Saudi Arabia, partners turn down Chinese requests for extra oil

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* Kuwait, UAE also deny requests for more cargoes * Middle East crude flows to China down over 10 pct since January * Reductions come despite record Saudi exports, Chinese demand * Crude needed to meet rising Mideast refining demand By Chen…

Global Financial Operational risk ratings

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RATINGS CHANGES There were changes to risk scores in 34 countries during the latest monthly updating cycle of the Risk Briefing model. These led to upgrades of the overall score in only nine cases, but there were seven downgrades. In…

EU digests Russia’s South Stream announcement

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BRUSSELS EUObserver- EU diplomats predict Turkey will use Russia’s South Stream decision as leverage in accession talks, as the European Commission handles the financial implications for member states. The deliberations come after Russian leader Vladimir Putin on Monday (1 December) in…

Oil price slumps as OPEC holds firm

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As we expected, OPEC kept its production target of 30m barrels/day (b/d) of crude oil steady at its six-monthly meeting on November 27th. With global oil markets oversupplied, benchmark oil prices slumped on the news. Brent, the international crude grade, fell from…

China – Has monetary policy shifted?

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The People’s Bank of China (PBC, the central bank) surprisingly cut benchmark interests rates on November 21st. This has generated speculation that further monetary policy easing will follow, as the authorities seek to ward off deflationary pressures and stimulate economic growth.…

World risk: Operational financial risk ratings review

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FROM THE ECONOMIST INTELLIGENCE UNIT RATINGS CHANGES There were changes to risk scores in 26 countries during the latest monthly updating cycle of the Risk Briefing model. These led to upgrades of the overall score in only five cases, but…