Issue 123 - 21.09.2020
21.09.2020

China-EU economic ties resilient despite global trade woes

Despite the shrinking global trade market due to the COVID-19 outbreak, trade flows between China and the European Union (EU) remain comparatively steady and resilient, facilitating the combat against the pandemic and economic rebound in both sides.

In a post-pandemic world where international cooperation and the value of multilateralism are more important than ever, China and the EU could see new opportunities emerge in economic cooperation, experts have said.

Xavier Vanderpepen, who is responsible for China-Europe rail freight activities at Forwardis, a subsidiary of France's national railway company SNCF Logistics, was impressed by the surge of freight train operations between China and Europe during the first half of this year.

"In my company, since April 2020, demand for trains has increased sharply. The increase is more than 20 percent compared to 2019," Wanderpepen said.

The rise contrasted with the overall gloomy picture of global trade in the early months of the pandemic, during which the World Trade Organization in June forecast an 18.5-percent drop in global trade in the second quarter.

Wanderpepen noted that rail transport has been playing an indispensable role in delivering medical supplies from China, which are most needed in Europe for containing coronavirus, and at the same time facilitating transport of massive goods made in France to China where demand picks up robustly, boosting exports and imports in both countries.

Late August, the first freight train with goods exclusively "Made in Austria" pulled out of the Vienna South Terminal for Xi'an, China, while the first "Bay Area" carrying industrial products made in the Guangdong-Hong Kong-Macao Greater Bay Area left south China's economic hub Shenzhen for Duisburg in Germany.

With new routes launched one after another, the number of China-Europe freight trains hit a record high of 1,247 in August, up 62 percent year on year, marking the sixth consecutive month with double-digit growth, data from China State Railway Group showed.

According to the General Administration of Customs, China saw its trade with the EU rise 1.4 percent year on year during the first eight months of 2020, contributing to 14 percent of China's overall foreign trade.

For the EU, in the first seven months of this year, China became the bloc's top trading partner, a position previously held by the United States, said Eurostat on Wednesday. EU's imports from China increased by 4.9 percent in the January-July period from a year ago, while its imports from the United States dropped by 11.7 percent.

For Germany, the largest economy in the EU, China also surpassed the United States for the first time in the second quarter to become its largest export market. Moreover, Germany's exports to China in July have rebounded almost to last year's level, according to Germany's Federal Statistical Office.

With the newly-injected 2 billion euros ($2.37 billion), Germany's Volkswagen Group, the largest auto manufacturer in Europe, announced in May the decision to expand investment in China to develop its electric vehicle business.

Noting that China is the world's biggest market for e-mobility, Stephan Woellenstein, CEO of Volkswagen Group China, said "by opening up the market, China is giving Volkswagen new business opportunities."

Sharing the common stance with the EU of upholding multilateralism, and resisting unilateralism and protectionism, China sticks to opening-up with concrete actions, providing European enterprises with flourishing opportunities in the post-pandemic era.

"The COVID-19 pandemic did not stop the Chinese government from promoting a new round of high-level opening-up," said Li Jian, senior vice president of Danone Greater China, citing the implementation of the country's foreign investment law, as well as pilot projects in free trade zones and cross-border e-commerce zones.

The French food giant announced in July an investment of 100 million euros ($118 million) to strengthen specialized nutrition business in China, including the opening of a research center in Shanghai and the acquisition of local infant milk formula capabilities.

The sheer sizes of both China's economy and the European common market cannot be neglected by entrepreneurs of either side, said Xin Hua, executive deputy director of the Center for European Union Studies at Shanghai International Studies University.

In his view, the already-intertwined bilateral networks of production, trade and investment are based on naturally formed divisions of labor, and have already brought tremendous benefits to businessmen, investors and workers from both sides.

A recent survey by the European Union Chamber of Commerce in China showed that European companies in China reported no significant change in plans to redirect current or planned investments elsewhere.

In the meantime, the Brussels-based China Chamber of Commerce to the EU (CCCEU) saw continuous expansion of its membership, mirroring the steady pace of Chinese enterprises' investing and developing in Europe.

"Europe remains a key destination for Chinese enterprises," said CCCEU Chair Zhou Lihong.

A recent survey jointly conducted by the CCCEU and consulting firm Roland Berger indicated that Chinese companies in the EU are willing to increase investment if the business environment in the bloc gets better.

At a virtual meeting on Monday, Chinese and EU leaders affirmed their commitment to speeding up the negotiations of the China-EU Bilateral Investment Treaty to achieve the goal of concluding the negotiations within this year.

They also announced the official signing of the China-EU agreement on geographical indications, and decided to establish a China-EU High Level Environment and Climate Dialogue and a China-EU High Level Digital Cooperation Dialogue, and to forge China-EU green and digital partnerships.

Zhou from the CCCEU said leaders of the EU and China have sent clear messages that the two sides should unswervingly promote a sound and stable development of their comprehensive strategic partnership, and adhere to peaceful coexistence, openness, cooperation, multilateralism, as well as dialogue and consultation.

"Especially in times of global protectionism, which has been exacerbated by the COVID-19 pandemic, we need a positive signal for international trade," Thilo Brodtmann, executive director of German Mechanical Engineering Industry Association, said in a statement commenting on Monday's meeting.

Meanwhile, some European experts have seen "green growth" as a sustainable way out of the coronavirus crisis and hope to expand and deepen cooperation on green solutions with China.

Finn Mortensen, CEO of State of Green, a Copenhagen-based environmental consulting firm, believed 2020 will mark an important milestone in Denmark-China collaborations.

"We have had very strong cooperation over the years, and now in particular in 2020 we will be focusing further on green solutions, the green transition and sustainable issues in general," Mortensen said.

Reported on September 18 2020 by Xinhua (China).

Eurasia

21.09.2020

China to build community of health for all with Russia, Kazakstan, Kyrgyzstan, Mongolia

China, Russia, Kazakstan, Kyrgyzstan and Mongolia have agreed to jointly build an anti-pandemic fortress, a Health Silk Road and a community of health for all, Chinese State Councilor and Foreign Minister Wang Yi said Wednesday.

The decision was made after he exchanged views with foreign ministers of Russia, Kazakstan, Kyrgyzstan and...

China, Russia, Kazakstan, Kyrgyzstan and Mongolia have agreed to jointly build an anti-pandemic fortress, a Health Silk Road and a community of health for all, Chinese State Councilor and Foreign Minister Wang Yi said Wednesday.

The decision was made after he exchanged views with foreign ministers of Russia, Kazakstan, Kyrgyzstan and...

21.09.2020

Kazakh agricultural exports to China on the increase

Kazakhstan's agricultural exports to China reached 489,000 tons, or 196 million U.S. dollars, in the first half of this year (H1), up by 15 percent year on year, the agriculture ministry said on Wednesday.

According to the ministry, 274,000 tons of crop products and 2,000 tons of livestock products were exported...

Kazakhstan's agricultural exports to China reached 489,000 tons, or 196 million U.S. dollars, in the first half of this year (H1), up by 15 percent year on year, the agriculture ministry said on Wednesday.

According to the ministry, 274,000 tons of crop products and 2,000 tons of livestock products were exported...

21.09.2020

China, Tajikistan to improve security, law enforcement cooperation

Chinese State Councilor and Minister of Public Security Zhao Kezhi Thursday held phone talks with Tajik Minister of Internal Affairs Rahimzoda Ramazon Hamro, urging the two sides to improve security and law enforcement cooperation.

Zhao said that the two sides should implement the important consensus reached by the two heads of...

Chinese State Councilor and Minister of Public Security Zhao Kezhi Thursday held phone talks with Tajik Minister of Internal Affairs Rahimzoda Ramazon Hamro, urging the two sides to improve security and law enforcement cooperation.

Zhao said that the two sides should implement the important consensus reached by the two heads of...

Europe

21.09.2020

China becomes EU's top trading partner from Jan-July

The EU's imports from China increased by 4.9 percent in the January-July period, compared to the same period last year, whereas its imports from the US dropped by 11.7 percent.

The bloc's exports to China recorded a slight drop of 1.8 percent, while those to the US fell by 9.9 percent,...

The EU's imports from China increased by 4.9 percent in the January-July period, compared to the same period last year, whereas its imports from the US dropped by 11.7 percent.

The bloc's exports to China recorded a slight drop of 1.8 percent, while those to the US fell by 9.9 percent,...

21.09.2020

China, EU embrace blockchain to facilitate Belt and Road trade

China and the European Union have both said they will accelerate negotiations in order to conclude a China-EU investment agreement by the end of this year, with its colossal infrastructure project “Belt and Road” at the centre of an era of trade and growth for economies in Asia and beyond.

China’s...

China and the European Union have both said they will accelerate negotiations in order to conclude a China-EU investment agreement by the end of this year, with its colossal infrastructure project “Belt and Road” at the centre of an era of trade and growth for economies in Asia and beyond.

China’s...

21.09.2020

China tops Italy's list of non-EU import partners in 2019

Italy imported more from China than from any other non-European Union (EU) countries in 2019, according to the annual "Blue Book" released by Italy's Customs and Monopolies Agency.

China headed the list of the top non-EU countries from which Italy imported goods, followed by the United States, Turkey, Russia and Switzerland,...

Italy imported more from China than from any other non-European Union (EU) countries in 2019, according to the annual "Blue Book" released by Italy's Customs and Monopolies Agency.

China headed the list of the top non-EU countries from which Italy imported goods, followed by the United States, Turkey, Russia and Switzerland,...

21.09.2020

China keen to play a role as Italy's tourism starts to recover from pandemic

Analysts and observers expect tourists from China to play an over-sized role when the beleaguered Italian tourism sector starts to recover.

In recent years, tourism has accounted for nearly 15 percent of Italy's gross domestic product. But the sector was among the first and hardest-affected parts of the economy when the...

Analysts and observers expect tourists from China to play an over-sized role when the beleaguered Italian tourism sector starts to recover.

In recent years, tourism has accounted for nearly 15 percent of Italy's gross domestic product. But the sector was among the first and hardest-affected parts of the economy when the...

21.09.2020

China becomes Germany's top export market in Q2

China surpassed the US to become Germany's largest export market for the first time in the second quarter of 2020, as China is recovering from the COVID-19 pandemic more quickly.

From April to June, the total value of German exports to China was close to 23 billion euros ($27.25 billion), the...

China surpassed the US to become Germany's largest export market for the first time in the second quarter of 2020, as China is recovering from the COVID-19 pandemic more quickly.

From April to June, the total value of German exports to China was close to 23 billion euros ($27.25 billion), the...

21.09.2020

Ireland's exports to China up 35% in July

Ireland exported over 1 billion euros (about $1.18 billion) of goods to China in July, up 35 percent when compared with the same month last year, according to the latest figures released by the country's Central Statistics Office (CSO).

Meanwhile, Ireland imported 541 million euros worth of goods from China in...

Ireland exported over 1 billion euros (about $1.18 billion) of goods to China in July, up 35 percent when compared with the same month last year, according to the latest figures released by the country's Central Statistics Office (CSO).

Meanwhile, Ireland imported 541 million euros worth of goods from China in...

China, Pacific

21.09.2020

China's investment in Belt and Road countries up 31.5%

China's non-financial direct investments in countries along the Belt and Road (B&R) stood at $11.8 billion in the first eight months, up by 31.5 percent year-on-year, Ministry of Commerce spokesperson Gao Feng shared in a press conference on Thursday.

The investments accounted for 17.2 percent of the country's total non-financial outbound...

China's non-financial direct investments in countries along the Belt and Road (B&R) stood at $11.8 billion in the first eight months, up by 31.5 percent year-on-year, Ministry of Commerce spokesperson Gao Feng shared in a press conference on Thursday.

The investments accounted for 17.2 percent of the country's total non-financial outbound...

21.09.2020

China to keep promoting foreign exchanges, jointly building of BRI in post-pandemic era

China will continue to promote foreign exchanges and cooperation and better synergize the Belt and Road Initiative and various countries' development strategies in the post-pandemic era, Chinese State Councilor and Foreign Minister Wang Yi said Wednesday.

At a time when the prevention and control of COVID-19 have become a regular practice,...

China will continue to promote foreign exchanges and cooperation and better synergize the Belt and Road Initiative and various countries' development strategies in the post-pandemic era, Chinese State Councilor and Foreign Minister Wang Yi said Wednesday.

At a time when the prevention and control of COVID-19 have become a regular practice,...

21.09.2020

China posts solid investment growth

China's investment growth is expected to maintain steady momentum during the rest of the year on the back of adequate funding and an increasing number of projects, the country's top economic regulator said on Wednesday.

The investment growth will be aided by the investment outlay in the central government budget, special...

China's investment growth is expected to maintain steady momentum during the rest of the year on the back of adequate funding and an increasing number of projects, the country's top economic regulator said on Wednesday.

The investment growth will be aided by the investment outlay in the central government budget, special...

21.09.2020

China witnesses major surge in fixed-asset investment projects

China's top economic regulator, the National Development and Reform Commission, said it approved six fixed-asset investment projects worth 88.2 billion yuan ($13 billion) in August, mainly in the transportation and informatization fields.

That compared with its July approval for 38.2 billion yuan worth of projects, Meng Wei, a spokeswoman for the...

China's top economic regulator, the National Development and Reform Commission, said it approved six fixed-asset investment projects worth 88.2 billion yuan ($13 billion) in August, mainly in the transportation and informatization fields.

That compared with its July approval for 38.2 billion yuan worth of projects, Meng Wei, a spokeswoman for the...

21.09.2020

Financial institutions upbeat on China's economic growth

Several foreign financial institutions have raised their forecasts of China's economic growth for the rest of the year as the country's key economic indicators point to strong recovery amid COVID-19 prevention and control.

Quick containment of the epidemic and effective monetary and fiscal policies have largely contributed to the country's stronger-than-expected...

Several foreign financial institutions have raised their forecasts of China's economic growth for the rest of the year as the country's key economic indicators point to strong recovery amid COVID-19 prevention and control.

Quick containment of the epidemic and effective monetary and fiscal policies have largely contributed to the country's stronger-than-expected...

21.09.2020

China takes further measures to boost development of state and private businesses

China will take solid steps in implementing the three-year action plan for SOE reform, and make more efforts to create a level playing field for private firms, the State Council's executive meeting chaired by Premier Li Keqiang decided on Thursday.

Li stressed that SOEs should focus on their main responsibility and...

China will take solid steps in implementing the three-year action plan for SOE reform, and make more efforts to create a level playing field for private firms, the State Council's executive meeting chaired by Premier Li Keqiang decided on Thursday.

Li stressed that SOEs should focus on their main responsibility and...

21.09.2020

China's manufacturing sector sees rapid recovery

During the COVID-19 epidemic, China's manufacturing sector withstood the test posed by the virus, and helped ensure stable global industrial and supply chains.

In August, the country's exports totaled nearly 1.7 trillion yuan, up 11.6 percent, an increase that has been attributed to the rapid recovery of China's manufacturing sector.

China has...

During the COVID-19 epidemic, China's manufacturing sector withstood the test posed by the virus, and helped ensure stable global industrial and supply chains.

In August, the country's exports totaled nearly 1.7 trillion yuan, up 11.6 percent, an increase that has been attributed to the rapid recovery of China's manufacturing sector.

China has...

21.09.2020

Scale of China's public offering funds tops 17t yuan

The scale of China's public offering funds reached 17.8 trillion yuan (about $2.63 trillion) by the end of August this year, data from the Asset Management Association of China showed.

The latest figures marked an increase of 0.62 percent from the scale reported at the end of July.According to the association,...

The scale of China's public offering funds reached 17.8 trillion yuan (about $2.63 trillion) by the end of August this year, data from the Asset Management Association of China showed.

The latest figures marked an increase of 0.62 percent from the scale reported at the end of July.According to the association,...

21.09.2020

China’s stock markets thrive as funds lead overall business rebound

China stocks finished higher on Monday with Shanghai’s Nasdaq-style STAR Market leading gains after securities regulator approved the first batch of exchange-traded funds (ETFs), which are expected to draw fresh funds towards the market.

Analysts said investor sentiment was also supported by recent upbeat economic data, suggesting broad economy was bouncing...

China stocks finished higher on Monday with Shanghai’s Nasdaq-style STAR Market leading gains after securities regulator approved the first batch of exchange-traded funds (ETFs), which are expected to draw fresh funds towards the market.

Analysts said investor sentiment was also supported by recent upbeat economic data, suggesting broad economy was bouncing...

21.09.2020

China aims to boost yuan’s global drive along the Silk Road

A senior Chinese government adviser said that Beijing aims to use its national currency, the yuan, “as much as possible” in its Belt and Road Initiative (BRI), to try to expand its use as a reserve currency.

According to the former mayor of Chongqing Huang Qifan, the yuan’s share of global payments...

A senior Chinese government adviser said that Beijing aims to use its national currency, the yuan, “as much as possible” in its Belt and Road Initiative (BRI), to try to expand its use as a reserve currency.

According to the former mayor of Chongqing Huang Qifan, the yuan’s share of global payments...

21.09.2020

China imports more major commodities amid improving economic activity

China's imports of major commodities including crude oil, iron ore and soybean climbed in the first eight months of the year, as the country's economic activity gradually recovered from the COVID-19 hit, according to customs data.

Imports of crude oil surged 12.1 percent to 368 million tons during the January-August period,...

China's imports of major commodities including crude oil, iron ore and soybean climbed in the first eight months of the year, as the country's economic activity gradually recovered from the COVID-19 hit, according to customs data.

Imports of crude oil surged 12.1 percent to 368 million tons during the January-August period,...

21.09.2020

China proves to be magnet for international investors

China has become a major attraction for international private equity investors, said industrial leaders at the 2020 Global PE Forum in Beijing during the China International Fair for Trade in Services.

The growth of the Chinese private capital industry over the last two decades has been remarkable, with total capital invested...

China has become a major attraction for international private equity investors, said industrial leaders at the 2020 Global PE Forum in Beijing during the China International Fair for Trade in Services.

The growth of the Chinese private capital industry over the last two decades has been remarkable, with total capital invested...

21.09.2020

Unwavering trust in state support upholds China’s stock markets, currency

China stocks staged a strong finish on Friday, led by heavyweight financials on hopes of fresh supportive measures to boost the virus-ravaged economy, while a strong yuan also helped lure foreign inflows.

The blue-chip CSI300 index ended up 2.3% at 4,737.09, while the Shanghai Composite Index rose 2.1% to 3,338.09.

For the...

China stocks staged a strong finish on Friday, led by heavyweight financials on hopes of fresh supportive measures to boost the virus-ravaged economy, while a strong yuan also helped lure foreign inflows.

The blue-chip CSI300 index ended up 2.3% at 4,737.09, while the Shanghai Composite Index rose 2.1% to 3,338.09.

For the...

21.09.2020

Foreign firms step up investments in China

The opening of a new battery plant affiliated to BMW is the latest testament to the confidence of foreign firms in the Chinese market amid the country's steady economic recovery and resolute commitment to opening up.

BMW Brilliance Automotive (BBA), a joint venture between BMW Group and Brilliance China Automotive Holdings...

The opening of a new battery plant affiliated to BMW is the latest testament to the confidence of foreign firms in the Chinese market amid the country's steady economic recovery and resolute commitment to opening up.

BMW Brilliance Automotive (BBA), a joint venture between BMW Group and Brilliance China Automotive Holdings...

21.09.2020

China's fiscal revenue up 5.3 pct in August

China's fiscal revenue climbed 5.3 percent year on year in August to reach 1.2 trillion yuan (177.54 billion U.S. dollars), official data showed Friday.

In the first eight months, fiscal revenue totaled 12.68 trillion yuan, down 7.5 percent year on year, narrowing from a decline of 8.7 percent in the first...

China's fiscal revenue climbed 5.3 percent year on year in August to reach 1.2 trillion yuan (177.54 billion U.S. dollars), official data showed Friday.

In the first eight months, fiscal revenue totaled 12.68 trillion yuan, down 7.5 percent year on year, narrowing from a decline of 8.7 percent in the first...

21.09.2020

Cross-Straits trade, Taiwan investment on mainland keep growing

Trade between both sides of the cross-Straits and Taiwan investment on the Chinese mainland maintained growth this year, said Ma Xiaoguang, a spokesperson for the Taiwan Affairs Office of the State Council, at a press conference.

Cross-Straits trade volume from January to August totaled $158.93 billion, up 10 percent year on...

Trade between both sides of the cross-Straits and Taiwan investment on the Chinese mainland maintained growth this year, said Ma Xiaoguang, a spokesperson for the Taiwan Affairs Office of the State Council, at a press conference.

Cross-Straits trade volume from January to August totaled $158.93 billion, up 10 percent year on...

21.09.2020

Australia’s barley exports to China may slump 10-20% in 2021

Australia's barley exports to China are projected to drop 10-20 percent in 2021, amid deteriorating China-Australia economic and trade relations, an expert on Chinese-Australian relations told the Global Times on Wednesday. 

The comment came as the anti-dumping tariffs China imposed on barley imported from Australia is having an effect.The Australian Bureau...

Australia's barley exports to China are projected to drop 10-20 percent in 2021, amid deteriorating China-Australia economic and trade relations, an expert on Chinese-Australian relations told the Global Times on Wednesday. 

The comment came as the anti-dumping tariffs China imposed on barley imported from Australia is having an effect.The Australian Bureau...

South Asia, Middle East

21.09.2020

CPEC Rashakai SEZ becomes gateway to economic prosperity

Despite substantial population growth, the Asian continent has achieved remarkable successes after shifting the engine of economic and industrial growth from Global North to Global South during the last few decades.

The positive transformation has also been witnessed in South Asia including Pakistan where communication infrastructure, economy, trade, forest, agriculture, education,...

Despite substantial population growth, the Asian continent has achieved remarkable successes after shifting the engine of economic and industrial growth from Global North to Global South during the last few decades.

The positive transformation has also been witnessed in South Asia including Pakistan where communication infrastructure, economy, trade, forest, agriculture, education,...

21.09.2020

Iran seeks to expand handicrafts market in southern China

Iran seeks to expand handicrafts exports to southern China, including Guangzhou province, mainly through holding exhibitions and selling products online.

The scheme is based on a previously-discussed initiative “One Belt and One Road Intangible Cultural Heritage Exchange” aimed to revive the glory of arts, architecture, and civilizations along the ancient Silk...

Iran seeks to expand handicrafts exports to southern China, including Guangzhou province, mainly through holding exhibitions and selling products online.

The scheme is based on a previously-discussed initiative “One Belt and One Road Intangible Cultural Heritage Exchange” aimed to revive the glory of arts, architecture, and civilizations along the ancient Silk...

Africa, Americas

21.09.2020

China-Africa connection serves mutual progress

The Extraordinary China-Africa Summit on Solidarity Against COVID-19, co-chaired by President Xi Jinping and held via video link in June, injected new dynamism into Sino-African friendship and cooperation in the fight against the novel coronavirus pandemic.

China and Africa have been working together to expeditiously implement the outcomes of the meeting,...

The Extraordinary China-Africa Summit on Solidarity Against COVID-19, co-chaired by President Xi Jinping and held via video link in June, injected new dynamism into Sino-African friendship and cooperation in the fight against the novel coronavirus pandemic.

China and Africa have been working together to expeditiously implement the outcomes of the meeting,...

21.09.2020

China’s market to open further to most competitive US companies

China's market will continue to open further for US companies in areas where the United States is most competitive such as energy, agriculture and finance, Chinese Ambassador to the United States Cui Tiankai has said.

"The answer is certainly yes," said Cui when former US Treasury Secretary Hank Paulson raised the...

China's market will continue to open further for US companies in areas where the United States is most competitive such as energy, agriculture and finance, Chinese Ambassador to the United States Cui Tiankai has said.

"The answer is certainly yes," said Cui when former US Treasury Secretary Hank Paulson raised the...

21.09.2020

China trims US Treasury debt for second straight month in July

China slightly trimmed its holding of US Treasury bonds for the second straight month in July, continuing a downward spiral amid growing risks of greenback assets.

China cut its US Treasury bond holdings by $1 billion in July to $1.07 trillion, US Treasury Department data showed Wednesday.As of July, China remained...

China slightly trimmed its holding of US Treasury bonds for the second straight month in July, continuing a downward spiral amid growing risks of greenback assets.

China cut its US Treasury bond holdings by $1 billion in July to $1.07 trillion, US Treasury Department data showed Wednesday.As of July, China remained...

Markets

21.09.2020

Greenback resumes slide as COVID bug, US upper echelons’ disputes continue to feed concerns

The dollar slipped on Monday against its major peers, dropping to a two-week low versus the yen, as positive news about a COVID-19 vaccine and a wave of merger and acquisition deals lifted the mood in global equity markets. Investors also looked ahead to an event-packed week which includes a...

The dollar slipped on Monday against its major peers, dropping to a two-week low versus the yen, as positive news about a COVID-19 vaccine and a wave of merger and acquisition deals lifted the mood in global equity markets. Investors also looked ahead to an event-packed week which includes a...

21.09.2020

Global stock markets gain strength amidst bugs and drugs

World stocks nudged higher on Monday on hopes for a coronavirus vaccine after AstraZeneca resumed its phase-3 trial, but the gains were limited as caution prevailed before a host of central bank meetings this week.

Sterling, which has been hurt by renewed Brexit turmoil, firmed before a key vote on British...

World stocks nudged higher on Monday on hopes for a coronavirus vaccine after AstraZeneca resumed its phase-3 trial, but the gains were limited as caution prevailed before a host of central bank meetings this week.

Sterling, which has been hurt by renewed Brexit turmoil, firmed before a key vote on British...

21.09.2020

Brent retreats further below $40/b threshold

Oil prices slipped slightly on Monday amid concerns about a stalled global economic recovery and with Libya poised to resume production, and failed to get support from an impending storm which has disrupted U.S. oil output. Brent crude was down 35 cents, or 0.9%, at $39.48 a barrel while U.S....

Oil prices slipped slightly on Monday amid concerns about a stalled global economic recovery and with Libya poised to resume production, and failed to get support from an impending storm which has disrupted U.S. oil output. Brent crude was down 35 cents, or 0.9%, at $39.48 a barrel while U.S....

21.09.2020

Bulls get back to bullion as greenback shows no resilience

Gold jumped about 1% on Monday as the dollar weakened, while expectations around the U.S. Federal Reserve maintaining its dovish monetary policy this week further boosted the safe haven metal's allure.

Spot gold rose 0.9% at $1,959.64 per ounce by 11:20 a.m. EDT (1520 GMT). U.S. gold futures rose 1.1% to...

Gold jumped about 1% on Monday as the dollar weakened, while expectations around the U.S. Federal Reserve maintaining its dovish monetary policy this week further boosted the safe haven metal's allure.

Spot gold rose 0.9% at $1,959.64 per ounce by 11:20 a.m. EDT (1520 GMT). U.S. gold futures rose 1.1% to...

21.09.2020

Non-ferrous base metals markets upbeat on China demand

London copper held steady on Monday, underpinned by ongoing Chinese demand for the metal highly prized in construction and renewable energy, although a flurry of physical demand for the metal continued to ease.

London Metal Exchange copper traded up 0.1% at $6,748.50 a tonne by 0542 GMT, holding gains from the...

London copper held steady on Monday, underpinned by ongoing Chinese demand for the metal highly prized in construction and renewable energy, although a flurry of physical demand for the metal continued to ease.

London Metal Exchange copper traded up 0.1% at $6,748.50 a tonne by 0542 GMT, holding gains from the...

21.09.2020

US wheat futures up on supply bottleneck speculations

Chicago soybean prices gained for a second consecutive session on Monday, rising above $10 a bushel for the first time in more than two years as Chinese buying and a lower U.S. production estimate supported prices. Corn jumped to its highest since mid-March while wheat ticked higher. On Friday, the...

Chicago soybean prices gained for a second consecutive session on Monday, rising above $10 a bushel for the first time in more than two years as Chinese buying and a lower U.S. production estimate supported prices. Corn jumped to its highest since mid-March while wheat ticked higher. On Friday, the...

21.09.2020

Greenback extends downfall, weak US data pointed at

The dollar extended overnight losses on Friday after data on Thursday pointed to a slowdown in the U.S. economic recovery, while riskier currencies gained, with the Aussie and Kiwi dollars up.

Data released on Thursday showed that the number of people filing new claims for unemployment benefits fell less than expected.

Homebuilding...

The dollar extended overnight losses on Friday after data on Thursday pointed to a slowdown in the U.S. economic recovery, while riskier currencies gained, with the Aussie and Kiwi dollars up.

Data released on Thursday showed that the number of people filing new claims for unemployment benefits fell less than expected.

Homebuilding...

21.09.2020

Return of the bug thought to pull world stock markets down

Global equity markets slid on Friday as investors sought direction after this week’s U.S. Federal Reserve meeting and a jump in coronavirus cases in Europe rattled sentiment, while gold rose and safe-haven buying lifted the Japanese yen.

European stocks struggled for momentum in early deals on Friday, with a resurgence in...

Global equity markets slid on Friday as investors sought direction after this week’s U.S. Federal Reserve meeting and a jump in coronavirus cases in Europe rattled sentiment, while gold rose and safe-haven buying lifted the Japanese yen.

European stocks struggled for momentum in early deals on Friday, with a resurgence in...

21.09.2020

Brent dangles between Libya’s return and GLOPEC support, up on week

Oil prices were unchanged on Friday, weighed after a Libyan commander said a blockade on the country’s oil exports would be lifted for a month, while supportive signals from an OPEC+ meeting lifted futures. Both the U.S. and Brent crude benchmarks posted weekly gains after Saudi Arabia pressed allies to...

Oil prices were unchanged on Friday, weighed after a Libyan commander said a blockade on the country’s oil exports would be lifted for a month, while supportive signals from an OPEC+ meeting lifted futures. Both the U.S. and Brent crude benchmarks posted weekly gains after Saudi Arabia pressed allies to...

21.09.2020

Europe braces for continuous pressure on natural gas price settings

Brimming storage tanks and ample supplies mean European gas wholesale prices are unlikely to rise significantly over the peak demand winter months, unless the weather is abnormally harsh. In the first half of this year, European gas prices touched record lows after a glut of liquefied natural gas (LNG) came...

Brimming storage tanks and ample supplies mean European gas wholesale prices are unlikely to rise significantly over the peak demand winter months, unless the weather is abnormally harsh. In the first half of this year, European gas prices touched record lows after a glut of liquefied natural gas (LNG) came...

21.09.2020

Bullion rides high as states fall short in upholding ailing economies

Gold prices rose on Friday as gloomy U.S. jobs data cast a shadow over the economic outlook, and major central banks pledged to roll out further stimulus if required to revive their coronavirus-battered economies.

Spot gold climbed 0.5% to $1,951.32 per ounce by 0348 GMT, having fallen to a one-week low...

Gold prices rose on Friday as gloomy U.S. jobs data cast a shadow over the economic outlook, and major central banks pledged to roll out further stimulus if required to revive their coronavirus-battered economies.

Spot gold climbed 0.5% to $1,951.32 per ounce by 0348 GMT, having fallen to a one-week low...

21.09.2020

Copper hits two-year peak, leads base metals price surge on speculative buying

Copper touched its highest in more than two years on Friday as speculators extended their buying spree on a recovery in top metals consumer China while the dollar weakened. Benchmark copper on the London Metal Exchange (LME) hit $6,850 a tonne, its highest since June 2018, before paring gains to...

Copper touched its highest in more than two years on Friday as speculators extended their buying spree on a recovery in top metals consumer China while the dollar weakened. Benchmark copper on the London Metal Exchange (LME) hit $6,850 a tonne, its highest since June 2018, before paring gains to...

21.09.2020

US wheat futures regain strength as FSU export prices edge up

Chicago soybeans rose again on Friday to reach a fresh two-year high as brisk U.S. exports of the oilseed to China continued to buoy prices. Corn was steady near a six-month high with spillover support from soybeans, while Chicago wheat also edged up. The most-active soybean contract on the Chicago...

Chicago soybeans rose again on Friday to reach a fresh two-year high as brisk U.S. exports of the oilseed to China continued to buoy prices. Corn was steady near a six-month high with spillover support from soybeans, while Chicago wheat also edged up. The most-active soybean contract on the Chicago...