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Tuesday 24.04.2018 | Name days: Nameda, Visvaldis, Ritvaldis

Expert: price gains to continue at global markets next year

The sharp rise in prices of different goods suggest we are living in a limited opportunity world – the developing countries’ growth inevitably leads to the global price surge, the economist Paul Krugman points out.

Oil prices exceed 91 US dollars per barrel

The United States of America crude prices have exceeded 91 US dollars per barrel, affected by weaker dollar and cold weather.

EP member: bank activities – not the cause of crisis

The reason for lending boom was the lack of cross-border surveillance, and Swedish banks cannot be blamed for starting the economic crisis, considers the European Parliament member from Sweden and the European People’s Party fraction Vice -President Gunnar Hökmark.

China raises benchmark rates twice in two months

On December 25, China’s Central Bank increased the benchmark lending and deposit rates by 25 basis points. The rate increase has happened already twice during the last two months.

Medvedev: Russia will not repeat USSR mistake - declaring itself a super-country

Russia is not going to qualify for the title of super power country, points out the President of Russia Dmitry Medvedev, calling on other countries to also refrain from such statements.

Oil price hits two-year high

On Thursday, December 23, the oil price reached the highest peak in almost two years. This is due to unexpected rise in demand on the global market, which in turn led to the largest drop over the last 10 years in the US crude stockpiles.

Deutsche Bank to pay 554 million dollars for fraudulent tax shelters

The leading bank of Germany Deutsche Bank has admitted its criminal wrongdoing and agreed to pay 553.6 million dollars (LVL 297 million) not to face prosecution in the United States of America (US) over fraudulent tax shelters, generating 29 billion dollar (LVL 15.5 billion) in fake tax losses.

IMF sells 403 tons of gold

The International Monetary Fund has sold 13% of its gold reserves – overall 403 tons of gold have been sold since September 2009.

Decline in crude stocks boosts oil price to surpass 90 US dollars

Oil price a barrel climbed above 90 dollars on December 22, due to a considerable drop in crude oil and gasoline inventories as the severe winter weather has affected oil sales in both Europe and the United States of America (USA) significantly.

Moody's plans to cut Portugal rating

The international rating agency Moody’s is considering possible downgrade of Portugal's credit rating.

France and Germany to block Romania and Bulgaria’s Schengen zone entry

France and Germany have decided to block Romania and Bulgaria’s accession to Schengen zone next year, the European Commission's press representative revealed on Tuesday, December 21.

Standard & Poor's raises China and Hong Kong’s credit rating

The rating agency Standard & Poor’s has raised China’s credit rating from A+ to AA- with a stable outlook.

Moody’s cuts Ireland’s credit rating

The international rating agency Moody’s has lowered Ireland’s credit rating by five levels, noting that a further reduction is possible since the Irish government still struggles to prevent losses in the state banking system.

Portugal faces sugar deficit

Portugal has become the first European country witnessing sugar shortage in three decades time.

Survey: Facebook recognized as the best workplace in US

Among the largest companies in the US, Facebook has been regarded the best workplace, suggests the survey on career opportunities, which was conducted by the portal Glassdoor.

Several China provinces to reach Russia GDP indicators in ten year’s time

By 2020, the economy of six provinces in China will form as high gross domestic product as that of Russia and Canada, indicates the survey by Britain’s largest bank HSBC.

Economist: China to face difficult battle with inflation

Inflation in China is much higher and more large-scale than forecast by several economists, forcing the Central Bank to rely on various severe measures in order to limit price growth, the economist at Essence Securities Gao Shanwen points out.