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Tuesday 25.09.2018 | Name days: Rauls, Rodrigo

Oil price drops over China and US economy

Oil price fell on Monday, July 11, over a decline in China's crude imports and the US employment rates, spurring concerns about a drop in the world's two largest energy consumers’ demand.

Bank of Belarus reports currency market stabilization

The situation in the state currency market has stabilized after the crisis in this spring. Also, the monitoring at the state domestic currency market indicates growth in all segments, informs the National Bank of Belarus.

Global food prices rising sharply

In June 2011, food prices gained rapidly on the world market. Moreover, food prices are starting to near the February 2011 price record, according to the United Nations data release.

ECB raises its interest rates

On Thursday, July 7, the European Central Bank raised its benchmark interest rate by 0.25 percentage points – from 1.25% to 1.5% per year, which is the highest rate since March 2009.

Bank cards outrival paper bills in US

Given that plastic bank cards are very widespread, the amount of paper bills put into circulation is shrinking in America. The US Treasury data show that last year the amount of issued five-dollar bills hit a 30-year-low.

Apple to launch new iPhone

The information technology company Apple plans to launch a new smartphone iPhone version in the third quarter of 2011 – the new model will be even lighter and thinner than iPhone 4.

Sweden – rock star of recovering from crisis

Sweden has achieved what the United States, Britain and Japan can only dream of: created jobs and boosted competitiveness.

Moody's slashes Portugal's credit rating by several notches

The international rating agency Moody's Investors Service has downgraded Portugal’s long-term bond credit rating from Baa1 to Ba2, which is below the investment grade. Portugal’s credit rating now has negative outlook.

Google to delete all private profiles from August 1

If you are using Google profile, which is set to private mode, it means that you do not use services properly.

Brent price jumps over 114 US dollars

On July 6, Brent crude exceeded 114 US dollars. This is linked to expectations of higher demand in the coming months, as well as to concerns over the modest growth of Chinese economy and debt crisis in the euro zone.

Moody's finds a hole in China’s banking system

China’s banks have secured more loans to its local governments than indicated in the official statistics. This threatens to worsen the country's banking sector outlook, consider experts at the international rating agency Moody's.

Amazon acquires online book retailer

The e-commerce giant Amazon is taking over one of its competitors, announcing that it has acquired the international book sales website The Book Depository International.

Latvia's industrial producer prices – second highest in EU

Compared to April, producer prices in the EU fell 0.3% in May 2011, while in the eurozone – by 0.2%. Month-on-month, Latvia reported the second largest price gains in the EU, hitting 1.3%, indicate Eurostat data.

Greece not to overcome crisis by late 2011

The Greek economy will remain in recession until the end of this year, believe the European Commission and the European Central Bank, forecasting that the country's gross domestic product will shrink 3.75%.

Arab Emirates: oil prices too high and inadequate

The United Arab Emirates are sharply criticizing OPEC's decision not to increase oil output, questioning whether the reduction of strategic reserves will enhance the efficiency of top crude consumers.

US credit rating in treats of steep downgrade

The rating agency Standard & Poor's is ready to downgrade the US credit rating to «selective default» level if the White House does not pay the national debt worth 30 billion US dollars (LVL 14.67 bln) by August 4, this year.

Belarus asks Russia to freeze the gas price

Belarus has requisted Russia to freeze the gas price this year, announced Vladimir Semashko, the country’s Deputy Prime Minister. So far, Belarus, who is currently facing an economic crisis, has managed to pay for Gazprom's supplied gas within the set time-limits.

Eurozone’s inflation estimate for June – 2.7%

In June 2011, inflation in the eurozone is likely to hit 2.7%, compared to the same month last year, reports Eurostat.

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