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Friday 17.01.2020 | Name days: Tenis, Dravis

Honda suspends production in Japan

Car maker Honda Motor Co has announced it will suspend production in Japan by March 20, due to the massive earthquake in north Japan.

Lukoil loses 164 million lats on dropping assets value

The major private oil company in Russia Lukoil lost 164 million dollars last year, propelled by a drop in a number of assets values.

China to boost investments in nuclear energy

China plans to increase investment volume in technology development and training of qualified workers in the nuclear energy sector, in order to reduce the country’s dependence on the global oil market.

Dow Jones industrial average tumbles record-low since August 2010

Dow Jones industrial index has reached its biggest drop in the stock market since last August. This is due to the unemployment rise, trade deficit and China’s export growth slowdown, raising concerns about the emergence of another US economic pitfall.

North Japan sees tsunami after massive quake

On Friday, March 11, 8.9-point earthquake shook Japan’s northern territory, causing a tsunami wave flooding the coast and nearby houses, reports CNN.

Moody’s cuts Spain’s credit rating

The international rating agency Moody’s has downgraded Spain’s credit rating from Aa1 to Aa2, with a negative future outlook.

Slower export growth boosts unexpected trade deficit in China

China reports unexpected seven-years high trade deficit of 7.3 billion dollars. Exports climbed 2.4% in February, accounting for the smallest growth since 2009.

Volkswagen passenger cars deliveries grow 14.1% in early 2011

The Volkswagen Passenger Cars brand delivered 758 100 vehicles to clients worldwide during the first two months of 2011, outdoing the performance of the exact period a year ago by 14.1%.

Poland threatens to sue Gazprom

The Polish state-owned company PGNiG has threatened to litigate with Gazprom in case the negotiations on the gas price reduction will not have a favourable outcome for Poland.

World’s richest man – Carlos Slim

The Mexican media tycoon Carlos Slim has ranked at the first place in Forbes magazine list of the world’s wealthiest people. Slim’s wealth has been estimated at 74 billion dollars.

Fitch forecasts China might face bank crisis

There is 60% chance China will face bank crisis by mid-2013, according to Fitch Ratings senior director Richard Fox forecasts.

Moody's cuts 3 steps of Greece debt rating

Moody’s Investors Service has cut three steps of Greece’s credit rating from Ba1 down to B1 with negative outlook.

US might use its oil reserves to cut gasoline prices

The United States President Barack Obama's Administration is reviewing the possibility to use the national strategic oil reserves to reduce the high gasoline prices.

Russian Nord Stream pipeline is «unstoppable»

Objections from the part of Sweden regarding the Russian Nord Stream pipeline to supply Germany with Russian natural gas along the Baltic Sea were not taken into consideration in the government of Russia, according to documents published by WikiLeaks.

Foreign banks leave Russia

Western banks did once consider Russian market to be prosperous, however now certain credit institutions have changed their mind - at least six European and US banks have announced their plans to limit or stop their activities in Russia.

Trichet’s statement boosts euro exchange rate

The euro exchange rate has amounted to 1.3956 dollars, which is the highest indicator since last November. The European single currency started rising against dollar after the European Central Bank President Jean-Claude Trichet's announcement on the soon base rate increase in the eurozone.

Tension in Lybia nears Brent crude to 116 dollars

On March 4 morning, oil prices drew close to 116 US dollars per barrel. Such price surge was affected by the fierce battle between Libya’s government and protesters, raising concerns about a prolonged reduction in oil output in the OPEC countries.

Sweden's economy grows 7.3%

Sweden's GDP grew 7.3% in Q4, compared to the exact period in 2009, thus beating forecasts of analysts, according to official statistics.

Financial Times: Baltics report signs of real estate market recovery

From a long-term perspective, the real estate sector is stabilizing in the Baltic States of Lithuania, Latvia and Estonia even after the setbacks of the past three years.

Tension in East boosts US oil stocks drop and oil gains

Brent oil keeps gaining after hitting 2-1/2-year high in the morning of February 2. The reason for such a price surge is the growing tension in Lybia, raising fear in other oil producers in the Middle East and North Africa. At the same time, oil and fuel stocks are unexpectedly falling in the US.

Russia needs 10 trillion rubles for energy modernization

Russia’s Energy Ministry is drafting a programme for energy sector modernization by 2030, requiring more than ten trillion rubles.

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