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Economics Gazette

Economy and Business news




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January 18, 2018

Global house price growth slows for third consecutive quarter

Annual house price growth in largest cities around the world is slowing for the third consecutive quarter, but cities in the United States and Canada do not fit into the downward trend. Overall, house prices rose by 4.7% in the quarter to end-September 2017, up from 5.8% in the previous quarter. Leader is Reykjavik with

Economics

Irish Prime Minister blames the EU for hypocrisy over corporate tax

Irish Prime Minister Leo Varadkar blames the other EU countries today for hypocrisy over corporate tax, rejecting claims of the European Parliament that Ireland is a tax haven. In a speech in Strasbourg, where he highlighted Dublin’s commitment to the EU, Leo Varadkar responded to the unfair accusations that Ireland is harming its neighboring economies

Eurozone consumer price growth reached 1.4% in December 2017

The Eurozone consumer price growth in December 2017 reached 1.4% yoy, from 1.5% in the previous month, according to revised data confirming previous reading. The rate of increase in prices is mainly declining for energy and unprocessed foods. The growth slows down mainly due to cheaper phone calls, clothes and vegetables. On an annual basis,

Turkish debt rose by 58% in 2017

Turkish debt in 2017 has reached 47.4 billion TRY (12.9 billion USD), representing increase of 58% compared to 2016 when it was 29.9 billion TRY. This was made clear at a press conference by Finance Minister Naci Agbal. Despite the dramatic increase in his words, the government has achieved its goals, defining the budget balance

Markets

Bitcoin price collapsed by 25% in a day

The Bitcoin continues to fluctuate slight over 10,000 USD falling 26% in Asian trade and continue its free fall during the European session. The depreciation of the cryptocurrency with largest market value continues, against the backdrop of the increasing intentions of regulators around the world to introduce rules to curb the growth of the cryptocurrency

Copper price fell significantly due to high reserves

After the long upward trend, the metal prices began to decline. The copper, aluminum and nickel prices fell by more than 2% on Tuesday after investors focused on the dollar’s appreciation and the evidence that there is enough supply on the physical commodity market. The noble metals also moved in negative territory and silver fell

France wants tougher rules for crypto-currencies

French Economy and Finance Minister Bruno Le Maire wants new regulations at virtual currencies to stop using them for tax evasion, terrorist financing and other crimes. Bruno Le Maire has announced in a broad speech today that has instructed a former central banker to develop any new rules and warn about the “risks of speculation

Eurozone trade surplus accelerated in November 2017

Eurozone trade surplus accelerated in November to 26.3 billion EUR, which is the highest value in eight months. For comparison, in November 2016, it amounted to 23.8 billion EUR. Eurozone countries exported goods to the rest of the world (including the other non-Eurozone EU Member States) for 197.5 billion USD, representing an increase of 7.7%

Bundesbank included the Chinese yuan in its reserves

The German central bank, Bundesbank, has decided to include the Chinese yuan in its own reserves, which gives further impetus to the international status of the currency. At an event in Hong Kong on Monday, a member of the Bundesbank Board, Andreas Dombret, said the decision was taken last year after a 500-million-euro investment by

Employment

Britain may lose half a million jobs in Hard Brexit

Britain could lose nearly half a million jobs and 50 billion GBP (67 billion USD) of investment within 12 years if London fails to enter into a trade agreement with the European Union. This is clear from a report commissioned by the mayor of the British capital, Sadiq Khan. The study examines five different scenarios