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Economics Gazette

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December 14, 2017

Markets

Coal

The EC will not abandon coal regions

A new platform will bring together national, regional and local responsibles for the transformation of coal regions in the EU, said the European Commission. The community has 41 regions in 12 countries where mining coal is developing. With the “Clean Energy for All Europeans” package, however, the EU’s focus is shifting and coal no longer

US tax reform

US tax reform can bring serious negatives to the global trade

Germany, France, Italy, Spain and the UK have expressed concerns about the draft tax reform, which is expected to be finalized by the US Congress. In a letter signed by the finance ministers of the five largest economies in the European Union had access, the parties warned that “the inclusion of some less conventional international

OPEC secretary

OPEC is moving closer to its goal of rebalancing the oil market

The Organization of Petroleum Exporting Countries (OPEC) is moving closer to its goal of rebalancing the oil market, as the surplus of reserves are shrinking, commented the Group Secretary General, Mohammed Barkindo. The surplus of reserves, including crude oil and petroleum products, has shrunk to 130 million barrels over the five-year average. Last month, the

Oil and gas projects

World Bank stops financing of oil and gas projects after 2019

The World Bank will stop financing oil and gas exploration and extraction projects after 2019, with the exception of some projects in the poorest countries in exceptional circumstances. This was announced today by the financial institution in a communique in connection with today’s climate forum in Paris. As a global multilateral development aid institution, the

US dollar

US dollar depreciated after Senator’s vote in Alabama

The US dollar depreciated after voters in the highly conservative state of Alabama, the Republican party’s fortress, struck a heavy political strike against President Donald Trump. A 63-year-old Democrat and former Prosecutor Doug Jones has been elected as a seat in the US Senate’s partial elections. This is the first victory of the Democrats in

Ewald Nowotny

The European Union needs to think about regulating the Bitcoin

The European Union (EU) needs to think about regulating the Bitcoin, according to the member of the Governing Council of the European Central Bank (ECB), Ewald Nowotny. According to him, the crypto-currency poses risk for money laundering and financing terrorism. The Bitcoin rose from 1,000 USD to 16,000 USD since the beginning of the year,

EU-Africa trade

The deficit in trade between the EU and Africa changed to surplus

Africa is the fourth most important trading partner of the European Union (EU) after the United States, China and Switzerland, accounting for 7.5% of trade in goods outside the Community in 2016. Before 2006, 8.4% of EU trade was targeted at Africa, which was then the third-largest trading partner. However, for the 10-year period, Africa’s

Chinese exports growth

Chinese exports growth reached 8-month high

Growth in Chinese exports and imports is unexpectedly accelerating in November 2017, which is a encouraging signal from the world’s second-largest economy. With the recovery of global demand, the Chinese commodities are becoming attractive and are being imported at a fast pace this year. This in turn allows the Beijing authorities to tighten conditions and

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