Markets & Industries
IATA: Global air cargo transportation in August grows for the first time in 19 months - 10/04/2023
The International Aviation Transport Association (IATA) reports that global demand for aviation freight transportation climbed in August for the first time since February 2022. When compared to August of last year, the indicator in tonne-kilometers climbed by 1.5%. "The first year-over-year growth in 19 months is unquestionably welcome news," said IATA Director General Willie Walsh. "However,...
SWIFT notes record growth of international settlements in US dollar - 09/28/2023
According to information from the worldwide interbank system SWIFT, the percentage of US dollar used in international settlements grew to 48.03% in August 2023 from 46.5% in July. This is the highest percentage in the five years that statistics have been kept. The percentage of the euro decreased from 24.42% in July to 23.2% in August. For the period that statistics for the global system were...
Large industrial enterprises in China lose 11.7% of profit in January-August - 09/28/2023
According to the State Statistics Office (SSO), the overall profits of China's major industrial firms dropped 11.7% from January to August 2023 to 4.656 trillion yuan ($637 billion). The SSO defines large businesses as those with yearly revenues of greater exceeding 20 million yuan. 11 out of the 41 industries, including oil refineries, coal, chemical, and metallurgy businesses, saw declines in...
UBS warns of risk of bubble in Zurich and Tokyo real estate markets - 09/27/2023
In its annual industry report, the Swiss bank UBS Group AG expressed concern about the possibility of a "bubble" in the Zurich and Tokyo real estate markets. The value of residential real estate has decreased over the previous two years, both internationally and in some large cities in particular, as a result of weaker demand brought on by inflation and rising interest rates. According to the...
EU: Investigation into electric cars may affect Western companies - 09/27/2023
According to Valdis Dombrovskis, Executive Vice-President of the European Commission, the investigations are not just focused on Chinese brands. Tesla and other Western companies who import electric vehicles from China may be impacted by Brussels' investigation into electric vehicle subsidies, said Valdis Dombrovskis, EC Executive Vice-President, according to the Financial Times. In response to...
Goldman expects $40bn inflows into India bonds after inclusion in JPMorgan indices - 09/25/2023
According to experts at Goldman Sachs, the inclusion of Indian government bonds in the important developing market government debt indices by JPMorgan Chase & Co. will result in a $ 40 billion increase in investor capital. Passive inflow will be around $30 billion and active inflow will be around $10 billion over the next 18 months. Indian government bonds are appealing because they offer...
ADB worsens GDP growth forecast for developing Asia in 2023 to 4.7% - 09/20/2023
The Asian Development Bank (ADB) has downgraded its prediction for 2023 economic growth in rising Asia-Pacific nations from 4.8% to 4.7%. In a statement, the ADB stated that its forecast for GDP growth in the next year remained at 4.8%. In these states, consumer prices are anticipated to rise by 3.6% this year compared to the prior prediction of 4.2%, mainly caused by China's low inflation rate...
Venture capital investments in China lose over 30% - 09/19/2023
In the first half of this year, venture capital investment firms in China closed 3072 agreements worth $26.7 billion, according to research firm PitchBook, which was quoted by CNBC. This is a reduction of 31.4% from the same time previous year. Analysts predict that if these trends persist until the end of the year, venture capital investment in China might reach a record low not seen since 2016....
Societe Generale raises its year-end forecast for S&P 500 - 09/18/2023
The S&P 500 will be the "last one left standing" when the U.S. economy enters a recession in the middle of 2024, according to analysts. In light of sustained short-term optimism, Societe Generale analysts increased their forecast for the value of the S&P 500 at the end of the year from the previously anticipated 4,300 points to 4,750 points, MarketWatch reports. According to experts, market...
US mortgage demand at 27-year low due to high rates - 09/18/2023
According to MarketWatch, which cites data from the government-owned mortgage firm Freddie Mac, mortgage demand in the United States has reached a 27-year low amid ongoing rises in loan rates. Last week, the average annual interest rate for 30-year loans increased to 7.18% from 7.12% the previous week. In the prior year, it was 6.02%. 15-year loans currently have an average AIR of 6.51%...
