Iran will sell its oil only accepting Euros as payment, thus cutting out the US dollar; the announcement was made by the Oil Minister Bijan Namdar Zanganeh, the Iranian all-news network Irinn.
The choice of a country member of OPEC, the separation from the American currency, it would be the first attempt to do so after several replacement hypothesis; Iran exports 2.3 million barrels per day since part of the Western sanctions were removed.
Once again the Chinese A-Shares, the shares listed on the Shanghai and Shenzhen Stock exchanges in renminbi, the MSCI Emerging Markets. The index provider MSCI has again postponed the inclusion of local Chinese shares in its benchmark on global emerging stressing that the Asian giant has to do more to make its markets accessible to foreign investors.
MSCI returns so for the third consecutive year the inclusion of A Shares and this year analysts gave a probability of greater inclusion to 50 percent, with Goldman Sachs who recently said that the odds were well 70 per cent believing that latest moves of the China Securities Regulatory Commission had dissolved concerns about the "beneficial ownership" of the shares held.
"The problem is that the fake products today, have better quality and are cheaper than those who have the mark" Jack Ma, Alibaba guru said yesterday.
China’s largest portal of e-commerce has been repeatedly accused of being indifferent to the offering for sale of products that mimic the original: and do nothing to halt the trade.
However the words Alibaba boss left aftermath. In fact the official disapproval of the Director of the Centre for Research on e-commerce Hangzhou Cao She promptly arrived. "For a few specific cases it may be true, but it is wrong to generalize the phenomenon" also "is inappropriate for someone of Jack’s caliber But to say things like that."
The drop in oil prices is a slowdown in global economic signal. This was stated by the European Central Bank (ECB) in anticipation of the Economic Bulletin, explaining that "while in 2014 most of the drop in oil prices could be explained by the significant increase in the supply of crude oil, the lowest price of the most recently is the reflection of the decline in global demand ".
The ECB warns that "even if the low price of oil may support domestic demand due to rising real incomes in the importing countries, this may not necessarily offset the wider effects of the weakening of global demand."
Oman has raised funds on international markets to stem the financial crisis caused by the collapse in oil prices. Thus, the government of the Arab country has placed 2.5 billion usd bonds, becoming the last country of the Gulf, in order of time, to rely on debt to support its budget market.
The sale is the first Omani issue on international markets for almost two decades. The government placed five-year notes at a coupon rate of 3.625%, and a 10-year at 4.75%. The yields of both bonds were lower than the initial guidance, reflecting a strong demand from local and international buyers. The total demand received from the Government should have been around 7 billion USD, reported the source.
Inflation slows sharply in China, registering the first failure in the last seven months, confirming that the deflation risk is also increased in the major Asian economy. The consumer price index increased by 2% trend in May, showing a sharp slowdown compared to the 2.3% recorded in April.
Inflation is also revealed below the 2.2% consensus and remains a far cry from the growth rates that characterized the Chinese economy a few years ago, when economic growth was closer to that of a developing country .
Saudi Arabia has announced to European customers a discount on crude oil by strengthening the signal of growing competition between the two producers of the OPEC cartel, Saudi Arabia and Iran.
The price cut comes after the new bankruptcy during the meeting in Vienna despite the efforts of the Arab country to converge towards a membership freeze of the production ceiling. The Vienna Summit would have to approve a bid rationing of the cartel, but are still conflicting views. In particular, Iran remains opposed, and has recently restored its production, after the long stall caused by contention on nuclear power.
Switzerland and India could resume discussions on a free trade agreement at the end of the week. Swiss President Johann Schneider-Ammmann has discussed with the Indian Prime Minister Narendra Modi in Geneva today.
"We have established a very good basis" of discussion for the next days and the next few months, Schneider-Ammann said in a meeting with Nerandra Ways and twenty representatives of the Swiss economy. Previously the Swiss minister of the economy had entertained for over an hour with the head of the Indian government. The talks were energy and financial issues.
