Turkey’s Auto Distributors Association said sales of passenger cars and light commercial vehicles in the country rose 92.8% year on year in March to 96,428 units. The association added that from January to March, sales increased 59.7% year on year. Errol Shaheen, director at EBS auto marketing consultancy, said the …
Read More »Italy Posted a Deficit of 5.2% of GDP in Q4
The Italian National Institute of Statistics said that Italy’s budget balance has shifted to recording a deficit of 5.2% of GDP in the Q4 of last year, compared to a surplus of 1.9% in the same period of 2019. The institute stated that over the whole year, the deficit recorded …
Read More »Russian Ruble Rises 0.3% Against US Dollar After OPEC+ Decision
The Russian ruble rose to 76 against the dollar in tepid trading on Friday, recovering from its lowest level in a week reached the previous day, after the OPEC+ group, which includes the world’s major oil producers, agreed to ease production cuts. The ruble rose 0.3% against the dollar to …
Read More »Bloomberg – Russian Oil Production Rises in March
Russia’s output of crude and condensate rose to 43.34 million tons in March, thanks to the more generous OPEC and its allies (OPEC+) quota, Bloomberg reports, citing preliminary data from the Energy Ministry’s CDU-TEK unit.
Read More »Pfizer&BionTech: Our Vaccine is 91% Effective And Provides Protection Against The South African Strain
Pfizer and BionTech said their COVID-19 vaccine is 91% effective in preventing the disease, according to new trial data that included participants who were vaccinated up to six months ago. The vaccine was 100% effective in preventing the disease among the participants in the trial in South Africa, where a …
Read More »The Rise in The Turkish Lira After The Central Bank Pledged to Tighten Monetary Policy
The Turkish lira rose more than 1% against the dollar on Friday, supported by a drop in US bond yields, a day after the new central bank governor pledged that tight monetary policy would remain as it was. The pound rose to 7.9890 against the dollar, from 8.1 at the …
Read More »Japan’s Nikkei Hits a Two-Week High on Hopes of a Recovery in Corporate Earnings
Japanese shares closed higher on Friday, while the Nikkei index reached a two-week high, on hopes of recovering corporate earnings and gains in semiconductor stocks as companies appear to be ramping up production to address a global chip shortage. The Nikkei rose 1.58% to close at 29,854 points. The broader …
Read More »Russia’s Oil Production Rose in March, Following a drop in February
Russia’s production of oil and gas condensate rose to 10.25 million barrels per day in March from 10.1 million barrels per day in February, according to Reuters calculations based on a report by the Interfax news agency based on data from the Energy Ministry on Friday. The recovery of Russian …
Read More »Oil Prices jump by 3% Despite OPEC+ Decision to Gradually Increase Production
Oil prices jumped more than 3% Thursday after OPEC+ reached an agreement to gradually ease production restrictions from May. Brent crude rose $ 1.94, or 3.1 percent, to $ 64.68 a barrel. U.S. crude rose $ 2.10, or 3.6 percent, to $ 61.26 a barrel. OPEC +, which includes the …
Read More »ISM US Manufacturing PMI Jumps in March
The business activity in the US manufacturing sector grew at its strongest pace since 1983 with the ISM Manufacturing PMI rising to 64.7 in March from 60.8. This reading came in better than the market expectation of 61.3.
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