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Category: Global Economy
US President Donald Trump said Washington intends to completely cut trade relations with Spain after Madrid refused to allow its bases to be used for strikes against Iran and did not agree to increase military spending to 5% of GDP.
Rapidly growing in recent years, real estate markets in the Middle East have come under pressure from the military conflict. Although the destruction in the Gulf countries is minimal, the “echo of war” is already affecting the business activity of investors, according to Logos Press.
E-commerce giant Amazon has closed its fulfillment center in Abu Dhabi, suspended deliveries across the region and instructed its employees in Saudi Arabia and Jordan to stay home.
China’s official business activity index (PMI) for the manufacturing sector remained below the 50 mark for the second consecutive month, indicating a continued contraction in output amid weak domestic demand and low investment.
The Cabinet of Ministers of Ukraine is preparing a draft decree on introducing a licensing regime for imports of grapes, wine and alcohol from Moldova. This decision protects Ukraine’s economic interests and is a response to the Moldovan side’s restriction of exports of Ukrainian poultry meat, by-products and products containing poultry meat.
In the short term, the growth of exchange quotations for wheat will continue. Grain prices are always tightly linked to oil prices and the US dollar exchange rate. Attacks on Iran have already been converted by rising oil prices and strengthening of the dollar. In this nexus, a rise in the prices of fast traded agri-food commodities is inevitable.
Oil futures rose sharply by more than 8% in early trading on Monday, reaching a multi-month high. In the first trading after the attacks on Iran, Brent crude, the international benchmark, rose 13% to reach $82.37 a barrel. However, it later corrected slightly and rose another 7% in London.
Financial markets in the UAE have temporarily suspended operations amid a sharp aggravation of the situation in the region. The decision was taken to protect investors and stabilize the financial system.
After new military strikes by the U.S. and Israel on the territory of Iran, the U.S. dollar will receive short-term support. This was stated by analysts of major banks, reports Logos Press.
The global energy sector is bracing for the most significant disruption in four years. As the conflict in Iran escalates, the Strait of Hormuz, the world’s most important transportation artery for liquefied natural gas (LNG), has come to a near standstill. Iran has characterized the waterway as “virtually closed,” effectively blocking 20 percent of the world’s LNG supply.
Operating in China for a year and a half, Lovere’s equipment demonstrates how technology monetizes waste streams, helping to move from a passive approach to recycling to the active participation of people in the processes of the circular economy.
The National Authority of Constanta Seaports plans to cover the acquisition of Danube Logistics, operator of the Giurgiulesti International Free Port (Moldova), by raising a total of 281.6 million Romanian lei ($65.41 million) from shareholders, Logos Press reported.
