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As Nigerians face growing concerns over escalating petrol prices and ongoing fuel scarcity, Ejes Gist News provides the latest updates, including reactions from citizens, projections, and government responses. Petrol Prices Could Reach ₦1,200/Litre, Naira May Depreciate to ₦1,550/$ – Economist Bismarck Rewane In a startling projection, the Chief Executive Officer of Financial Derivatives Company Limited, Mr. Bismarck Rewane, has warned that petrol prices in Nigeria could soar to ₦1,200 per litre. This forecast comes amidst fears of further economic instability. During the Lagos Business School’s November session, titled Democracy on Trial! Trump – Going Back to the Future, Rewane shared his economic outlook for the country. He noted that the Naira could depreciate further, potentially trading at ₦1,550 per US dollar by January 2025. Rewane's predictions are based on an anticipated decline in global oil prices, with Brent crude potentially trading at $70 per barrel by December. He argued that the Naira's current value does not align with economic fundamentals and could experience a 30% adjustment within the next year. [caption id="attachment_303742" align="alignnone" width="768"] CNG: Transport Fare Reduction By 40% Reality Amid Petrol Price Hike – Nigerian Govt[/caption] Dangote Refinery Begins Fuel Exports Amid Domestic Price Hike Despite rising petrol prices in Nigeria, Dangote Refinery is set to commence fuel exports to several African countries, including South Africa, Angola, and Namibia. The 650,000-barrel-per-day refinery, located in Lekki, is reportedly in advanced discussions for supply agreements. Sources indicate that other nations, such as Niger Republic, Chad, Burkina Faso, and the Central African Republic, are also exploring fuel import deals with the refinery. Ghana, which currently spends approximately $400 million monthly on fuel imports from Europe, has expressed interest in purchasing refined products from Dangote. Mustapha Abdul-Hamid, Chairman of Ghana’s National Petroleum Authority, believes this partnership could reduce Ghana's dependence on European imports and stabilize local fuel markets. Senator Musa Praises Tinubu's Subsidy Removal Policy Senator Sani Musa of Niger East Senatorial District has commended President Bola Tinubu's decision to eliminate the fuel subsidy, describing it as the most beneficial policy for Nigeria in recent times. Speaking in an interview with Channels TV, Musa argued that the removal of fuel subsidies, announced by President Tinubu on May 29, 2023, was a necessary move. The policy led to a steep increase in petrol prices and inflation, causing a ripple effect on the cost of goods and services nationwide. Musa defended the decision, stating, “The President acted in the best interest of the nation. We must ensure that the policy's implementation does not negatively impact Nigerians.” With economic forecasts suggesting further depreciation of the Naira and a likely increase in petrol prices, many Nigerians are bracing for tougher times ahead. As discussions continue about potential fuel supply agreements with Dangote Refinery and the government's stance on subsidy removal, citizens await concrete measures to address inflation and fuel scarcity challenges.
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India's Thriving Cashew Export Industry: Opportunities and Top Exporters
India has emerged as one of the world’s leading producers and exporters of cashews and cashew-related products, thanks to its favorable climate and skilled workforce. With more than 15% of global cashew exports, India holds the top spot as the world's largest exporter. The cashew export industry in India is a lucrative business venture for entrepreneurs eager to enter the international trade market.
Is the Cashew Export Business Profitable?
Indeed, cashew export from India are highly profitable. However, the profit margin varies depending on several factors. On average, the revenue generated from 1 kg of value-added cashew goods is substantial, making it a promising venture for traders.
According to data, India, the US, and Germany are the top three cashew-importing countries. Cashew nuts are consumed globally, either as sweet or salty snacks or as ingredients in various culinary dishes. The global cashew market size is expected to reach USD 7.82 billion by 2024 and USD 9.20 billion by 2029, with a compound annual growth rate (CAGR) of 3.31% during the forecast period, driven by the rising popularity of healthy food options and increasing health consciousness.
Top 10 Cashew-Producing Countries
India is one of the top cashew producers globally. Here’s a breakdown of the leading cashew-producing countries:
Ivory Coast - 970,000 tonnes
India - 743,000 tonnes
Vietnam - 283,328 tonnes
Indonesia - 170,000 tonnes
Benin - 120,000 tonnes
Burkina Faso - 115,000 tonnes
Guinea-Bissau - 90,000 tonnes
Tanzania - 80,000 tonnes
Mozambique - 70,000 tonnes
Philippines - 65,000 tonnes
India produces over 0.8 million metric tons of cashew nuts annually, with Maharashtra, Kerala, Karnataka, Tamil Nadu, Andhra Pradesh, Goa, Orissa, West Bengal, and parts of the Northeast being the major cashew-growing states.
Cashew Export Data from India: 2023-24
India's dominance in the global cashew market is evident from its export statistics. According to cashew export data 2023, India exported 65,808.42 metric tons of cashews, valued at approximately USD 356 million. However, there was a slight decline in export value from USD 290.95 million in 2022 to USD 282.54 million in 2023.
The top export destinations for Indian cashews include the United Arab Emirates, Japan, and the Netherlands. The UAE was the largest buyer, accounting for USD 127 million in 2022-2023, representing 34.9% of total exports. The Netherlands and Japan also featured among the top three importers of Indian cashews, each accounting for 10% of exports.
Top Cashew Nut Exporting Countries
India remains the largest exporter of cashews, with an export value of USD 356.6 million. Other major cashew-exporting countries include:
Netherlands - USD 253.3 million
Germany - USD 213.3 million
Nigeria - USD 152.6 million
Brazil - USD 68.6 million
Ghana - USD 31.0 million
Turkey - USD 24.6 million
Benin - USD 21.8 million
Mozambique - USD 20.4 million
Tanzania - USD 18.6 million
Top Cashew Exporters in India
India boasts some of the largest cashew exporters in the world. Here are the top 10 cashew exporters in India:
Griva Enterprise - Gujarat
Yesraj Enterprises - Maharashtra
Sahyadri Cashew Processors - Karnataka
Virendra Haribhai Pansara - Gujarat
Puduvai Exports - Puducherry
Andalan Shakti Private Limited - Gujarat
Saa Vishnu Bakers Private Limited - Jharkhand
Amirtham Enterprises Private Limited - Tamil Nadu
Nayan Enterprises - Rajasthan
M. Madhavaraya Prabhu - Karnataka
These companies represent the best in India's cashew export industry, ensuring that the country maintains its strong position in the global market.
How to Start a Cashew Export Business from India
To establish a successful cashew export business in India, you need several documents, including export documentation, an export license, a certificate of origin, and an FSSAI food license. Here are the essential steps to get started:
Business Registration: Register your business with the appropriate legal structure and ensure compliance with India’s tax regulations.
Market Research: Conduct thorough market research to understand the nature and qualities of the product. Understanding the market is crucial for success in the cashew export business.
Find Buyers or Distributors: Identifying reliable buyers or distributors is critical. Platforms like Seair Exim Solutions offer valuable insights and data on cashew export trends, helping you connect with potential trading partners.
Conclusion
The cashew export industry in India offers numerous opportunities for traders, farmers, and entrepreneurs. The industry is well-positioned for continued growth with the right approach, focusing on quality, and leveraging government support. Platforms like Seair Exim Solutions provide up-to-date trade data, making it easier to navigate the market and succeed in the global cashew trade.
#Cashew export from India#cashew nut export#cashew export data#cashew exporters in India#cashew exporters
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Medical Drone Market Key Drivers, Industry Size, Regional Investments and Top Segments Data Forecast
A medical drone is an unmanned aerial vehicle (UAV) that is specifically designed to transport medical supplies, equipment, and even personnel to remote or hard-to-reach areas. Medical drones have the potential to revolutionize healthcare delivery by overcoming traditional transportation barriers such as traffic congestion, rough terrain, or lack of infrastructure.
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Medical drones can be equipped with a variety of medical payloads, including defibrillators, medications, blood products, and diagnostic equipment. They can also be used for emergency response, such as delivering medical supplies to disaster zones or transporting organs for transplant.
One of the key advantages of medical drones is their speed and agility. They can reach remote locations much faster than traditional methods of transportation, which can mean the difference between life and death in emergency situations. They also have the potential to reduce healthcare costs by increasing efficiency and reducing the need for traditional transportation methods.
The global medical drone market size is expected to gain momentum by reaching USD 1,410.9 million by 2028 from USD 254.7 million in 2021 while exhibiting an impressive CAGR of 27.70% between 2021 to 2028. In its report titled, “Medical Drone Market, 2021-2028,” Fortune Business Insights™ mentions that the market stood at USD 194.7 million in 2020.
The technological advancement and ongoing competition between major players to deliver the best product are expected to drive the market in upcoming years. Thus, major players such as Volocopter, Zipline, Volansi, Flirtey, Matternet are focused on developing quality drones to ensure their global market position and high demand for medical drones amid the ongoing COVID-19 pandemic
COVID-19 Impact
Amid the COVID-19 pandemic, demand for drones increased. Many deliveries for medical purposes and laboratory samples were done using drone technology. According to a report by various resources, around eighteen countries worldwide were dependent on unmanned technology for logistical purposes. For instance, countries in Sub-Saharan Africa, such as Ghana, Rwanda, and Malawi, are some of the countries which were dependent on drone systems for the delivery of medical supplies, pathological and blood samples, and commodities since 2016 and in pandemic times, they are using it in remote places.
Therefore, advantages that this technology facilitates in the COVID-19 context are on-demand just-in-time delivery, minimal physical contact, last-mile delivery to remote locations with an extended logistical network, and low viral or pathological transmission risk. Thus various such applications in this current situation are expected to fuel the market growth.
What does the Report Provide?
The market report for medical drone provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to contribute to the growth of this market.
List of Key Players Profiled in Medical Drone Industry Report
Zipline Inc. (San Francisco, United States)
Volocopter GmbH (Bruchsal, Germany)
Volansi Inc. (San Francisco,United States)
Matternet Inc. (Mountain View, United States)
Manna Drone Delivery Inc. (Dublin, Ireland)
Flytrex Aviation Ltd. (Tel Aviv, Israel)
Flirtey Holdings Inc. (Reno, United States)
Vayu Inc. (Ypsilanti, United States)
Skyports Ltd. (Billericay, United Kingdom)
Ebre Drone LLC (Tarragona, Spain)
Swoop Aero Pty. Ltd. (Docklands, Australia)
Skyfarer Ltd. (Coventry, United Kingdom)
Driving Factor
High Demand for Drones in Healthcare Applications to Propel Market Growth
The increasing demand for monitoring and surveillance of public areas and the advent of new logistical alternatives than the conventional supply chain modes is propelling governments worldwide to invest in medical drone technology. Moreover, in this pandemic situation, human contact has been suspected to be a vehicle of viral transmission. Thus drone technology is a clear winner in this situation. Thus, there has emerged an urgent need for contactless and efficient technology. For instance, in October 2019, the UPS Flight Forward Inc. has received U.S. government approval with the Federal Aviation Administration's and standard certification to exercise drone airline operations. In response, the company launched its first drone delivery flight at WakeMed Hospital in Raleigh, NC, by using a quadcopter Matternet M2. These factors are driving the medical drone market growth.
Market Segmentation:
By type, the market is segmented into fixed-wing, rotary-wing, and hybrid. Technology is divided into fully autonomous, semi-autonomous, and remotely operated. By the package size, it is trifurcated into <2 KG, 2-5 KG, and 5 KG <. On the basis of its service, it is divided into hospital-based, independent, and government. Based on its logistical application, it is divided into emergency blood logistics, medicinal drugs logistics, medical equipment logistics, surgical equipment logistics, vaccine logistics, emergency organ logistics, and emergency ambulatory support. By End-user, it is segmented into emergency medical services, blood banks, hospitals, and others.
Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, and the Middle East & Africa.
Regional Insights
North America to Dominate Backed by Increasing Number of Registered Drones
North America is expected to remain at the forefront and hold the highest position in this market during the forecast period owing to a large number of drones, i.e., around 872,694 drones that are registered for use under Federal Aviation Administration (FAA,) in 2021. The region’s market stood at USD 79.88 million in 2020.
Asia Pacific is expected to showcase significant medical drone market share during the forecast period owing to the high adoption rate and investment by OEMs and governments. Furthermore, the presence of the OEMs in the region, such as DJI, and global players such as Zipline.
The Middle East is anticipated to be the fastest-growing region during the forecast period. The regional market growth results from high investment by regional governments such as Ghana, Rwanda, Nigeria, and others for various medical drone applications.
Competitive Landscape
Key Players to Focus on Partnerships to Strengthen Their Market Positions
This market is consolidated by major companies striving to maintain their position by focusing on new launches, partnerships, and agreements. For instance, in February 2021, the Government of Kaduna State, in Nigeria, signed a medical delivery agreement with Zipline for airdropped COVID-19 Vaccine shipment as it would have reduced the dependency of the state to invest in the cold chain storage. Furthermore, this agreement is expected to pave the way for enhanced services such as on-demand blood products, medications, and other vaccines.
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Betsloaded - Best Soccer and Football Prediction and Preview
At betsloaded.com, we provide precise Soccer predictions that you can count on to win. Out of all the best soccer prediction sites available in Kenya, South Africa, Poland, Norway, England, USA, Ghana, Uganda, Tanzania, Nigeria, and worldwide, betsloaded.com stands out as the best platform to place your hopes for winning.
At Betsloaded, we have a group of soccer handicappers specializing in various leagues, including the English Premier League, La Liga, Bundesliga, MLS, and the two major European club championships, which are the Europa League and Champions League. With an abundance of soccer games being covered every week at Betsloaded, We make sure that all the Soccer bets are accompanied by detailed analysis, crucial details, and a confidence rating. The confidence rating indicates that it ranges from 1 to 3 stars regarding the trust of our handicappers. Three stars are the most assured, and 1 confidence for the sprinkle games.
Betsloaded - Most Accurate Football Prediction Website
Betsloaded one of the most popular soccer and football prediction sites across the World Wide Web, provides the most up-to-date and well-studied football tips, winning goal predictions, and soccer team predictions to its members.
Betsloaded isn't a gambling website. However, it will assist you in keeping your winning streak alive by providing accurate and up-to-date soccer forecasts. By current, we mean you'll get Best Soccer Prediction for Today straight off the pitch.
As the largest online sports entertainment platform, We live and breathe our passion for Football. Our passion for the game can be seen through our vast array of content and services we continuously provide our loyal customers, such as blogs and information, predictions, betting tips for today games, fixtures and a myriad of sporting programs, and our live streaming service, In-Play Live, which offers our subscribers daily sports betting news.
How to Bet on Soccer
The popularity of soccer betting is rapidly growing, and there are more markets available than ever before in the most prestigious competitions and leagues across the globe. It means that playing soccer is simpler than ever before and is just like betting on other sports like the NFL, NBA, and MLB. Go to your preferred online sportsbook and then click to open the tab for soccer which is sorted according to forthcoming events and the league. Each game will highlight all of the betting options available for that specific game. The traditional markets like Money Line, Over/Under Goals, Spreads and Totals are available, along with a variety of props for players, such as goalscorer markets players' cards, and props for teams, such as teams goals and team cards. There are various options for betting on soccer. Our experts are available to assist you in all the top soccer action around the globe with professional advice and information on betting on soccer.
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Who Else Is Lying to Us About Cape Verde Visa?
https://pl.ivisa.com/cape-verde-visa
The outcome of the application process are visible almost straight away. They can also give you with other consular services like registering a birth abroad, supplying you with a letter of affirmation also referred to as an ability to marry certificate. Additional information regarding when to carry out fetal ultrasound scanning, and, if needed, referral to the regional fetal medicine service is available.
Crime prices are comparatively low. Even though you can already incorporate your business during the process, for instance, its operation is hardly worthwhile as a result of high import and export taxes. The category of people who will come across such services extremely useful is families with children who wish to visit Canada together.
Though it could be the center of winter in Europe, the resort will nonetheless provide the chance to bask in sunlight and go for swims in the ocean. An island tour is vital if you want to see more of the island. Quad biking is easily the most exhilarating approach to learn more about the island.
If you decide to drive a vehicle in Cape Verde, learn the neighborhood traffic laws and have the correct paperwork. You can select from 118 Sal accommodation choices, and you're going to discover modern conveniences and comfortable guestrooms. Don't expect quick service as if you may experience at home.
Facts, Fiction and Cape Verde Visa Sal Island has some gorgeous beaches. There are lots of beaches in Cape Verde. Cape Verde is a favorite destination especially if you're searching for a relaxing, sun-filled package holiday.
What Everybody Dislikes About Cape Verde Visa and Why Travelers who apply on their very own face an extremely substantial rate of rejection by means of a visa service is vital! So you are going to need a complete day to receive your visa. It's advisable to apply ahead of time.
An entry'' indicates the range of times you're allowed to join the country with the visa. If you might go to the country later on, obtaining a multiple entry visa now may help save you money in the very long run. The specified deposit will be needed at the right time of booking.
Well, it's now much simpler than you may think, because there are many countries without visa requirements that it is possible to visit as a Ghanaian citizen at no cost and at any moment. UAE had provided many visa policies for tourists to create the visa process very straightforward and easy. It's obtaining a visa to the vast majority of countries.
It's important to be certain that you have adequate medical travel insurance in place prior to your trip, and that means you're covered in case anything unfortunate happens. The bite isn't particularly dangerous to humans whom are extremely healthy. While hiking, you may also pass their huge coffee plantation that I can say the very best coffee I've tasted, ever!
| Using Cape Verde Visa If you're searching for hotels with chic interiors and a great deal more, you've come to the proper location. Be smart once you are traveling on foot. Don't expect quick service as if you may experience at home.
The Downside Risk of Cape Verde Visa For a live forecast, you're advised to go to this page. Ferries and little aircraft are the ideal approach to island hop. As I said previously, nearly all of the folks of Fogo Island lives at the nation side so after midday the second town will likewise be left in peace.
Now is an excellent time to have a worldwide passport if you don't have one yet, as now you may see the list of visa-free countries for Ghana passport holders. Passports can take between 4-8 weeks to process so that it is better to begin the procedure once possible. Brazil visas have to be obtained well ahead of time of departure from a Brazilian Consulate.
Among the most fascinating West African country without needing to submit an application for a visa is Ghana. The reason this authorization is known as electronic is how it's electronically related to the passports of foreign nationals who wish to fly to Canada. If a travel isn't eligible for ESTA, then they will not be qualified for travel below the visa Waiver Program and should put in an application for a nonimmigrant visa at a U.S. Embassy or evenConsulate.
It is crucial to think about the variety of entries for a couple explanations. Even though you can already incorporate your business during the process, for instance, its operation is hardly worthwhile as a result of high import and export taxes. The category of people who will come across such services extremely useful is families with children who wish to visit Canada together.
Understanding Cape Verde Visa A few instances of sexual transmission of ZIKV also have been reported. Before going there make sure to have Vietnam visa approval letter already to steer clear of complicated procedure at the workplace. Before going there, make certain you have already Vietnam visa approval letter so that you do not waste your time with a lot of procedures.
The outcome of the application process are visible almost straight away. As a way to stop by Russia, you have to have an official tourist or company invitation before you complete your application. Payment of any fines levied is the duty of the individual guest.
Things You Won't Like About Cape Verde Visa and Things You Will It's important to be certain that you have adequate medical travel insurance in place prior to your trip, and that means you're covered in case anything unfortunate happens. The bite isn't particularly dangerous to humans whom are extremely healthy. While hiking, you may also pass their huge coffee plantation that I can say the very best coffee I've tasted, ever!
What Everybody Dislikes About Cape Verde Visa and Why However, you can receive their visas online. Guinea Bissau is another country that you are able to visit without needing to apply to get a visa but as expected you are going to need to clearly show your return ticket indicating you'll be returning and sufficient proof of funds showing that you could foot your bill in the plan of your journey. Visa credit cards are the sole process of charge card payment accepted.
Please be aware, that only the quick stay visa is going to be processed by our system. You ought to make sure that you have at least 6 months validity on your passport, and that is going to want to cover the duration of your stay. Unfortunately, you'll have to buy a visa on arrival.
Well, it's now much simpler than you may think, because there are many countries without visa requirements that it is possible to visit as a Ghanaian citizen at no cost and at any moment. UAE had provided many visa policies for tourists to create the visa process very straightforward and easy. It's obtaining a visa to the vast majority of countries.
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Medical Drone Market USD 1,410.9 billion by 2027 | At CAGR of 27.70% Size, Key Technology And Industry Trends Till
The global medical drone market size is expected to gain momentum by reaching USD 1,410.9 million by 2028 from USD 254.7 million in 2021 while exhibiting an impressive CAGR of 27.70% between 2021 to 2028. In its report titled, “Medical Drone Market, 2021-2028,” Fortune Business Insights™ mentions that the market stood at USD 194.7 million in 2020.
The technological advancement and ongoing competition between major players to deliver the best product are expected to drive the market in upcoming years. Thus, major players such as Volocopter, Zipline, Volansi, Flirtey, Matternet are focused on developing quality drones to ensure their global market position and high demand for medical drones amid the ongoing COVID-19 pandemic.
Information Source:
COVID-19 Impact
Amid the COVID-19 pandemic, demand for drones increased. Many deliveries for medical purposes and laboratory samples were done using drone technology. According to a report by various resources, around eighteen countries worldwide were dependent on unmanned technology for logistical purposes. For instance, countries in Sub-Saharan Africa, such as Ghana, Rwanda, and Malawi, are some of the countries which were dependent on drone systems for the delivery of medical supplies, pathological and blood samples, and commodities since 2016 and in pandemic times, they are using it in remote places.
Therefore, advantages that this technology facilitates in the COVID-19 context are on-demand just-in-time delivery, minimal physical contact, last-mile delivery to remote locations with an extended logistical network, and low viral or pathological transmission risk. Thus various such applications in this current situation are expected to fuel the market growth.
What does the Report Provide?
The market report for medical drone provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to contribute to the growth of this market.
List of Key Players Profiled in Medical Drone Industry Report
Zipline Inc. (San Francisco, United States)
Volocopter GmbH (Bruchsal, Germany)
Volansi Inc. (San Francisco,United States)
Matternet Inc. (Mountain View, United States)
Manna Drone Delivery Inc. (Dublin, Ireland)
Flytrex Aviation Ltd. (Tel Aviv, Israel)
Flirtey Holdings Inc. (Reno, United States)
Vayu Inc. (Ypsilanti, United States)
Skyports Ltd. (Billericay, United Kingdom)
Ebre Drone LLC (Tarragona, Spain)
Swoop Aero Pty. Ltd. (Docklands, Australia)
Skyfarer Ltd. (Coventry, United Kingdom)
Driving Factor
High Demand for Drones in Healthcare Applications to Propel Market Growth
The increasing demand for monitoring and surveillance of public areas and the advent of new logistical alternatives than the conventional supply chain modes is propelling governments worldwide to invest in medical drone technology. Moreover, in this pandemic situation, human contact has been suspected to be a vehicle of viral transmission. Thus drone technology is a clear winner in this situation. Thus, there has emerged an urgent need for contactless and efficient technology. For instance, in October 2019, the UPS Flight Forward Inc. has received U.S. government approval with the Federal Aviation Administration's and standard certification to exercise drone airline operations. In response, the company launched its first drone delivery flight at WakeMed Hospital in Raleigh, NC, by using a quadcopter Matternet M2. These factors are driving the medical drone market growth.
Market Segmentation:
By type, the market is segmented into fixed-wing, rotary-wing, and hybrid. Technology is divided into fully autonomous, semi-autonomous, and remotely operated. By the package size, it is trifurcated into <2 KG, 2-5 KG, and 5 KG <. On the basis of its service, it is divided into hospital-based, independent, and government. Based on its logistical application, it is divided into emergency blood logistics, medicinal drugs logistics, medical equipment logistics, surgical equipment logistics, vaccine logistics, emergency organ logistics, and emergency ambulatory support. By End-user, it is segmented into emergency medical services, blood banks, hospitals, and others.
Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, and the Middle East & Africa.
Regional Insights
North America to Dominate Backed by Increasing Number of Registered Drones
North America is expected to remain at the forefront and hold the highest position in this market during the forecast period owing to a large number of drones, i.e., around 872,694 drones that are registered for use under Federal Aviation Administration (FAA,) in 2021. The region’s market stood at USD 79.88 million in 2020.
Asia Pacific is expected to showcase significant medical drone market share during the forecast period owing to the high adoption rate and investment by OEMs and governments. Furthermore, the presence of the OEMs in the region, such as DJI, and global players such as Zipline.
The Middle East is anticipated to be the fastest-growing region during the forecast period. The regional market growth results from high investment by regional governments such as Ghana, Rwanda, Nigeria, and others for various medical drone applications.
Competitive Landscape
Key Players to Focus on Partnerships to Strengthen Their Market Positions
This market is consolidated by major companies striving to maintain their position by focusing on new launches, partnerships, and agreements. For instance, in February 2021, the Government of Kaduna State, in Nigeria, signed a medical delivery agreement with Zipline for airdropped COVID-19 Vaccine shipment as it would have reduced the dependency of the state to invest in the cold chain storage. Furthermore, this agreement is expected to pave the way for enhanced services such as on-demand blood products, medications, and other vaccines.
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Gloom Lifts From Emerging Currencies After Rate Hikes: EM Review
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Gloom Lifts From Emerging Currencies After Rate Hikes: EM Review
© Bloomberg. Pedestrians gather near a gold and currency exchange store at the Grand Bazaar in Istanbul, Turkey, on Friday, Aug. 17, 2018. Turkish President Recep Tayyip Erdogan argued citizens should buy gold, then he said sell. Add dramatic swings in the lira, and the country’s traders are now enthusiastically doing both. Photographer: Ismail Ferdous/Bloomberg
(Bloomberg) — Emerging-market assets gained last week as Russia unexpectedly raised interest rates and Turkey hiked its one-week repo rate by more than forecast.
Highlights for the week ended Sept. 14:
Turkey’s lira was the best performer among 22 emerging-market currencies tracked by Bloomberg; policy makers defied President Recep Tayyip Erdogan by jacking up rates more than expected to bolster the flagging lira, lifting rates by 625 basis points to 24 percent; the decision came just after Erdogan said the nation “should cut this high interest rate”
Russia’s ruble flipped to gains from losses on Friday after the central bank unexpectedly raised interest rates for the first time since 2014; inflation risks have been mounting with a slumping currency and threats of U.S. sanctions
President Donald Trump is said to have instructed aides to proceed with tariffs on about $200 billion of Chinese products, even as Treasury Secretary Steve Mnuchin proposed another round of trade talks with Beijing
China’s economic momentum weakened a notch in August, with a continued slowdown in investment overshadowing solid retail sales and industrial production data
The White House sent contradictory messages to North Korea, announcing it’s ready to start planning a second meeting with Kim Jong Un just hours after President Trump’s top national security adviser said nuclear talks were stalled
Asia:
The onshore and offshore both declined for a third week; more than 60 percent of U.S. businesses operating in China were hurt by the initial round of tariffs between the Chinese and U.S. governments, with 74 percent foreseeing harm from future U.S. tariffs and 68% from potential Chinese retaliatory duties, according to a survey of more than 430 American companies
S&P Global Ratings lowered its credit ratings on seven Chinese local government financing vehicles by one notch
South Korean won strengthened; the country’s jobless rate rose to 4.2 percent in August, the highest since January 2010 and up from 3.8 percent in July; it will be difficult for the country’s job situation to improve in the short term
Prime Minister Lee Nak-yon said it is time to start thinking about rate increases
Demand-side inflationary pressure remains tepid and it’s “dangerous” to take preemptive monetary measures at this stage, Bank of Korea board member Shin In-seok said
The economy is continuing to recover, led by exports and domestic consumption, the finance ministry said in its monthly green book report
President Moon Jae-in asked heads of the country’s four biggest conglomerates — Samsung (KS:), Hyundai Motor, SK, and LG — to join his visit to Pyongyang to participate in the inter-Korean summit with North Korean leader Kim Jong Un next week, Chosun Ilbo reported
India’s rupee dropped to a record low before trimming the week’s loss; the government unveiled measures to prop up the sagging currency, including steps to facilitate bond issuance by local companies and possible curbs on imports
Officials from the finance ministry have asked the Reserve Bank of India to do more to maintain adequate liquidity in the banking system, people with knowledge of the matter said
The nation’s inflation eased below 4 percent for the first time in 10 months
The Indonesian rupiah posted its first weekly gain in five; Finance Minister Sri Mulyani Indrawati said authorities want to tighten some rules on exporters and are seeking a fair share of export earnings to be retained in the country
Thailand’s SET Index of stocks rallied as King Maha Vajiralongkorn approved two laws, one for the election of members of parliament, and the other for the selection of senators, according to an announcement in the Royal Gazette
Thailand has no need to raise the key interest rate now as the nation’s inflation remains benign, Finance Minister Apisak Tantivorawong said
The government plans to borrow 1.16 trillion baht ($36 billion) in fiscal year 2019
The Malaysian ringgit rose, halting a 12-week losing streak; the trade war may benefit Malaysia over the next year or so, especially in electronics and steel industries; in the long term, U.S.-China trade conflicts would be negative for the country, Finance Minister Lim Guan Eng said
Lim said Malaysia is paring expectations for how much money it can recoup from the 1MDB sovereign wealth fund, and the country would be “very lucky” to get back just half
Recouping all funds lost through 1MDB may not be possible as the government wouldn’t be able to sell assets at the purchase price and some funds have been squandered, Anwar Ibrahim, president-elect of ruling People’s Justice Party, said
Police are investigating bond sales and transactions by institutions linked to 1MDB, according to Deputy Inspector General Noor Rashid Ibrahim
The Philippine peso weakened a fifth straight week, prompting the central bank to have reactivated a hedging program first introduced during the 1997 Asian Financial Crisis to support the peso; the program offers currency forward contracts to bank clients with foreign exchange obligations of at least $50,000
President Rodrigo Duterte agreed to nine measures to contain inflation and a corresponding executive order to implement them immediately, Economic Planning Secretary Ernesto Pernia said
First-half current-account deficit came in at $3.1 billion, compared with a $130 million shortfall a year ago
EMEA:
Turkish lira advanced a second week; President Erdogan appointed himself chairman of Turkey’s sovereign wealth fund and got rid of the entire management staff that had presided over two years of inaction
Gross domestic product rose 5.2 percent during the three months through June from a year earlier
Russia’s ruble halted a 3-week slump as policy makers said they’ll “consider the necessity of further increases” after lifting their benchmark to 7.5 percent, a level last seen in March, from 7.25 percent
Governor Elvira Nabiullina, who first broached the possibility of a rate hike earlier this month, said easing may not resume for more than a year
The two Russians accused by the U.K. of carrying out a nerve-agent attack on a former spy denied the charges in an interview with RT state television
Russia’s economy expanded faster than was earlier estimated in the second quarter
South Africa’s rand strengthened; the country’s stable ratings outlook means there’s little chance of a change in its assessment soon, Moody’s Investors Service said
Business confidence declined to the lowest level this year as industries raised concern about policy uncertainty
South Africa may collect less revenue than forecast and trim its growth prediction for the year after the economy fell into a recession, Finance Minister Nhlanhla Nene said
The Hungarian forint rose; the European Parliament adopted a recommendation to punish the country for the perceived erosion of the rule of law, a process that is still unlikely to yield concrete sanctions
Prime Minister Viktor Orban received an unprecedented EU censure as European lawmakers called for his government to face possible sanctions for eroding democratic standards
Ukraine was given a boost in its fight with Russia over a defaulted $3 billion bond after the U.K. Court of Appeal ordered a full-blown trial
Polish zloty climbed; the country’s Monetary Policy Council kept FX intervention as an option while maintaining a floating exchange rate, according to its policy guidelines for 2019 published on the parliament’s website
Saudi Arabia is said to be raising about $2 billion from the sale of Islamic bonds
The nation’s sovereign wealth fund will sign an $11 billion loan, marking its first-ever borrowing, people familiar with the matter said
Ghana’s long-term foreign currency debt rating was upgraded to B from B- by Standard & Poor’s
Latin America:
The Brazilian real was the second worst performer; right-wing presidential front-runner Jair Bolsonaro underwent more surgery Wednesday evening after being stabbed on Sept. 6; Bolsonaro’s son said he is not in shape for the first round campaigning
Luiz Inacio Lula da Silva endorsed his running mate Fernando Haddad as the Workers Party’s candidate after electoral officials barred the imprisoned former president from running in the October vote
The latest XP/Ipespe poll published Friday showed Bolsonaro leading the pack with 26% support in a 1st round scenario, rising from 23% in prior survey; the former Ceara state Governor Ciro Gomes secured 12 percent while Fernando Haddad captured 10 percent voter support
Argentina’s peso was the worst EM performer, setting a new record low on a closing basis as the IMF said it would delay a $3b disbursement to the nation until talks finish
The government is aiming to save 196 billion pesos ($4.9 billion) through spending cuts next year as it attempts to reach a fiscal balance, according to a report by La Nacion newspaper
August national consumer price index increased 3.9 percent in the month
The Mexican peso was the best performer in Latin America, mostly tracking gains across emerging-market peers; Mexico is open to moving ahead with a bilateral trade pact with the U.S. if Canada can’t reach a deal on Nafta with the Trump administration, FT reported
President-elect Andres Manuel Lopez Obrador’s chief of staff Alfonso Romo said the new government will respect oil contracts and work with companies that already have contracts to achieve success; comments are reassuring to the market, according to a client note from Citigroup (NYSE:)
Upcoming data:
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Read More https://worldwide-finance.net/news/commodities-futures-news/gloom-lifts-from-emerging-currencies-after-rate-hikes-em-review
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Gloom Lifts From Emerging Currencies After Rate Hikes: EM Review
New Post has been published on https://worldwide-finance.net/news/commodities-futures-news/gloom-lifts-from-emerging-currencies-after-rate-hikes-em-review
Gloom Lifts From Emerging Currencies After Rate Hikes: EM Review
© Bloomberg. Pedestrians gather near a gold and currency exchange store at the Grand Bazaar in Istanbul, Turkey, on Friday, Aug. 17, 2018. Turkish President Recep Tayyip Erdogan argued citizens should buy gold, then he said sell. Add dramatic swings in the lira, and the country’s traders are now enthusiastically doing both. Photographer: Ismail Ferdous/Bloomberg
(Bloomberg) — Emerging-market assets gained last week as Russia unexpectedly raised interest rates and Turkey hiked its one-week repo rate by more than forecast.
Highlights for the week ended Sept. 14:
Turkey’s lira was the best performer among 22 emerging-market currencies tracked by Bloomberg; policy makers defied President Recep Tayyip Erdogan by jacking up rates more than expected to bolster the flagging lira, lifting rates by 625 basis points to 24 percent; the decision came just after Erdogan said the nation “should cut this high interest rate”
Russia’s ruble flipped to gains from losses on Friday after the central bank unexpectedly raised interest rates for the first time since 2014; inflation risks have been mounting with a slumping currency and threats of U.S. sanctions
President Donald Trump is said to have instructed aides to proceed with tariffs on about $200 billion of Chinese products, even as Treasury Secretary Steve Mnuchin proposed another round of trade talks with Beijing
China’s economic momentum weakened a notch in August, with a continued slowdown in investment overshadowing solid retail sales and industrial production data
The White House sent contradictory messages to North Korea, announcing it’s ready to start planning a second meeting with Kim Jong Un just hours after President Trump’s top national security adviser said nuclear talks were stalled
Asia:
The onshore and offshore both declined for a third week; more than 60 percent of U.S. businesses operating in China were hurt by the initial round of tariffs between the Chinese and U.S. governments, with 74 percent foreseeing harm from future U.S. tariffs and 68% from potential Chinese retaliatory duties, according to a survey of more than 430 American companies
S&P Global Ratings lowered its credit ratings on seven Chinese local government financing vehicles by one notch
South Korean won strengthened; the country’s jobless rate rose to 4.2 percent in August, the highest since January 2010 and up from 3.8 percent in July; it will be difficult for the country’s job situation to improve in the short term
Prime Minister Lee Nak-yon said it is time to start thinking about rate increases
Demand-side inflationary pressure remains tepid and it’s “dangerous” to take preemptive monetary measures at this stage, Bank of Korea board member Shin In-seok said
The economy is continuing to recover, led by exports and domestic consumption, the finance ministry said in its monthly green book report
President Moon Jae-in asked heads of the country’s four biggest conglomerates — Samsung (KS:), Hyundai Motor, SK, and LG — to join his visit to Pyongyang to participate in the inter-Korean summit with North Korean leader Kim Jong Un next week, Chosun Ilbo reported
India’s rupee dropped to a record low before trimming the week’s loss; the government unveiled measures to prop up the sagging currency, including steps to facilitate bond issuance by local companies and possible curbs on imports
Officials from the finance ministry have asked the Reserve Bank of India to do more to maintain adequate liquidity in the banking system, people with knowledge of the matter said
The nation’s inflation eased below 4 percent for the first time in 10 months
The Indonesian rupiah posted its first weekly gain in five; Finance Minister Sri Mulyani Indrawati said authorities want to tighten some rules on exporters and are seeking a fair share of export earnings to be retained in the country
Thailand’s SET Index of stocks rallied as King Maha Vajiralongkorn approved two laws, one for the election of members of parliament, and the other for the selection of senators, according to an announcement in the Royal Gazette
Thailand has no need to raise the key interest rate now as the nation’s inflation remains benign, Finance Minister Apisak Tantivorawong said
The government plans to borrow 1.16 trillion baht ($36 billion) in fiscal year 2019
The Malaysian ringgit rose, halting a 12-week losing streak; the trade war may benefit Malaysia over the next year or so, especially in electronics and steel industries; in the long term, U.S.-China trade conflicts would be negative for the country, Finance Minister Lim Guan Eng said
Lim said Malaysia is paring expectations for how much money it can recoup from the 1MDB sovereign wealth fund, and the country would be “very lucky” to get back just half
Recouping all funds lost through 1MDB may not be possible as the government wouldn’t be able to sell assets at the purchase price and some funds have been squandered, Anwar Ibrahim, president-elect of ruling People’s Justice Party, said
Police are investigating bond sales and transactions by institutions linked to 1MDB, according to Deputy Inspector General Noor Rashid Ibrahim
The Philippine peso weakened a fifth straight week, prompting the central bank to have reactivated a hedging program first introduced during the 1997 Asian Financial Crisis to support the peso; the program offers currency forward contracts to bank clients with foreign exchange obligations of at least $50,000
President Rodrigo Duterte agreed to nine measures to contain inflation and a corresponding executive order to implement them immediately, Economic Planning Secretary Ernesto Pernia said
First-half current-account deficit came in at $3.1 billion, compared with a $130 million shortfall a year ago
EMEA:
Turkish lira advanced a second week; President Erdogan appointed himself chairman of Turkey’s sovereign wealth fund and got rid of the entire management staff that had presided over two years of inaction
Gross domestic product rose 5.2 percent during the three months through June from a year earlier
Russia’s ruble halted a 3-week slump as policy makers said they’ll “consider the necessity of further increases” after lifting their benchmark to 7.5 percent, a level last seen in March, from 7.25 percent
Governor Elvira Nabiullina, who first broached the possibility of a rate hike earlier this month, said easing may not resume for more than a year
The two Russians accused by the U.K. of carrying out a nerve-agent attack on a former spy denied the charges in an interview with RT state television
Russia’s economy expanded faster than was earlier estimated in the second quarter
South Africa’s rand strengthened; the country’s stable ratings outlook means there’s little chance of a change in its assessment soon, Moody’s Investors Service said
Business confidence declined to the lowest level this year as industries raised concern about policy uncertainty
South Africa may collect less revenue than forecast and trim its growth prediction for the year after the economy fell into a recession, Finance Minister Nhlanhla Nene said
The Hungarian forint rose; the European Parliament adopted a recommendation to punish the country for the perceived erosion of the rule of law, a process that is still unlikely to yield concrete sanctions
Prime Minister Viktor Orban received an unprecedented EU censure as European lawmakers called for his government to face possible sanctions for eroding democratic standards
Ukraine was given a boost in its fight with Russia over a defaulted $3 billion bond after the U.K. Court of Appeal ordered a full-blown trial
Polish zloty climbed; the country’s Monetary Policy Council kept FX intervention as an option while maintaining a floating exchange rate, according to its policy guidelines for 2019 published on the parliament’s website
Saudi Arabia is said to be raising about $2 billion from the sale of Islamic bonds
The nation’s sovereign wealth fund will sign an $11 billion loan, marking its first-ever borrowing, people familiar with the matter said
Ghana’s long-term foreign currency debt rating was upgraded to B from B- by Standard & Poor’s
Latin America:
The Brazilian real was the second worst performer; right-wing presidential front-runner Jair Bolsonaro underwent more surgery Wednesday evening after being stabbed on Sept. 6; Bolsonaro’s son said he is not in shape for the first round campaigning
Luiz Inacio Lula da Silva endorsed his running mate Fernando Haddad as the Workers Party’s candidate after electoral officials barred the imprisoned former president from running in the October vote
The latest XP/Ipespe poll published Friday showed Bolsonaro leading the pack with 26% support in a 1st round scenario, rising from 23% in prior survey; the former Ceara state Governor Ciro Gomes secured 12 percent while Fernando Haddad captured 10 percent voter support
Argentina’s peso was the worst EM performer, setting a new record low on a closing basis as the IMF said it would delay a $3b disbursement to the nation until talks finish
The government is aiming to save 196 billion pesos ($4.9 billion) through spending cuts next year as it attempts to reach a fiscal balance, according to a report by La Nacion newspaper
August national consumer price index increased 3.9 percent in the month
The Mexican peso was the best performer in Latin America, mostly tracking gains across emerging-market peers; Mexico is open to moving ahead with a bilateral trade pact with the U.S. if Canada can’t reach a deal on Nafta with the Trump administration, FT reported
President-elect Andres Manuel Lopez Obrador’s chief of staff Alfonso Romo said the new government will respect oil contracts and work with companies that already have contracts to achieve success; comments are reassuring to the market, according to a client note from Citigroup (NYSE:)
Upcoming data:
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Read More https://worldwide-finance.net/news/commodities-futures-news/gloom-lifts-from-emerging-currencies-after-rate-hikes-em-review
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The World Around "speaks about design as current affairs" says Beatrice Galilee
Dezeen has teamed up with The World Around to live-stream its 2022 summit on 5 February. Ahead of the conference, founder Beatrice Galilee explains the summit's focus and forecasts the changes she expects to see in the design industry this year.
The 2022 edition of architecture symposium The World Around will cover a wide range of contemporary topics including the rights of forests and trees to whether refugee camps should achieve world heritage status.
According to founder Galilee, this is part of an attempt to "disentangle contemporary architecture from the narrative of a primarily western canon".
"We try to use The World Around as a way to speak about design as current affairs, not just describing objects or buildings," Galilee told Dezeen.
"This year we are seeing more and more people working to unpack and understand the intensely complicated world we are living in."
Speakers at this year's conference include curator Lesley Lokko, who will present a new educational platform in Ghana called the African Futures Initiative, author Amitav Ghosh, who will discuss his new book the Nutmeg's Curse, and film director Matthew Heineman, who will focus on his documentary about the pandemic in New York called First Wave.
Above: Beatrice Galilee founded The World Around in 2020. Top: a photograph of Josh Begley's short film Best of Luck with the Wall, which was screened at the 2020 summit
The 2022 edition of The World Around is the third annual summit organised by the non-profit organisation, which was founded by Galilee in 2020 with the aim of deepening architectural discourse.
Dezeen previously live streamed the inaugural symposium in 2020 and the 2021 summit, in addition to the In Focus: Land series of talks The World Around hosted last year and a collaboration as part of Virtual Design Festival to mark Earth Day in 2020.
The World Around 2022 summit will be live-streamed on Dezeen on 5 February.
Read on for an interview with Galilee about The World Around and her plans for the summit below.
Dezeen: What is The World Around and why did you start it?
Beatrice Galilee: Someone once said The World Around was like a first draft of architectural history, which I really like. We create public programmes that bring together the most recent, important, influential, and emerging global architects, designers, and artists and ask them to share their work in a very short and accessible way.
I was the first architecture and design curator at The Metropolitan Museum of Art, and during the five years I was there, I tried to develop an effective way of regularly and impactfully communicating contemporary architecture and design. I organised a series of public programmes, 'In Our Time', and an annual all-day conference, 'A Year of Architecture in a Day' that we live-streamed on Dezeen.
Before The Met, I had been travelling all over the world working as a curator for biennales in China, Korea, and Portugal, had worked on really fun events for Milan Design Week, and had also started The Gopher Hole, my own space in London with aberrant architecture. The World Around is kind of a hybrid of all those curatorial experiences!
It brings what I learned from working with large, slow organisations and the fast-paced experimental spirit of biennales. We started just before the pandemic in January 2020, so things have changed quite a bit since our first event.
The inaugural edition of The World Around took place in New York in 2020
Dezeen: How did things change since your first event in January 2020?
Beatrice Galilee: It was a huge financial challenge to survive. As a brand new public charity, we don't have our own physical space, certainly not an auditorium, and so I decided to create collaborations with institutions that can host and broadcast those events. During the first few weeks of the pandemic, we worked with the team at Dezeen who hosted the Virtual Design Festival and organised our first 'Earth Day' public programme.
We then developed a residency model with the Guggenheim Museum in New York who hosted our annual summit last year and will be hosting our annual summit on 5 February this year, and we are now also in partnership with Het Nieuwe Instituut in Rotterdam. They are our first European partner, and we are working with them on a big event for 11 June, and we are talking to a few other international institutions about how we can collaborate with them too.
After the live event, we can then make the presentations into short films on our website so they're free and accessible to everyone. As an itinerant model, we're keen to partner with institutions all over the world to ensure we're raising awareness of the role architecture and design can play in critical conversations, as well as sharing inspiring stories of international designers, thinkers, and makers.
Previous editions of The World Around featured research by Julia Watson into indigenous architectural technologies
Dezeen: What do you think are the big shifts we'll see in the architecture and design sector this year? Where can the sector help global issues?
Beatrice Galilee: We try to use The World Around as a way to speak about design as current affairs, not just describing objects or buildings. This year we are seeing more and more people working to unpack and understand the intensely complicated world we are living in.
We have author Amitav Ghosh speaking about his new book the Nutmeg's Curse, film director Matthew Heineman will be speaking about his new documentary First Wave about the pandemic in New York, and Lesley Lokko will be presenting the African Futures Initiative, a new educational platform in Ghana.
In the past we have had Caroline Criado Perez speaking about design, data, and gender and BlackSpace urban collective sharing their work for Black architects and urbanists in the US, we have had programs discussing land and indigenous rights in the US.
Speakers at previous editions of The World Around include architect Junya Ishigami
Dezeen: What can you tell us about this year's summit? What is the focus?
Beatrice Galilee: The summit is always a round-up of all that happened over the past year. So we don't have a specific thematic focus, it just emerges after examining all the interesting projects and activities of the year.
One thing that really stands out is a sense of responsibility amongst designers and practitioners to disentangle contemporary architecture from the narrative of a primarily western canon. What architecture becomes history and why? What is preserved and for whom? Should a refugee camp achieve world heritage status? What are the rights of trees and forests? How can we use technology - games, apps, digital projects - to have a meaningful impact on lives and spaces?
Dezeen: Where would you like The World Around to be in five years?
Beatrice Galilee: We have lots of plans for the future! I would love to see The World Around organising events in many new cities and spaces, developing long-term collaborations with major global institutions.
The World Around takes place online on 5 February. See Dezeen Events Guide for an up-to-date list of architecture and design events taking place around the world.
Partnership content
This article was written as part of a partnership with The World Around. Find out more about our partnership content here.
The post The World Around "speaks about design as current affairs" says Beatrice Galilee appeared first on Dezeen.
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Gloom Lifts From Emerging Currencies After Rate Hikes: EM Review
New Post has been published on https://worldwide-finance.net/news/commodities-futures-news/gloom-lifts-from-emerging-currencies-after-rate-hikes-em-review
Gloom Lifts From Emerging Currencies After Rate Hikes: EM Review
© Bloomberg. Pedestrians gather near a gold and currency exchange store at the Grand Bazaar in Istanbul, Turkey, on Friday, Aug. 17, 2018. Turkish President Recep Tayyip Erdogan argued citizens should buy gold, then he said sell. Add dramatic swings in the lira, and the country’s traders are now enthusiastically doing both. Photographer: Ismail Ferdous/Bloomberg
(Bloomberg) — Emerging-market assets gained last week as Russia unexpectedly raised interest rates and Turkey hiked its one-week repo rate by more than forecast.
Highlights for the week ended Sept. 14:
Turkey’s lira was the best performer among 22 emerging-market currencies tracked by Bloomberg; policy makers defied President Recep Tayyip Erdogan by jacking up rates more than expected to bolster the flagging lira, lifting rates by 625 basis points to 24 percent; the decision came just after Erdogan said the nation “should cut this high interest rate”
Russia’s ruble flipped to gains from losses on Friday after the central bank unexpectedly raised interest rates for the first time since 2014; inflation risks have been mounting with a slumping currency and threats of U.S. sanctions
President Donald Trump is said to have instructed aides to proceed with tariffs on about $200 billion of Chinese products, even as Treasury Secretary Steve Mnuchin proposed another round of trade talks with Beijing
China’s economic momentum weakened a notch in August, with a continued slowdown in investment overshadowing solid retail sales and industrial production data
The White House sent contradictory messages to North Korea, announcing it’s ready to start planning a second meeting with Kim Jong Un just hours after President Trump’s top national security adviser said nuclear talks were stalled
Asia:
The onshore and offshore both declined for a third week; more than 60 percent of U.S. businesses operating in China were hurt by the initial round of tariffs between the Chinese and U.S. governments, with 74 percent foreseeing harm from future U.S. tariffs and 68% from potential Chinese retaliatory duties, according to a survey of more than 430 American companies
S&P Global Ratings lowered its credit ratings on seven Chinese local government financing vehicles by one notch
South Korean won strengthened; the country’s jobless rate rose to 4.2 percent in August, the highest since January 2010 and up from 3.8 percent in July; it will be difficult for the country’s job situation to improve in the short term
Prime Minister Lee Nak-yon said it is time to start thinking about rate increases
Demand-side inflationary pressure remains tepid and it’s “dangerous” to take preemptive monetary measures at this stage, Bank of Korea board member Shin In-seok said
The economy is continuing to recover, led by exports and domestic consumption, the finance ministry said in its monthly green book report
President Moon Jae-in asked heads of the country’s four biggest conglomerates — Samsung (KS:), Hyundai Motor, SK, and LG — to join his visit to Pyongyang to participate in the inter-Korean summit with North Korean leader Kim Jong Un next week, Chosun Ilbo reported
India’s rupee dropped to a record low before trimming the week’s loss; the government unveiled measures to prop up the sagging currency, including steps to facilitate bond issuance by local companies and possible curbs on imports
Officials from the finance ministry have asked the Reserve Bank of India to do more to maintain adequate liquidity in the banking system, people with knowledge of the matter said
The nation’s inflation eased below 4 percent for the first time in 10 months
The Indonesian rupiah posted its first weekly gain in five; Finance Minister Sri Mulyani Indrawati said authorities want to tighten some rules on exporters and are seeking a fair share of export earnings to be retained in the country
Thailand’s SET Index of stocks rallied as King Maha Vajiralongkorn approved two laws, one for the election of members of parliament, and the other for the selection of senators, according to an announcement in the Royal Gazette
Thailand has no need to raise the key interest rate now as the nation’s inflation remains benign, Finance Minister Apisak Tantivorawong said
The government plans to borrow 1.16 trillion baht ($36 billion) in fiscal year 2019
The Malaysian ringgit rose, halting a 12-week losing streak; the trade war may benefit Malaysia over the next year or so, especially in electronics and steel industries; in the long term, U.S.-China trade conflicts would be negative for the country, Finance Minister Lim Guan Eng said
Lim said Malaysia is paring expectations for how much money it can recoup from the 1MDB sovereign wealth fund, and the country would be “very lucky” to get back just half
Recouping all funds lost through 1MDB may not be possible as the government wouldn’t be able to sell assets at the purchase price and some funds have been squandered, Anwar Ibrahim, president-elect of ruling People’s Justice Party, said
Police are investigating bond sales and transactions by institutions linked to 1MDB, according to Deputy Inspector General Noor Rashid Ibrahim
The Philippine peso weakened a fifth straight week, prompting the central bank to have reactivated a hedging program first introduced during the 1997 Asian Financial Crisis to support the peso; the program offers currency forward contracts to bank clients with foreign exchange obligations of at least $50,000
President Rodrigo Duterte agreed to nine measures to contain inflation and a corresponding executive order to implement them immediately, Economic Planning Secretary Ernesto Pernia said
First-half current-account deficit came in at $3.1 billion, compared with a $130 million shortfall a year ago
EMEA:
Turkish lira advanced a second week; President Erdogan appointed himself chairman of Turkey’s sovereign wealth fund and got rid of the entire management staff that had presided over two years of inaction
Gross domestic product rose 5.2 percent during the three months through June from a year earlier
Russia’s ruble halted a 3-week slump as policy makers said they’ll “consider the necessity of further increases” after lifting their benchmark to 7.5 percent, a level last seen in March, from 7.25 percent
Governor Elvira Nabiullina, who first broached the possibility of a rate hike earlier this month, said easing may not resume for more than a year
The two Russians accused by the U.K. of carrying out a nerve-agent attack on a former spy denied the charges in an interview with RT state television
Russia’s economy expanded faster than was earlier estimated in the second quarter
South Africa’s rand strengthened; the country’s stable ratings outlook means there’s little chance of a change in its assessment soon, Moody’s Investors Service said
Business confidence declined to the lowest level this year as industries raised concern about policy uncertainty
South Africa may collect less revenue than forecast and trim its growth prediction for the year after the economy fell into a recession, Finance Minister Nhlanhla Nene said
The Hungarian forint rose; the European Parliament adopted a recommendation to punish the country for the perceived erosion of the rule of law, a process that is still unlikely to yield concrete sanctions
Prime Minister Viktor Orban received an unprecedented EU censure as European lawmakers called for his government to face possible sanctions for eroding democratic standards
Ukraine was given a boost in its fight with Russia over a defaulted $3 billion bond after the U.K. Court of Appeal ordered a full-blown trial
Polish zloty climbed; the country’s Monetary Policy Council kept FX intervention as an option while maintaining a floating exchange rate, according to its policy guidelines for 2019 published on the parliament’s website
Saudi Arabia is said to be raising about $2 billion from the sale of Islamic bonds
The nation’s sovereign wealth fund will sign an $11 billion loan, marking its first-ever borrowing, people familiar with the matter said
Ghana’s long-term foreign currency debt rating was upgraded to B from B- by Standard & Poor’s
Latin America:
The Brazilian real was the second worst performer; right-wing presidential front-runner Jair Bolsonaro underwent more surgery Wednesday evening after being stabbed on Sept. 6; Bolsonaro’s son said he is not in shape for the first round campaigning
Luiz Inacio Lula da Silva endorsed his running mate Fernando Haddad as the Workers Party’s candidate after electoral officials barred the imprisoned former president from running in the October vote
The latest XP/Ipespe poll published Friday showed Bolsonaro leading the pack with 26% support in a 1st round scenario, rising from 23% in prior survey; the former Ceara state Governor Ciro Gomes secured 12 percent while Fernando Haddad captured 10 percent voter support
Argentina’s peso was the worst EM performer, setting a new record low on a closing basis as the IMF said it would delay a $3b disbursement to the nation until talks finish
The government is aiming to save 196 billion pesos ($4.9 billion) through spending cuts next year as it attempts to reach a fiscal balance, according to a report by La Nacion newspaper
August national consumer price index increased 3.9 percent in the month
The Mexican peso was the best performer in Latin America, mostly tracking gains across emerging-market peers; Mexico is open to moving ahead with a bilateral trade pact with the U.S. if Canada can’t reach a deal on Nafta with the Trump administration, FT reported
President-elect Andres Manuel Lopez Obrador’s chief of staff Alfonso Romo said the new government will respect oil contracts and work with companies that already have contracts to achieve success; comments are reassuring to the market, according to a client note from Citigroup (NYSE:)
Upcoming data:
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Read More https://worldwide-finance.net/news/commodities-futures-news/gloom-lifts-from-emerging-currencies-after-rate-hikes-em-review
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Gloom Lifts From Emerging Currencies After Rate Hikes: EM Review
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Gloom Lifts From Emerging Currencies After Rate Hikes: EM Review
© Bloomberg. Pedestrians gather near a gold and currency exchange store at the Grand Bazaar in Istanbul, Turkey, on Friday, Aug. 17, 2018. Turkish President Recep Tayyip Erdogan argued citizens should buy gold, then he said sell. Add dramatic swings in the lira, and the country’s traders are now enthusiastically doing both. Photographer: Ismail Ferdous/Bloomberg
(Bloomberg) — Emerging-market assets gained last week as Russia unexpectedly raised interest rates and Turkey hiked its one-week repo rate by more than forecast.
Highlights for the week ended Sept. 14:
Turkey’s lira was the best performer among 22 emerging-market currencies tracked by Bloomberg; policy makers defied President Recep Tayyip Erdogan by jacking up rates more than expected to bolster the flagging lira, lifting rates by 625 basis points to 24 percent; the decision came just after Erdogan said the nation “should cut this high interest rate”
Russia’s ruble flipped to gains from losses on Friday after the central bank unexpectedly raised interest rates for the first time since 2014; inflation risks have been mounting with a slumping currency and threats of U.S. sanctions
President Donald Trump is said to have instructed aides to proceed with tariffs on about $200 billion of Chinese products, even as Treasury Secretary Steve Mnuchin proposed another round of trade talks with Beijing
China’s economic momentum weakened a notch in August, with a continued slowdown in investment overshadowing solid retail sales and industrial production data
The White House sent contradictory messages to North Korea, announcing it’s ready to start planning a second meeting with Kim Jong Un just hours after President Trump’s top national security adviser said nuclear talks were stalled
Asia:
The onshore and offshore both declined for a third week; more than 60 percent of U.S. businesses operating in China were hurt by the initial round of tariffs between the Chinese and U.S. governments, with 74 percent foreseeing harm from future U.S. tariffs and 68% from potential Chinese retaliatory duties, according to a survey of more than 430 American companies
S&P Global Ratings lowered its credit ratings on seven Chinese local government financing vehicles by one notch
South Korean won strengthened; the country’s jobless rate rose to 4.2 percent in August, the highest since January 2010 and up from 3.8 percent in July; it will be difficult for the country’s job situation to improve in the short term
Prime Minister Lee Nak-yon said it is time to start thinking about rate increases
Demand-side inflationary pressure remains tepid and it’s “dangerous” to take preemptive monetary measures at this stage, Bank of Korea board member Shin In-seok said
The economy is continuing to recover, led by exports and domestic consumption, the finance ministry said in its monthly green book report
President Moon Jae-in asked heads of the country’s four biggest conglomerates — Samsung (KS:), Hyundai Motor, SK, and LG — to join his visit to Pyongyang to participate in the inter-Korean summit with North Korean leader Kim Jong Un next week, Chosun Ilbo reported
India’s rupee dropped to a record low before trimming the week’s loss; the government unveiled measures to prop up the sagging currency, including steps to facilitate bond issuance by local companies and possible curbs on imports
Officials from the finance ministry have asked the Reserve Bank of India to do more to maintain adequate liquidity in the banking system, people with knowledge of the matter said
The nation’s inflation eased below 4 percent for the first time in 10 months
The Indonesian rupiah posted its first weekly gain in five; Finance Minister Sri Mulyani Indrawati said authorities want to tighten some rules on exporters and are seeking a fair share of export earnings to be retained in the country
Thailand’s SET Index of stocks rallied as King Maha Vajiralongkorn approved two laws, one for the election of members of parliament, and the other for the selection of senators, according to an announcement in the Royal Gazette
Thailand has no need to raise the key interest rate now as the nation’s inflation remains benign, Finance Minister Apisak Tantivorawong said
The government plans to borrow 1.16 trillion baht ($36 billion) in fiscal year 2019
The Malaysian ringgit rose, halting a 12-week losing streak; the trade war may benefit Malaysia over the next year or so, especially in electronics and steel industries; in the long term, U.S.-China trade conflicts would be negative for the country, Finance Minister Lim Guan Eng said
Lim said Malaysia is paring expectations for how much money it can recoup from the 1MDB sovereign wealth fund, and the country would be “very lucky” to get back just half
Recouping all funds lost through 1MDB may not be possible as the government wouldn’t be able to sell assets at the purchase price and some funds have been squandered, Anwar Ibrahim, president-elect of ruling People’s Justice Party, said
Police are investigating bond sales and transactions by institutions linked to 1MDB, according to Deputy Inspector General Noor Rashid Ibrahim
The Philippine peso weakened a fifth straight week, prompting the central bank to have reactivated a hedging program first introduced during the 1997 Asian Financial Crisis to support the peso; the program offers currency forward contracts to bank clients with foreign exchange obligations of at least $50,000
President Rodrigo Duterte agreed to nine measures to contain inflation and a corresponding executive order to implement them immediately, Economic Planning Secretary Ernesto Pernia said
First-half current-account deficit came in at $3.1 billion, compared with a $130 million shortfall a year ago
EMEA:
Turkish lira advanced a second week; President Erdogan appointed himself chairman of Turkey’s sovereign wealth fund and got rid of the entire management staff that had presided over two years of inaction
Gross domestic product rose 5.2 percent during the three months through June from a year earlier
Russia’s ruble halted a 3-week slump as policy makers said they’ll “consider the necessity of further increases” after lifting their benchmark to 7.5 percent, a level last seen in March, from 7.25 percent
Governor Elvira Nabiullina, who first broached the possibility of a rate hike earlier this month, said easing may not resume for more than a year
The two Russians accused by the U.K. of carrying out a nerve-agent attack on a former spy denied the charges in an interview with RT state television
Russia’s economy expanded faster than was earlier estimated in the second quarter
South Africa’s rand strengthened; the country’s stable ratings outlook means there’s little chance of a change in its assessment soon, Moody’s Investors Service said
Business confidence declined to the lowest level this year as industries raised concern about policy uncertainty
South Africa may collect less revenue than forecast and trim its growth prediction for the year after the economy fell into a recession, Finance Minister Nhlanhla Nene said
The Hungarian forint rose; the European Parliament adopted a recommendation to punish the country for the perceived erosion of the rule of law, a process that is still unlikely to yield concrete sanctions
Prime Minister Viktor Orban received an unprecedented EU censure as European lawmakers called for his government to face possible sanctions for eroding democratic standards
Ukraine was given a boost in its fight with Russia over a defaulted $3 billion bond after the U.K. Court of Appeal ordered a full-blown trial
Polish zloty climbed; the country’s Monetary Policy Council kept FX intervention as an option while maintaining a floating exchange rate, according to its policy guidelines for 2019 published on the parliament’s website
Saudi Arabia is said to be raising about $2 billion from the sale of Islamic bonds
The nation’s sovereign wealth fund will sign an $11 billion loan, marking its first-ever borrowing, people familiar with the matter said
Ghana’s long-term foreign currency debt rating was upgraded to B from B- by Standard & Poor’s
Latin America:
The Brazilian real was the second worst performer; right-wing presidential front-runner Jair Bolsonaro underwent more surgery Wednesday evening after being stabbed on Sept. 6; Bolsonaro’s son said he is not in shape for the first round campaigning
Luiz Inacio Lula da Silva endorsed his running mate Fernando Haddad as the Workers Party’s candidate after electoral officials barred the imprisoned former president from running in the October vote
The latest XP/Ipespe poll published Friday showed Bolsonaro leading the pack with 26% support in a 1st round scenario, rising from 23% in prior survey; the former Ceara state Governor Ciro Gomes secured 12 percent while Fernando Haddad captured 10 percent voter support
Argentina’s peso was the worst EM performer, setting a new record low on a closing basis as the IMF said it would delay a $3b disbursement to the nation until talks finish
The government is aiming to save 196 billion pesos ($4.9 billion) through spending cuts next year as it attempts to reach a fiscal balance, according to a report by La Nacion newspaper
August national consumer price index increased 3.9 percent in the month
The Mexican peso was the best performer in Latin America, mostly tracking gains across emerging-market peers; Mexico is open to moving ahead with a bilateral trade pact with the U.S. if Canada can’t reach a deal on Nafta with the Trump administration, FT reported
President-elect Andres Manuel Lopez Obrador’s chief of staff Alfonso Romo said the new government will respect oil contracts and work with companies that already have contracts to achieve success; comments are reassuring to the market, according to a client note from Citigroup (NYSE:)
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