MARKET UPDATE

Brent climbs to more than 7-year high on Mideast tensions, tight supply

Oil prices rose more than $1 on Tuesday to a more than seven-year high on worries about possible supply disruptions after Yemen’s Houthi group attacked the United Arab Emirates, escalating hostilities between the Iran-aligned group and a Saudi Arabian-led coalition.

 

China’s 2021 diesel exports sink to 5-year low, LNG imports hit record high

China’s diesel exports in December sank to their lowest monthly level since March 2015, bringing the 2021 total to the lowest since 2016 at 17.21 million tonnes, data showed on Tuesday.

 

Dollar Rises as Treasury Yields Hit 2-Year High; BoJ Disappoints Hawks

The dollar rose in early dealings in Europe on Tuesday, pulled higher as concerns over inflation pushed 10-year U.S. government bond yields to their highest in over two years.

 

China cenbank to roll out more policy moves to stabilise growth

China’s central bank will roll out more policy measures to stabilise the economy as downward pressure persists, and move ahead of the market curve, vice governor Liu Guoqiang said on Tuesday.

On Monday, the People’s Bank of China unexpectedly cut borrowing costs on its medium-term loans for the first time since April 2020.

 

UK regulator fines Mastercard, others for prepaid cards cartel

Britain’s payments regulator on Tuesday fined five payments companies including Mastercard (NYSE:MA) a total of 33 million pounds ($45.01 million) for cartel behaviour involving prepaid cards issued to vulnerable people on welfare benefits.

Mastercard received the largest fine of 31.56 million pounds ($43.04 million). The other companies fined were allpay, Advanced Payment Solution, Prepaid Financial Services and Sulion.

 

Tesla CEO Elon Musk to visit Berlin factory in mid-February

Elon Musk will visit Tesla factory in Berlin in mid-February, the chief executive tweeted on Tuesday, following speculation on Twitter (NYSE:TWTR) that he would be in Germany this month.

 

 

 

 

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