Nikolas Stylianou
19 November 2019
India – From the fastest growing economies
Union Minister Anurag Thakur said that India is the country with the higher growth and is not facing economic slowdown. One of the most significant measures for this growing is that the goverment pursue to merge banks and tax concessions to industries. This could be proved smart because with merging many banks with bigger banks aims to secure more the economic activities of the banks. In addition the number of tax payers has been increased and he said measures have been taken against “blackmoney”. India’s GDP growth around 7.5% the last five years.
Trade balance unceratinty & Brexit
Great’s Britain exit from Europe could lead to many issues in relation with other European countries. Many concerns have been generated regarding the imports and exports, the trade balance in general . Among 15 countries New Zealand, India and United States asked for a compensation from the UK and the EU at the World Trade Organization meeting. Australia expressed concerns for their beef and lamp exports that caused significantly from several Brexit delays. All the countries asked for improved system which allows easier acceess to the European market mainly on farm products in order to eliminate the possibility to be less profitable in exporting products and they prefer to export in other countries rather than UK.
Oil Funding reduced by European Investment Bank
The European Union proceeding to stop funding for fossil fuel projects by the end of 2021 as a result to decrease the yearly investments. This measure will come into effect one year later than the predetermine decision of this proposal. Since 2013 13.4 billion have been funded from European Investment Bank (EIB) for these projects and the last year have been funded another 2 billions. According with the new policy a commitment should be placed regarding carbon capture and storage. The energy projects that applied need to prove that can produce one kilowatt of energy and simultaneaously emitting less than 250 grams of carbon dioxide. These measures have been taken in order to combat the climate change and to decrease carbon emmissions.
Shares records – Chinas Rates
Assian shares recorded new high levels after the cut of rates that Central Bank of China set in an reverse repurchase aggrement where the rates were decreased for seven. The MSCI index where 49-countries included has shown that went higher but little lower than previous year record highs. This indicates that China easing its monetary policy. The Beiijing’s latest policy enhanced the hope for more significant progress in trade deals with U.S. There is an upgrade and more positive sentiment on the Chinese equities as Patric Schowitz global market strategist at J.P Morgan Asset Management said.
