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19.06.2017 23:00 Oil`s Risk to the Russian Ruble

Which of the following is expected to be the biggest challenge facing the ruble in the coming year? 1. Market structure changes. 2. Russian Central bank politics. 3. Navigating Geopolitical challenges? 4. Vodka prices. 5. Oil? If you said vodka prices then you were totally wrong. That was a joke, since everyone knows that Vodka is priceless in Russia. The answer is oil. Russia has one of the largest petroleum industries in the world. It has been blessed with many natural resources, including the largest reserve of natural gas, the second largest Coal reserve, and the eighth largest oil reserve. However, the ruble was seriously impacted by the low oil prices over the last few years. A recent survey conducted by Bloomberg survey on foreign exchange (FX) executives showed that 51% believe that oil prices will have the biggest effect on the ruble.

17.06.2017 13:05 Migrants Sending Billions More Home Than in 2007

Migrants are sending home billions of dollars more than they did a decade ago—and the rate of growth in remittances is almost double the increase in migration, according to a UN report. The report commissioned by the International Fund for Agricultural Development said that remittances increased by 51% during the decade from 2007 to 2016 while migration rose by 28% and population in the home countries of migrants grew by 13%, AP reported. Most remittances ($117 billion) came from the US, followed by Europe ($115 billion) and the Persian Gulf Arab states ($100 billion). Over 100 countries receive more than $100 million in remittances every year, the report said, led by China, India, the Philippines, Mexico and Pakistan. It said the top 10 sending countries account for almost half the annual remittances: US, Saudi Arabia, the UAE, Russia, Germany, Kuwait, France, Qatar, Italy and Britain.

15.06.2017 12:01 WTTC: Global tourism supports twice as many jobs as financial sector

According to a new report by the World Travel & Tourism Council (WTTC), the global Travel & Tourism sector directly sustains twice as many jobs as the financial sector, and five times as many jobs as the chemicals manufacturing sector. The WTTC Benchmarking Report 2017 compares Travel & Tourism to eight other sectors, which are considered to have similar breadth and global presence, across 27 countries and six regions. In 2016, Travel & Tourism supported 108 million jobs directly, and 292 million in total, taking the direct, indirect, and induced impact into account. The report shows that both on direct and total level, Travel & Tourism employs more people than the automotive manufacturing, banking, mining, chemicals manufacturing, and financial services sectors.

13.06.2017 11:57 Half of expected world GDP growth in the next 2 years will come from the US and China

According to forecasts from earlier this year by the World Bank, the global economy is expected to average a Real GDP growth rate of 2.8% between 2017-2019. But where will this growth actually happen? Is it in giant countries that are growing at a stable 2% clip, or is it occurring in the smaller emerging markets where 8% growth is not uncommon? Today`s chart looks at individual countries between 2017-2019, based on their individual growth projections from the World Bank, to see where new wealth is being created. Even though growth has slowed in China somewhat, the World Bank still estimates its economy to expand at a 6.5% clip this year, and 6.3% in both 2018 and 2019. Add these numbers onto the world`s second biggest economy (and the biggest in PPP terms), and you have an incredible amount of growth. In fact, about 35.2% of global GDP growth will come from China over this period of time, putting the country`s economic output $2.3 trillion higher.

11.06.2017 14:29 OECD says global economic outlook has improved

The global economic outlook is doing better than it was, but has not yet improved sufficiently to make a material difference to people`s lives, the Organisation for Economic Co-operation and Development said in its twice yearly assessment of the world economy. The Paris-based international organisation has improved most of its forecasts but warned politicians against complacency because it thinks the improved growth outlook is temporary without signs yet of an improvement in underlying performance. Speaking to the Financial Times, Catherine Mann, chief economist of the OECD, said: “The global economic outlook is better, but we are concerned that policymakers will look at the broader-based cyclical upturn, become complacent and think that `our job is done`.” Against a backdrop of heightened hostility to globalisation from the Trump administration and other nationalist governments, the OECD also argued that economies and people`s lives would be improved by a global trade recovery and more globalisation so long as countries help those hit by greater competition. In its forecasts, the OECD predicted global growth rates will rise to 3.5 per cent in 2017 and 3.6 per cent in 2018 from a recent low of 3 per cent in 2016, its lowest since 2009.

07.06.2017 12:19 Five things to look out for in the world economy this week

This week the UK general election - and of course last night`s heinous terrorist attack in London - drowns out everything, or at least it does for Britons. But whatever the outcome on Thursday, the economics won`t change. The next government, for it will be a new government in a new parliament, will face a series of economic challenges over the next five years. So here are five things to look for, not next week, but during the lifetime of the new parliament. First, there is a strong probability that there will be a cyclical global downturn. This may or may not be sufficiently serious to become a recession in major developed countries, and the timing of course is quite uncertain. But if you look back at previous economic cycles since the Second World War, some sort of slowing of the developed world looks highly likely. This expansion, at least in the US and UK, has been running for nine years and that is at the top end of previous growth phases. Europe, which suffered a double recession, may have more leeway, but it would be foolish to assume that economic management has advanced enough to abolish boom and bust.

04.06.2017 12:32 Russian Ruble May See Devaluation

According to Russia`s central bank, the real effective exchange rate of the Russian Ruble increased by 2,5% in April 2017 against March 2017. What is the long-term forecast and what are the chances of a weaker ruble in the near future? Market Leader will try to figure this out together with several experts. According to financial and market analyst Stepan Demura at Rosbalt, chances are the market is going to stand still over the next 2-3 months. However, he expects the Russian ruble to crash all the way down to 97 RUB for 1USD later this year. Yet, his says this is going to be just the beginning. Later on, the Russian Ruble is likely to crash down to 125. By 2019, we may well see even 500RUB per 1USD. If that`s the case, this is going to be a nightmare for the Russian economy and financial system. Against such forecasts the forecasts mentioning 70RUB per 1USD are not that scary anymore. Fundamentally, this is just a recovery, which is likely to be followed by a strong global recession. The expert says that it`s going to be way stronger than the one seen in 2007-2008. With that being said, international stock indexes yet have the last tiny rally before crashing. This rally may take 3 to 5 months. This is expected to be followed by the strongest crash in the entire history of financial markets, with all the related consequences for the world, including Russia and its national currency. Still, the expert tries to stay optimistic. He says that those who think this is bad news for the world is ignorant when it comes to economics and finances. Savvy investors will definitely catch at the chances and make tons of money on this crisis.

31.05.2017 00:17 If Europe Really Worried About Russia, It Would Get Serious About Defense Spending

NATO leaders got acquainted with President Donald Trump this week. One can only imagine what they thought of the Donald. Their main objective was to reinforce the efforts of his aides to turn him into a traditional American cheerleader for European dependence. For those seeking to revive an alliance created almost seventy years ago, in a vastly different time, Russia has resumed its role as the “necessary” enemy. The organization faded in relevance—indeed, lost its raison d`être—but recently reasserted its role as Europe`s guardian. Lt. Gen. Ben Hodges said the United States was returning troops to the continent as part of the “transition from assurance to deterrence.” Their “mission is to deter Russia,” he added. Since Russia`s occupation of Crimea and intervention in eastern Ukraine there has been much fevered rhetoric about the Russian Threat. A Hitleresque Vladimir Putin was prepared to occupy the rest of Ukraine, swallow the three Baltic States, and sweep into Poland. Some analysts posited threats against Finland and the Nordic nations. Shrill demands arose for allied—and especially American—deployments along NATO`s border with Russia, as well as expanded alliance membership. Yet the Europeans don`t fear a Russian variant of Blitzkrieg. Ignore what they say. Look at what they do. Moscow occupied Crimea in March 2014. That same year NATO Europe reduced its real collective military spending by one percent. In 2015 the same countries increased real outlays by just .5 percent. Last year the hike, heralded as a grand turnaround and harbinger of future increases, was an anemic 3.8 percent.

28.05.2017 22:00 QNB: Global trade growth may recover in 2017

Global trade growth, which has undergone an “extended slump” since the financial crisis, may finally recover this year, QNB has said in an economic commentary. According to QNB, global trade growth has been “deteriorating steadily” since the financial crisis in 2008 and fell to a new low in 2016. However, recent data suggest that the persistent downward may have begun to reverse towards the end of 2016 and during early 2017. “We expect global trade to recover in 2017 as the factors that drove the slowdown have gone into reverse, although some risks remain,” QNB said. Global trade has been declining, even when compared to global GDP growth, it said. Before the financial crisis, in 2003-07, global trade grew at more than twice the rate of global GDP, but this fell to 1.4 times the GDP in 2011-15 and to just 0.9 times in 2016.

26.05.2017 01:06 A new reality in the global economy

Recently, in his first interview as United States president with The Economist magazine, Donald Trump explained and laid down his economic vision for the US and the global economy. This is perhaps his most comprehensive explanation about what he wants to do for the economy, though the United Kingdom-based magazine still deemed it inadequate and incoherent, and considering it more like a business wishlist rather than an economic plan. Be that as it may, Trump`s grand strategy for the economy, or “Trumponomics”, has three crucial objectives: achieve fairer trade deals; reduce taxes and deregulation; and, spur more infrastructure spending. All these, he believes, will create jobs, promote growth, reduce trade deficits and create an investment boom for the US economy. There are, of course, some issues with his proposal, like how he could get Congress to implement his expansive tax cuts and fund massive infrastructure projects. Trumponomics is also seen as self-contradictory and has been based on a misdiagnosis of the root cause of the US`s trade deficit. The magazine argues that the focus on addressing trade deficit without improving savings would jeopardise the US economy with the possible reduction in foreign capital flowing into the US in the long run.


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