Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

OPEC+ agreed to its deepest cuts to oil production since 2020

Published

on

OPEC+ agreed its deepest cuts to oil production since the 2020 COVID pandemic at a Vienna meeting

OPEC has agreed to the biggest cuts in oil output since the height of the global health crisis.

Ministers from the group of oil-producing nations, and allies including Russia, met in Vienna on Wednesday.

That marked their first in-person get-together since lockdowns made them impossible.

They agreed to slash production by 2 million barrels per day. This move could spur a recovery in oil prices.

They’ve fallen from $120 per barrel three months ago, to about $90 now.

But the decision is unlikely to go down well in Washington.

After OPEC+ agreed to cut oil production, U.S. Secretary of State Antony Blinken said that the United States is working to ensure energy supply is on the market and that prices are low.

Asked if he was disappointed in U.S. ally Saudi Arabia agreeing to the cuts, Blinken said Washington has a “multiplicity of interests with regard to Saudi Arabia.”

“We are working every single day to make sure to the best of our ability that, again, energy supply from wherever is actually meeting demand in order to ensure that energy is on the market and the prices are kept low,” Blinken said.

It wanted OPEC to pump more oil, to help reduce prices ahead of U.S. midterm elections.

The Biden administration also wants to limit revenues for Russia, as part of moves to punish it for the conflict in Ukraine.

However, Saudi Arabia has refused to condemn Moscow, which is part of the broader OPEC+ grouping.

Market watchers at JPMorgan expect Washington to react with countermeasures by releasing more oil stocks.

The UAE energy minister said Wednesday’s decision was technical, not political.

The Saudis and other OPEC members say it’s aimed at calming market volatility, not targeting any particular price for oil.

Continue Reading

Money

Interest rates impact investments, housing, and economy

Interest Rate Cuts: Implications for Borrowing, Housing Prices, and Australia’s Economy Post-COVID

Published

on

“Interest Rate Cuts: Implications for Borrowing, Housing Prices, and Australia’s Economy Post-COVID”

In Short

Interest rates in the US and Australia are under scrutiny as the impact of COVID-19 fades, raising concerns about investments and borrowing capacity. Experts are debating the long-term effects of Australia’s recent rate cut on housing prices and the cost of living crisis.

This development raises questions about its implications for investments, repayments, and savings.

To discuss these issues, we have Andrew Woodward from the Investor’s Way.

The rate cut has raised concerns about its impact on Australians’ borrowing capacity and the potential for rising housing prices.

There is also speculation about how this rate cut could affect the ongoing cost of living crisis in Australia. Experts are considering the possible long-term consequences of this reduction on Australia’s economy.

Many are asking whether this signals the start of a series of rate cuts by the Reserve Bank of Australia.

It’s important to examine how this shift in Australia’s monetary policy aligns with broader global economic trends.

Continue Reading

Money

Hainan’s hidden paradise is transforming the global economy

Published

on

Once a quiet island, now a booming gateway—how Hainan is becoming a powerhouse of trade, innovation, and opportunity

The Big Picture unveils the incredible story behind China’s newest economic powerhouse. Host Mark Llewellyn explores a tropical island that has been transformed into a thriving hub for Australian and international businesses. As part of the Fortune Bay economic zone, this region is poised to drive China’s economy—and global growth—over the next decade. With ambitious plans in place, the opportunities for innovative and successful Australian businesses could be immense.

In this episode, discover China’s best-kept secret, where the rapidly evolving, visa-free, and largely tax-free island of Hainan is unveiled to the world for the first time. With its booming economy and vast untapped potential, Hainan presents a golden opportunity for Australian businesses looking to break into the world’s largest market. Journey through breathtaking landscapes, meet visionary leaders, and explore bold innovations shaping this emerging economic powerhouse—one poised to drive global growth for the next decade.

 

Continue Reading

Money

From fishing village to tech titan—Guangzhou and Shenzhen are shaping our future

Published

on

How two Chinese megacities became the beating heart of innovation, trade, and global ambition

The Big Picture unveils the incredible story behind China’s newest economic powerhouse. Host Mark Llewellyn explores a tropical island that has been transformed into a thriving hub for Australian and international businesses. As part of the Fortune Bay economic zone, this region is poised to drive China’s economy—and global growth—over the next decade. With ambitious plans in place, the opportunities for innovative and successful Australian businesses could be immense.

In this episode, Mark Llewellyn explores the economic dynamism of Guangzhou and Shenzhen—two of China’s most vibrant cities brimming with opportunity. From Guangzhou, home to 30,000 foreign-owned companies and a rich cultural tapestry, to Shenzhen, which has evolved from a fishing village into a high-tech ‘Silicon Valley’ powerhouse, this episode uncovers the forces driving their success. Get an exclusive look inside DJI, the world’s largest drone manufacturer, and meet the visionary minds shaping the future of technology.

Continue Reading

Trending Now