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

News

Russia strikes Ukrainian grain port ahead of Putin-Erdogan talks

Published

on

Ukrainian officials have reported a nighttime air attack by Russia on one of Ukraine’s crucial grain-exporting ports, just hours before Russian President Vladimir Putin and Turkish President Tayyip Erdogan were scheduled to engage in talks on the topic of regional food security.

The attack has heightened tensions in the region, particularly as it coincides with efforts by Ankara and the United Nations to resurrect a Ukraine grain export agreement that previously alleviated global food shortages.

The Ukrainian air force issued an urgent advisory to residents of Izmail port, situated on the Danube River in the Odesa region and one of Ukraine’s primary grain-exporting hubs, instructing them to seek shelter after midnight on Monday.

Reports from Ukrainian media outlets suggested that explosions were heard in the vicinity of the port.

The meeting between Putin and Erdogan, taking place in the Russian Black Sea resort of Sochi, is of significant importance as Ankara and the UN endeavour to rekindle the Ukraine grain export pact. Turkey has underscored the talks’ vital nature for the success of this agreement.

Russia withdrew from the deal in July, citing obstacles faced by its own food and fertiliser exports, coupled with what it perceived as insufficient Ukrainian grain allocation to countries in dire need.

Subsequently, Moscow has escalated its attacks on the Danube River ports, which have since become Ukraine’s primary conduit for grain exports.

Monday’s air strike, the full scale of which remains uncertain, follows a series of Russian strikes on Sunday that targeted the other major Danube port, Reni, resulting in damage to the port’s infrastructure and at least two injuries.

Continue Reading

News

Trump and Xi strike temporary trade truce after six years

Trump and Xi establish temporary trade truce, reducing tariffs and enhancing U.S. exports amid lingering economic tensions.

Published

on

Trump and Xi establish temporary trade truce, reducing tariffs and enhancing U.S. exports amid lingering economic tensions.


President Donald Trump and Chinese leader Xi Jinping have agreed to a temporary trade truce, cutting tariffs and boosting U.S. exports.

Analysts remain cautious, warning deep economic divides still linger.

#Trump #XiJinping #TradeDeal #USChinaRelations #Tariffs #GlobalTrade #Economy #Soybeans #RareEarths #TickerNews


Download the Ticker app

Continue Reading

News

Powell warns against further December interest rate cuts

Powell warns against assumptions of further rate cuts, highlighting divisions within the Fed amid ongoing economic uncertainties

Published

on

Powell warns against assumptions of further rate cuts, highlighting divisions within the Fed amid ongoing economic uncertainties

video
play-sharp-fill
In Short:
– Jerome Powell stated further interest rate cuts are uncertain after recent decreases, aiming to manage market expectations.
– The Fed ended its balance sheet reduction due to lending market disruptions and mixed views on future rate cuts among officials.

Federal Reserve chairman Jerome Powell indicated that further interest rate cuts are not guaranteed following the recent decrease. In a press conference, he stated that a further reduction in December is “far from” certain. His comments aimed to temper market expectations, where the likelihood of another cut was previously estimated at over 90 per cent.In response to Powell’s remarks, yields on the two-year treasury rose, and traders adjusted their expectations, now estimating a 60 per cent chance of a December reduction. Recently, the Federal Open Market Committee voted 10-2 to lower the federal funds rate target range to 3.75-4 per cent, in response to concerns about the labour market.

Banner

The Fed has also announced an end to its balance sheet reduction efforts due to disruptions in short-term lending markets. Since 2022, the bank has reduced its asset holdings by over $US2 trillion following aggressive purchases aimed at stabilising the economy after the pandemic.

Policy Divisions

Recent post-meeting statements highlighted mixed views among Fed officials about the pace of future rate cuts. Powell remarked that uncertainty surrounding economic conditions necessitates a cautious approach. Ongoing government shutdowns have limited policymakers’ access to crucial economic data, complicating decision-making.

Recent labour market developments show slowed job gains, raising concerns about employment. The Fed is also cautious about reducing rates too quickly due to inflation remaining above their 2 per cent target, reflecting a complex economic landscape. Policymakers have struggled with decisions amid data limitations from the government shutdown, impacting their assessments of inflation and economic indicators.


Download the Ticker app

Continue Reading

News

Trump finalises trade deal with South Korea at summit

Trump and South Korea finalise trade deal as he prepares for vital summit with Xi Jinping in Busan

Published

on

Trump and South Korea finalise trade deal as he prepares for vital summit with Xi Jinping in Busan

<iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/GB4FDyAt_a4?si=lN5bO3Upkyr75zAa” title=”YouTube video player” frameborder=”0″ allow=”accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share” referrerpolicy=”strict-origin-when-cross-origin” allowfullscreen></iframe>
video
play-sharp-fill
In Short:
– Trump and South Korea’s Lee finalised a trade deal requiring $350 billion in U.S. investments.
– Trump anticipates favourable talks with China to reduce tariffs and improve relations.

Donald Trump and South Korean President Lee Jae Myung finalised a contentious trade deal at a summit in South Korea on Wednesday. The U.S. President expressed optimism about an upcoming summit with China’s Xi Jinping.The agreement, unveiled in late July, stipulated that South Korea would make $350 billion in new investments in the U.S. to avoid significant tariffs on imports. However, negotiations on the investment structure had stalled.

Banner

Trump and Lee reached a compromise allowing Seoul to divide its $350 billion investment into $200 billion in cash, paid in $20 billion instalments. The remaining $150 billion will be allocated to shipbuilding investments.

Upon arrival from Tokyo, following a North Korea missile test, President Trump received an extravagant welcome in the historic city of Gyeongju, the venue for this year’s Asia-Pacific Economic Cooperation forum.

His discussions with Xi are scheduled for Thursday in Busan. Trump downplayed the North Korea missile test and focused on his meeting with Xi, the leader of the world’s second-largest economy.

“I think we’re going to have a very good outcome for our country and for the world,” Trump stated. He anticipates reducing U.S. tariffs on Chinese imports in exchange for China agreeing to control the export of fentanyl precursor chemicals. The Wall Street Journal reported that tariffs could be halved from the current 20%.

China’s foreign ministry indicated that the upcoming meeting would foster positive developments in U.S.-China relations.

Investment Structure


Download the Ticker app

Continue Reading

Trending Now