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Economy
Israel central bank chief says loose budget will help economic recovery
Bank of Israel Governor Amir Yaron said on Wednesday he supports an expansionary 2020-21 budget to help the economy recover from the coronavirus pandemic, which has forced businesses to close and unemployment to jump.
“As long as the…
Oil steady as economic worries offset signs of firmer demand
Oil prices held steady on Wednesday despite signs of improving demand and a drawdown in U.S. crude inventories, as worries over the economic fallout from the coronavirus pandemic capped gains.
Brent crude futures for July delivery LCoc1…
Oil steady on signs of output cuts but demand concerns weigh
Oil prices were steady on Tuesday amid signs that producers are cutting output as promised while traders awaited more clarity on the demand picture as some countries ease out of lockdowns.
Benchmark Brent crude was unchanged from its…
France, Germany propose 500 billion euro EU Recovery Fund
France and Germany proposed on Monday a 500 billion euro ($543 billion) Recovery Fund that would offer grants to European Union regions and sectors hit hardest by the coronavirus pandemic, pushing up the euro and bringing down Italian bond…
U.S. oil tops $30 as restrictions ease
Oil prices climbed by more than $1 a barrel on Monday, with benchmark Brent hitting a one-month high and U.S. crude topping $30 supported by optimism about the re-opening of economies and output cuts by major producers.
Brent crude LCOc1…
Germany mulls 57 billion euros emergency aid for virus-hit municipalities
German Finance Minister Olaf Scholz is working on an aid package worth 57 billion euros ($61.65 billion) to help municipalities cope with a plunge in tax revenues caused by the coronavirus crisis, a finance ministry document showed on…
Oil prices jump as demand shows signs of picking up
Oil prices rose on Friday, with U.S. crude jumping more than 6% to its highest since March on signs that demand was picking up, with China reporting increased refinery runs and rounding out a week of bullish news on the supply front.…
Oil falls as fears of second coronavirus wave take hold
Oil prices fell on Wednesday as potential OPEC+ plans to deepen supply cuts were overshadowed by demand concerns exacerbated by a possible second wave of coronavirus infections as countries ease lockdowns.
Brent crude LCOc1 dropped 56…
IMF chief says growth forecast cuts ‘very likely’ as coronavirus hits economies hard
International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday it was “very likely” the Fund would cut global growth forecasts further as the coronavirus pandemic was hitting many economies harder than previously…
Russian and U.S. energy ministers discuss measures to stabilise oil markets
Russian Energy Minister Alexander Novak and U.S. Energy Secretary Dan Brouillette discussed measures to stabilise oil markets during a phone call on Tuesday, the Russian energy ministry said in a statement.
“The current state and…