Finance News

SLB Under Pressure to Exit Russia as Biden Administration Expands Sanctions on U.S. Oil Industry

U.S. Lawmakers Pressure SLB (Schlumberger) to Leave Russia Amid New Sanctions RISING PRESSURE ON SLB DUE TO U.S. SANCTIONS Following the Biden administration’s imposition of comprehensive sanctions on Russia’s oil industry, U.S. lawmakers, including Lloyd Doggett and Jake Auchincloss, have urged SLB (Schlumberger) to cease operations in Russia. The sanctions, effective from February 27, prohibit […]

Bond Vigilantes Target the UK Economy

The UK economy is currently grappling with a significant confidence crisis, which has now extended from businesses to financial markets. Recent sell-offs in gilts and a weakened pound reflect mounting concerns over the nation’s fiscal sustainability. With ten-year government bond yields nearing a 16-year high, Chancellor Rachel Reeves’ “ironclad” fiscal rule—to balance the current budget […]

Ugandan shilling little-changed, slight pressure from manufacturing sector

On January 13, 2025, the Ugandan shilling remained stable against the U.S. dollar, with only slight pressure on the local currency. This pressure came from the demand for foreign currency in the manufacturing sector. At 09:22 GMT, commercial banks quoted the shilling at 3,694/3,704, showing a slight change from the previous closing rate of 3,692/3,702. […]

South African Rand Remains Near 9-Month Low Amid Strong Dollar

On January 13, 2025, the South African rand continued to struggle near a nine-month low against a strong U.S. dollar. The currency’s downturn is partly due to the uncertain outlook regarding further interest rate cuts by the Federal Reserve, which has significantly impacted emerging market currencies like the rand. As the dollar maintains its bullish […]

Governor of China’s Central Bank Commits to Ensuring Ample Liquidity

In a strategic move to stimulate the economy amidst global challenges, China’s central bank is doubling down on a moderately loose monetary policy. Pan Gongsheng, the governor of the People’s Bank of China (PBOC), outlined the central bank’s commitment to ensuring sufficient liquidity in the market as part of broader efforts to boost the world’s […]

Rising Dollar Exerts Pressure on Global Currencies Amid Uncertainty Over Future Fed Rate Cuts

On January 13, 2025, the U.S. dollar saw a significant surge, reaching its highest level in over two years following the release of an unexpectedly strong U.S. jobs report. This impressive data highlighted the ongoing strength of the U.S. economy, which in turn sent the greenback soaring and pushed other major currencies to multi-year lows. […]