News about finance, currency, securities

 Gold and crude oil prices in the world hit a peak together Tensions in Ukraine dragged gold prices to a nine-month high, while Brent crude prices hit their highest since 2014. Closing the session on February 21, each ounce of world gold for immediate delivery increased by 4 USD to 1,903 USD. In the morning session, the gold price spiked to $1,915 right at the opening. This is the highest level since June 2021. Currently, each ounce trades around $1,907. Meanwhile, Brent crude oil this morning rose 4% to $97.35 a barrel this morning - the highest since September 2014. Currently, each barrel is trading around $97.19. US crude WTI rose 3.4% to $94.2 a barrel. The world gold price this morning skyrocketed. The world gold price this morning skyrocketed. Markets rose after Russian President Vladimir Putin recognized the independence of the separatist regions of Donetsk and Lugansk in eastern Ukraine, ordering the Russian military to send peacekeepers there. This increased tensions and i...

 Russian banks import 5 billion USD in foreign currency Observers say that Russian banks are preparing for the case that Western sanctions increase the demand for foreign currency. Russian credit rating agency ACRA estimates that the country's banks imported 5 billion USD in cash in December 2021, up from 2.65 billion USD in the same period a year earlier. The dollar is the most imported. Observers say the move is to prepare for the case that Western sanctions increase the demand for foreign currency. Many Russians want to hold foreign currency to prevent the ruble from depreciating or inflation accelerating. Sanctions can all cause these things. Valery Piven, senior director at ACRA, told Reuters that calculations based on documents that banks submit to the Central Bank of Russia each month show that they also imported $2.1 billion in foreign currency in November. 2021. Reuters quoted sources close to the US as saying that the US is considering imposing new sanctions on Russia. Th...

 Russia raises interest rates to 20% Russia nearly doubled interest rates, when the ruble today fell 40% against the US dollar. The Central Bank of Russia has just decided to nearly double the country's basic interest rate, from 9.5% to 20% as the country's currency fell to a record low against the USD. In a statement released today, the agency said the rate hike was "designed to offset the risks of devaluation of the ruble and inflation". Along with the move, it also said it would free up 733 billion rubles ($8.78 billion) in local bank reserves to increase liquidity. In this morning's trading session, the Russian local currency at one point traded at 117.75 rubles per dollar, down 40% from 83.75 last Friday, according to Bloomberg data. The reason is that last weekend, the US, its European allies and Canada agreed to cut a number of key Russian banks from SWIFT, a system that connects more than 11,000 banks and financial institutions in more than 200 countries a...

 24 blazing hours of global financial markets From Asia, Europe to the US, key financial markets were all in the red after Russia attacked Ukraine, but towards the end of the session, bottom-fishing cash flow became more and more active. Escalating tensions in Ukraine caused Wall Street to open the 24/2 session in the red. The strong selling pressure caused all key indexes to drop deeply. The S&P 500 fell 2.5% at the open, entering a correction zone. The index is down nearly 14% from the record close on January 3, as of the beginning of the session yesterday. The Dow Jones Industrial Average at one point fell more than 800 points, or 2.4%, and lost about 12% from the previous record. The Nasdaq Composite fell 2.5% early in the session, entering "bear market territory" after losing more than 20% from its November 2021 peak. Russia's move "is actually worse than our forecast and the whole market. We're talking about a 5% to 6% drop. This could send the market d...

 Oil price exceeds 100 USD - a double shock of the global economy Oil prices rose to $100 per barrel for the first time since 2014, raising concerns among analysts that it would be a blow to growth prospects and increase inflation risks. On the London exchange, the price of Brent crude rose 3.3% shortly after Russia's escalation in the Ukraine crisis, raising fears of disruption to the country's vital energy exports. area. The "black gold" then extended its rally to more than 8%, near $105 per barrel. While energy exporters may benefit from a boom in oil prices, economies may not be so lucky. Much of the world will be impacted as companies and consumers see their bills rise. This makes spending more tight. "The rise in oil prices will increase pressure on central banks around the world to implement a tighter cycle of tightening and rate hikes to curb inflation risks," said Chua Hak Bin, senior economist at the US Securities and Exchange Commission. of Mayban...

 Bank CEO gives half a million USD of stock to the maid The CEO of IDFC First Bank is giving away $530,000 worth of stock to drivers, coaches and home helpers. According to Bloomberg, the action of Vaidyanathan, CEO of IDFC First Bank is one of the unusual ways of philanthropy in India. According to the filing, Vaidyanathan, 54, has given away about 38% of his shares since January 2018, when he was head of loan company Capital First. This company was later merged with IDFC Bank to become IDFC First Bank. Share price movement of IDFC First Bank since this bank was consolidated. Photo: Bloomberg Share price movement of IDFC First Bank since this bank was consolidated. Photo: Bloomberg Along with giving away half a million USD worth of shares to the maid, Vaidyanathan also gave 900,000 shares, or 3.7% shares, to the private lending company. The recipients will use the money to buy a home. The value of the prize is based on the closing price of the most recent trading session. In 2020,...

 How Singapore became an international financial center From a poor country in the "third world", Singapore took 30 years to become a leading financial center and keep the momentum to this day. "Hey Mr. Van Oenen, we want Singapore to become the financial center of Southeast Asia in 10 years," Dr. Albert Winsemius, Economic Advisor to the Government of Singapore, said when he called his friend who is a deputy director of a branch of an American bank in Singapore. But Van Oenen, who is now in the UK, replied: "Okay, you go to London. You can develop it in five years". It was 1968. When he arrived in London, Dr. Winsemius was brought before a large globe by Van Oenen in the boardroom. Pointing at it, Van Oenen slowly explained. The world of finance begins in Zurich. Zurich banks open at 9 a.m., then Frankfurt, then London. In the afternoon Zurich closes, then Frankfurt, then London again. Meanwhile New York is open. Therefore, London transfers financial tran...

 Russian billionaires lost $ 32 billion because of the Ukraine crisis The stock market plunge makes the rich in Russia now own $ 343 billion, down from $ 375 billion at the end of last year. According to the Bloomberg Billionaires Index, Gennady Timchenko tops the list of asset declines in Russia, having lost nearly a third since the start of the year. The 69-year-old billionaire currently owns only 16 billion USD. Most of his wealth comes from his stake in Russian gas company Novatek. He is a longtime friend of Russian President Vladimir Putin. Russian billionaire Gennady Timchenko. Photo: Bloomberg Russian billionaire Gennady Timchenko. Photo: Bloomberg Leonid Mikhelson - another shareholder of Novatek also saw his fortune decrease by $ 6.2 billion since the beginning of the year. Lukoil Energy Chairman Vagit Alekperov lost $3.5 billion as the company's shares fell nearly 17%. In total, 23 Russian billionaires on the Bloomberg Billionaires Index list are now worth $343 billion, d...