UK PMI surveys point to stagnant economy at start of third quarter

All sector PMI rises to 50.3 but signals zero GDP growth after second quarter decline Modest service sector expansion masks steep falls in manufacturing and construction Business optimism slips lower Further job gains bode ill for productivity The PMI surveys indicated that the UK economy stagnated in July, steadying after a contraction in June, but still signalling one of the ...

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Crude Oil Trade: Saudi Arabia focusing on Chinese demand

It came as no surprise that Saudi Arabia’s oil revenue declined 5% year-on-year, as the OPEC+ production cut agreement has been shaping the country’s crude oil output. But meanwhile, officials have been increasing capital spending to support the struggling working classes and stimulate the sluggish domestic economy. This resulted in the budget deficit widening further, after reaching USD 8.9 billion ...

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Non-damage business interruption

Terrorism activity has changed, with attacks typically causing no or little property damage but inflicting significant losses to civilians and businesses. In the aftermath of these incidents, small-and-medium sized businesses have suffered significant financial losses, either because the authorities have denied access to their premises or because customers visit less frequency due to the perception of risk associated with the ...

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Security in Kashmir

On 5 August, India’s Home Minister Amit Shah introduced four bills in parliament’s upper house regarding Jammu and Kashmir (J&K) state, including legislation to abrogate Articles 35A and 370 of the Indian Constitution – which grant special autonomy to Indian Kashmir – and a bill to bifurcate the state, establishing it as a union territory. On 4 August, the Indian ...

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Sustainability’s impact on the global soda ash market

The recent history of the soda ash market has been turbulent, with the market balance and prices across the world’s major soda ash producing and consuming regions being buffeted by a number of factors. One factor, which is beginning to have more of an impact on the soda ash market, is sustainability, and it is expected that its impact will ...

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iBoxx TRS Comes of Age

When the iBoxx TRS market first started in 2012 only three market makers were making markets. Today there are ten active iBoxx TRS market makers providing liquidity and pricing, and in June 2019, the iBoxx TRS monthly traded notional volumes hit a new all-time high of $23.9 billion.  Background IHS Markit’s iBoxx Standardized Total Return Swaps provide quick exposure on an unfunded ...

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Is chemical recycling a game changer?

Chemical or feedstock recycling is being touted as a game changer that can transform recycling. With chemical recycling, innovative technologies – such as pyrolysis, gasification, chemical depolymerization, catalytic cracking and reforming, and hydrogenation – convert plastic waste into chemicals. These technologies produce feedstocks such as monomers, oligomers, and higher hydrocarbons that can in turn be used to make virgin polymers. ...

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PMI survey comments show mounting global pessimism

Global PMI Future Output Index at survey-record low… …as economic, political and trade worries intensify No-deal Brexit risk and trade war developments add to concerns Anecdotal evidence from global survey panellists shows that the worldwide outlook is becoming increasingly gloomy. Long-running trends such as trade wars and political tensions continue to dampen businesses’ forecasts, while new tensions in Asia add ...

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