The Trans-Pacific Partnership (TPP) was signed by ministers from its 12 member nationsin New Zealand on Thursday. It will take effect after lawmakers from each of these countries ratify it. It looks like it will only be a matter of time before the process is complete.US President Barack Obama said in a statement that the TPP "would give the United States an advantage over other leading economies, namely China." He also noted that the"TPP allows America - and not countries like China - to write the rules of the road in the21st Century, which is especially important in a region as...
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2016
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The Trans Pacific Partnership, one of the biggest multinational trade deals ever, has been signed by ministers from its 12 member nations in New Zealand.The ceremony in Auckland brings the huge trade pact, which has been five years in the making, another step towards to becoming a reality. But the TPP continues to face opposition. The 12 nations account for some 40% of the world’s economy - they now have two years to ratify or reject the pact. Australia’s minister for trade Andrew Robb was the first to sign the pact. Those attending the ceremony cheered as his counterpart, New Zealand trade mi...
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2016
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Geopolitics and geoeconomics are pounding down on the oil market, and the price seems to have no place to hide.The latest barrage comes this week from the re-entry of sanctioned Iranian oil to the world market, triggered by Tehran’s compliance with the nuclear agreement. The lifting of sanctions, originally expected to happen in March or April, was sped up to bolster support for President Rouhani in Iran’s upcoming parliamentary elections. As a result, the returning oil will arrive in an already glutted market at a time of maximum seasonal weakness — and when geoeconomic pressures are mounting...
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2016
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In a surprise move, the Bank of Japan has decided to introduce an interest rate of minus 0.1 percent.The move affects current accounts held by financial institutions at the central bank, which previously offered a miniscule +0.1 percent on deposits.The central bankers, after their 5-4 vote Friday, issued a statement warning of deeper interest rate cuts into negative territory “if judged as necessary.”Negative interest rates – something that sounds counterintuitive – means that financial institutions, instead of receiving money for their deposits, must pay to keep their money at the central ban...
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2016
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CSRC assurance has helped soothe investor concerns, say analystsRisks associated with margin trading that allow investors to borrow money for stock purchases are well under control, the capital market regulator said on Friday, soothing investors’ nerves after the A-share market suffered its biggest monthly loss in nearly eight years.The benchmark Shanghai Composite Index gained 3.09 percent to close at 2,737.6 pointson Friday. Despite the rebound, the index suffered a monthly loss of 22.65percent, the biggest since 2008.Zhang Xiaojun, spokesman for the China Securities Regulatory Commission to...
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2016
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