Commodities have the strongest outlook of any asset class in 2023, with a perfect macroeconomic environment and critically low inventories for almost every key raw material, according to the head of commodities research at Goldman Sachs Group Inc.
Bank of England Governor Andrew Bailey warned that China’s sudden lifting of Covid restrictions, the continuing fallout of the war in Ukraine and the shrinking of Britain’s labor force are high on the list of dangers facing the UK economy and inflation outlook.
Egypt saw more than $925 million in foreign-exchange inflows since Jan. 11, the central bank said, spotlighting what it called a series of “positive indicators” in the wake of the North African nation’s third devaluation in a year.
Canadian home prices fell by the most on record in 2022, as rapidly rising interest rates forced a market adjustment that may have further to go.
(Bloomberg) — The European Union must provide tax credits in addition to subsidies as it looks to shake up industry policy to counter competition from China and the impact of a major US climate law, French Finance Minister Bruno Le Maire said.
MTN Group Ltd., Africa’s largest wireless carrier, plans to start a dispute resolution process if talks with Ghanaian authorities over a surprise $773 million back-tax bill it received last week fail.
Bank of England Governor Andrew Bailey said the risk premium on UK assets since September is “pretty much gone” but that confidence remains fragile.
Vanguard Group, which quit the world’s biggest climate-finance alliance in December, was the only major ETF provider to post an increase in European assets last year thanks to its lower exposure to environmental, social and governance strategies, according to Morningstar Inc.
(Bloomberg) — Germany’s largest grid operator says that the costs of managing the country’s power network likely jumped to a new record of nearly €3.5 ($3.8) billion in 2022.
The fatal air crash in Nepal on Sunday adds to the Himalayan country’s reputation as the most dangerous place to fly on the planet.
