Saudi Arabia plans again to bring down the price of oil

In early July, The Wall Street Journal published an important news: Saudi Arabia has threatened a new price war in the oil market. Supposedly, this force the countries-participants of the OPEC agreement, which took on obligations to reduce production, but do not perform them. According to the newspaper, Saudi Prince Abdel Aziz bin Salman al Saud has issued an ultimatum to Angola and Nigeria, demanding their leadership to announce a clear plan to reduce production.…

"Saudi Arabia plans again to bring down the price of oil"

80 million tenge daily income of microcredit organizations

as of 1 April the volume of loans provided by microfinance institutions (MFIs) amounted to 316,1 billion tenge. In January-March, their volume increased by 22.7 billion tenge. In General, for all the time that the national Bank publishes data on the activities of MFIs of the Republic (since 2014), have never been observed quarterly decrease. That is the demand for microcredits in the Republic is growing continuously for over 6 years In General over the…

"80 million tenge daily income of microcredit organizations"

The move of the national Bank in capital: premiums have increased, employees have reduced

As follows from the annual report of the national Bank, number of the personnel of the Central office to the end of 2019 rose significantly by 6.7% to 1 287, subsidiaries – 1.4% to 1 300 people, and its controlled organizations – 5.8% to 1 027 people In General, the system of the Central Bank the total number of staff across the state rose 4.5% to 3 614 people. List the number of employees of…

"The move of the national Bank in capital: premiums have increased, employees have reduced"

What will happen to tenge in the second quarantine? the economists

As for tenge exchange rate, I believe, and it is now artificially supported. And even when I see a negative scenario for its weakening The second factor contributing to this high base rate. In Kazakhstan it amounts to 9.5%. But in Russia — 4,5%. Sooner or later, we may be forced to reduce the base rate. Otherwise our business will suffer losses due to expensive loans. Arman Baiganov, source: TV channel “Khabar” Many are not…

"What will happen to tenge in the second quarantine? the economists"

Interest rates on deposits decreased for the fourth consecutive month

Kazakhstan Deposit insurance Fund (KDIF) has approved the maximum recommended rate on deposits in tenge in August 2020. In short: the interest in almost all types will fall. And significantly – from 0.4 percentage points to 1.3 p. p. And it will happen for the fourth time in a row. One of the reasons is the change in methodology for determining the maximum threshold. Now the upper limit on all deposits depend on the level…

"Interest rates on deposits decreased for the fourth consecutive month"

A tax increase is appropriate in a growing economy not in crisis — analyst

once out of the capital began to hear the first bells of the coming increase in taxes in the business environment of the murmur. News about the planned twice a year to increase excise taxes on gasoline also did not remain without reaction On the one hand, the budget during the crisis in the oil market and the quarantine was badly battered. But on the other, these force majeure on their knees too many sectors…

"A tax increase is appropriate in a growing economy not in crisis — analyst"

China appears superpooper oil. What that means to the world market?

Chinese oil companies together to reduce the cost of purchased oil. According to Bloomberg, the talks on forming groups for joint purchases of oil abroad is led by several state-owned companies. Among them are giants of the industry such as Sinopec, Sinochem, PetroChina and CNOOC. One of the reasons for the formation of the Union – the rise in prices for raw materials on the spot market. It occurred after China’s economy began to recover…

"China appears superpooper oil. What that means to the world market?"

Will China solve the problem of unemployment by reviving street trading?

The idea to release to the streets millions of street vendors began to gain popularity in may. The Prime Minister of China Li Keqiang is the second most important official after the President, XI Jinping, praised Chengdu for overnight creation of 100 thousand jobs at the expense of tens of thousands of street stalls. They usually sell food, fresh vegetables, clothes and toys. Lee called it “old, but simple solution to the looming crisis in…

"Will China solve the problem of unemployment by reviving street trading?"

Features quarantine in Kazakhstan, payment cards have become more popular than cash

the Volume of cashless card payments in may amounted to 2 trillion 364,1 billion tenge. And this is a new historical maximum. Compared with April, the volume of payments increased by a third, or 600,4 billion tenge. In annual terms, the growth is more significant: in may 2019 Bank transfer was paid 927,6 billion, which is 2.5 times less than now. It should be noted that the sharp increase in payments occurred after the slump…

"Features quarantine in Kazakhstan, payment cards have become more popular than cash"

The railway revenue from passenger traffic fell by half. KTZ is sinking?

Despite quarantine restrictions affecting the operation of businesses and outlets throughout Kazakhstan, as well as the reduction of foreign trade turnover of Kazakhstan railway transport increased. According to the statistics Committee, in January-may 2020 in the Republic on railway tracks were carried 118,8 billion t*km In comparison with the same period in 2019, the volume increased by 3.4%. The total volume of freight by all modes of transport at the end of 5 months made…

"The railway revenue from passenger traffic fell by half. KTZ is sinking?"