Libya’s vital oil and gas exports hit a 5-year high of $21.5 billion in 2021, driven by a boom in prices around the world, the North African country’s National Oil Corporation (NOC) announced. Total net revenues for oil and gas exports last year stood at $21.5 billion as well as 30 million euros in non-dollar sales, the state-owned company said in a
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The world’s largest oilseed consumer, China, hopes to boost domestic soybean output by 40% over the next four years, in an attempt to boost self-sufficiency in the commodity, Reuters reported. The nation has set a goal to increase soybean production to 23 million tonnes by 2025, from 16.4 million tonnes in 2021, according to the Ministry of Agriculture and Rural Affairs (MARA)
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Argentina is set for an increase in issues of corporate bonds linked to Badlar, a reference rate for fixed-term bank deposits, after the central bank hiked its benchmark Leliq interest rate for the first time since November 2020, to slow down inflation and protect the currency. The Board of the Central Bank of the Argentine Republic (BCRA) on Thursday (Jan. 6) raised
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Malaysia’s palm oil industry recorded multi-year lows for output, stock levels, exports in 2021.Palm oil is a key driver of the Southeast Asian country’s agriculture and agro-based sectors. Covid-related restrictions created a shortage of much-needed foreign workers on palm oil plantations that lowered supply by 5% from 2020 to 18 million tonnes, the lowest after the La Niña weather pattern -which tends
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European stocks closed lower on Friday (Jan. 7) after data showed annual inflation in the Eurozone hit an all-time high of 5% in December. Germany’s DAX fell, 0.65% while France’s CAC 40 dropped 0.42%. The pan-European Stoxx 600 ended down 0.47%, with most sectors in negative territory. The biggest drag were travel and leisure stocks. The UK bucked the trend with London’s
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After a sparkling year, when not even dramatic inflation data was able to dampen the animal spirits, investors are putting on a show of wariness for 2022. Analysts and economists are arguing that markets face multiple headwinds and the rip-roaring rallies powered by the re-openings of the economies are history. The biggest uncertainty of 2022 is surging inflation and together with higher
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Oil slipped below $78 a barrel on Monday (Jan. 3) as investors awaited the meeting of OPEC and its allies. Brent crude, the international benchmark, was down 42 cents, or 0.5%, to $77.36 a barrel at 1402 GMT, having earlier risen as high as $79.05. U.S. West Texas Intermediate (WTI) crude slipped 52 cents or 0.7%, to go for $74.69. According to
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