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Operating profit at Norway's largest utility Statkraft rose to 23.7 billion Norwegian crowns ($2.28 billion) in the four...
02/03/2023

Operating profit at Norway's largest utility Statkraft rose to 23.7 billion Norwegian crowns ($2.28 billion) in the fourth quarter, as high power prices and a profitable trading business offset lower production, the company said on Thursday.

Statkraft's underlying earnings before interest and tax (EBIT) rose from 9.3 billion Norwegian crowns a year ago, while net profit increased to 14.5 billion crowns from 3.9 billion crowns.

Clariant said on Thursday it expects annual sales to slightly decline in 2023 after reporting sales for the full year fa...
02/03/2023

Clariant said on Thursday it expects annual sales to slightly decline in 2023 after reporting sales for the full year fairly in line with expectations, driven by catalyst chemicals.

The company, whose chemicals are used in personal and home care products, said it expects 2023 sales of around 5 billion Swiss francs ($5.30 billion), down from 5.198 billion a year earlier.

Peru's government announced on Tuesday the launch of more than 30 public-private projects worth nearly $9 billion, hopin...
01/03/2023

Peru's government announced on Tuesday the launch of more than 30 public-private projects worth nearly $9 billion, hoping to revive the economy hit by violent anti-government protests.

The projects, involving road infrastructure, energy and sanitation, are set to begin between this year and 2024, according to the head of the state's agency for investment promotion Jose Salardi, speaking at an event with investors.

New Zealand house prices are set to fall further this year than previously thought, according to a Reuters poll of prope...
01/03/2023

New Zealand house prices are set to fall further this year than previously thought, according to a Reuters poll of property analysts who forecast a peak-to-trough slump of over 20% as the central bank continues to hike interest rates aggressively.

Average house prices peaked in November 2021, having risen more than 40% in just two years during the worst of the COVID-19 pandemic, as home buyers took advantage of near-zero interest rates, making New Zealand one of the least affordable markets among developed nations.

German consumer sentiment is set to improve for a fifth consecutive month in March as energy prices fall, a GfK institut...
24/02/2023

German consumer sentiment is set to improve for a fifth consecutive month in March as energy prices fall, a GfK institute survey showed on Friday.

The institute forecast its consumer sentiment index to improve to -30.5 heading into March, up from a revised reading of -33.8 in February, but slightly weaker than an average forecast of -30.4 in a Reuters poll of analysts.

A raft of U.S. data and European inflation numbers will give guidance on how the world's top central banks will navigate...
24/02/2023

A raft of U.S. data and European inflation numbers will give guidance on how the world's top central banks will navigate the way ahead - including whether we're heading for that hotly debated "no landing" scenario.

China's post Lunar New Year business activity data will give a reading of the health of the world's number-two economy whilst Nigerians head to the polls in the first of this year's key emerging market elections.

China’s yuan fell 0.2%, coming under renewed pressure as the People’s Bank held its key mortgage interest rates at histo...
21/02/2023

China’s yuan fell 0.2%, coming under renewed pressure as the People’s Bank held its key mortgage interest rates at historical lows. A recent rally in the currency ran out of steam as markets grew uncertain over the timing of a post-COVID economic recovery in the country.

The New Zealand dollar fell 0.2% amid uncertainty over a central bank meeting on Wednesday. The bank is widely expected to hike interest rates by 50 basis points as it moves to contain runaway inflation.

The main focus during this session will be on the flash PMI data from the Eurozone and the U.K., which are likely to off...
21/02/2023

The main focus during this session will be on the flash PMI data from the Eurozone and the U.K., which are likely to offer investors a guide to the prevailing direction of economic trends in the manufacturing and service sectors.

These numbers will be carefully studied, as they will show how well the Eurozone economy, in particular, is performing after unexpectedly growing in the final quarter of 2022.

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