Thread: Company News by ForexMart

Peruvian Economy Beef Up Reaching 4.81% Growth

In January 2017, the economy of Peru rose up to 4.81% which indicates the progressive the country’s growth for 90 months. The surge was supported by the excellent performance from the primary sectors, particularly fisheries and mining based from the National Institute of Statistics and Informatics (INEI) report released on Wednesday.

Head of INEI, Anibal Sanchez have said that the GDP of Peru gained 4% for the past 12 months from the months of February 2016 until January 2017.

During the first month of the year, the hydrocarbons and mining industry grew by 14.75%, at the same time the fishing activity boosted by 42.17%.

The economic development exceeded analysts estimates of 4.5% based on the Reuters poll. The upbeat figures were underpinned by the growth in foreign demand which proves 8.09% increased for total exports.

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Canada’s Morneau to promote Canadian Economy in US

Canadian Federal Finance Minister, Bill Morneau is preparing for disclosing the details regarding his second budget scheduled next Wednesday, March 22nd. The budget is tabled in the House of Commons by which senators and members of the parliaments from Canada are expected to attend the 3-day meeting in the US. The meeting will also be attended by more than 70 lawmakers from the United States with the purpose of boosting economic interest of Canada.

According to Wayne Easter, a member of the Liberal party and head of Canada-United States Interparliamentary group said that the trip is intended for discussing the plan for the two economies and not primarily for the budget date.

The 67-year old Easter also stated that they were able to make some progress, however, there are other relevant issues that deal with challenges.

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Germany and Japan Promotes Free Trade Deal

German Chancellor Angela Merkel and Japan’s Prime Minister Shinzo Abe discussed free trade between countries on Sunday’s major technology fair. Both representatives would like to aim for a faster pace regarding this matter and wanted to have an agreement in this year while G20 finance ministers and central banks commented an open trade during their two-day conference in Germany. The issue of Protectionism was avoided by both leaders in the beginning of the CeBIT technology fair, implying that people are currently more open with regards to free trade and open borders with giving importance to democratic values.

The current Money Fall contest has already started on March 20, 2017 and will end on March 24, 2017.

You can register for the next competition which will take place from March 27, 2017 to March 31, 2017

Note:
Registration for the next competition finishes 1 hour before the contest starts.

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Denmark Repayment of Debt After 183 Years

The Scandinavian country, Denmark is scheduled to pay off its latest foreign currency loans with an amount of $1.5bn at the present moment. Freeing the nation from any debt obligations regarding FX which will happen for the first time in 183 years.

Based on the records of the Danish central bank, the government almost paid the loan back in the year 1894, that was the time when the total of FX debt was lower than 1 percent of the GDP.

Denmark had its first foreign debt during 1757 with a half a million worth of rigsdaler issued by Netherlands and Germany. Moreover, the external debt owed by the country expanded in order to finance 19th-century wars. Despite the repayment, the sovereign state is not fully clear from debt, except for all krone-denominated concerns.

The debt-to-GDP ratio of the state as a whole is considered one of the least among the list of major economies in the European region, accumulated 38 percent and projected to drop about 36 percent for next year announced by the European Commission.

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Launch of “Analytical Reviews” Section

Dear clients!
We are glad to inform you about the launch of “Analytical Reviews” section on our website. Since then you won’t have to look for financial analytics on third-party resources – you just need to visit the relevant section on the ForexMart website.
In this new analytical section it will be possible to find up-to-date information about popular currency pairs, trade ideas and recommendations, as well as analytical reviews, forecasts, charts and overall description of the current market situation.
We hope that this innovation makes your trade more convenient and pleasant. Stay tuned and remain abreast of the latest economic trends with ForexMart!

South Korea’s Economic Expansion Remained Slow Amid Recovery in the Global Market

In spite of signs of improvement in the global economy, Yongmaan Park, Korea Chamber of Commerce & Industry (KCCI), affirmed that South Korea still lack momentum for the early recovery. The KCCI chairman announced this in a National Assembly with the four of the main South Korean political parties held in Seoul.

It became evident that the country is continuously suffering from a growth failure with the Bank of Korea based on the forecast of economic development at 2.5 percent for the current year, including an increase in jobless rate, high household debts and the penalties imposed by China with regards to missile row.

Moreover, Park also mentioned that they are currently sustaining a growth rate with a range of two percent.

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Slew of Scandal Involvements Prompts Samsung to Apologize to its Investors

Tech giant Samsung Electronics Co. issued an apology last Friday following the firm’s involvement in several national scandals that eventually led to the impeachment and eventual ouster of former South Korean president Park Geun-hye as well as the infamous recall of the company’s flagship smartphone, the Samsung Galaxy Note 7. In addition to the said apology, Samsung has also promised to improve its internal governance amid pressure from its investors. Samsung Vice Chairman Kwon Oh-hyun delivered the said apology during its annual shareholders’ meeting. Samsung heir Jay Lee was not present at the said meeting as he is currently facing several bribery and embezzlement charges.

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ForexMart App is Now Available on Mobile

You can now use the ForexMart application on mobile.

We are launching ForexMart application on 11 january. It can be downloaded from both App store for Apple and Play Store for Android users. This allows users to trade anytime and anywhere at their own convenience by just connecting to an Internet service provider.

More and more consumers are shifting toward mobile platforms with continuous improvement in technology. Forex trading apps simplifies trading and allows accessibility through mobile phone that makes it more convenient. There is still wide range of options in placing orders from mobile devices such as iPhone or Android.

ForexMart app offers different features. Traders can access multiple charts that give real-time quotes as well as relevant economic news and latest forex analysis. Exchange rates over 100 different currencies are also available with buy and sell options. The application is especially designed for forex trading that is easy to navigate and works glitch-free for more efficient trading.

Forex traders will find this app very useful and handy. Check out this new app from your App Store or Play Store!

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Nigeria and Norway Seek Opportunities to Non-oil Sector investments

Stakeholders from Nigeria and Norway looked for opportunities outside to increase direct foreign investments from the non-oil sector to uplift its economy and improve bilateral ties. The Nigerian Export Promotion Council (NEPC) assumed possible earnings as much as $18 billion by 2019 if properly executed.

The Nigerian-Norwegian Chamber of Commerce (NNCC) was established to promote trade and investment to lessen the barrier and limit transaction risks between countries.

Norway has an advanced industrial sector while Nigeria presents opportunities with high capital, agricultural sector, infrastructure, vast mineral resources and value added manufacturing. They complement each other moving towards the same goal of economic diversification from the conventional growth driver which is the energy sector.