Thread: Company News by ForexMart

ForexMart Cements New Partnership with HKM Zvolen

ForexMart has added a new industry giant in its growing list of partnerships with established sports companies: HKM Zvolen.

Hokejový Klub mesta Zvolen or HKM Zvolen for short is one of the most celebrated hockey teams in Slovakia. The professional hockey club has established a long rich history that can be traced back as early as 1927. The club has two Slovak league championship under its belt and the 2005 IIHF Continental Cup.

The partnership between ForexMart and HKM Zvolen has been an awaited collaboration with both companies enthusiastic for a prosperous relationship.

Executives of ForexMart expressed their optimism with the new partnership.

"Gaining a new partner in this business is a sign of enduring success for both parties. I am excited at the prospects of cooperation with HKM Zvolen because I see a future full of possibilities. We are ready to win not only in the hockey rink but also in business."- Savvas Patsalides, ForexMart CEO
"I've always believed that winning can only be achieved through hard work and solid teamwork, qualities that are the essence of both ForexMart and HKM Zvolen. We are proud of this partnership because just like them, we are in the business not only to win, but also to grow as a team with our clients."- Ildar Sharipov, ForexMart President

ForexMart and HKM Zvolen will launch collaborative projects that intend to promote both companies. ForexMart will also stand as sponsor of the hockey team with the HKM Zvolen players bearing the official ForexMart logo in their upcoming games.

ForexMart and HKM Zvolen awaits a bright future with this collaboration.


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The current Money Fall contest has already started on October 16, 2017 and will end on October 20, 2017.
You can register for the next competition which will take place from October 23, 2017 to October 27, 2017
Note:
Registration for the next competition finishes 1 hour before the contest starts.


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Japan’s LNG Infrastructure Offered to Asia

The government of Japan will disclose a public-private initiative amounting to $10 billion, its goal is to draw on the rapid expansion of liquefied natural gas infrastructure due to high consumption of fuel all through Asia.

The Nippon Export and Investment Insurance (NEXI) and Japan Bank for International Cooperation (JBIC) will serve as agents in engaging Japanese firms to investment plans aiming to establish LNG infrastructure as power plants and offloading terminals.

The minister of economy, trade and industry, Hiroshige Sekō, is scheduled to unveil the project in Wednesday during the LNG Producer-Consumer Conference. Leading officials such as the prime minister and cabinet members would likely be in the event, promoting relevant projects to different regions. Moreover, the plan is formed to improve the partnership between the United States and Japan. As shale gas production was withdrawn in the U.S which further caused an issue for finding buyers for the natural gas.

The arrangement between America and Asia to expand shale gas exports is anticipated to tackle at U.S.-Japan economic dialogue meeting on October 16 in Washington, hence the initiative is expected to achieve this goal.

The factor that confines growth of the LNG market is the agreements stating about the restricted reselling of fuel. Meanwhile, India and Japan are expected to sign an LNG cooperation on Wednesday making LNG supply contracts flexible.


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Italy’s Cabinet Approves National Budget for 2018

The Italian cabinet approved the 2018 government budget worth 20 billion euros ($23.6 billion) with added measures. The allocation is expected to proceed prior the Senate scheduled on October 20, 2017, as the approval from both chambers are required until the end of December based on the report from Xinhua. Moreover, it will be reassessed by the European Union (EU) Commission.

According to Prime Minister Paolo Gentiloni, the primary concern of the administration is to avoid the increase of value-added tax (VAT) and new taxes. A portion of the budget amounting to 15.7 billion euros ($ 18.4 billion) is needed in order to prevent the effect of safeguard clause for next year. This clause drives the government for VAT hikes along with some indirect taxes in case the expenditure assessment appeared to be low in terms of planned budgetary goals indicated in the EU rules.

The key indicator for the national budget is the 50 percent reduction of tax wedge in labour for three years towards companies that offered open-ended contracts for new workers 35 years old and below. It was also confirmed that companies that invest in new machinery have a fiscal break in 2018.

The allocation would finance the recruitment of 1,500 new researchers for Italian universities while the renewal of employment contract is approved for laborers under the public sector, by which had been suspended for nearly a decade.


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Significant Impact of Reversing Brexit on the UK Economy is Possible

According to the world’s leading economic think-tank, the reversing Brexit is expected to cause a positive and significant impact towards the British economy, issuing an extreme warning on the possible consequences of EU exit.

Based on the report that highlighted the weak economic growth of UK since the referendum last year, the Organisation for Economic Co-operation and Development (OECD) warned of the possible risks in establishing an essential trade deal with the European Union.

The UK economy has the tendency to hinder its progress by a disorganized Brexit, in case of a failure of Brussels negotiations. This could further push the sterling pound lower resulting in a failing credit rating in the UK. Also, it underlined the uncertainty of Britain to break up whenever Northern Ireland and Scotland consider again their fate in the EU due to Brexit.

José Ángel Gurría, the OECD secretary general, advised that increasing inflation triggered by the sluggish pound would likely stall investments and expenditure. While the government should not create new barriers within EU and UK.

On the other hand, Chancellor Philip Hammond persisted that actions from the government relative to the referendum provided necessary confidence for businesses.

At the same time, British Liberal Democrat Jo Swinson addressed that the report caused vindication to the call of her party regarding a new referendum that offers an “exit from Brexit.”
While according to Shadow Chancellor John McDonnell, the report depicted a “damning picture” about the economic management by the government coupled with the Brexit process.

Moreover, the most recent United Kingdom OECD Economic survey forecasted growth in the economy by 1% next year, this projection could get worse without free trade agreements. The EU exit exacerbates the demand to renew employment productivity growth, considering the statement from the OECD that it remained steady and failed to manage any meaningful contribution to British output since 2007. Hence, this is the weakest data outside South East England and Greater London.

The differences among regions and labourers could lead to a significant distinction between people with regards to profits and resources, work and income and skills and education.


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ForexMart's Forex Economic Calendar is a real-time, customizable, and multifunctional, forex tool that allows traders to be updated with the latest and most relevant market events. All information that could be potentially impact your trading will be listed and analyzed here.
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ECB’s Asset Reduction of €40B Starting This October

On October 26, the European Central Bank is scheduled to reduce their monthly asset purchases to 40 billion euros from 60 billion euros as reported from the poll of Reuters. The results were divided on whether it will last for six or nine months following the program.

The E.U. is undergoing the “best” momentum in growth for a decade yet, the inflation is kept at 1.5 percent and it is still lower than the target of ECB at almost 2 percent. The anticipated figure is hoped to be maintained until at least 2019.

The central bank is put under pressure by some members of the ECB’s Governing Council to send some signal with the intention to take it easy and put an end to their quantitative easing program since the general economic situation in the eurozone has already improved.

Moreover, a more impactful action of the ECB is putting a limit on the amount of debt which is about to be attained by the central bank despite more than two years of purchases worth greater than 2 trillion euros consisting mainly of government bonds. The set limit on the allowed debt is permitted in some countries. This implies that the central bank would not augment the guideline and does not have much of a choice but to trim its purchases and strive to oversee the objective as much as possible.

The chief economist of ING described the October meeting to be one of the “greatest balancing act” since. The ECB needs to cut its bond purchases as a solution to the shortage problem but at the same time, they have to maintain a loose inflation target. Moreover, he said that they have to make an effort in publishing the report and to prevent from the misconception of being overly hawkish which makes easing a problem in this stance.

A survey in a much larger stand including more than 100 economists last October 11 to 17 has indicated growth in comparison to the former polls. Although, it has been forecasted that the eurozone growth will be sluggish next year and keep the inflation forecasts the same or lowered.
A total of 45 economists mentioned as an additional question on its most recent poll saying that the ECB will push through the reduction program in the October meeting. The target amount of reduction for January is assumed to be at a bigger value ranging from 5 billion euros to 40 billion. The median was lessened up to 20 billion euros.
Forecasts

The predicted growth for the eurozone economy is 0.5 percent in the previous quarter similar to the present whilst there was 0.6 percent in the second quarter. Overall, the Average whole year growth was predicted to be at 2.2 percent for this year from 2.1 percent forecast in September.
On the other hand. the predicted inflation rate was an average of 1.5 percent for the year and 1.4 percent the year after which has been kept the same from the survey in the previous month.

As for the forecasts for big countries, they were all revised higher according to the most recent survey. The biggest economy in Europe, Germany, is anticipated to grow 2.1 percent this year and 1.9 percent the following year. This was revised up compared to the July poll estimates of 1.8 percent in 2017 and 1.7 percent and 2018. Moving to France, the prediction was also revised from the previous one with an average forecast of 1.7 percent until 2018. Nevertheless, this is still on the track of Macron’s government projections.


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Economic Calendar
Know what will happen next in the financial markets with ForexMart's Forex Economic Calendar.
ForexMart's Forex Economic Calendar is a real-time, customizable, and multifunctional, forex tool that allows traders to be updated with the latest and most relevant market events. All information that could be potentially impact your trading will be listed and analyzed here.
A trader that knows more, profits more. Use ForexMart's Forex Economic Calendar and become a better trader today.


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The current Money Fall contest has already started on October 23, 2017 and will end on October 27, 2017.


You can register for the next competition which will take place from October 30, 2017 to November 3, 2017


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



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Singapore’s CPI Rose in September

The consumer price index of Singapore is anticipated to increase in the month of September which is at a similar rate in August last year because of the rise in oil prices, as stated from the Reuters poll.

The all-items consumer price index is presumed to rise by 0.4 percent in September and kept unchanged from August based on the median forecast of some economists in the poll. Even if the labor market has greatly progressed, there are still some concerns which mean that there is no immediate demand for side-price pressure as mentioned by the ANZ. Other than that, they also noted that the core inflation pressure should remain relatively calm.

The poll stated that the core inflation of Monetary Authority of Singapore’s (MAS) has the tendency to rise by 1.4 percent in September 2016 which was kept the same for the month of August.

The core inflation of the central bank does not include the prices of the automobiles and bookings which are even more swayed by government policies.

Overall, the Singapore’s headline and core CPI climbed higher at a slower pace than anticipated because of low accommodation costs as it declined by 3.9 percent since last year.


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