Moscow, September 9 “News. Economy.” The UK will continue to struggle between the Parliament and the Prime Minister, and the European Central Bank will hold one of the most important meetings during the presidency of Mario Draghi. In Russia’s leading bankers will discuss a sore spot in Sochi, and the Ministry of Finance will bring together leading business representatives in Moscow.
Below we will tell about the main events of the upcoming week.
Monday, September 9, the British Parliament may be suspended; a bill blocking Brexit without a deal, can become a law
As previously wrote News. The economy, the exit from the European Union without an agreement does not mean for UK full and final break with Brussels: it will lead to a long period of serious uncertainty and painful negotiations between London and the EU, predict the authors of a new study about Brexit.
New border checks and customs duties suddenly slow down about half of British exports. More likely to suffer the automotive and industrial sectors because of delays at the border.
World energy Congress opens in Abu Dhabi
The main theme of the forum 2019 — “Energy for prosperity”. Congress in Abu Dhabi will bring together the leading world energy leaders, government representatives, business and academics to discuss the most important trends in the industry.
It is expected that the forum will bring together 250 speakers, 4 thousand delegates, 500 CEOs, more than 50 Ministers, and the total number of visitors will reach 15 thousand people.
The meeting of trade Ministers of member countries of the Association of South-East Asia
The Association of South-East Asia — political, economic and cultural regional intergovernmental organization of 10 countries located in Southeast Asia.
Directly forming were Indonesia, Malaysia, Singapore, Thailand and the Philippines. Later joined by Brunei Darussalam, Vietnam, Laos and Myanmar, Cambodia.
Tuesday, September 10 presentation of the new iPhones from Apple Inc.
At its annual presentation on 10 September Apple like a year ago, will show three new iPhone: the basic model version with a larger display and the unit is cheaper (in 2018 it was called iPhone XR). How will called the new device is still unknown.
Wednesday, September 11 Monthly review of the oil market from OPEC
As previously wrote News. Economy of countries-participants of agreements on the reduction of oil production (OPEC+) predict a significant decline in oil reserves in the world in the second half of 2019 due to the impact of the deal, said the Ministerial monitoring Committee (JMMC) OPEC+.
The Committee also noted that OPEC+ executed the agreement to reduce oil production in July by 159%, while in June the transaction was completed by 137%.
Thursday, September 12, Rate statement and press conference Draghi
The ECB is broadly expected decrease of the Deposit rate to minus 0.5%, but the beginning of a new program of quantitative easing under question because of the opposition of regulators of France, Germany and Holland.
However, over 80% of Bloomberg economists expect that Draghi will overcome differences and will announce the resumption of bond buying.
The Turkish President, in turn, sent a signal to the Central Bank for further easing in the meeting on monetary policy on Thursday after the rate cut in July on 425 basis points.
OPEC meeting+ in the framework of the world economic Congress
How to write “News. Economy”, OPEC oil production has reached an eight-year low in July, as the situation was affected by production cuts by the largest exporter Saudi Arabia, US sanctions against Iran and outages in other parts of the organization.
The survey showed that Saudi Arabia continued to lower oil production more than the level that was agreed between the parties to the transaction OPEC+.
17-th international banking forum “Banks of Russia — XXI century” in Sochi
Bankers dispute with the authorities about whether we can continue to increase the debt burden of the population, or it is fraught with crisis, will continue in Sochi, where on Wednesday will open the first autumn banking forum.
Chairman of the Central Bank Elvira Nabiullina will arrive on Friday morning to take part in discussions about the role of banks in economic growth with OPENROWSET her recently economy Minister Maxim Oreshkin.
Opportunities for advanced development will also be discussed at the Moscow financial forum held by the Ministry of Finance.
Moscow financial forum 2019
Moscow financial forum is a unique platform for professional discussions on issues of financial and economic policy of Russia. The forum’s mission is to develop solutions that improve the competitiveness of the Russian economy.
In 2018, the forum brought together representatives of Federal and regional authorities, business, professional and scientific community, public organizations and associations, and experts in the field of Economics and Finance at the international level.
Monthly review of the oil market from the IEA
As previously wrote News. Economy, the International energy Agency (IEA) lowered the forecast of growth in global oil demand for this year and next amid growing signs of a global economic slowdown and the escalation of trade conflict between the US and China.
Now the Agency foresees a growth in oil demand by 1.1 million barrels a day in 2019 and by 1.3 million b/d in 2020 Forecasts reduced by 100 thousand b/d and 50 thousand b/d respectively.
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