Slowdown without recession? Inflation at its peak or not yet? On Saturday morning, all the great unknowns of the moment will be answered by the Hands of the economy on FIRSTonline, the monthly analysis column of the economic situation with an eye on structural changes by Fabrizio Galimberti and…
From 22 to 23 October Cambi Casa d'Aste in its Genoa office will exhibit and auction over 1000 lots divided into the catalogs of Antiques, Collectible Silver and XNUMXth Century Collectible Silver.
The economic forecasts for the two-year period 2018-19 estimate an average growth of +3,0% (Argentina) and +2,7% (Brazil), however what weighs - in addition to the political unknowns - are always the budget deficit (expected at - 6,0%) and public debt. Not forgetting the risk of import duties from the current US administration - VIDEO.
Cambi Casa d'Aste is preparing and dedicating two auctions to design, the first on 15 and 16 May and the second two at Fine Design in June. Catalogs with interesting proposals, such as the Alex chaise longue from Atelier Mendini proposed…
Cambi's next auction of Modern and Contemporary Art will take place on 8 May next in the brand new headquarters in via San Marco 22, in Milan. The numerous lots in the catalog will be exhibited from Friday 4 to Monday 7 May. In two rounds,…
The reference commercial interest rates applicable to 14 December 2017 included have been published on the MiSE website.
The reference commercial interest rates applicable to and including 14 November 2017 have been published on the MiSE website.
The reference commercial interest rates applicable to 14 October 2017 included have been published on the MiSE website.
The reference commercial interest rates applicable to 14 September 2017 included have been published on the MiSE website.
The reference commercial interest rates applicable to and including 14 August 2017 have been published on the MiSE website.
The reference commercial interest rates applicable to and including 14 July 2017 have been published on the MiSE website.
Between Tuesday 16 and Thursday 18 May, the Genoese branch of Cambi Casa d'Aste hosted five important events dedicated to collectors and art enthusiasts, with the catalogs of Collectible Silverware, Ancient Paintings and Drawings, Maiolica from the XNUMXth…
The reference commercial interest rates applicable to 14 June 2017 included have been published on the MiSE website.
The reference commercial interest rates applicable to and including 14 May 2017 have been published on the MiSE website.
The twin deficits and the country's external position are improving, while the risk of exchange rate depreciation remains limited in the event of further Fed hikes. Inflation and consumption are doing well, but watch out for problem loans and the capitalization of local banks.
An auction entirely dedicated to Vintage, jewels, bijoux, and for bag lovers, small "masterpieces" of Italian and foreign manufacture are offered together with great classics from Maison Hermès (from the Kellys to the most requested Birkins), Roberta di Camerino, Gucci,…
The reference commercial interest rates applicable to and including 14 April 2017 have been published on the MiSE website.
With 67% of lots awarded and 95% of sold by value, the auction had a turnover of €1.498.000, meeting the great expectations placed in it.
The reference commercial interest rates applicable to and including 14 March 2017 have been published on the MiSE website.
The reference commercial interest rates applicable to and including 14 February 2017 have been published on the MiSE website.
The reference commercial interest rates applicable to 14 January 2017 included have been published on the MiSE website.
The reference commercial interest rates applicable to 14 October 2016 included have been published on the MiSE website.
INTERVIEWS OF THE WEEKEND - The former CEO of the Bank of Italy and former Minister of the Economy, Fabrizio Saccomanni, speaks: "England makes us angry and its short-sightedness is there for all to see. Europe made a mistake but go back that would be risky. He has to find…
INTESA SANPAOLO REPORT - Internal and regional tensions continue to weigh on the Lebanese economy. In 2015 the deficit increased to 7,6% of GDP, while the public debt amounted to 103 billion. Despite this, the country continues to accumulate…
In the country, the weakening of the exchange rate, pegged to the euro, favored the strengthening of a positive cyclical phase (GDP at +2,6%) which is expected to continue also in 2016. However, the banking system and the diversification of activities need to be strengthened productive.
From "THE RED AND THE BLACK" by ALESSANDRO FUGNOLI, strategist of Kairos - Today "Exchanges and bonds float without too many problems and more than lightening, in this phase, it is a question of repositioning towards cyclical and emerging ones in the reasonable hope that…
From "THE RED AND THE BLACK" by ALESSANDRO FUGNOLI, strategist of Kairos - After the end-of-cycle crisis in February we returned to the status quo ante and the markets returned serene as a result of Qe, fiscal policy…
In the region, production and exports remained supported also by the fact that the countries of the area were only marginally affected by the slowdown in the main developing countries - But always pay attention to Russia and Ukraine, where the increase in non-performing loans…
Atradius expects that the Fed's rate hike will have a moderately negative impact on capital flows to emerging markets with high external financing needs and insufficient foreign reserves.
The reference CIRR commercial interest rates reported by the OECD, applicable from 15 January 2016 to 14 February 2016 inclusive, have been published on the website of the Ministry of Economic Development.
As pointed out by the IMF, monetary policy appears too unbalanced in support of domestic demand and deficit financing, but little attention to the price level, while a large depreciation of the official exchange rate is urgently needed.
As reported by Atradius, a recovery in investment in non-extractive sectors will be necessary if sustained momentum is to be achieved in the long term, in the face of rising unemployment and the difficulties of local tourism and industry.
From the Atradius analysis, if the scenarios are slowly improving for companies in the Eurozone, the first half of 2015 marks the difficulties of Switzerland, Canada and Norway, due to the exchange rate and the decline in investments in the energy sector.
In 2016 the country is expected to expand by 0,5%, where the improvement in the scenario was helped by the cuts in interest rates by the Central Bank which occurred on several occasions. Slight recovery in business loans.
As reported by Intesa Sanpaolo, in order to finance itself, the country must rely on remittances and loans from international partners and organizations, while the vulnerability of the local currency to regional dynamics is worsening.
According to the Intesa Sanpaolo study, the still uncertain geopolitical framework does not represent difficulties in financing the public deficit, while the foreign exchange reserves ensure adequate coverage of external needs and imports.
According to Intesa Sanpaolo, in the country that imports almost all of its energy needs, the limited sophistication in production and the low rate of savings have favored large deficits and still high inflation.
FROM THE BLOG OF ALESSANDRO FUGNOLI, Kairos strategist - According to UBS "the big movements on exchange rates don't change anything" because exchange rates are less important than they once were for 3 reasons: globalisation, the greater importance of production prices…
As indicated by SACE, the country urgently needs a change of strategy and a reform plan to regain credibility on international markets. Italian exports down trend by 4,2% in the first 9 months of 2014 but for…
Domestic demand and investments are expected to support the Central European country's growth in the coming year, thanks to Prague's ability to increase exports in a context of financial stability and a strengthening of the exchange rate in real terms - As recently…
The dollar strengthens significantly against the yen and against the euro - The American currency sets its maximum for over 2 and a half years against the euro - Record also in the exchange with the yen - The Japanese currency suffers the cut…
The collapse of confidence in the Russian economy is evident from the outflow of capital, where the depreciation of the ruble has also aggravated the general level of prices with repercussions on inflation and private consumption.
According to Intesa Sanpaolo, the impact of the political protests that had paralyzed the country was temporary, but in the fragile political context, the turnaround in US monetary policy could expose the exchange rate to new volatility.
The international financial markets have an overall positive view of the country, with an export/GDP ratio among the highest in the EU and where the intervention of the Central Bank has averted the risk of deflation.
The architecture of the economic and institutional system has various weaknesses: external debt, public debt and a significant financial requirement are the main factors which still penalize the country's competitiveness.
The possible easing of regional tensions would re-evaluate the role of regional financial hub held by the country in the past, favoring the recovery of tourist flows and FDI, but decisive internal reforms are needed from a structural perspective.
Atradius earlier this year saw signs of a new recovery after the rebound of 2010-2011. The risk of exchange rate volatility is low, which could negatively affect the mood of investors called to finance the increase in debt of…
Even on the euro-dollar exchange the views of Paris and Berlin differ: the strong euro has in fact reduced the prices of imported products, in turn pushing down the prices of many goods in the Eurozone - The risk is that the appreciation of the EUR…
The Italy-Turkey matching ended during the week - Despite the country's current difficulties, our exporters and investors must continue to follow their operations in Turkey, with optimism but also with caution, using secure payment instruments…
The civil war has affected the channels through which the country accumulates hard currency, while the source of pressure both in terms of social stability and financial sustainability in neighboring countries must be identified in the humanitarian emergency.
The depreciation of the national currency is generally seen as a factor that should stimulate export competitiveness in a country that needs to revive its non-extracting sector.
It returned to the levels of February thanks also to the note of caution arrived yesterday from the Bundesbank which in the monthly bulletin underlined how the 'forward guidance' offered by the ECB on the cost of money should not be exchanged as a…
The euro continues to benefit from the good German industrial orders result. At the opening of the US stock exchanges, the single currency was up against both the dollar and the yen. The main movement on the Forefox was that of the Australian dollar which has…
Despite the difficult continental climate, the competitiveness of Polish exports is guaranteed by the favorable exchange rate, while the easing of tensions on the public finances ensures the net flow of portfolio investments.
Intesa Sanpaolo's analysis indicates that the current crisis and recession scenario is aggravated by the lower weight of loans compared to GDP, while the exchange rate risk and inadequately hedged non-performing loans weigh on households and businesses.
As for exchange rates, the ECB president specified that "they are not a political objective, but they are important both for growth and for price stability. In any case, we will monitor the situation, all this chatter that…
The sense of the message, according to the WSJ, would be to strengthen the G7's commitment to ensure that exchange rates are determined by the market and not by unilateral interventions on currencies.
Sace's Focus on the Philippines underlines how reform progress is transforming an economy which, thanks to raw materials and skilled labour, today represents a bet for investors. Justice and bureaucracy are the next challenges to overcome, but…
The Brazilian finance minister, Guido Mantega, blames the (too) strong exchange rate of the real on expansionary monetary policies in America and Europe.
The euro ends the year in a phase of weakness, but in the last three years the fluctuations between 1,20 and 1,50 against the dollar have been continuous. This swing has also given several opportunities to both importers and exporters. Let's see what they are…
China has long established itself on the international scene as the second largest economy in the world. It is only a matter of time before its currency, the yuan, also becomes a major currency in international markets
The Chinese Central Bank has increased the value of the yuan to a level not seen since July 2005 - However this morning the Chinese currency has again reached its lowest level against the US dollar allowed…
According to the Argentine economist Roberto Frenkel, the excessive valuation of the area's currencies, due to the huge flows of capital, constitutes a threat to manufacturing and a general risk to development. Hence the proposal of a macroeconomic approach in a Keynesian sauce…
The change in the world scenario is having repercussions on emerging countries, which have recently seen a significant increase in inflation and an appreciation of currencies. However, central banks still have ample room to implement reforms to…
