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1.15138
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Gold
4676.00
-1.726%
Oil
103.832
10.230%
USD/JPY
159.633
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GBP/USD
1.31935
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210.577
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Real-time News
April 4th - The first meeting of the China-Canada Financial Working Group was held in Beijing on April 3rd. The meeting was co-chaired by Pan Gongsheng, Governor of the Peoples Bank of China, and François-Philippe Champagne, Minister of Finance of Canada. High-level representatives from the Peoples Bank of China, the State Financial Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, and financial regulatory authorities from Canada, including the Ministry of Finance, the Bank of Canada, and the Financial Institutions Authority of Canada, attended the meeting. During the meeting, the financial regulatory authorities from both sides exchanged views on global macroeconomic conditions, monetary policy, financial regulation, financial market development, global financial governance, and addressing increasing uncertainty. Both sides agreed that strengthening communication between regulatory agencies and financial institutions would help create a stable and predictable business environment and promote bilateral trade and economic exchanges. Both sides recognized the important role of the financial sector in promoting economic growth and driving bilateral trade and investment, and believed that strengthening communication between their respective financial regulatory authorities was of positive significance.April 4th - According to a letter to the European Commission seen by Reuters on Saturday, finance ministers from five EU member states have called for taxes to be levied on the "excessive profits" energy companies have made due to rising fuel prices caused by the war with Iran. The finance ministers of Germany, Italy, Spain, Portugal, and Austria made this appeal in a joint letter, stating that this move would send a signal that "we are united and capable of taking action." It would also send a clear message that those who profit from the war must bear their due responsibility for alleviating the burden on ordinary people.According to Reuters, the finance ministers of Germany, Italy, Portugal, Austria, and Spain have called for a windfall profits tax on energy companies.April 4th - According to CNN, as the Middle East conflict enters its second month, the oil shortage crisis risks escalating into a worse situation – shortages of almost everything. The conflict has severely restricted oil and gas transport through the Strait of Hormuz, reducing global supply by about one-fifth. This disruption has not only driven up fuel prices but also squeezed the supply of petrochemical products needed to manufacture everyday items such as shoes, clothing, and plastic bags. As prices for materials like plastics, rubber, and polyester rise, this pressure is spreading to every corner of the consumer market. Asia is currently the most affected, home to more than half of the worlds manufacturing and heavily reliant on imported oil and other commodities. Dan Martin, co-head of business intelligence at Deloitte Touche Tohmatsu, stated that this will very, very quickly impact all goods, such as beer, noodles, potato chips, toys, and cosmetics, because plastic bottle caps, shipping pallets, snack bags, and containers are becoming increasingly difficult to procure. Martin added that adhesives used in footwear and furniture, industrial lubricants for machinery, and solvents used in paints and cleaning processes also rely heavily on petroleum-derived products.On April 4th, the Israel Defense Forces (IDF) issued a statement saying that on April 3rd, the IDF conducted airstrikes on multiple targets in Tehran, the Iranian capital. The statement said the strikes targeted several key Iranian infrastructure sites, including an Iranian Islamic Revolutionary Guard Corps (IRGC) air defense facility storing missiles used to engage aerial targets. The statement also said the IDF attacked a military base responsible for protecting Iranian weapons research and development facilities. Additionally, it struck a ballistic missile storage site and several weapons production and research facilities. Iran has not yet responded to the attacks.
