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Real-time News
The Hungarian central bank kept its benchmark interest rate at 6.25%, in line with market expectations.April 28th - As countries seek more funding for defense and advanced technology, the European Union is exploring the possibility of postponing repayments of billions of euros in debt incurred during the pandemic. According to sources, the European Commission, the EUs executive body, is preparing an analysis report on this possibility. Several countries, including France, have urged the EU to postpone repayments originally scheduled to begin in 2028, arguing that budget austerity and urgent spending needs should take priority. This move reflects a shift in the EUs attitude towards debt. Repayment of pandemic-era debt has become a core issue in the EUs negotiations on the 2028-2034 budget. EU leaders, at a summit in Cyprus last Friday, demanded that the European Commission conduct a repayment analysis. French President Macron stated in Athens on Saturday: "It makes no sense to repay COVID-19 debt now, given the demand for European securities and bonds; it will negatively impact the budget. We incurred debt during the pandemic. Now we are being told: we need to pay off the debt as soon as possible. This is foolish."On April 28, it was learned from Iranian sources that a liquefied natural gas (LNG) carrier had passed through the Strait of Hormuz. This marks the first time an LNG carrier has transited the Strait since the start of the conflict between the US, Israel, and Iran. The ships background is currently unclear, and its country of origin and final destination have not yet been released.On April 28th, sources revealed that Saudi Aramcos main export facility in Al-Juama, damaged at the end of February, disrupted liquefied petroleum gas (LPG) supplies, leading the company to extend the suspension of LPG shipments into May. Aramcos LPG exports had been suspended since a supporting structure at the facility collapsed before the outbreak of the Middle East conflict in February, causing prices to rise and buyers scrambling for alternative supplies. Subsequently, the conflict virtually closed the Strait of Hormuz, a major export route, causing energy shortages in Asia. Some sources indicated that Aramco has informed some buyers that it has failed to carry out necessary repairs at the Al-Juama facility. This means that even if the Strait of Hormuz reopens, no shipments will be delivered next month. The company stated on February 26th that "planned shipments from Al-Juama in the coming weeks will be cancelled," but did not provide further details.General Motors (GM.N): Aluminum, steel, and transportation costs are facing inflationary pressures.
