EUR/USD
1.16987
0.178%
Gold
4582.71
1.407%
Oil
86.327
0.470%
USD/JPY
158.599
-0.284%
GBP/USD
1.36534
0.173%
GBP/JPY
216.550
-0.100%
Real-time News
On August 21st, KPMG UK Senior Economist Dennis Tartakov stated that UK government borrowing continues to veer off track. Net public sector borrowing in July was £1.8 billion, up from £1.1 billion in the same period last year. Since the start of the fiscal year in April, the gap between forecasts and actual borrowing has remained around £2.3 billion. "Normally, July sees strong personal income tax revenue, but thats not enough to put public sector borrowing levels back on track for the fiscal year," Tartakov said, adding that the Burnham governments promised cost-of-living bailout measures are likely to keep borrowing high in the near term. However, market demand for more debt is limited.On August 21, it was learned that Russian Deputy Foreign Minister Sergei Ryabkov stated in an interview that Russia is open to dialogue with the United States on the Ukraine issue, but will not compromise its principles. Ryabkov pointed out that the US has demonstrated a willingness to engage in constructive dialogue and understand Russias position. However, the more crucial issue at present is whether "Washington can influence the decisions of the Kyiv regime and its European backers, who are still fantasizing about inflicting a strategic defeat on Russia." Ryabkov stated that US Secretary of State Marco Rubio has indicated the need for new solutions, and Russia is willing to listen to these proposals. He emphasized that Russia is open to dialogue with the US, but this does not mean that Russia will abandon its principles.On August 21, it was reported that the Japanese government will allocate an additional 150 billion yen (approximately US$944 million) to support chip startup Rapidus, increasing spending in an effort to compete with companies like TSMC. According to a source familiar with the matter, Japans Ministry of Economy, Trade and Industry will seek more funding for the domestic chip foundry in the 2027 fiscal year budget. This government-backed joint venture, established in 2022, aims to manufacture cutting-edge 2-nanometer chips by 2027 and help Japan reduce its dependence on TSMC. Policymakers consider Rapiduss success and its technological independence in AI, robotics, and quantum computing crucial to national security.Bernstein raised its price target for NetEase (NTES.O) from $150 to $160.August 21 - According to the Philippine Institute of Volcanology and Seismology, a 5.1-magnitude earthquake struck near Agusan del Norte province in southern Philippines at approximately 5:12 p.m. on August 21, with a depth of 10 kilometers. The earthquake was felt in several nearby areas. No damage is expected.
