Real-time News

On March 17th, Clive Bergers, an analyst at asset management firm JO Hambro, stated in a report that UK investors are closely watching the Bank of England's policy meeting and interest rate decision on Thursday for the latest information on the economic situation. The Bank of England faces a challenging situation as the UK labor market is weakening, suggesting a need for interest rate cuts. However, inflation risks from rising energy costs may hinder the central bank from lowering rates. The key question is no longer just how fast inflation is falling, but how strong the UK economy has actually become.

Russian troops have taken control of Kaleniki in Donetsk.

RIA Novosti: Russian troops have taken control of Sopich in Sumy Oblast, Ukraine.

March 17th - JPMorgan Chase now expects the Bank of England to keep interest rates unchanged throughout 2026. Previously, JPMorgan predicted a 25 basis point rate cut in April and June, but has now abandoned this prediction due to a significant upward revision of its UK inflation forecast. JPMorgan stated that the Bank of England may enter a "long-term pause" due to persistently rising natural gas prices making it difficult for inflation to return to target levels, and anticipates the next rate cut will not occur until the first quarter of 2027.

NATO Secretary General Rutte will meet with British Prime Minister Starmer and Ukrainian President Zelensky today.

Companies involved in rare earth projects include Mitsubishi Materials and Mitsui & Co.

March 17th - Canadian home prices fell in February as continued economic uncertainty forced sellers to offer larger discounts to hesitant buyers. Data from the Canadian Real Estate Association shows that the benchmark price for a single residential property in the country fell 0.6% from the previous month to C$661,100, marking the first consecutive month of declines. This period coincided with the ongoing trade dispute between Canada and the United States, Canada's largest trading partner. While most Canadian exports to the U.S. have so far been exempt from higher tariffs due to a previous trade agreement, that agreement will be reviewed this year, exacerbating anxieties already impacting the Canadian economy. Meanwhile, the war in Iran has led to a significant increase in energy and other costs, further clouding the economic outlook. Across the Canadian real estate market, the ongoing economic turmoil may be making both buyers and sellers more cautious. According to the Canadian Real Estate Association, existing home sales in Canada fell 1.3% in February from the previous month, while the number of new listings fell 3.9%.

On March 17th, Tencent Music reported total revenue of RMB 8.64 billion in the fourth quarter of 2018, a year-on-year increase of 15.9%, and adjusted net profit of RMB 2.58 billion, a year-on-year increase of 7.6%. Full-year total revenue reached RMB 32.9 billion, a year-on-year increase of 15.8%, and adjusted net profit was RMB 9.92 billion, a year-on-year increase of 22.0%. Full-year online music subscription revenue increased by 16.0% year-on-year to RMB 17.66 billion, while full-year online music non-subscription revenue increased by 39.2% year-on-year to RMB 9.07 billion. At the same time, Tencent Music announced an annual cash dividend of approximately US$368 million (approximately RMB 2.576 billion).

On March 17, Premier Li Qiang signed a State Council decree promulgating the "Decision of the State Council on Amending the Regulations on the Registration and Management of Social Organizations," which took effect on the date of promulgation. The Decision consists of eight articles, mainly stipulating the following: First, addressing the difficulties in merging and exiting industry associations and chambers of commerce, it adds provisions regarding the circumstances for mergers and terminations of industry associations and chambers of commerce. Second, addressing the lack of institutional regulations for debt handling during deregistration, it adds provisions allowing the competent business unit, industry management department, registration management authority, or interested parties to apply to the People's Court to appoint relevant personnel to form a liquidation team for liquidation. Third, addressing the lack of a responsible entity for applying for deregistration, it clarifies that relevant industry associations and chambers of commerce should handle changes and deregistration in accordance with the provisions of these regulations; if relevant industry associations and chambers of commerce have difficulty handling this independently, their competent business unit, industry management department, and relevant authorities should submit a request, which the registration management authority will then process.

Italy's final harmonized CPI annual rate for February was 1.5%, below the expected 1.6% and the previous reading of 1.60%.

Ukrainian President Zelensky: Ukraine possesses a complete air defense system except for anti-ballistic missile capabilities. The United States has an excellent anti-ballistic missile system. By combining these two advantages, protection can be built over any country facing a large-scale attack.

March 17 - Julius Baer Group stated that the current high oil prices are unlikely to continue. The safe passage of "friendly" vessels remains a dynamic that needs to be monitored. Given the lack of damage to major energy infrastructure, a slight easing of the Iranian military threat, and increased protectionist trade activities around the Strait of Hormuz, our base case forecast remains a brief but sharp rise in oil prices.

South Korea is exploring the possibility of importing Russian naphtha.

EU High Representative for Foreign Affairs and Security Policy Karas: The war with Iran will have a significant impact on the world economy.

EU High Representative for Foreign Affairs and Security Policy Karas: Now is absolutely the time to end the war with Iran.

EU High Representative for Foreign Affairs and Security Policy Karas: It is clear that we must take into account the unpredictability of US policy.