Business, Financial & Forex news

Business

Consumers in China took a record number of loans

Total debt in the economy of The Celestial Empire exceeds 260% of GDP  of China continues to demonstrate a debt model of development. The latest figures from the National Bank of China shows that in November residents of this country took loans in banks 1.7 times more than in October. In total for the reporting month, China’s individuals have totaled 1.12 trillion yuan more, which is equivalent to 169 billion dollars. The debt of households is more than 42% of GDP, and the total debt on the economy exceeds 260% of GDP. Attention is drawn to the state of the real estate market in China, which is clearly overheated: the cost of a house in Shenzhen, for example, an average of 44.4 times the annual income of the average family in this city. Continue reading

Oil finished the week with noticeable growth

The barrel of Brent oil has risen in price by almost 2%
Oil quotes at the end of the working week have steadily gone up. The barrel of Brent oil rose by 1.88% on December 8, or by $ 1.17, to $ 63.37, thus the price was 11.46% higher than the beginning of January this year. The rise was also observed in WTI: a barrel of this brand of oil rose in price by 1.11% or 63 cents to 57.32 dollars. Continue reading