The Tubli Bay scheme is one of the latest in a stream of international utility-scale commissions saving precious resources that the company has undertaken. It was helped by the government-backed credit agency UK Export Finance (UKEF) supporting the contract which has done several deals for British firms now in the Middle East. “We actively seek […]

The ECB’s bearish economic outlook has weighed on the European currency today. Demand for the euro is also faltering as the global economy continues to slow down and bets for a German recession increase. Meanwhile, the pound is edging higher against the euro today as opposition to a no-deal Brexit grows. This follows increasing pressure on the Liberal […]

Hopes that the UK could avoid crashing out of the EU rose as UK opposition parties reinforced their plans to block a no-deal Brexit. Labour leader Jeremy Corbyn called for MPs to support a no-confidence vote in Boris Johnson’s administration. While Corbyn’s bolt-on proposal for a caretaker PM met some resistance, his actions have encouraged discussions […]

The Chinese government has been working on the project on-and-off for almost five years, despite publicly eschewing bitcoin and other global cryptocurrencies. The crypto narrative from the political corridors of Beijing has been ramped up in recent weeks to the point of almost suggesting it has been designed to replace the physical Chinese Yuan within two […]

Despite rising Brexit uncertainty, consumer confidence and spending remained optimistic last month, particularly online with promotions like Amazon’s Prime Day contributing to a 6.9 percent sales surge. Brick and mortar stores also enjoyed increased consumer attention in July, with a month-on-month growth of 1.6 percent in department store sales – the first upswing this year. GBP investors […]

Following months of wildly erratic volatility, which saw the world’s dominant cryptocurrency experience some of the most dramatic peaks and troughs in its ten-year history, it entered August with an apparent determination to flatline. While treating this as welcome respite from a spell of immense unpredictability, it would be easy to assume BTC wants a period […]

However, the year-on-year Retail Prices Index – another important inflation gauge – dropped from 2.9 percent to 2.8 percent. Overall, today’s data supported sentiment and diminished expectations that the BoE will make changes to interest rates in its scheduled September 19 meeting. James Smith, a Developed Markets Economist at ING, commented: “[W]e suspect the Bank of […]

The publication of Germany’s latest GDP figures, which indicate the Eurozone’s largest economy could be heading toward a recession, left the euro feeling quite fragile this morning. Destatis reports German economic growth shrank 0.1 percent in the second quarter, stumbling from a 0.4 percent expansion at the start of the year. The slump in growth came […]

The report has made Sterling traders slightly more optimistic about the economy as increasing wage growth lends support to consumer spending. However, the UK ILO unemployment rate figure for June came in worse-than-expected, rising from 3.8 percent to 3.9 percent – although this remains relatively low in historic terms. Peter Hemmington, a partner at the accountancy […]

Data published by the Office for National Statistics (ONS) showed a rise in the UK unemployment rate from 3.8 percent to 3.9 percent in June, with the level of joblessness edging away from a 44-year low for the first time since February. However, GBP investors were more focused on accompanying earnings figures which revealed surging […]