ICIS Blogs : currencies

Ineos talks of PetroChina deal for Grangemouth

Chemicals & The Economy — Thu, 18 Jun 2009 20:51:34 GMT

The 'Falkirk Herald', based close to Ineos's Grangemouth facility in Scotland, is not normally the place that the blog would look for news of the potential sale of a major part of the world's 4th largest chemical company. However, that...(read more)

V-shaped sellers meet L-shaped buyers

Chemicals & The Economy — Sun, 07 Jun 2009 14:48:35 GMT

Picture: www.businessoffashion.com A senior figure in the investment community told the blog recently that companies' views on the outlook for the economy seemed to vary according to their own financial position, "the stronger the balance sheet...(read more)

Russia's chemical production tumbles

Chemicals & The Economy — Sun, 31 May 2009 13:06:07 GMT

Last week's global production numbers highlighted the startling collapse in output from Central & Eastern Europe. This was the worst regional performer in Q1, and the blog decided to investigate further. Russian output is key to the region's...(read more)

Exporting is no fun anymore

Chemicals & The Economy — Tue, 28 Apr 2009 21:06:16 GMT

Japan and Germany are the great exporting countries of the industrialised world. They didn't have the consumer booms seen in the USA and UK. Yet their economies are plunging, as export opportunities dry up. Yesterday , the Japanese finance minister...(read more)

FT's Gillian Tett named 'Journalist of the Year'

Chemicals & The Economy — Mon, 06 Apr 2009 09:41:51 GMT

The blog is delighted that the Financial Times' Gillian Tett has been named Journalist of the Year, in the annual UK awards. She was the first journalist to call attention to the dangers developing in financial markets, and has been an invaluable...(read more)

G-20 moves on regulation, ducks other key issues

Chemicals & The Economy — Sun, 05 Apr 2009 08:14:20 GMT

The blog has been reading the G-20 communiqué, and various news reports, to understand whether the London summit answered the 5 key questions it raised in advance of the meeting. Reuters provides a good summary of the outcome in terms of 3 blog questions...(read more)

G-20 prepares for London meeting

Chemicals & The Economy — Wed, 01 Apr 2009 12:55:42 GMT

Leaders of the G-20 represent 85% of the global economy, and 65% of world population. Set up by Finance Ministers after the Asian crisis in 1997/8, they first met at Heads of Government level in the USA last November . Sadly, although their communiqué...(read more)

Japan's exports fall record 49%, China builds inventory

Chemicals & The Economy — Wed, 25 Mar 2009 10:08:08 GMT

Japan's auto exports tumbled 71% in February , and its US exports fell 58%, causing total exports to decline 49%. Imports also fell 43%. Exports to China, however, were 'only' down 40%. And other NEA exporters, more dependent on Chinese markets...(read more)

IMF says advanced economies to "contract sharply"

Chemicals & The Economy — Fri, 20 Mar 2009 08:22:54 GMT

The IMF and World Bank continue to play leap-frog in reducing their global growth forecasts. In January , the IMF forecast growth would come to a "virtual standstill". Then, two weeks ago , the World Bank said the economy would "shrink"...(read more)

Moody's sees negative outlook for Asian petchems

Chemicals & The Economy — Tue, 17 Mar 2009 08:15:39 GMT

Its not just the World Bank that is concerned about the outlook for East Asia. Today, Moody's (the ratings agency) says it has a negative outlook for the petrochemical sector over the next 12-18 months. It concludes: • "In response to weakening...(read more)

Another US Treasury Secretary speaks out

Chemicals & The Economy — Mon, 02 Mar 2009 23:08:05 GMT

James Baker was Treasury Secretary to President Reagan. When he says that the US is "repeating Japan's mistake by viewing our banking crisis as one of liquidity and not solvency", the blog listens. His prescription is stark: "we should...(read more)

The cycle of deflation

Chemicals & The Economy — Sat, 28 Feb 2009 16:36:17 GMT

US fund managers Comstock Partners reported a 50+% gain on their flagship Capital Value Fund in 2008. The logic behind their out- performance is summarised in the chart, which depicts their belief that we are now in a global cycle of deflation. Their...(read more)

Lessons from Japan's 'lost decade'

Chemicals & The Economy — Sun, 15 Feb 2009 16:47:51 GMT

In December , the blog noted that Japanese policymakers saw clear parallels between the mistakes they made during the 'lost decade' of the 1990's, and those being made today in the USA and other Western countries. The New York Times now has...(read more)

China allocates $58bn to stimulate petchem exports

Chemicals & The Economy — Fri, 13 Feb 2009 10:39:41 GMT

China plans to increase petchem production as a way of stimulating its economy. According to the China Daily , the government intends to allocate 400bn yuan ($58bn) from its fiscal stimulus to accelerate the implementation of petchem expansion plans....(read more)

The man with a plan

Chemicals & The Economy — Wed, 11 Feb 2009 06:55:56 GMT

Yet again, as in October, 'buy on the rumour, sell on the news' has been the financial markets' reaction to the latest efforts to solve the financial crisis. A 5% fall on Wall Street last night, in response to the Geithner plan, tells its...(read more)