Sterling rises following decrease in unemployment figures

Source: Bloomberg
The Pound reached its 22-month high against the Euro as the U.K. jobless rate fell to the lowest since 2008, indicating the economy is ready for higher interest rates. The Sterling rose 0.2% to 78.98 pence per Euro. The rally followed the BoE Governor Mark Carney's extensive plans to increase the borrowing costs.

 

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Thu, 17 Jul 2014 15:31:12 GMT

Libya restarts oil offerings from Ras Lanuf port

Libya's National Oil Corp is now offering crude for the end of July loading. After almost a year of being closed, the Ras Lanuf facilities are ready to export 1 million barrels of both Amna and Sirtica crude oil. However, traders have been hesitant to buy the Libyan crude due to high prices and quality concerns.

Thu, 17 Jul 2014 15:09:08 GMT

China's state firms boost profit margins

China's state-owned companies experienced an increase in profits in the first six months of 2014. The state-owned and non-financial firms generated combined profits of 1.22 trillion yuan, adding 8.9% to the previous year's figures. China's officials believe the economy is on the right track, as the government incentives kick in.

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