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Japanese Prime Minister Shigeru Ishiba: The Bank of Japan is implementing various measures to stabilize prices.March 10, Berenberg analysts said that Europes military budget will grow at least in the high single digits by 2035, and at the same time, regional governments will promote the ordering of European defense equipment instead of American equipment, which will boost European defense stocks. They pointed out that the UKs commitment to increase its defense spending to 2.5% of GDP by 2027 is higher than they expected, which will especially benefit QinetiQ and Babcock International, which derive more than half of their revenue from the UK Ministry of Defense. The agencys first choice is German arms manufacturer Rheinmetall.On March 10, Heng Koon How, head of market strategy at UOB Global Economics and Market Research, said in a report that physical gold short squeeze is expected to push gold above $3,000 per ounce. "Uncertainty over trade tariffs has led to a sudden return of a large number of gold bars to the New York Mercantile Exchange and the United States, triggering a global gold short squeeze. In addition, the main positive drivers for gold remain unchanged, such as growing concerns about slowing economic growth." UOB recently raised its gold price forecast for the second quarter from $2,800 to $2,900 per ounce, the third quarter forecast from $2,900 to $3,000, and the fourth quarter forecast from $3,000 to $3,100.Germanys industrial output in January was -1.6% year-on-year after adjusting for working days, compared with -3.10% in the previous month.Germanys seasonally adjusted trade balance in January was 16 billion euros, compared with expectations of 20.6 billion euros and the previous value of 20.7 billion euros.

Tunisia, Others Try to Reduce Damage After Fuel Ship Sinks

Haiden Holmes

Apr 18, 2022 09:49

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The ship was on its way from Equatorial Guinea to Malta when it sank on Friday seven miles off the coast of Gabes in southern Gabon. Following a distress call, the Tunisian navy rescued all seven crew members.


Officials stated it was carrying between 750 and 1,000 tonnes of gasoline.


The defense ministry did not specify which nations had offered assistance, but local media said that Italy was set to deploy a navy vessel specialized in dealing with maritime catastrophes.


A specialized marine diving crew has begun searching the area surrounding the ship for signs of oil leaking.


"The situation is comforting and under control, and no leaking of gas oil has been detected from the sinking ship's tank," transport minister Rabie Majidi said.


He described the next step as "delicate and sensitive," since the ship must be removed from the sea without leaking.


Tunisian officials launched an inquiry into the sinking on Saturday, which the environment ministry blamed on severe weather.


"Tunisia will calculate the damages later and will seek compensation," environment minister Laila Chikaoui said.


The government said that obstacles will be erected to prevent the fuel's spread.


For years, the Gabes shoreline has been severely polluted, with environmental organizations alleging that industrial companies in the vicinity have dumped garbage straight into the sea.


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