Economy

2024-01-06 13:30:56

Deposits with banks stood at 1,141.9 billion dirhams (billion dirhams) at the end of November 2023, showing an annual increase of 3.9%, according to Bank Al-Maghrib (BAM).

Household deposits reached 850 billion dirhams, an annual increase of 4.8%, with 203.3 billion dirhams held by MREs, while the deposits of private companies, for their part, increased by 5.8% to 192. 5 billion dirhams at the end of November, specifies BAM which has just published its “credits – bank deposits” dashboard for the month of November.

The rate of return on 12-month term deposits recorded, from one month to the next, a drop of 23 basis points to 2.65% and that of 6-month deposits marked a decline of 7 points. basis to settle at 2.37%.

Furthermore, the minimum rate of interest on savings accounts was set at 2.98% for the second half of 2023, an increase of 147 basis points compared to the previous half-year.

With MAP

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2024-01-06 11:30:08

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2024-01-06 13:47:00

De Lijn launched the second and most important stage of the rollout of its basic accessibility plan on Saturday, concentrating buses on the most popular routes, between residential areas and other key areas. This new organization means that 3,200 bus stops will disappear, mainly in rural areas. This represents a total of 17% fewer stops than before the launch of the basic accessibility plan. Where there are few or no bus passages, users will be able to order – via the Hoppin app, the website or by telephone – flexible transport. This can be reserved 30 days to 30 minutes in advance. The budget allocated to “Flexbus” is twice as high (60 million euros) as that previously reserved for buses to order (30 million euros).

“A shame”: new controversy at De Lijn, the company orders… Chinese buses and raises eyebrows in Flanders

The new plan has been the subject of strong criticism from public transport user organizations and mobility experts. “This plan does not only come from De Lijn. It was discussed and approved with the cities and municipalities,” said Ann Schoubs during the presentation of the new offer on Saturday in Louvain. The company assures that it will now “monitor the situation” and that it will make “the necessary adjustments”.

Actions were taken on Saturday once morest De Lijn’s new transport plan in the capitals of the five Flemish provinces. In Leuven, around fifty people, including Groen co-president Nadia Naji and Vooruit MP Bruno Tobback, protested. Signs read: “There will be no Epiphany gifts this year because the three wise men are in the transport desert”.

”People whose usual stop is canceled and who have no alternative pay the costs. We do not understand why the cities and municipalities have approved this plan,” criticized Michel Van Oosterwyck, union secretary at ACV-CSC Transcom.

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2024-01-06 04:51:00

Crude Oil Weekly Review: Crude oil closed higher in the first week of the new year, with the situation in the Middle East dominating prices

Crude oil prices rebounded on Friday amid continued tensions in the Middle East. The international crude oil benchmark ended higher in the first week of the year, rebounding from losses triggered by a sharp build in U.S. gasoline and distillate stockpiles on Thursday.

WTI February crude oil futures closed up $1.62/barrel, or 2.24%, with a cumulative increase of more than 3.01% this week. Brent crude oil futures rose by $1.17 per barrel, or 1.51%.

(US crude oil and Brent crude oil continuous contract trend chart source: Yihuitong Finance)

【Market analysis】

The conflict between Israel and Hamas has escalated, and the situation in neighboring countries has become tense. U.S. Secretary of State Antony Blinken traveled to the Middle East to try to ease tensions. U.S. Treasury Secretary Yellen said Red Sea shipping has not had a material impact on energy prices.

PVM analyst Tamas Varga pointed out that risks posed by tensions in the Middle East are an important factor in the price rebound.

U.S. non-farm employment growth exceeded expectations in December, prompting financial markets to drop expectations of a March interest rate cut by the Federal Reserve. Jeffrey Roach, chief economist at LPL Financial in Charlotte, North Carolina, said the report reduced the likelihood of the Fed cutting interest rates in March. Views at Thursday’s Federal Reserve meeting that inflation was under control raised concerns regarding overly restrictive monetary policy.

Bank of America expects Brent crude oil to maintain a trading range between $70/barrel and $90/barrel. However, spare capacity might steepen the oil curve, putting pressure on industry values. Bank of America also predicts that Brent crude oil price will be US$80/barrel in 2024, but may fall to US$70/barrel in the long term.

John Kilduff, a partner at Again Capital LLC, said geopolitical tensions were driving up trading premiums and strong jobs data also pointed to strong fuel demand.

Logistics and shipping companies are diverting cargo ships to avoid waters infested by Yemen’s Houthi rebels, causing Europe-Asia routes to shift around the African continent. Oilfield services company Baker Hughes said the number of active rigs fell, while the number of crude oil rigs increased and the number of natural gas rigs decreased.

The Biden administration is replenishing the Strategic Petroleum Reserve (SPR) as surging U.S. gasoline and distillate inventories raise concerns regarding demand stability.

Editor: Talen, Qingyue

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