Daily Company News from ForexMart

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#ForexMart #HKMZvolen
ForexMart Cements New Partnership with HKM Zvolen
ForexMart has added a new industry giant in its growing list of partnerships with established sports companies: HKM Zvolen.
Hokejový Klub mesta Zvolen or HKM Zvolen for short is one of the most celebrated hockey teams in Slovakia. The professional hockey club has established a long rich history that can be traced back as early as 1927. The club has two Slovak league championship under its belt and the 2005 IIHF Continental Cup.
The partnership between ForexMart and HKM Zvolen has been an awaited collaboration with both companies enthusiastic for a prosperous relationship.
Executives of ForexMart expressed their optimism with the new partnership.
"Gaining a new partner in this business is a sign of enduring success for both parties. I am excited at the prospects of cooperation with HKM Zvolen because I see a future full of possibilities. We are ready to win not only in the hockey rink but also in business.”
- Savvas Patsalides, ForexMart CEO
“I've always believed that winning can only be achieved through hard work and solid teamwork, qualities that are the essence of both ForexMart and HKM Zvolen. We are proud of this partnership because just like them, we are in the business not only to win, but also to grow as a team with our clients.”
- Ildar Sharipov,
ForexMart President
ForexMart and HKM Zvolen will launch collaborative projects that intend to promote both companies. ForexMart will also stand as sponsor of the hockey team with the HKM Zvolen players bearing the official ForexMart logo in their upcoming games.
ForexMart and HKM Zvolen awaits a bright future with this collaboration.

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UK PM Theresa May Faces Pressure to Explain Strategies for Brexit amid Possible Vote from Legislators



UK Prime Minister Theresa May is currently facing renewed pressure to divulge her Brexit strategies before the Prime Minister starts taking formal steps for the UK to be able to leave the European Union. A group of legislators has demanded over the weekend that UK government should first submit a proper outline of its Brexit plans to the Parliament before formally withdrawing from the European Union. The said group has initially argued that the Brexit referendum only asked its voters whether they wanted to leave the eurozone and failed to indicate the terms and conditions of this particular referendum. It can be recalled that Theresa May was forced to backup a Labour motion last week after legislators called for a thorough review of her supposed strategy.

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The latest fact check label had been introduced by Google News

Google presents its own fact checker which will help the readers to distinguish the level of accuracy of a certain news especially those large stories.

The newly launch tool fully function together with the technique called Claim Review, the reviewed item will then gave a rating that indicates whether a specific report used compatible resources. The fact checker of Google will be completely start its rolling upon the time of U.S presidential election.

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Fed Vice Chairman Stanley Fischer Warns of High-Pressure Economy Risks

Vice Chairman Stanley Fischer of the Federal Reserve has recently warned of the risks brought about by a high-pressure economy, after the Fed has recently outlined its plans to further decrease unemployment rates, which is characterized by an increased economic pressure. Fischer also cited cases in the past wherein central banks reduced its unemployment rates way beyond its sustainable level, which has more often than not resulted to increased inflation. Economists are saying that this difference of statements between the two Fed officials are pursuant of an ongoing opinion divergence between the bank’s officials.

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Earnings of self-employed workers had fallen
According to the Resolution Foundation, the labor force of self-employed individuals in the United Kingdom expanded by 45 percent, however their remuneration depreciated by £60 ($73.37).
Due to the continuous lowering salary for all kinds of jobs including also the unsustainable financial system of the country.
Economic analyst, Adam Corlett who works on the same foundation stated that there are 5 million wage earners categorized as self-employed or about one out of seven laborers are independent or non-staff. This consists of hairdressers, taxi drivers and tutors. It is estimated that an average self-employed workers earns for about £240 (293.53 US Dollar) per week during the fiscal year 2014-15.

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Six Billion Bilateral Fund Needed Before IMF Agreed to Loan Egypt.
The International Monetary Fund has acceded on a $12 billion loan for three years with Egypt. They agreement is the need to secure a $6 billion bilateral funds before the approval of IMF. This is part of government’s reform program to curb budget gap and stabilitate the currency market. The government is also planning for a new investment law and the awaited 13% Value Added Tax while IMF hopes for Egypt to focus on easing monetary policies and lessen inflation.

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Canadian Stocks Decrease in Value after Drop in Commodity Prices Affect Index

The value of Canadian stocks finally dropped during Monday’s session after five days’ worth of rallying as a result of falling commodity prices which added more pressure to commodity-based companies. The S&P/TSX Composite Index for Canada decreased by 0.1% and is currently resting the at 14,923.01 level. The index increased last week by up to 2.4%, while profits from energy production and mining caused the index to surge by up to 15% for 2016, making this particular index the top performing equity market in the international platform, surpassing that of the UK and New Zealand

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Better U.S stocks are to be expected under the Democrat
Financial markets remain ambiguous amid the upcoming presidential elections, however, investors believe that stocks would probably thrive in case that 2016 Democrat Presidential Candidate, Hillary Clinton gain the victory.
This inference was based on the latest study conducted by Brookings Institution, this will serve as a supporting document of the “stock market's preference for Clinton“
An economist from the University of Michigan, Justin Wolfers and Eric Zitzewitz of Dartmouth College, an economist as well had tracked the markets overall attitude regarding the past events by which favors Clinton hence, this helped the Former Secretary of the State to heighten the probable chance of winning the position.
They further studied that S&P 500 index is expected to make a 12% surge upon Clinton’s administration compared to its rival, Donald Trump. Additionally, the market is possible for a lower volatility rate of 15-30%. While the treasury yields will expand up to 25 basis points and finally, the oil barrel will have an additional 4% for trading.
Most of the researchers had envisioned that Clinton’s triumph will largely make a breakthrough in the global market considering that the presidential result will be issued on November, the result can be felt on both local and international markets.

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Construction Spending in New York Has Hit a Record High
Construction spending is booming this year as it has exceeded the target even before the increase in demand for new housing and office space. It is predicted that the it will reach up to $43.1 billion construction spending this year which has increased by 26% compared to 2015 driven by the private sector. New York City employment boomed since late 2009 including the private sector growth more which has expanded faster more than the usual average data.
New York real estate is now receiving more attention as more investors globally look for investment returns which has both pros and cons. Consequently, the upswing in capital flow to New York City has diminished domestic returns.

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UK House Prices Expected to Drop due to Adverse Effects of Brexit on Market
London housing prices are expected to drop in value in 2017 due to Brexit uncertainties having an adverse effect on the housing market, according to a statement released by the Centre for Economics and Business Research. Since London is one of the highest-priced areas in the UK market, prices in the area are expected to plummet by up to 5.6% next year. Meanwhile, growth of UK property values are expected to surge by up to 6.9% before 2016 ends but will also likely suffer a drop by up to 2.6% in 2017.

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Home depot co-founder, Ken Langone remained skeptic for the hopes about the “ prosperity in the world”
An interview led by CNBC was made last Tuesday with the billionaire businessman, Ken Langone. The big-time executive defined the U.S economy as "at best, tepid." Langone strongly believes that the economy is not strong and doubt the statements from the economists.The American investor further compared the US economic system to a gun that lacks ammunition in order to uprear the economy.
The long-term Republican added that politics should put on one side before seeking the answers to the nation's disputed point which involves the health-care.

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Surge of U.S. Dollars Against Other Major Currencies

The US dollar reached a record-high in almost 8 months against euro while a three month high against yen recently which was driven mainly by the pending rate hike by Fed.

It has been assessed that 78% chance of Fed rate hike which is also to be swayed after the U.S. presidential election since political risks will be diminished. The dollar index has also risen by 0.34% compared to other six currencies. The planned stimulus of different central banks including Bank of Japan, European Central Bank and Bank Of England has also fostered appreciation of greenback.

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Singaporean Energy Corporations Face Added Pressure due to Energy Price Slump
Lending firm Oversea-Chinese Banking Corporation said in a statement that a number of Singapore-based energy corporations are now facing increased pressure due to the recent drop in oil and gas prices, which means that these companies might face difficulties with regards to repaying debts. The CEO of the said lending firm also stated that the final quarter of 2016 might become particularly difficult for the energy sector, especially since oil and gas prices have yet to recovery from this particular price drop.

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Economy Update: UK falls below France and ranked fifth as the world's biggest economy


As it was presented in the global economy table, the sterling pound experienced declivity. France ousted the economy of the United Kingdom and made it as the sixth-largest economy in the world.
The World Bank were able to conclude the ranking due to the average value of the currency within a certain period, including currencies accompanied by the dollar. Countries that slip past the UK are US, China, Japan, Germany, and France in terms of US dollar. The final line up all boils down to the exchange rates considering that the pound is five times weaker versus the greenbacks because of the EU exit. The annual GDP of the Britain is roughly £1.8 trillion which makes it powerless compared to the greens and eventually cause the country to plunge down in the table.

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China Reassures Investors to Impede a Six-year Low
Chinese Yuan is depreciating nearing a record low in six years. The government is finding ways to hinder the process and recover from this impending threat. However, the deputy Governor of People’s Bank of China (PBOC) said that there is no grounds for a relentless decline and they stopped it from happening.
China is giving off signs that the currency is being carefully monitored and investors should be careful in their trading positions against the currency. Despite this information, this would have much of an impact considering past connotations to the problem since the driving force is the appreciation of dollar.
The PBOC is saying if volatility arises, investors should not be agitated as they would definitely do something to stabilize the situation. China has already eased the local bonds and abandoned the necessity for inbound investment program quotas.