Austrian farmers hit by drought over the summer months are to receive government aid totaling 60 million euros (70 million US dollars), Xinhua reported citing the Austria Press Agency reported. The federal and state governments will each provide half of the total funding, which will take the form of direct aid to farmers, reforestation programs, and greater support for farmers in protecting against the elements. In addition, the assistance will include an increase in subsidies on insurance premiums, as well as the possibility for credit to be extended by a year. The lasting drought had in August been estimated by insurance authority Hagelversicherung to have caused a total damage of about 210 million euros (244 million US dollars). As the picture on the total becomes clearer, however, it is anticipated it will be significantly higher than that. Livestock farmers were particularly hard-hit, with up to 40 percent of grasslands in some regions affected by the drought, forcing them to … [Read more...] about Austria to provide 60 mln euros to drought-afflicted farmers
70 us dollar euro
Technology companies soar as US stocks recover losses BelfastTelegraph.co.uk Technology companies have soared as major US stock indexes recovered the ground they lost a day earlier. https://www.belfasttelegraph.co.uk/news/world-news/technology-companies-soar-as-us-stocks-recover-losses-37112808.html https://www.belfasttelegraph.co.uk/news/world-news/article37112809.ece/edabe/AUTOCROP/h342/bpanews_0f6e5819-a4b8-4c85-ba65-0de08644992e_1 Email Technology companies have soared as major US stock indexes recovered the ground they lost a day earlier. The Nasdaq composite closed at another all-time high. Big names such as Apple and Microsoft and chipmakers including Intel all made big gains as investors remain optimistic about the technology sector even though much of the market has been shaken by escalating tensions between the US and its trading partners, especially China. Industrial companies also regained much of the ground they lost on Wednesday but energy companies and basic … [Read more...] about Technology companies soar as US stocks recover losses
Baku, Azerbaijan, July 3 By Anvar Mammadov - Trend: The China’s yuan (CNY) weakened further overnight after Chinese authorities set the fix lower for the CNY once again, with USD/CNY rising above 6.72 overnight before settling back toward 6.67 as of this writing, Head of FX Strategy at Saxo Bank John Hardy told Trend on July 3. At its weakest levels overnight, the currency had weakened over 4.5 percent versus the US dollar in the space of less than three weeks, he noted. “The key question here is whether China is trying to send a message to President Trump in the showdown over trade or whether the message is intended for the Powell Fed,” Hardy said. “In other words, China may be looking back to the early 2016 timeframe and how the strong US dollar finally triggered then-Fed chair Yellen to back away on forward guidance on further rate hikes – seen at the time as the key change of course that revived global markets.” “Perhaps China is hoping it … [Read more...] about Will China be able to stop US dollar’s increase?
An aggressive trade policy and significant sovereign debt on the part of the US could result in the start of a de-dollarization process, experts at the World Bank say. They point out that currently, about 70% of all world trade transactions are accounted for by the US currency, about 20% by the euro and the rest is divided among Asian currencies. But the situation could change in a matter of decades. One of the most recent blows to the dollar's dominance was made by China with the introduction of its petro-yuan, which Beijing will use to buy oil and gas. That means that a huge chunk of the Chinese market will be closed to the US currency. READ MORE: The End of Petrodollar Era? How Trump's Iran Deal Undermines the Dollar The foreign policy of the current US administration has also closed access to the dollar for another major player on the oil … [Read more...] about Economists: Monopoly of the Dollar to Be Replaced by Troika Including Euro, Yuan
The Central Bank of Azerbaijan has announced the exchange rate of the Azerbaijani manat to foreign currencies. The Central Bank of Azerbaijan announced the manat rate to euro for June 5 at the level of AZN 1.9869 (June 4 - AZN 1.9875), the US dollar at AZN 1.70 (AZN 1.70), the Russian ruble at AZN 0.0274 (AZN 0.0273) and the Turkish lira at AZN 0.3703 (AZN 0.3665), according to abc.az. News.Az … [Read more...] about News.Az — Your Window to the RegionManat grows to euro and falls to ruble and lira