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Amazon is the most valuable brand in the world

Amazon retained its leadership as the most valuable brand in the world, having increased its value by almost a third compared to last year - to $ 415.9 billion. The top ten leaders of the BrandZ rating, compiled by the consulting company Kantar, included (in descending order of capitalization): Apple, Microsoft , Google, Visa, Alibaba, Tencent, Facebook, McDonald's and MasterCard.

Chinese social network TikTok also entered the TOP 100 this year, taking 79th place with $ 17 billion and ahead of KFC, Uber and Adidas (DE: ADSGN). Newcomers to the rating include UnitedHealthcare, Bank of China, Lancome and Pepsi (NASDAQ: PEP). The total value of all 100 brands on the list is estimated at $ 5 trillion.

The BrandZ rating is commissioned by the WPP advertising group by Kantar. In total, more than 17 thousand brands were studied in 51 countries.


Global Growth Forecast from the IMF

The International Monetary Fund downgraded its forecast for global growth to 4.9% in 2020, 1.9 percentage points (pp) below the World Economic Outlook (WEO) forecast released in April.

The COVID-19 pandemic has had a more negative impact on business activity in the first half of 2020 than anticipated, and the recovery is expected to be more gradual than previously predicted, according to an IMF report published on the fund's website.

In 2021, global growth is projected at 5.4 percent. Overall, this will result in 2021 GDP roughly 6.5 pp lower than pre-COVID-19 projections in January 2020.

The IMF notes that the extent of the recovery in financial market sentiment does not appear to be related to changes in the underlying economic outlook, and does not rule out that financial conditions may tighten more than the baseline scenario suggests.


World Bank gives disappointing forecast for world GDP

The World Bank has provided updated forecasts for global GDP due to the fact that the coronavirus pandemic and the measures taken to contain it turned out to be a sharp and large-scale shock for the economy of the whole world.

According to updated estimates, world GDP will decline this year by 5.2% (the highest rate since World War II), while an increase of 2.5% was previously forecasted. It is expected that a decline in per capita GDP will affect the largest share of countries since 1870.

It is reported that the US economy may narrow in 2020 by 6.1%, while Eurozone GDP is likely to decline by 9.1%. Note that previously expected GDP growth of 1.8% and 1%, respectively.


US Senate Unanimously Adopts "Foreign Companies Liability Act" on Wednesday

On Wednesday, the US Senate unanimously passed the Foreign Companies Liability Act S.945, which requires foreign organizations trading on US exchanges to comply and report in accordance with US law.

Now this bill should be approved by the House of Representatives and, if all the necessary procedures have been passed and approved, it may ultimately lead to a formal ban on the placement of shares by Chinese companies on American sites.

According to the bill, a company, in order to bargain in New York or at other sites, must provide an audit right to the American regulator, as well as confirmation that it is not controlled by a foreign government.

Historically, Chinese companies were not obliged to follow US standards in order to be eligible to be listed on US exchanges.

After the news of the adoption of the bill, shares of Chinese giant Alibaba Holding Group Ltd. on the New York Stock Exchange fell more than 2%, while growing on the stock exchange in Hong Kong.


Turkey bans its banks from trading lyre with Citigroup, UBS and BNP Paribas

The Turkish banking regulator on Thursday said that divisions of large international banks Citigroup, UBS and BNP Paribas no longer have the right to process transactions with the Turkish lira, because these credit organizations have not fulfilled their obligations related to the national currency.

Banks that are banned are major players in the foreign exchange market who regularly perform large-scale conversion operations for customers, including transactions with the Turkish lira.

Earlier, Turkish media accused Citigroup, UBS and BNP Paribas in London of currency manipulation, blaming banks for playing against the lira.

The Turkish Central Bank has almost exhausted its reserves in foreign currency due to the coronavirus and has recently turned to the United States with a request to create a swap line similar to that provided by the States of Brazil and Norway. However, experts suggest that the United States will reject the offer, because Turkey has no reserves, trade with the United States is quite limited, and the political relations of Ankara and Washington recently can not be called warm.

To help the economy resist the Covid-19 pandemic, the Turkish Central Bank lowered the rate from 24% to 8.75%. However, a lower rate reduces the attractiveness of the currency and Turkish assets to foreign investors. At the same time, a cheaper lira complicates the repayment of debts in foreign currencies by Turkish banks. Short-term debt obligations of credit organizations amount to 79 billion and should be paid off by February 2021, according to data on the website of the Turkish regulator.


Mitigation of restrictive measures introduced to curb the spread of coronavirus

Starting Monday, May 4, in some countries the restrictive measures introduced earlier to curb the spread of coronavirus are mitigated or canceled.

In particular, in many German federal states the work of hairdressers and museums resumes fr om May 4. Schools are also beginning to work, and religious institutions are once again open to believers.

In Spain, open bookstores, hairdressers, shoe and clothing repair shops, as well as cafes and restaurants, which prepare take-away food.

Quarantine is also mitigated in Italy - from May 4, the operation of take-away bars and restaurants is allowed, industrial production and construction are resumed. The decision to open parks and gyms will be made by local authorities.

Serbia opens cafes and restaurants, public transport begins to work.

In turn, Malaysia is returning to normal life - the restrictions on movement are lifted, enterprises are returning to normal work.

In Belgium, from May 4, allowed the work of companies whose activities do not require mass interaction with customers.

Greece removes most of its travel restrictions and opens some stores.

In Cyprus, travel agencies and most shops resume work. From May 4, meetings in churches are allowed (but not more than 10 people) and restrictions on movement are relaxed.

Hotels and shopping centers are opening in Poland, but there are still rules that lim it the number of visitors.

Tunisia resumed the work of government agencies, as well as the food industry, the construction industry and the service sector.

Armenia and Kazakhstan also weaken quarantine, allowing employees of a number of areas to return to work.


TOP 10 stocks of US companies that did not notice a pandemic

The pandemic has affected many companies around the world and the United States is no exception. Most of them, in one way or another, suffer from a decrease in cash flow; some of them even run the risk of closing a business.

The S & P500 index in March fell by 35% from historical highs. Many stocks showed even more significant drawdown. But there are those who not only did not suffer from the spread of COVID-19, and sometimes won. These are the shareholders of the companies discussed below.
Their shares have been growing since the beginning of the year.

1. Moderna (MRNA). YTD + 164% (growth from the beginning of the year). A biotechnology company with a capitalization of $ 14.4 billion. Demand for stocks rose sharply after the company was one of the very first to announce the development of a vaccine against COVID-19.

2. ZOOM (ZM). YTD + 119%. Zoom Video Communications is a technology company with a capitalization of $ 42.2 billion, a developer of the same-name service for holding online conferences. Shares rose sharply amid rising demand for remote conferences due to the spread of coronavirus and social restriction measures. The company makes a profit, revenue over the past year increased by 91%.

3. Tesla (TSLA). YTD + 67%. Mix of a new generation auto concern and an IT company of the energy business in the field of renewable energy. Tesla's business is associated with popular and promising technological trends, which explains both the rapid growth of capitalization and the high valuation of its shares. The company's capitalization is $ 135 billion, more than that of BMW, Daimler and VW combined.

4. Netflix (NFLX). YTD + 35%. Streaming video service with a capitalization of $ 191 billion. The company presents films and series of both its own production and third-party suppliers. The number of subscribers in 2020 exceeded 170 million, most of them outside the United States. The company's profit is growing at double-digit rates and, according to Reuters consensus forecast, will continue to increase in the next 2-3 years.

5. Amazon (AMZN). YTD + 29%. The largest online store in the United States and one of the most popular online shopping sites in the world. During the quarantine period, online stores and goods delivery are experiencing a renaissance. Amazon, unlike many other industries, does not lay off employees, but increases staff. Over the past couple of months, the number of employees has grown by more than 100 thousand. The company plans to hire another 75 thousand people in the near future.
In financial terms, Amazon is also doing well. Revenue continues to grow at a double-digit pace for several years. Over the past 12 months, this figure has grown by 19.5%. Earnings per share increased by 15%, to $ 23 in 2019. An important point of growth is the Amazon Web Services division, which provides cloud infrastructure services for IT companies.

6. Gilead Science (GILD). YTD + 25%. This is a large biotechnology company with a capitalization of $ 103 billion and annual revenues of more than $ 22 billion. The company's stock growth since the beginning of the year is associated with the use of its drug for the treatment of COVID-19. A number of sources state that one of the drugs produced by the company against other viral diseases has worked well in the practice of treating a new disease. The first reports on the use of the drug came in February from China. In April, the University of Chicago gave a positive assessment of the effect of the drug.

7. NVIDIA Corp (NVDA). YTD + 22%. NVIDIA is one of the leaders in the production of semiconductor chips for various purposes with a capitalization of $ 175 billion. The company began to show rapid growth in revenue and profits in 2015 in the wake of demand for NVIDIA video chips used in cryptocurrency mining.

8. Microsoft (MSFT). YTD + 11%. Microsoft needs no introduction. The company's operating system remains the most popular in the world. Meanwhile, Microsoft has many more software products whose popularity has grown significantly during the period of quarantine and remote work. It is also worth noting an important point in business growth - Microsoft Azure. This is a flexible cloud infrastructure for hosting IT projects of companies.
Despite the gigantic size of a global corporation with a capitalization of $ 1.3 trillion, its revenue continues to grow at double-digit rates. Over the last fiscal year, the indicator increased by 14% to $ 134 billion, and earnings per share grew 1.3 times, to $ 5.06. By the end of 2020, the company's revenue could exceed $ 143 billion, and earnings per share of $ 5.67.

9. Walmart (WMT). YTD + 9%. During the COVID-19 pandemic, there was a demand for essential products in all countries, including the United States. Grocery stores are one of the few that have not been quarantined in the last couple of months. In addition, in times of crisis for the economy, retailers act as a protective asset. All this helped Walmart with an annual revenue of $ 523 billion increase its capitalization to $ 357 billion.

10. Costco (COST). YTD + 6%. Another retailer with annual capitalization of $ 158 billion closes the top ten largest US companies with an increase in capitalization since the beginning of the year. Due to the rush demand and protective properties of the sector, the company's capitalization grew to $ 138 billion.


Amazon founder Jeff Bezos tops the list of the richest people on the planet again

he head of Amazon, Jeff Bezos, as in the last 2019, became the leader of the 34th ranking of the richest people on the planet according to Forbes. The publication estimated its fortune at $ 113 billion.
Although, Forbes notes, even he lost $ 18 billion over the year: Amazon shares fell in price with the US market by more than 20% amid the coronavirus pandemic.
In second place is Microsoft co-founder Bill Gates with a fortune of $ 98 billion, in third is LVMH owner Bernard Arnault and his family, whose fortune the magazine estimates at $ 76 billion.
The total fortune of all 2095 world billionaires reached $ 8 trillion: this is $ 700 billion less than in 2019.
The rating included 102 participants from Russia. The Russian part of the list was headed by the head of Norilsk Nickel Vladimir Potanin with a fortune of $ 19.7 billion.
Potanin was in the first position in the Russian part of the rating due to the growth of his company's quotes in the light of high demand for nickel and palladium. If a year ago, the shares of Norilsk Nickel were worth 14,288 rubles. apiece, then March 18, 2020 (at that date quotes and exchange rates for the list were fixed) they were at the level of 15 500 rubles. for paper.
The top three richest Russians also included the owner and chairman of the board of directors of NLMK Vladimir Lisin ($ 18.1 billion) and last year's leader of the Russian part of the list - the Novatek administration and co-owner of Sibur Leonid Mikhelson.


G20 promised to invest $ 5 trillion in the global economy to overcome the effects of the economic crisis

The G20 held an emergency virtual summit because of the coronavirus, which has become the main cause of today's economic crisis.
G20 leaders have promised to work together to create a vaccine against coronavirus and to make efforts to stabilize the economic situation.
The summit was held in a video conference format. The initiator of its convocation was Saudi Arabia, which chairs the organization this year, according to the G20 website.
At the beginning of the meeting, Saudi King Salman Ibn Abdulaziz Al Saud called on the G20 to increase funding for the coronavirus vaccine development program and strengthen economic policy cooperation.
"G20 countries should resume the normal flow of goods and services, especially basic necessities, as soon as possible. In addition, we must lend a helping hand to developing and least developed countries so that they can build their capacity and improve infrastructure to overcome this crisis," he cites King's press service G20.
The G20 agreed to invest $ 5 trillion in the global economy to overcome the social, economic and financial consequences of the pandemic, and instructed finance ministers and central bank heads to regularly agree on an action plan between themselves and with international organizations.


After a powerful collapse in oil prices against the backdrop of the coronavirus epidemic and the failure of OPEC + negotiations, the most important stock indices of a number of countries

Immediately after the opening of the Frankfurt Stock Exchange on Monday, March 9, the main German DAX index fell 7.4 percent to 10,690.08 points. At the same time, stock quotes of all 30 DAX-related concerns fell. In particular, the securities of Deutsche Bank and Adidas lost more than 12 percent at the very beginning of trading.
The most important index of the London Stock Exchange FTSE 100, reflecting the performance of the 100 largest British companies, lost 8.8 percent after the start of trading, dropping to 5897 points. The main index of the Paris Stock Exchange CAC-40, including quotes of 40 leading concerns of France, fell after opening trading by 6.4 percent to 4,809.68 points.
Earlier that day, Asian stock markets crashed. In particular, the most important index of the Tokyo Nikkei Exchange, taking into account 225 leading indicators, fell by more than 1000 points, falling below the figure of 20,000 points. By the end of the trading day, the Nikkei value was 19 698.76 points, which is 5.07 percent lower than the previous trading day. The Chinese Shanghai Composite Index lost 3.01 percent, down to 2943.29 points.
American stock markets also opened in a collapse: in the first minutes of trading, the S&P 500 index fell 6.9%, the Dow Jones - 7%. Due to such a sharp fall, for the first time since the financial crisis of 2008, trading for 15 minutes was suspended. Most of all, in a few minutes of trading, the shares of oil companies managed to fall in price: ConocoPhillips - 26%, Chevron - 14.47%, ExxonMobil - 14.2%.
Markets.com chief market analyst Neil Wilson told The Guardian that today will go down in history as Black Monday. "If you thought that [the situation on the securities market] could not be worse than the last two weeks, think again," he described.
Meanwhile, oil prices have suffered the most severe collapse since the Gulf War in 1991. A few hours after the start of exchange trading in Asia, quotes collapsed by about 30 percent. The price of Brent crude oil amounted to 32.83 dollars per barrel, which is 12.44 dollars lower than at the end of the last exchange day March 6. The price of the American brand of oil WTI fell by 12.44 dollars to 28.84 dollars.
Quotations of currencies of oil exporting countries also declined significantly. In particular, the Norwegian krone fell by 3 percent, the Russian ruble by 4 percent - to a minimum in almost four years, notes Reuters. According to Bloomberg, the dollar against the ruble in the international currency market rose to 72 rubles, the euro rose to 82 rubles. Due to the day off in Russia, trading on the Moscow Exchange will resume on March 10.
The collapse in oil prices occurred after the collapse of the OPEC + March 6 in Vienna. The Organization of Petroleum Exporting Countries (OPEC) proposed to the 14 countries included in the association in the second quarter of 2020 to reduce daily oil production by 1 million barrels, and 10 partners of the organization, including Russia, to take on another 500 thousand barrels. The Russian Federation rejected the proposal, explained by the need to keep oil prices from further declining amid the SARS-CoV-2 coronavirus epidemic and concerns about the possibility of a new economic crisis.


According to analysts of the two largest world banks, now we are talking about the depth and possible duration of the recession, Nuriel Rubini agrees with this

Morgan Stanley economist Chetan Ahya sees the recession as the underlying scenario for the global economy in 2020. According to the results of the year, its growth will not exceed 0.9%. According to his colleague, Jan Hatsius of Goldman Sachs, global GDP growth will reach 1.25%.
S&P rating agency predicted GDP growth in the range of 1-1.5%. All experts interviewed by the agency agree that the recession will be less serious compared to the situation in 2008, when the global crisis led to a 0.8% drop in global GDP. However, the effect will be more tangible than in 2001, when the "dotcom bubble" burst, and during the crisis of the early 1990s.
According to Bloomberg, a large number of negative forecasts from analysts should encourage financial authorities in different countries to take more measures to support manufacturers and small businesses.
Everyone for $ 1000 or we will be in the Great Depression
NYU economics professor Nuriel Roubini predicted that the recession from the global outbreak of coronavirus (COVID-19) would be "more serious" than the global financial crisis. Fiscal support will be critical to mitigating the impact of the pandemic.
He noted that the economy actually needs tax incentives to support the fall in private demand - especially in the face of falling exports, consumption, housing investment and capital spending.
"So far there is not much optimism, we can only hope for the right stimulation. In particular, the volume of support in the United States should be at least 3% of GDP. In this case, it will be a very serious, but short recession," Roubini said.
The economist suggested that Congress allocate $ 1,000 to "every resident of the United States," "before it's too late. "Everyone needs $ 1,000 each, otherwise we will end up in the Great Depression," he said.
Roubini expects the recession to begin this quarter, as the pandemic leads to a massive closure of enterprises and loss of wages for many hourly and service workers. He predicted a slowdown in economic growth in the second quarter and, most likely, in the third quarter.
"But if we have the monetary easing that we have now, if we control the spread of the disease by conducting systematic quarantines, perhaps by June-July the pandemic will stop, and perhaps by the fourth quarter of this year we will have a recovery in the economy," - said Roubini.


The Chinese stock market crashed after the opening of trading on exchanges, which were closed since January 23, when the country began the New Year holidays

The CSI 300 index, which includes 300 shares traded on the Shanghai and Shenzhen exchanges, fell by 9.1%, the price of more than 2800 shares fell by more than 10%, the yuan weakened by 1%, Bloomberg reports. The shares of telecommunications, technology and mining companies are falling the most.
Collapsed and the three largest commodity exchanges in China.
People have never encountered such a situation.
Bloomberg calls what is happening on them an "unprecedented bout of sale." Oil futures fell 7%, iron ore 6.5%, ferrous metals 6%. Copper, oil and palm oil fell to the daily limit allowed on the Chinese market. Shares in China's largest energy company, PetroChina & Co, lost nearly 10%; roughly the same thing happened with Jiangxi Copper & Co, the largest copper producer.
"Most people in the market have never encountered such a situation; you cannot blame them for needing money when they feel a threat to their health," said Fang Ryu, managing director of Shanghai WuSheng Investment Management Partnership, Bloomberg.
The Chinese authorities, in an effort to ease the panic in the markets, provided more than a trillion yuan of liquidity - 900 billion yuan ($ 129 billion) through a seven-day repo and 300 billion yuan through 14-day contracts at a rate of 2.55%. The Peoples Bank of China cut the rate by 10 basis points. Officials are urging investors to objectively evaluate the impact of the coronavirus.
Marketwatch notes that everything is not as bad as it could have been - there were speculations that the Chinese market could fall by more than 10% after opening. The Hong Kong HSI Index is growing at 0.9%, demonstrating investor approval of the People's Bank of China measures.
AxiCorp chief market strategist Stephen Ains, in a note to investors quoted by MarketWatch, wrote that the opening in China was generally calm, as the infusion of liquidity reassured investors who feared a collapse in opening markets. "Money speaks louder than words when it comes to the army of Chinese retail investors," he writes.
The overall effect of the spread of the virus will be comparable to the trade war, as it causes the same restrictions on the supply of products and services for China and the countries interacting with it. "Losses from the trade war amounted, according to IMF estimates, to about $ 850 billion, or $ 250 billion per quarter for the global economy. We are dealing with a not-so-complex virus, so this situation will not last longer than a quarter and, most likely, it will begin to decline by mid-February. That is, the approximate losses will be comparable to $ 250 billion. Given that the Bank of China has already announced the launch of a financing program for 1.2 trillion yuan, these losses will simply be replaced by equity money."
As of February 5, 2020, in China, the number of patients with pneumonia caused by a new type of coronavirus was 24 324 people. The State Committee of the PRC on Health Affairs said that 490 people were killed. Over the past day, 65 people have died.
It is also reported that there are 185,000 people in hospitals who have suspected coronavirus.
More than a dozen Chinese provinces extended the New Year holidays until February 9, in the capital the holidays are over, but authorities are urging people to work from home.


For Indian technology startups, 2019 was a record year in terms of attracted investments

According to TechCrunch, citing data from research company Tracxn, Indian technology startups raised $ 14.5 billion in 1185 rounds of funding
Among the most active investors, the publication names Sequoia Capital, which has invested in more than 50 Indian startups, Steadview Capital and Venture Catalysts.
Since 2016, when Indian startups were able to attract only $ 4.3 billion, the volume of investments has been constantly growing. In 2017, it was already $ 10.4 billion, in 2018 - $ 10.6 billion. At the same time, the number of rounds of financing in excess of $ 100 million was growing: in 2017 there were only nine, in 2018 - already 17, and this year - 27. In addition, this year 128 startups were acquired by other companies and four of them carried out an initial public offering. At nine startups, capitalization reached $ 1 billion



Happy New Year and Merry Christmas! Let the coming year become a stage of significant achievements, the opening of new investment opportunities and the implementation of the most daring plans and ambitious business projects. Thank you for the fruitful cooperation and look forward to its successful continuation in 2020!

Best regards, PrimeCapitals Ltd. Team


Startup Relativity Space raised a new round, one of the investors of which was a famous American actor and musician Jared Leto

The startup is creating real rockets using the giant Stargates printers. Startup engineers claim that the rocket they created uses 100 times fewer components and is capable of removing loads up to 1250 kg from low Earth orbit.
In the future, the company with the help of its technology plans to cooperate with Ilon Mask in the construction of bases on the moon and Mars.
Relativity Space occupies 26 thousand square meters. m of production area, has several Stargate printers, and the company employs 110 people.
Given the current round, the company's total investment is $ 185 million. This round was attended by Bond and Tribe Capital, former Walt Disney top manager Michael Ovitz and Jared Leto.
Startup CEO Tim Ellis considers Jared Leto an outstanding investor in technology companies.
Due to the attracted investments, the startup will be able to conduct the first launches of the Terran 1 rocket, printed on a 3D printer, in 2021.


The startup, which has received an estimate of more than $ 1 billion, plans to direct the funds received to the takeover of other companies and the expansion of the development team.

Acronis said that the acquisition of other companies will allow Acronis to accelerate the development of products, including Acronis Cyber ​​Protection cyber security solutions and Acronis Cyber ​​Platform. What kind of deals are in question, the company refused to answer.
The Acronis team expects that the investment round organized by Goldman Sachs will help the company accelerate product development through the takeover of companies and the acquisition of additional resources, and will also make business growth even faster.
Acronis was founded in Singapore in 2003, and in 2008 it opened a second headquarters in Switzerland. The company is creating hybrid cloud storage, collaboration synchronization software and other products. According to its own data, the company has more than 5 million private users and 500 thousand enterprises.
Acronis has not attracted external investment since 2004. Then part of the company's shares was sold to a group of funds led by Insight Partners for $ 11 million. After that, the funds sold Acronis shares to the rest of the shareholders.


The agreements were reached during the visit of the Minister of Foreign Affairs of Iran, Mohammad Javad Zarif, to Beijing in late August

China intends to invest in Irans oil, gas and petrochemicals. This agreement echoes the agreements between China and Iran in 2016, when investments in the oil and gas industry became part of the agreed $ 400 billion Chinese investment.
The agreement will minimize the negative consequences for Chinese companies of violation of US sanctions against Iran. It is assumed that oil will be paid not in dollars, but in RMB or "soft currencies" received from doing business in Africa or in the countries of the former Soviet Union. In addition, China will be able to buy oil, gas and petrochemicals with a guaranteed discount of at least 12%, and will be entitled to defer payments for up to two years.
In addition, China will have the right to repurchase in new or renewed oil and gas and petrochemical projects in Iran. Chinese companies will be able to deploy in Iran about 5 thousand security personnel to protect their investments, as well as additional employees to ensure the safety of oil supply lines, including in the Persian Gulf.
China also pledges to invest an additional $ 120 billion in the modernization of Iranian transport infrastructure.


Yield of 30-year-old German government bonds drops below zero due to fears of escalating trade conflict between US and China

For the first time in history, the yield on 30-year-old German government securities decreased by 10 basis points, to minus 0.002%. The blame for the trade conflict between the United States and China.
As a result, all German government bonds with all maturities have negative returns.
The fall in global financial markets was influenced by statements by US President Donald Trump about his intention to introduce 10% duties on imported Chinese goods worth about $ 300 billion a year from September 1. The PRC immediately promised to take retaliatory measures.
According to economists, the European Central Bank will soon give a clear signal that interest rates will soon fall even deeper into the area of ​​negative values.


The price of gold jumped to its maximum value over the past 5 years due to expectations of easing the US Federal Reserve policy

The price of gold with immediate supply during the Asian session rose to $ 1394.11 per ounce - it is 2.5% higher than the previous session and is the highest since 2013.
In New York, gold futures rose 3.6%, to $ 1397.7 an ounce - also the highest since 2013.
The price of gold has increased by about 8% since the beginning of May amid growing demand for assets of the safe haven amid escalating trade dispute between the US and China.
The statements of the Federal Reserve following the results of the meeting held on June 18-19, 2019 were regarded by traders as a signal that the US Central Bank could reduce the rate at the next meeting. This provoked a weakening dollar, which is favorable for the price of gold.
At the same time, experts note that the demand for precious metals may decrease due to the possibility of concluding another "armistice" by Washington and Beijing, waging a trade war.
US President Donald Trump plans to meet with Chinese President Xi Jinping at the G20 summit, which will be held in Osaka at the end of next week.
Recall that in May, after a prolonged increase, the price of gold began to decline against the backdrop of an aggravation of the conflict between China and the United States. At the same time, analysts predicted an increase in demand for gold "in the coming weeks."


Volkswagen in Uzbekistan. German automaker's investments will amount to about 40 million euro

This week, as part of the visit of the President of Germany, Frank-Walter Steinmeier, to Uzbekistan, a cooperation agreement was signed between Uzavtoprom and Volkswagen Group Rus LLC.
The parties agreed in the future to organize the assembly of German-made cars in Uzbekistan.
Before the immediate implementation of the project, the technical capabilities of local plants and the level of infrastructure of the country's automotive industry will be considered.
Volkswagen already has experience working with Uzavtoprom. In 2017, the parties agreed to organize the production of Volkswagen Amarok pickups. It was originally planned to implement the project in 2018-2019.