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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

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The main events by the morning: October 30


October, 30 2024
watermark Economic news

  • Apple continues to reduce its dependence on China: iPhone exports from India exceeded $6 billion. In six months, shipments of Indian iPhones have increased by 33%, and exports may exceed $10 billion by the end of the year. The company is gradually shifting production from China, where political and economic risks are growing, and there is also a rapid increase in living standards and wages.


  • Philip Morris, following Volkswagen, is leaving the German market – the company will close all its factories in Germany. Philip Morris has two remaining tobacco processing and cigarette manufacturing enterprises in the country, which will cease operations by mid-2025. It is planned to leave only a small processing center in Dresden for tobacco used in hand-rolled cigarettes. 


  • The price of gold has once again reached a historical record, exceeding $2,800 per ounce. The main growth factors remain active purchases of metal by central banks seeking stability in the face of global economic changes. Fears of a global recession amid protracted conflicts in Ukraine and the Middle East also spur interest in gold as a protective asset.


  • There is one week left before the US elections, and the election race is still tight: neither Trump nor Harris were able to achieve a significant margin.


  • NOVATEK has new difficulties with the Arctic LNG-2 project. The Zvezda shipyard will not have time to transfer the Arc7 tanker, designed for LNG transportation, to the company on time scheduled before the end of the year.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.