The outlook released last Friday by the Agency of the Ministry of Finance shows that the financing need of the Dutch State will decrease for the coming year. This year, the State was in need of EUR 92.1 billion while during the coming year EUR 78.8 billion is needed. Furthermore, the aim is to further extend the average maturity of its debt profile to 6.4 years at end 2019. In early 2012 it was 3.5 years and currently five years.
Steel production has, under pressure from lower prices and falling demand, declined again, reports National Bureau of Statistics of China. In November, the crude steel production decreased by 1.6% compared to the same month a year earlier. This year steel production decreased by 2.2%. It is mainly the lagging domestic demand for steel that causes the problems in the Chinese steel industry.
Alibaba buys South China Morning Post, Hong Kong’s largest English newspaper, reports the Wall Street Journal. This acquires the internet giant an important place in the media landscape of Hong Kong. Both parties do not disclose what Alibaba paid for the newspaper. In the past three years, the newspaper had a turnover of more than HKD 1 billion, over EUR 117 million.
The 6M Euribor decreased with 1 bp to -0.04%. The 10Y Swap remained unchanged at 0.91%.
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