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Foreigners earn USD 416m on forex

FOREIGNERS sold a total of USD 5.5bn worth of shares in the first eight months of the year. I highlighted this before: If foreigners are selling their assets, it is a signal of two economic expectations. Firstly, it implies that the stock prices might fall further. Secondly, it signals that the foreign exchange could appreciate...


Black Sea puzzles

BEGINNING with the pamphleteers of the 16th century, several authors have pointed to the roots of Spanish economic woes and singled out the influx of Mexican and Peruvian precious metals, a phenomenon that is worth labelling Moctezuma’s curse. Moctezuma II – in some sources Montezuma II – was the Aztec emperor when conquistador Hernán Cortes...