North American oil and gas companies could ratchet up spending by as much as 30 percent, according to Raymond James. That will be possible because banks are finally showing signs of loosening credit once again, after two years of slashing lending. Source: OilPrice
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The increasingly rapid adoption of industrial robots on Chinese production lines is set to hasten the fall in manufacturing employment. Among companies that intend to purchase robots in the coming 12 months, 72.7% said this would mean job losses, according to a Financial Time. Source: CHina Economic Review
The British Bankers’ Association said its members gave the green light to 44,657 mortgages in January, up from 43,581 in December and the highest number since January last year, when 45,794 were granted. The BBA said low mortgage rates were also driving strong interest from existing home-owners in remortgaging. Source: Reuters
In January, Russia increased its gold reserves by 37 metric tons, equivalent to more than a million troy ounces, Vesti.ru reported on Tuesday. As a whole, Russia’s foreign reserves grew by four percent last month, and stood at $393.6 billion on February 10. Source: Sputnik