News for traders this week has revolved around the Federal Reserve raising its benchmark interest rate by three-quarters of a point for a fourth straight time.
Though the agency hinted that it could soon reduce the size of its rate hikes, this move pushed the key short-term rate to a range of 3.75 per cent to 4.0 per cent, its highest level in 15 years.
As many wonder with this, the central bank’s sixth rate hike this year, means for mortgages and other consumer and business loans, investors are planning what this heightened the risk of a recession means for their investments.
The energy market has also been in focus this week, with fluctuating oil and gas prices, as well as Europe moving to reduce its reliance on imported Russian fuel.
Trillion Energy International (CSE:TCF, Forum), an oil and gas company focused on natural gas production for Europe and Turkey, flow test results for the South Akcakoca-2 natural gas well at the South Akcakoca Sub-Basin (SASB) gas field offshore.
The final log evaluation identified a total of 32.9 metres of natural gas pay within 5 sands in the Akcakoca Member.
Two of the lower sands (D, C) were perforated over a combined interval of 22.1 metres MD. The well was then flow-tested into the SASB production facilities at 7.0 – 8.2 MMcf/d with a 32/64” choke. Reservoir pressure built up to 1690 psi during shut-in. The full 22.1 metres perforation interval is currently undergoing a long-term production test.
The results are in line with expectations and based on known production characteristics of historical gas wells at SASB. Final production flow rates will be provided when measurement at the onshore gas processing facility is completed.
The additional upper interval of 10.8 metres of pay identified through logs as gas-bearing sands will be perforated in the future after production for the initial interval starts to decline.
A new report out this week said that the software segment is projected to be the largest segment and register the highest growth in population health management.
Reliq Health Technologies Inc. (TSXV:RHT, Forum) just signed a new contract with a network of 40 Skilled Nursing Facilities in Florida.
The company expects to begin onboarding with these clients next month and have all 40 SNFs live by the end of March 2023. This contract is expected to add 4,000 patients per month to Reliq’s iUGO Care platform as of April 2023, and the company expects to have over 50,000 new SNF patients onboarded by the end of 2023.
The company specializes in developing Software-as-a-Service (SaaS) solutions for remote patient monitoring, telemedicine, and care collaboration. Reliq’s powerful iUGO Care platform supports care coordination and community-based virtual healthcare. iUGO Care provides real-time access to remote patient monitoring data, allowing for timely interventions by the care team to prevent costly hospital readmissions and ER visits.
RevoluGROUP Canada (TSXV:REVO, Forum) has been making the rounds among media outlets lately. The fintech company’s CEO, Steve Marshall, appeared on the Joe Torres Show, ‘Tiempo’ this week.
‘Tiempo’ is a public affairs program aimed at the ever-growing Latino population in New York. According to the American Immigration Council, more than 4.4 million immigrants make up 23 per cent of the local population in New York state.
Marshall discussed RevoluPAY and RevoluSEND in a segment that aired on Sunday, October 30th. RevoluSEND enables international remittances for local cash collection, bank account deposits and home cash deliveries.
The RevoluPAY Apple and Android wallet allows for free and instant transactions between app users and families around the world. RevoluPAY Visa Card is an internationally deliverable card valid for two years, enabling instant delivery of remittances.
Marshall also offered insights into M&A scenarios in the financial, neo bank and fintech spaces.
He sat down with Daniella Atkinson to discuss the company’s 117-country remittance platform and recent augmented media coverage in the United States.
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