Growth in Angola and Nigeria, the only sub- Saharan African members of Opec, would slow next year because of weaker crude prices, according to Fitch Ratings.
Fitch’s 2015 growth projection for Nigeria was revised down to 5.2 percent from 6.4 … Read the rest
It is an outdated strategy which worked against the USSR, but won’t work against contemporary Russia, for these reasons:
- Falling ruble insulates Russia from budgetary problems which might have resulted from falling oil price
- US is destroying its own shale
… Read the rest
Swiss voters rejected two closely watched referendums on Sunday that would have forced the central bank to buy up massive amounts of gold and introduced strict new limits on immigration, in a result that could bolster its economic ties to … Read the rest
In what could definitely be called a stunning move, the Netherlands has announced it has repatriated in excess of 120 tonnes of gold from the vaults of the Federal Reserve in New York to the Dutch Central Bank in Amsterdam. … Read the rest
Energy-exporting countries are set to pull their “petrodollars” out of world markets this year for the first time in almost two decades, according to a study by BNP Paribas.
Driven by this year’s drop in oil prices, the shift is … Read the rest
BARCLAYS on Thursday reported its African banking operations showed good profit growth during the third quarter. If sustained, the bank could show earnings slightly above full-year consensus when it reports results for the 2014 financial year.
The UK parent group … Read the rest
China and India are backing a 21 country $100 billion Asian Infrastructure Investment Bank (AIIB) to challenge to the World Bank and Asian Development Bank.
Memorandum of understanding were signed with 21 Asian countries in Beijing Friday. Australia, Indonesia and … Read the rest
Russia launched a new and independent natural gas exchange that will reside in St. Petersburg, and will make the facility the largest market for natural gas trading in all of Europe.
Known as the St. Petersburg International Mercantile Exchange (SPIMEX), … Read the rest
Christophe de Margerie’s last act as chief executive officer of Total SA (FP) left no room for doubt about his feelings toward Vladimir Putin’s Russia.
In a Moscow speech hours before the plane crash that took his life two days … Read the rest
As the United States expands its proxy war against Russia and the BRICS nations through a newly discovered secret deal with Saudi Arabia to force down global oil prices, Russia is firing back to this monetary attack against their currency … Read the rest
China, the world’s top coal importer, will levy import tariffs on the commodity after nearly a decade, in its latest bid to prop up ailing domestic miners who have been buffeted by rising costs and tumbling prices.
The sudden move … Read the rest
The conflict between ECB President Mario Draghi and Bundesbank President Jens Weidmann over the course of the European Central Bank is more severe than expected, and has become “almost impossible.”
The Italian ECB chief characterizes the Bundesbank president after statements … Read the rest
Shares across the world fell sharply on Friday, pushing a global index to a six-month low, as investors worried about the prospect of a widespread economic slowdown while U.S. monetary stimulus nears its end.
Assets which depend on economic growth, … Read the rest
The issue of whether the Chinese should be part of the International Monetary Fund’s Special Drawing Right, the composite reserve currency used in official financing, is highly technocratic, but the political questions at stake go to the core of world … Read the rest