Russia’s coal miners could boost exports to China, the world’s number one energy consumer, after Beijing slapped tariffs on Australian imports amid a growing trade rift. Chinese authorities completely halted supplies of coal from Australia in late 2020 after Canberra voiced its support for an international inquiry into China’s handling of the coronavirus crisis. But … Продължение
Saudi Arabia will take the necessary measures to keep its oil resources and facilities safe and ensure the security of global oil supply, the Kingdom’s Foreign Minister, Prince Faisal bin Farhan, said on Wednesday. On Sunday, Yemen’s Houthi rebels said they had fired 14 drones and eight ballistic missiles at oil facilities at the Saudi … Продължение
Chinese overseas commerce soared 41.2 percent year-on-year in the January-February period, amounting to $834.49 billion. Exports rose to $468.87 billion, customs data shows. The nation’s resilient economy and greater opening-up could give more confidence to its trading partners, as well as the global economic recovery, overseas experts and organizations told China Daily News. “China’s presence … Продължение
The world’s top digital asset, bitcoin, continued to rally on Wednesday, pushing above $56,000. The surge comes as major pullback in US government-bond yields sparks demand for risky assets like cryptocurrencies. Bitcoin was trading at $56,166 at 2:46pm GMT, marking a day-by-day gain of more than three percent, according to CoinDesk. The cryptocurrency climbed for … Продължение
Alrosa, the world’s leading diamond-mining company by volume, sold $361 million-worth of rough diamonds and $12 million-worth of polished gems in February, according to a report just published. Its sales of rough diamonds rose by 5.5 percent compared to the same period a year ago, while sales of polished diamonds grew threefold against those recorded … Продължение
The Covid vaccine rollouts and stimulus optimism lifted stock markets this week while gold prices have taken a hit as volatility has begun to wane. Peter Schiff of Euro Pacific Capital joins Boom Bust with analysis of the recent price movement for the precious metal and the US economic recovery. “The markets still believe the … Продължение
The shares of video game retailer GameStop continued to rally on Wednesday, after hitting the highest point since the end of January, and pushing the company’s market cap back above $17 billion. The stock has skyrocketed more than 108 percent over the past five trading sessions, including Tuesday’s 27-percent gain. Shares closed Tuesday’s regular session … Продължение
Provocative tweets posted by Elon Musk that focus on cryptocurrencies have turned into a real call to arms for Americans taking their first steps in trading. An online poll reveals 37 percent of those surveyed follow his messages. The survey, conducted by online platform Piplsay last month, shows that 37 percent of respondents made personal … Продължение
A new report by ratings firm CRISIL said India’s GDP growth is expected to rebound to 11 percent next fiscal year, as the rollout of Covid vaccinations and “investment-focused government spending converge.” The second half of FY22 is projected to see a more broad-based pick-up in economic activity, due to a commodity price lift, large-scale … Продължение
Russia exported 79 million tons of food products last year, worth $30.7 billion, the AgroExport center under the country’s Ministry of Agriculture said in its latest report. According to the agency, Russian food exports saw a 20-percent surge compared to the previous year, beating the record set in 2018, when the country exported 78.5 million … Продължение
Unilever, the multi-billion-dollar company that owns brands such as Dove and Sure, has announced it will be dropping use of the word “normal” from products, and toning down its photo editing to be more inclusive of its customers. In a statement on Tuesday, Unilever revealed that its brands would be “removing the word ‘normal’ from … Продължение
The US Internal Revenue Service (IRS) is launching a new investigation named “Operation Hidden Treasure,” to uncover unreported crypto-related income and to fight cryptocurrency fraud. RT’s Boom Bust is joined by the program co-host Ben Swann to explore what the move may mean for the future of digital currencies, how this crackdown will be carried … Продължение
China’s Commerce Minister Wang Wentao said on Monday that the Regional Comprehensive Economic Partnership (RCEP) had been ratified during the National People’s Congress in Beijing, three months ahead of schedule. He urged other member countries to ratify the agreement as soon as possible, telling the South China Morning Post: “The sooner the agreement enters into force, … Продължение
Oil and other commodity trading have a much larger share in the gross domestic product (GDP) of Switzerland than its tourism sector, according to data from the Swiss State Secretariat for Economic Affairs cited by Bloomberg. Some of the biggest independent commodity traders in the world, including Vitol, Glencore, Trafigura, and Gunvor, have either their … Продължение
Max Keiser talks to Chris Fenton, author of ‘Feeding the Dragon,’ about why the United States is falling so far behind China in high tech, and whether or not it could ever compete against an economy like China’s. “They play a long game,” Fenton says: “They play a twenty-five, fifty, hundred-year game of chess while … Продължение
The market value of bitcoin has surpassed a $1 trillion mark for the second time in its history after the world’s biggest digital asset saw another surge while moving along its parabolic curve. Bitcoin’s price rose above $54,000 on Tuesday, marking a day-by-day growth of more than eight percent, according to data tracked by Coinbase. … Продължение
Iran has reportedly managed to ship record volumes of oil to China below the radar of the US economic penalties that have banned the Islamic republic from selling its crude to China, India, Japan and South Korea since 2018. China has never halted imports of Iranian crude completely, despite the US sanctions, with most shipments … Продължение
The European economy reportedly risks losing tens of billions of euro, as the slack pace of its anti-Covid inoculation program causes serious concern among investors over potential growth and poor progress in business re-openings. Distribution of vaccines across the European Union has been severely hampered by political divisions, supply disruptions, bureaucratic delays, an by plain … Продължение
Beijing has announced this week its intention to construct a “Polar Silk Road” and actively participate in the development of Arctic and Antarctic regions as part of its new 2021-2025 “five-year plan.” According to the plan published on Friday, China would “participate in pragmatic cooperation in the North Pole” and “raise its ability to participate … Продължение
Global prices for crude oil extended gains to a more than one-year high on Monday, after an alarm message from Saudi Arabia that the world’s largest crude terminal at Ras Tanura had been attacked. Output remained unaffected. International benchmark Brent was up 2.9 percent to $71 a barrel – the highest since January 2020 – … Продължение