Saudis Raise Oil Pricing to U.S., Asia
State producer Saudi Aramco increased all its grades to Asia by $1 a barrel for August.
World economy
Oil Prices Rise on OPEC+ Cuts, record China Imports
Brent has nearly doubled since the Organization of the Petroleum Exporting Countries (OPEC), Russia and allies - collectively known as OPEC+ - agreed in April to cut supply by 9.7 million barrels per day (bpd) during May-June to prop up prices that collapsed due to the coronavirus crisis.
OPEC and its Allies Led by Russia to Hold a Meeting on June 6
Two sources at OPEC + reported that Russia and Saudi Arabia agreed to extend the current terms of the agreement, which would imply a 9.7-million-barrel decrease in production per day in May and June, with Riyadh calling for an extension of two months.
The US and China are on the Brink of a new Cold War that Could Devastate the Global Economy
"We're essentially in the beginnings of a Cold War," Orville Schell, the director of the Center on US-China Relations at the Asia Society, told Insider. "We are on a downward slide into something increasingly adversarial with China."
China Announces New Tariff Waivers for Some U.S. Imports
The ministry did not disclose the imports value of the products. Beijing in February said it would grant exemptions for 696 U.S. goods including key products such as soybeans and pork based on applications from companies.
Brent Crude Oil Prices Reach $ 29.78 Per Barrel
The price of July futures for North Sea Brent crude oil rose 0.47% up to $ 29.78 per barrel, while June futures for WTI crude oil rose 1.08% up to $ 24.4 per barrel.
UK and US Kick off Trade Deal Negotiations
The restart of talks comes as the UK must negotiate a trade agreement with the EU, following Brexit, and in the midst of a pandemic that threatens to upend the global economy.
Brent Crude Price Bounces Over $28 Per Barrel
The WTI futures, meanwhile, is trading around $27.87 per barrel (+2.46%).
Coronavirus Pushes Oil Majors to Biggest Output Cuts in 17 Years
The output cuts are driven by an unprecedented drop in oil consumption due to coronavirus-related movement restrictions that have led to a surge in supplies and a collapse in crude prices to levels not seen in more than two decades.
Brent Oil Price Falls Below $16 Per Barrel
The price of June 2020 Brent oil futures has dropped by 13.55% on London’s ICE, reaching $16.71 per barrel. This is the first time Brent drops below $17 since November 2001, the data as of 06:45 Moscow time informs.
Jeff Bezos Gets $6.4 Billion Richer As Amazon Stock Hits A New Record High
Amazon is the first major company to rebound from the coronavirus market selloff, which started in late February:
IMF Grants Immediate Debt Relief to 25 Poor Nations to Help Fight Covid-19: Business Standart
"This provides grants to our poorest and most vulnerable members to cover their IMF debt obligations for an initial phase over the next six months and will help them channel more of their scarce financial resources towards vital emergency medical and other relief efforts," IMF Managing Director Kristalina Georgieva said in a statement.
Oil Climbs After OPEC+ Agree Record Output Cut
Brent crude LCOc1 futures rose 16 cents, or 0.5%, to $31.64 a barrel by 0709 GMT after opening at a session high of $33.99. U.S. West Texas Intermediate (WTI) crude CLc1 futures were up 37 cents, or 1.6%, to $23.13 a barrel, after hitting a high of $24.74.
Trump Congratulates Vladimir Putin and Mohammad Bin Salman for Reaching a Deal to Stop Oil War
"The big Oil Deal with OPEC Plus is done," Trump posted to Twitter Easter Sunday. "This will save hundreds of thousands of energy jobs in the United States."
OPEC+ Reaches Deal to Cut Oil Production by 9.7 Million Barrels Per Day
After that, the group will steadily ramp up production until the cuts end in April 2022.
OPEC+ To Continue Negotiations for Reaching Consensus with Mexico
"Participating Countries will meet on 10 June 2020 via webinar, to determine further actions, as needed to balance the market," the document says.
Bloobmerge: The World Economy will Lose $ 5 Trillion from Coronavirus
Although the downturn is predicted to be short-lived, it’ll take time for economies to make up the lost ground. Even with unprecedented levels of monetary and fiscal stimulus, gross domestic product is unlikely to return to its pre-crisis trend until at least 2022.
Saudis Take Big Stakes in European Oil Companies: WSJ
The stakes in Equinor ASA, Royal Dutch Shell PLC, Total SA and Eni SpA were all bought by the Public Investment Fund on the open market in recent weeks, said the people, who added that the fund might continue to make stock purchases.
World Economy Faces $5 Trillion Hit: Bloomberg
Although the downturn is predicted to be short-lived, it’ll take time for economies to make up the lost ground.
Natural Reduction in US Oil Production Cannot be Counted as OPEC+ Cut, Says Kremlin
"Those are various cuts. You compare the total demand contraction with cuts for stabilizing global markets, which means comparing apples and oranges," he said.
Oil Falls After Saudi Arabia, Russia Delay Meeting
At 0814 GMT, Brent was down $1.10, or 3.2%, at $33.01 a barrel. U.S. crude CLc1 were 84 cents, or 3%, lower at $27.50 a barrel, off a session low of $25.28.
OPEC+ Talks May be Held Next Week
"The meeting may take place next week. We have started communicating with countries on this issue," the source said, without specifying the format of negotiations.
Trump Says Ready to Help end Saudi-Russian Oil-Price War
The threat of a global recession triggered by the coronavirus pandemic had already hammered prices when Riyadh said last month it would raise exports after a production-cut agreement among top producers flopped in early March.
WTI Oil Price Breaks $20 Barrier for First Time Since 2002
The oil prices continue to be rattled amid news on continuous increase of coronavirus cases around the world.
Iraq Proposes Budget Cuts to Foreign Oil Firms After Oil Pice Crash
Iraqi officials said low oil prices have forced the oil ministry to review its plans on how to repay international oil companies (IOCs) their dues during the first six months of the year. The ministry is still waiting for an answer from the oil companies on this proposal.
G20 Leaders Commit to United Front Against Pandemic- Reuters
During an video conference of the world’s major economies, the leaders said they were committed to restoring confidence, preserving financial stability and reviving growth.
CNBC: Nine European Countries Say it is Time for "Corona Bonds" as Virus Death Toll Rises
Corona bonds are a controversial issue that has been dividing the 27-country region. Conservative policymakers in countries such as Germany, the Netherlands and Austria are often wary of the idea of issuing debt together with highly leveraged nations, such as Italy, Greece and Portugal.
WHO Reports Rapid Global Spread of COVID-19
"The number of confirmed cases worldwide has exceeded 200,000. It took over three months to reach the first 100,000 confirmed cases, and only 12 days to reach the next 100,000," the bulletin informs.
The Recession is Already Here: Bank of America
The outbreak of coronavirus has already led to a decline in global markets. The S&P 500 and Dow Jones Industrial Average are trading in the bear market and are now 30% below their record highs compared to last month.
G20 Plans to Hold Video Conference Summit to Discuss Coronavirus Situation
"Indeed, there is such an initiative from the G20 presiding country, Saudi Arabia. All technical parameters for organizing a video conference are indeed being agreed on through diplomatic channels," the noted.
Brent Crude Oil Falls Below $28 First Time Since January 2016
The last time oil of this grade was at this level in January 2016.
World Travel May Shrink 25% on Coronavirus in 2020, Shed 50 Million Jobs - WTTC
"Certain measures are not helping and they can prompt the economic impact to be way more significant," Messina said referring to the U.S. decision.
Kuwait Central Bank Quarantines Banknotes for Four Weeks
The World Health Organization officially declared the coronavirus a pandemic on Wednesday as the virus continues to spread. Over 126,000 people have been infected, with over 4,600 dead. Just over 68,000 people have recovered.
Tough Stance of Saudi Arabia, UAE Disrupted OPEC+ Talks in Vienna
Initially, the Russian delegation arrived at the OPEC+ meeting with the intention to extend the current arrangements for the second quarter, while Saudi Arabia proposed first to increase production cuts by 1.5 million bps until June, and then to extend this new extra production cut until the end of the year.
Coronavirus Could Cause Crash on Scale of 2008, Lagarde Warns
Christine Lagarde held a call with EU leaders on Tuesday night to urge them to take action and raise spending in order to counter the economic effects of Covid-19, a source with knowledge of the matter told Bloomberg.
European Banks Face $34 Billion Coronavirus Hit, Goldman Says
The profit erosion, equivalent to 7% of their total, will be driven by increased credit risk, weaker revenue and broadly flat costs, analysts including Jernej Omahen and Jean-Francois Neuez wrote in a note Tuesday.
Oil Prices Plunge More than 26% Afer OPEC Deal Failure Sparks Price War
U.S. West Texas Intermediate crude dropped 27.62% to $29.88 per barrel as of 06:33 GMT Monday, having earlier tumbled to a low of $27.34 per barrel. International benchmark Brent crude futures also plummeted 26.4% to $33.32 per barrel. Brent futures were down more than 30% at their lows.
Euro Zone Governments Should Use Budget Measures to Support Growth: Lagarde
Weak foreign trade has dragged the euro zone’s vast manufacturing sector into recession in recent months, and the coronavirus outbreak is risking further disruption.
Oil Ends Week Steady as China Growth Offsets Trade Deal Optimism
"A well-expected fourth-quarter China GDP rate (6%) provided little clue for oil price trading on Friday morning, and mounting downward economic pressure will perhaps limit oil’s upside in the mid- to long-term," said Margaret Yang, market analyst at CMC Markets.
Chinese Vice Premier Describes US-Chinese Cooperation as "the Only Correct Option"
"We don't think tariffs are a good solution. Both sides need to solve problems through negotiation," the Chinese official added.
Climate Change Tops Risks for World in 2020 – Davos Report
In its 50th edition, the WEF in Davos will focus on preventing the erosion of international solidarity – a principle that underpinned the WEF’s foundation – and seek ways to build political and societal cohesion that can drive a global response to issues such as climate change.
USA and China Sign First Phase of US-China Trade Deal
The deal, text of which was not released ahead of the signing, is said to include commitments by China to buy $200 billion of U.S. goods, including as much as $50 billion in agricultural products over two years.
U.S., China Look to Reset Trade Relations with Signing of Phase 1 Deal
U.S. officials called the deal a huge win that marked a significant shift in Washington’s relations with China, but said it included a tough enforcement measure that could trigger renewed tariffs if Beijing does not live up to its promises.
Chinese Vice Premier to Sign First Stage Trade Deal in US
Liu He will visit Washington from January 13 to 15 and will sign the first phase of a trade deal with the US.
OPEC Sees no Risks of Oil Shortages Amid Tense Situation in Middle East
He also said that participants in the OPEC + format do not plan to meet for an extraordinary meeting because of the situation with Iran and the US.
US-China to Sign 'Phase one' Trade Pact in Early January: Steven Mnuchin
"We are going through a technical issue now where again the agreement is translated," Mnuchin said. "I don't expect there's any changes. We'll sign the agreement in the beginning of January."
Erdogan Calls on Turks to Dump Foreign Currencies and Embrace Lira
Let’s show our patriotism like this.
President Donald Trump’s Threats Against China are Escalating
Despite the threats, financial markets showed muted reactions. As of 2:30 p.m. ET, the Dow Jones Industrial Average was down short of 80 points, or 0.28%, while both the S&P 500 and the Nasdaq Composite were up a respective 2.47 points, or 0.079%, and 27 points, or 0.43%.
Trump Says China Trade Talks Moving Along Nicely, but Beal Has to Be Right
"The trade talks with China are moving along, I think, very nicely and if we make the deal that we want it will be a great deal and if it’s not a great deal, I won’t make it," he said.
ASEAN Leaders Seek to Conclude World's Biggest Free Trade Deal
After seven years of talks, negotiators for 16 countries are meeting at the ASEAN summit in Bangkok in a bid to accelerate progress on the free trade deal.
China Wins: WTO Support to Sanction $3.6 Billion in U.S. Trade
The damages awarded Friday, in a statement on the Geneva-based organizations’ website, are the third highest in WTO history.
Nobel Prize in Economics Won by Trio for Work on Easing Poverty
The three, who often collaborate in their research, were awarded the prize — officially known as the Sveriges Riksbank Prize in memory of Alfred Nobel — for developing new, experimental research methods to identify the most effective policy interventions to fight poverty through field studies.
OPEC Hopes Russia will be Able to Resolve Differences Between Iran, Saudi Arabia
Without a doubt, President Putin has more than just political authority, not only in the Middle East, but also on a global scale, he said adding that they very much hope that he will apply his good qualities and help to reconcile, smooth out the differences that exist between some of our member countries.
Ecuador to Quit OPEC in 2020 in Search of Bigger Export Revenue
"The decision is based on the issues and internal challenges that the country must take on related to fiscal sustainability," the energy ministry said in a statement, without providing further details.
Eurozone Economy Faces More "Prolonged Sag", Mario Draghi Warns
Mr Draghi’s comments came after a key survey of business executives showed that the eurozone’s economy was close to stalling, dragged down by a steep drop in German manufacturing activity. The new data hit markets and prompted predictions of imminent recession on Monday.
Saudi Oil Supplies Return to pre-Attack Level: Minister
Prince Abdulaziz called on the international community to take strong action against the attack “on the global economy and energy markets.”
China Hopes U.S. Will Create Conditions Necessary for September Trade Talks
China hopes the United States can cancel the planned additional tariffs to avoid an escalation in the trade war, its commerce ministry spokesman, Gao Feng, told reporters on Thursday.
Oil Drops as Recession Risks Mount with Trade War Tariffs
Brent crude was down 54 cents, or 0.9%, at $58.80 a barrel by 0538 GMT, having earlier touched $58.24, the lowest since Aug. 15.
China Vows to Implement ‘Necessary Countermeasures’ in Response to Donald Trump’s US Tariff Increase
“We’ll have no choice but to take the necessary countermeasures.”
Malaysia's Mahathir Proposes Common East Asia Currency Pegged to Gold
“In the Far East, if you want to come together, we should start with a common trading currency, not to be used locally but for the purpose of settling of trade,” he said at the Nikkei Future of Asia conference in Tokyo.
Singapore Dethrones U.S. as World's Most Competitive Economy
The U.S. fell two spots as the confidence boost from tax cuts faded and high-technology exports weakened.
US-China Trade Talks end Without Agreement
“The relationship between [Chinese] President Xi [Jinping] and myself remains a very strong one, and conversations into the future will continue. In the meantime, the United States has imposed Tariffs on China, which may or may not be removed depending on what happens with respect to future negotiations!”
U.S. and China Near Deal That Could End Most U.S. Tariffs
One of the remaining sticking points is whether the tariffs would be lifted immediately or over a period of time to allow the U.S. to monitor whether China is meeting its obligations, the people said.
EU's Juncker Expects Trump to Refrain from Imposing Higher Tariffs on Cars
“Trump gave me his word that there won’t be any car tariffs for the time being. I view this commitment as something you can rely on,” Juncker told the German daily Stuttgarter Zeitung in an interview. He did not specify when Trump made the promise.
China Has No Intention to Reduce US Treasury Holdings
According to the official, the current tensions will not affect the interest of the Chinese government in purchasing US government debt.
Armenia President Personally Invited to Attend Davos World Economic Forum
According to her, Capital Finance International published an interview with Armen Sarkissian on the World Economic Forum in Davos.
Mark Zuckerberg Named Forbes Biggest Billionaire Losers of 2018
The biggest loser in the world was Facebook CEO Mark Zuckerberg, who had a terrible year amid internal scandals and damaging publicity. He was the only American among the ten biggest billionaire losers, half of whom were from Asia.
China Hopes for ''Orderly'' Brexit, Calls for More Open EU Economy
“China hopes to see Brexit proceed in an orderly fashion and stands ready to advance China-EU and China-UK relations in parallel,” the ministry said in a lengthy policy document on EU ties.
Qatar to Withdraw from OPEC
“Qatar has decided to withdraw its membership form OPEC effective January 2019 and this decision was communicated to OPEC this morning,” Reuters quoted him as saying at a news conference.
Trade Deal Possible at G20 but Chinese Paper Says U.S. Must be 'Fair Minded'
“Beijing wants a deal, just as Washington does. And it is willing to cooperate with Washington in dealing with concerns about trade if they are fair-minded,” the paper said.
Does EU Stand for Counterbalance to American Sanctions against Iran? Myth or Reality?
The Trump administration announced the restoration of sanctions against Iran, but the issue is not limited to the economic and political framework of the two countries, as the sanctions imposed on November 5 will have a direct impact on all the companies dealing with Iran.
The Refusal from US State Bonds by the Investing Countries Can Have Crisis-Leading Consequences
At least for the past two decades, the US public debt has continued to grow, but it does not hinder the well-being of the citizens of the world's number one country. What is the reason for this?
Global Financial Stability Risks Rising With Trade Tensions, IMF Says
New bank resolution regimes meant to avoid future bailouts are largely untested, the Fund said in its biannual global financial stability update.
Americans Nordhaus, Romer Win Nobel Economics Prize
Nordhaus, of Yale University, was the first person to create a quantitative model that described the interplay between the economy and the climate, the academy said.
It is Possible that Russia ''Refuses'' Dollar: What Will Be the Consequences for Armenia?
The process is quite risky and, if successful, will be accompanied by both positive and negative consequences.
G20 Trade Ministers Say WTO Reform 'Urgent' as New Trump Tariffs Loom
With U.S. President Donald Trump readying tariffs on another $200 billion in Chinese goods, the ministers said they were “stepping up the dialogue” on international trade disputes, according to the statement.
U.S.-China Trade War Escalates as New Tariffs Kick in
China’s Commerce Ministry said Washington was “remaining obstinate” by implementing the latest tariffs, which kicked-in on both sides as scheduled at 12:01 p.m. in Beijing.
Current Situation of Iranian Economy Can Be Seen As an Opportunity in the Context of Extending Armenian-Iranian Economic Relations
The matter is that the use of US sanctions will dramatically decrease the circulation of American currency in Iran, which will result in the Iranian "Riyal" devaluation.
US-China Currency War Will Affect All the Developing Economies
The consequences of these mutual trade operations are not just the concern of these two economies, and it is explained not only by the fact that they are superpowers, but also by measures taken as a result of the tension.
China Says U.S. Pressure will not Impact Trade Talks
Speaking on the sidelines of a meeting with Southeast Asian foreign ministers, Wang said pressure from the United States would not have any impact on any trade negotiations.
China Imposes Retaliatory Duties on 800 Goods from US
According to the US Customs and Border Service, the United States on July 6, introduced the first installment of 25% import duties for 818 items of Chinese goods for the total amount of $34 bln.
US-China Trade War Has Started
Trump carries out promises made during his election campaign, the core of which is the ideology of the American interests. Following the election, the same taxation policy was applied to American companies outside the United States, with the goal of concentrating their activities in the homeland.
Oil Prices Drop as Iran Signals Support for Opec Output Rise
Brent crude futures were at $74.51 per barrel at 0152 GMT, down 23 cents, or 0.3 percent, from their last close.
New Fintech Project to Enable Russians to Transfer Money via Messengers
Transfers via Тelegram, WhatsApp, Viber and Facebook Messenger will be possible after the mentioned messenger services are integrated with the Fast Payment System that FinTech Association is developing, said an Izvestia source close to the bank. WhatsApp and Viber have announced their support for the novelty.
Euro Zone Factory Boom Stumbles Again in March but Growth Solid
IHS Markit’s final manufacturing Purchasing Managers’ Index (PMI) for the euro zone sank to an eight-month low of 56.6 in March from 58.6, in line with an earlier flash estimate and still comfortably above the 50 mark that separates growth from contraction.
EU-USA ''Metal War'' Will Cause New Intrigues
It is worth noting that the EU's gross national economy will suffer from this trumpet decision, as, according to official data, the European countries suspend the abolition of the above-mentioned metals exports to the US.
Sharp Fluctuations of the Bitcoin Exchange Rate are Conditioned by Market Regulation Efforts
The crypto-market itself is quite interesting, given the peculiarities of the virtual currency and, in particular, the fact that no institution controls it.
Bitcoin Extends Slide, Falls Below $7,000
Bitcoin has fallen in six of the last eight trading session.
Called the Total Sum of All Corruption in the World
According to the UN development program, the world economy due to corrupt component of the annual loss of 2.6 trillion dollars
China Invests Billions in Eastern Europe
Founded in 2012, the 16 plus 1 Cooperation comprises China and the states of the former Soviet-dominated Eastern Bloc.
Finance Outstrips IT in Digitization - Research
Finance industry got the highest digital sustainability index across the compared sectors.
Nobel in Economics Is Awarded to Richard Thaler
Professor Thaler, born in 1945 in East Orange, N.J., works at the University of Chicago’s Booth School of Business.
German Election Can Stoke Uncertainty- Ifo
Wohlrabe said that new elections could not be excluded given the difficulty of forming a new government: “So uncertainty can certainly spread.”
Fast-Moving Chinese Rivals Gain in Parallel to the Slowing Down of Apple
While Apple must convince buyers to fork out nearly $1,000 for its high-end model, challengers are tilting at the luxury market, offering similar features for less money.
Trump Trade Probe Will "Poison" Relations: Chinese State Newspaper
Trump will later on Monday issue the order to determine whether to investigate Chinese trade practices that force U.S. firms operating in China to turn over intellectual property, senior administration officials said on Saturday.
US Seeks to Renegotiate South Korea Trade Deal
The US president wants to overhaul the North American Free Trade Agreement and has threatened tariffs on foreign products, such as steel.
Argentina Plans to Offer 100-Year Bonds
Argentina will join Mexico, Ireland and the U.K. in selling debt that matures over a century.
In the Near Future Oil Prices Will Be Conditioned by Another - Qatari Factor
For example, if we look through the agreement reached in Doha a month ago to reduce oil production to 1.2 million barrels a day, we will see that this is primarily intended before the beginning of 2018, and there is still no certainty that any of the countries will not withdraw from the agreement.
Oil Prices Rise Amid the Diplomatic Scandal Surrounding Qatar
Oil futures rose as much as 1.6pc in New York, paring the biggest weekly loss in a month. Qatar's main stock index tumbled about 8pc during early trading.
Chinese Company Buys London's Tallest Skyscraper
The deal includes debt of some 12.7 million pounds and on March 31, the building was valued at about 1.15 billion pounds, the announcement said.
Trump Changed His Mind: He Will Not Terminate NAFTA
In a description of Trump's phone calls to Prime Minister Justin Trudeau and President Enrique Peña Nieto, the White House said Trump "agreed not to terminate NAFTA at this time and the leaders agreed to proceed swiftly, according to their required internal procedures, to enable the renegotiation of the NAFTA deal to the benefit of all three countries."
Trump Administration Considers Laptop Ban for European Flights
British officials understand that their US counterparts are looking at extending the ban – which prevents any devices larger than a smartphone being taken as carry-on luggage – to flights from Europe.
Global Financial Stability Հas Improved: IMF
It should be noted that the IMF warns there are risks ahead nonetheless. Especially, there is political and policy uncertainty around the globe, particularly in the United States and Europe. There is also a warning from the IMF about rising debt levels in China.
BRICS Proposes to Resist Trade Protectionism
China, which assumed the BRICS presidency for 2017, said developed countries should bear the primary responsibility in financing for development, honour their ODA (Official Development Assistance) commitments, fulfill the commitments under Technology Facilitation Mechanism...
China Is The World's Largest Goods Exporter: WTO
Accounting for 13.2 percent of the world's total in value, China's goods exports topped $2.1 trillion last year, in contrast to $1.6 trillion in imports, the statement said.
New 50-Euro Bill to Be Put Into Circulation
The new note, orange-brown in color, has raised print and a transparent window featuring a picture of "Europa," the Greek goddess from whom the continent takes its name, on a metallic strip.
Оil Prices Dropped
Brent Crude Oil has decreased by 0.28% and reached $53.38 per barrel, at the London ICE Futures stock exchange.
Central Banks Have Less Trust in Euro: FT
The results — compiled by trade publication Central Banking Publications and the bank HSBC earlier this year — show some respondents have cut their entire exposure to the euro, while others have reduced their holdings of investments denominated in euros to the bare minimum.
Oil Prices Are Rising
Brent oil increased by 0.10%, reaching $51.79 per barrel on the London ICE Futures Exchange.
Oil Prices Rise
April Brent crude LCOJ7, +0.75% on London’s ICE Futures exchange rose $0.40, or 0.7%, to $56.43 a barrel.
32 Most Powerful Economies in the World by 2050
According to this report, by 2050, the world is likely to have changed drastically from what we know now, and the planet's economic and financial landscape will be no exception.
Economic Policy Adopted by Trump May Lead to Great Changes
The ultimatum towards US firms, continuing ambiguity of the financial markets, the decision of unique taboos for Mexico, which contribute to the activation of major US competitors in the American continent, makes it clear that the global economy will soon undergo major changes.
Oil Prices Are Rising
And the March Futures’ Brent Crude Oil has increased by 0.32% and reached $55.90 per barrel, at the London ICE Futures stock exchange.
IMF Director Doubts Trump Has Clear Plan of Economic Policies
"I don't want to comment on the possible outcome of the policies by President-elect. Because we do not really know what these policies are going to be. We have very little of detailed information as to what what the plan will be, if there is such thing as a plan," Lagarde said at a session at the World Economic Forum meeting in Davos.
The 47th World Economic Forum is Opened in Davos
The 47th World Economic Forum (WEF) Annual Meeting in Davos-Klosters, Switzerland, takes place from 17 to 20 January under the theme “Responsive and Responsible Leadership”. As organizers expected, 3,000 leaders from government, business, academia and civil society are gathered here to help find solutions to the world's biggest challenges.
OPEC Will not Prolong the Agreement of Oil Extraction
Demand will pick up in the summer, and OPEC wants to make sure markets are well-supplied, Khalid Al-Falih said.
Moody's Is Accused of the Financial Crisis of 2008
Moody's said it would pay a $437.5 million penalty to the Justice Department, and the remaining $426.3 million would be split among the states and Washington, D.C.
Will Dollar Become More Expensive Than Euro?
The answer to the question of whether there will be a breakthrough in 2016, and dollar will at last "win" the euro in regard with exchange rate, depends on several factors.
Oil Prices Again Decreased
US benchmark WTI crude was down 10 cents, or 0.22 per cent, at $45.47 a barrel at 0555 GMT. European ICE Brent crude futures fell 11 cents, or 0.24 per cent, to $46.52 per barrel.
World Oil Prices Rise Again
December futures for light WTI oil on New York Mercantile Exchange (NYMEX) rose by 0.12% to $ 49.78 per barrel.
The Fate of Oil Prices Depends on the Principles of OPEC and OPEC Member State Iran
On the other hand it should be noted that OPEC's position has been tough enough for the recent period, as the "information war," not to concede any barrel, ongoing since last year, especially manifested between Saudi Arabia and Iran, is not excluded to exacerbate inner problems within the organization.
The Price of Russian Gas for Belarus will Decrease
From 2017, the cost of gas for Belarus will be formed at the average price of the unified gas supply system of Russia multiplied by the multiplying factor.
50 Dollars/Barrel is a Psychological Threshold for "Black Gold" Market
The reduction of oil production in the US and the news of a new meeting of OPEC countries at the end of September resulted in an increase of oil prices.
Deutsche Bank Ex-Worker Refused Multimillion-Dollar Award
"In this case, top SEC lawyers had held senior posts at the bank, moving in and out of top positions at the SEC even as the investigations into malfeasance at Deutsche Bank were ongoing," Eric Ben-Artzi said in an article published by the newspaper.
World Oil Prices Fall Again
August futures for light WTI oil in New York Mercantile Exchange (NYMEX) fell by 0.62% to $ 45.13 per barrel.
After Failed Negotiations in Qatar Oil Prices Fell
Tensions between Saudi Arabia and Iran were blamed for the failure, which revived industry fears that major government-controlled producers will increase their battle for market share by offering ever-steeper discounts.
Iran Signs Agreement with Greek Hellenic Petroleum
"Being the largest Greek oil company, Hellenic Petroleum remains a traditional costumer of Iranian crude and the first oil shipment will be delivered at the Greek company by the end of March, 2016."
The Consequences of the Initiative to Freeze the Volume of the Exported Oil Are Already Seen
Thus the time for undertaking some steps has come, even if those steps pursue preliminary and sometimes imitational goals.
What is Trans-Pacific Partnership?
The proposal to establish TPP was made in 2003 by the three countries - New Zealand, Singapore and Chile. In 2005, Brunei became a party to the negotiations, and in the same year, the four countries signed an agreement on the establishment of the TTP, which came into force in 2006.
Russia-West Cooperation on the Stabilization of Oil Prices is Temporary
Of course, the dynamics of oil price increase will go in parallel with the negotiation process, but the overall crisis in the market will be eased.
India: Charting a New Reform Path
India has moved up 16 positions to rank 55th on a global index of the world’s most competitive economies compiled by the World Economic Forum.
World Economic Forum to Kick off in Davos
The famous ski resort on January 20-23 will receive about 2.5 thousand delegates from 140 countries.
China's Economic Growth Slowest in 25 years
China's economy grew by 6.9% in 2015, compared with 7.3% a year earlier, marking its slowest growth in a quarter of a century.
The World Economic Forum in Davos: Topics of Discussion
Naturally, the event will be attended by representatives of big business, for example, Mary Barra - the executive director of General Motors, or Satya Nadella - Executive Director of Microsoft, etc.
The Price of Oil Fell after the Removal of Sanctions on Iran
Oil became cheaper on Saturday against lifting the sanctions imposed on Iran and the possible oversupply of the raw materials in the world.
Chinese President Launches Asian Infrastructure Investment Bank
The AIIB is expected to lend $10 billion-$15 billion a year for the first five or six years and will start operations in the second quarter of 2016.
Will Socio-Economic Protests in Azerbaijan Turn into a Political One?
The protests against the increase in food prices and unemployment in Azerbaijan continue. With the requirement to prevent a further rise in prices in Azerbaijan protests were held in Lenkoran, Fizuli, Agjabedi, Agsu and Siyazan.
China Suggests Creating Free Trade Zone in the SCO
"In a narrow format we have just agreed that we will be assigning the ministers of trade and economy to seriously work on developing specific measures to create a free trade zone within the framework of the SCO to create more favorable conditions for the development of trade in the framework of the SCO," he said.
The Possibility of Cooperation Between the Eurasian and European Unions Is Observed
All in all we can state there is mutual commitment for cooperation which is based on the realization of economic profits. And the fact that the economic profit is the most strongest motif is not a secret for anybody.
Chinese Yuan Set to Join IMF Reserve Currency, Christine Lagarde Says
The yuan would join the dollar, the euro, yen and pound as the elite basket of currencies the IMF uses to denominate its special lending reserve. economy and will likely spur the government to move forward with its broader reform plans
IMF Calls on Saudi Government to Speed Up Reforms
"It is important for the government to speed up reforms that increase the employment of nationals in the private sector and diversify the economy, reducing dependence on oil," Lagarde said.
Israel Expects to Sign Agreement with Eurasian Union in Two Years
"We believe that it has great potential for the Israeli economy, and for the countries of the [EEU]. I believe there is no reason to delay this," Elkin stressed.
Moscow and Beijing to Develop Nuclear Energy in Third Countries
We are not just talking about further interaction on Chinese territory...
Free Trade Agreement between EU and EEU?
"Today our countries are faced with a multitude of challenges that do not stop at borders – terrorism, illegal migration, drug and human trafficking, climate change. In order to combat these acute threats, Russia and EU have invested substantial efforts," Chizhov said.
Japan and US United Against Global Economic Slowdown
In addition US President Barack Obama apologised to Tokyo after WikiLeaks claimed Washington had spied on Japanese politicians.
Eurasian Economic Union Ready to Expand Its Free Trade Zone
"Global cooperation is an important trend now. Over 40 countries and international organizations are willing to establish a free trade zone with the EEU," Ulyukaev stated at an East Asia Summit (EAS) in the Malaysian capital.
China and Russia Rival Candidates for Heading AIIB
As for India the ambassador noted that it cannot nominate a candidate, as its representative already heads BRICS' New Development Bank.
The Biggest Lowering of Chinese Yuan's Rate
However, the commerce ministry said the lower rate would boost struggling exports.
Iran Ready to Provide the Transit of Gas from Qatar to Europe
Recently, Iran has also announced about its intention to start talks with Azerbaijan on the joint supply of gas to the world markets.
Gazprom Announced the Construction Cost of the Turkish Stream
At the same time the cost of the construction of the first gas pipeline, which is to bypass Ukraine, will cost 4.3 billion euros.
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22:285 Day Weather Forecast in Armenia
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20:50Armenia PM Son Is Given Military Discharge
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18:42Armen Benyan Appointed Health Minister of Russia's Samara Region
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17:24Government Agrees to Signing Agreement for Reconstruction of Lichk Substation
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16:37Artsakh: Asphalting of up to 400km of Roads Will Be Carried out within the Forthcoming 5 Years
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14:58Russia's FM and his Cyprus Сounterpart Discuss Bilateral Agenda Issues
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14:17Artsakh Republic President Visited the Newly-Opened Drinking Water Bottling Plant and the "Triumph Group" LLC engaged in the Production of Canned Food
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13:33Armenian Tax Revenues Decrease by AMD 17.6 Million in 1st Half of 2020
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12:31Armenia’s PM: Citizen of Armenia Not a Material to Die from Coronavirus
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11:50UN Security Council Rejects Russian-Backed Resolution on Syrian Aid Deliveries
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11:42Artsakh Republic President Received a Group of Reserve Officers
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11:17Trump Hosts Mexican President for First Visit at White House
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11:01Armenia Records 30346 Confirmed Coronavirus Cases
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22:33Armenophobia Is the Last Line of Defense of Aliyev’s Power: Armenia's MFA Spokesperson
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19:54Artsakh's MFA Commented on Announcements of Ilham Aliyev
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17:345 Day Weather Forecast in Armenia
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16:02Who Can No Longer Wear Face Masks Outdoors in Armenia?-New Decision
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14:03Greek Parliament Ratifies Armenia-EU CEPA
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13:35Trump Said His Administration Is Considering Banning the App TikTok
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12:16Russia, China Veto U.N. Approval of Aid Deliveries to Syria from Turkey
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22:41Anouch Toraninan Elected Head of 15th Arrondissement of Paris
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20:48Statement by the Foreign Ministry of the Republic of Artsakh on the Occasion of the 28th Anniversary of the Occupation of the Shahumian Region
Weather
Yerevan
partly cloudy (day)
Humidity: 68%
Wind: 7 km/h
Humidity: 68%
Wind: 7 km/h
20 C°
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11.07.2020
18° 28°
12.07.2020
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