Depository of News

Let’s replace US dollar with Russian gold, Moscow exchange chief suggests

Russian gold could become the perfect alternative to conservative investments in the greenback, the CEO of Russia’s key trading floor, Moscow Exchange (MOEX), believes. Read Full Article at RT.com

Russia aims to boost trade with Japan to $30 billion

Trade between Russia and Japan grew by 20 percent to $20 billion last year, Economic Development Minister Maksim Oreshkin has said. He met with his Japanese counterpart Hiroshige Seko in Moscow on Tuesday. Read Full Article at RT.com

EU fines Mastercard $650 million for breaking antitrust laws

The European Commission has fined US payment system Mastercard €570 million ($648mn) for limiting the possibility for merchants to benefit from better conditions offered by banks established elsewhere across the EU. Read Full Article at RT.com

Russia House in Davos opens doors to guests & international business

The World Economic Forum (WEF) 2019 kicked off in Davos, Switzerland on Tuesday welcoming participants from 50 countries. The official Russian residence, Russia House, will also host business events till January 25. Read Full Article at RT.com

Russia cuts foreign debt to decade low while boosting national reserves

Russia’s external debt has fallen by $64.4 billion or 12.4 percent from the beginning of last year, amounting to $453.7 billion as of January 1, 2019 – the lowest level since April 2009, according to Central Bank of Russia data. Read Full Article at RT.co

Japan resumes oil imports from Iran after latest US sanctions

Tokyo has resumed purchases of Iranian oil for the first time since suspending imports in line with US sanctions against the Islamic Republic, according to reports citing a Japanese refinery and the head of Iranian Central Bank. Read Full Article at RT.com

‘World economic expansion losing momentum’: IMF cuts global growth forecasts

Risk of a sharper decline in global growth has increased, according to the International Monetary Fund (IMF), which urged the United States and China to resolve their trade war. Read Full Article at RT.com

Germany has no legal grounds to meddle in Russian gas pipeline project to Europe – Berlin official

The German government has no legal basis to interfere in the Nord Stream 2 pipeline construction, Federal Minister for Economic Affairs and Energy Peter Altmaier said as he hit back at critics of the Russian-led gas project. Read Full Article at RT.com

South Africa considers bailing out crisis-hit neighbor Zimbabwe

The spiraling economic meltdown in Zimbabwe has prompted South African authorities to think about extending short-term credit to Harare and helping it to write off a $7.4-billion external debt. Read Full Article at RT.com

Germany has no legal grounds to meddle in Nord Stream 2 project – Berlin official

The German government has no legal basis to interfere in the Nord Stream 2 pipeline construction, Federal Minister for Economic Affairs and Energy Peter Altmaier said as he hit back at critics of the Russian-led gas project. Read Full Article at RT.com

Huge backlog could trigger new wave of shale oil

The number of drilled but uncompleted wells (DUCs) in the US shale patch has skyrocketed by roughly 60 percent over the past two years. Read Full Article at RT.com

Inequality at record levels as new billionaire emerges every 2 days – Oxfam

The gap between the super-rich and the rest of the world has never been wider, with 26 people now owning the same amount of wealth as 3.8 billion of the less privileged, global charity Oxfam said in a new report. Read Full Article at RT.com

On track: First kilometer of train link to Crimean Bridge complete

Train movement on the railway part of the newly-built Crimean Bridge is scheduled for December. The railroad across the bridge will link the transport systems of Crimea and mainland Russia. Read Full Article at RT.com

Economic boom for whom? Keiser Report examines America’s disappearing middle class (VIDEO)

The US economy is booming – but fewer and fewer are reaping the benefits. The Keiser Report crunched the numbers behind America’s dwindling middle class, and warned that the country’s young are in for a rough, debt-ridden future. Read Full Article at RT

Canadians cry oil crisis as pipeline problem grows worse

Sixty percent of Canadians now feel that the country’s oil pipeline capacity has reached crisis levels, according to a new survey from the Angus Reed Institute. Read Full Article at RT.com

Cross-border bridge connecting Russia & China to open in 2020

The construction of a long-awaited bridge across the Amur River, aimed at connecting Russia’s Far East city of Blagoveshchensk with the northeastern Chinese city of Heihe, will be completed next year. Read Full Article at RT.com

Lords of war: US weapons factories dominate global arms trade

The latest report by Stockholm International Peace Research Institute (SIPRI) revealed that sales of arms and military services by global majors totaled $398.2 billion in 2017, marking a 44 percent growth over the past 15 years. Read Full Article at RT.com

Tesla to sack over 3,000 workers amid poor profits and Model 3 production challenges

Electric car maker Tesla is planning to fire around seven percent of its full-time staff, as the road ahead will be “very difficult,” according to an email sent to employees by CEO Elon Musk. Read Full Article at RT.com

Fueled by Western sanctions Russia outshines China to become world’s 5th biggest holder of gold

The Central Bank of Russia reported purchasing 8.5 million troy ounces of gold in January-November 2018. With its 67.6 million ounces of gold Russia is now the world's fifth largest holder behind the US, Germany, France and Italy. Read Full Article at RT.com

Swiss court overturns arrest of Russia’s Gazprom assets which Ukraine claims were seized

Switzerland's high court has overruled an injunction blocking payments from the operators of the Nord Stream gas pipeline at the request of Ukrainian state gas firm Naftogaz, according to Russian energy giant Gazprom. Read Full Article at RT.com

JPMorgan raises boss Dimon’s pay to a sweet $31 million, topping pre-crisis record

Wall Street banking giant JPMorgan has awarded its chief executive Jamie Dimon $31 million in total compensation for his work in 2018. The pay exceeds his record compensation of $30 million in 2007 before the financial crisis. Read Full Article at RT.com

Tesla to recall over 14,000 Model S cars in China amid industry-wide crackdown on exploding airbags

Tesla is recalling 14,213 Model S vehicles produced between 2014 and 2016 over defective airbags that could blow up and send shrapnel into the driver's and front seat passenger's faces, a Chinese watchdog has said. Read Full Article at RT.com

Tesla to recall over 14,000 Model Ss in China amid industry-wide crackdown on exploding airbags

Tesla is recalling 14,213 Model S vehicles produced between 2014 and 2016 over defective airbags that could blow up and send shrapnel into the driver's and front seat passenger's faces, a Chinese watchdog has said. Read Full Article at RT.com

Tesla to recall over 14,000 Model S in China amid industry-wide crackdown on exploding airbags

Tesla is recalling 14,213 Model S vehicles produced between 2014 and 2016 over defective airbags that could blow up and send shrapnel in the driver's and front seat passenger's faces, a Chinese watchdog has said. Read Full Article at RT.com

Out of this world: Crimea’s cosmic spaceship hotel welcomes first guests (VIDEO)

A truly extraordinary hotel has opened its doors to tourists in the small Russian town of Alushta in Crimea. The new spaceship-themed complex is also a museum and entertainment center all-in-one. Read Full Article at RT.com

Russia to boost investment in Serbian economy & increase gas supplies

Russia’s sovereign wealth fund and its partners are planning to increase investments in Serbia, with $500 million likely to be added in the next two years. Current Russian investments in the country total $2 billion. Read Full Article at RT.com

EU curbs steel imports until 2021 to counter US trade policies

The European Union has set restrictions on imports of steel to the bloc in response to US President Donald Trump’s imposition of tariffs on metals imported into the US. Read Full Article at RT.com

All that glitters isn't gold: Palladium hits all-time record as deficit boosts prices

The price for palladium has surged to record-high levels on lower supply and increasing demand for the precious metal that is vital for the auto-making industry. It continues to beat gold as the world's best commodity investment. Read Full Article at RT.com

Russia’s trade surplus poised to smash pre-sanction record — reports

Russia is on track to break its own record trade surplus that had been reached in 2011, two years before the US and its Western allies imposed economic sanctions on the country, reports French business daily Les Échos. Read Full Article at RT.com

Russia looks to build ‘LNG Island’ to supply booming Asian market

Russia’s largest LNG (liquefied natural gas) producer is looking to boost supply to the fast growing Asian markets by upgrading its facilities in the Far East. Read Full Article at RT.com

United States considers hitting Venezuela with oil embargo

The White House National Security Council has told some US refiners that sanctions on Venezuelan crude exports are under consideration, S&P Global Platts reported, citing sources familiar with the issue. Read Full Article at RT.com

John Bogle, millionaire & Warren Buffet's 'hero', who paved way for low-fee investing, dies at 89

Vanguard Group founder John Bogle has died at the age of 89, his family has confirmed. Bogle is known as a pioneer of low-cost index funds, whose visionary ideas have enabled ordinary Americans to save money through investment. Read Full Article at RT.com

Brexit deal dead and markets couldn’t care less… Boom Bust asks why

Neither the British national currency, nor the financial markets seem to have reacted to the overwhelming rejection by UK parliament of Prime Minister Theresa May’s Brexit plan. Read Full Article at RT.com

Oil markets could see deficit in 2019

The OPEC+ cuts and slowing shale growth are likely to tip the scales in oil markets, and among others, Bank of America now sees a small deficit later this year. Read Full Article at RT.com

Russian economy minister to lead country’s delegation to Davos

The Russian delegation to the World Economic Forum (WEF) in Davos, Switzerland will be led by Economic Development Minister Maksim Oreshkin, Russia’s Energy Minister Aleksandr Novak said on Wednesday. Read Full Article at RT.com

Ain't 'lovin' it': McDonald's loses 'Big Mac' trade mark battle in EU

The European Union Intellectual Property Office ruled on Tuesday that US fast food giant McDonald’s has failed to prove “genuine use” of the Big Mac trademark as a burger or restaurant name. The ruling takes effect immediately. Read Full Article at RT.c

Sanctions? Russian economy to overtake Germany’s by 2020 – report

Despite years of Western sanctions, Russia will become the world’s fifth-largest economy as early as next year, surpassing Germany and the UK, multinational bank Standard Chartered said in its long-term growth forecasts. Read Full Article at RT.com

Russia’s gold & foreign currency reserves surge for third consecutive year

The Central Bank of Russia reports that foreign exchange reserves saw a significant boost of 8.3 percent over the 12 months through January 1 of the current year. Read Full Article at RT.com

Expect a wild ride for the British pound – Professor Steve Keen

The UK Parliament is set to vote on Prime Minister Theresa May’s Brexit plan on Tuesday. Analysts expect losses for sterling if the deal is rejected. Read Full Article at RT.com

Russia’s diamond titan returns to Zimbabwe to help country regain its former luster

The world’s largest diamond producer, Russia’s Alrosa, is ready to launch operations in Zimbabwe two years after mining projects in the crisis-stricken country were shelved, the company chief executive Sergey Ivanov said. Read Full Article at RT.com
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