Depository of News

Russia could gain from trade wars by cornering new markets – economy minister

Trade wars between the United States and China could benefit Russia, according to the Russian Economic Development Minister Maksim Oreshkin. With tariffs growing, Russia could substitute American goods in China and India. Read Full Article at

Fitch slashes global economic growth forecast over US-China trade war

International rating agency Fitch has downgraded its 2019 global GDP forecast. The worsening trade conflict between Washington and Beijing is behind the decision, it said. Read Full Article at

US sanctions are sign of dollar crisis & decline of confidence – Lavrov

The US dollar system has completely discredited itself and the confidence in the greenback is falling very sharply, according to the Russian Foreign Minister Sergey Lavrov. Sanctions by Washington are a sign of that. Read Full Article at

Economic cold war may be coming, JPMorgan warns

Tit-for-tat tariffs between the world’s two largest economies, China and the United States, may be the beginning of a prolonged economic conflict, analysts say, adding that each of the two countries pursues its own development. Read Full Article at

Trump is obsessed with auto trade, French ambassador to the US says

The White House may halt lengthy trade talks with the European Union and scrap any possible deal to issue crippling tariffs against products imported from members of the bloc, warns the French Ambassador to the US Gerard Araud. Read Full Article at

Trump demands OPEC lower oil prices, claims US ‘protects’ Middle East countries

US President Donald Trump has accused OPEC’s Middle East producers of “pushing for higher and higher oil prices.” Trump, who is a proponent of cheap crude, has told OPEC countries they would not be safe for long without the US. Read Full Article at RT.c

Russia can thrive without foreign loans in case of tougher sanctions – Finance Ministry

Moscow may stop using outside borrowings, replacing them with internal financial sources, if international penalties against Russia are deepened, according to Russia’s Finance Minister Anton Siluanov. Read Full Article at

Global economic growth may have reached peak due to trade tensions – OECD report

Expansion in the global economy is slowing down as uncertainties intensify, the Organisation for Economic Cooperation and Development (OECD) has warned. Read Full Article at

US-China tariffs exchange could have 'significant economic costs' to global economy - IMF

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Russian stock market hits another all-time high amid further ruble growth

The Ruble-traded MOEX stock index is enjoying a bumper week as it reaches all-time highs on an almost-daily basis.The growth is linked to the strengthening Russian currency despite a threat of new US sanctions and high oil prices. Read Full Article at

Beijing plans to cut import tax for most trading partners as trade war with US deepens - report

China’s government is reportedly planning to curb the average tariff rates on imports from most of its trading partners as soon as October in an attempt to bring down consumer costs amid growing trade tensions with the US. Read Full Article at

Volkswagen agrees pull-out from Iran to comply with US sanctions – reports

Weeks of negotiations with the Trump administration have ended with carmaker Volkswagen (VW) agreeing to cease most of its operations in Iran, said US Ambassador to Germany Richard Grenell, as cited by Bloomberg. Read Full Article at

Alibaba’s Ma says Trump’s trade war ‘destroyed’ his promise to create jobs for 1mn Americans

Alibaba’s executive chairman Jack Ma has said that his promise to Donald Trump to create one million jobs in the US is no longer valid and viable after Washington slapped Beijing with new round of tariffs on $200bn worth of goods. Read Full Article at

Hackers mine bitcoin & other cryptos using leaked spy tool from US govt – report

Bitcoin, monero and other popular cryptocurrencies are being mined by fraudsters who use EternalBlue, the US National Security Agency (NSA) hacking tool that was leaked last year, according to a recent report. Read Full Article at

No such thing as crime in Britain if you’re an aristocrat – RT’s Keiser Report

The royal tax authority HMRC (Her Majesty’s Revenue and Customs) has admitted allowing Britain’s most powerful members of society to escape prosecution for financial crimes. Read Full Article at

China slashes US Treasury securities to six-month low as trade tensions mount

The biggest holder of US Treasury bills, notes and bonds – China – has dropped $7.8 billion worth of US sovereign debt as a large-scale trade conflict, launched by Washington earlier this year, breaks new ground. Read Full Article at

India suggests setting up special economic zone for Russian companies

New Delhi wants to encourage Russian investments and has invited the country’s companies to explore business opportunities and strengthen bilateral economic ties, Commerce and Industry Minister Suresh Prabhu has said. Read Full Article at

‘Turkey not America’: Erdogan continues crackdown on US dollar in favor of lira

There is no economic crisis in Turkey, according to President Recep Tayyip Erdogan. Turkey will extend the use of the domestic currency, the lira, as a substitute for the US dollar, he said. Read Full Article at

EU to scrap lawsuit against Ireland after Apple pays back taxes

European Union antitrust regulators plan to drop legal action against Ireland after iPhone maker Apple paid the country €13.1 billion ($15.3 billion) in back taxes. Read Full Article at

Trump’s tariffs to sting US businesses in China, but not force them to move back home – AmCham China

Washington’s latest decision to impose new tariffs on $200 billion worth of Chinese exports won’t make China-based American companies relocate to the US, but will “cause suffering” for them, the American Chamber of Commerce says. Read Full Article at

Hungary wants Russia's Turkish Stream pipeline to be extended into Europe – Orban

The Hungarian Prime Minister Viktor Orban has asked Russia to extend the Turkish Stream natural gas pipeline to his country and further into Europe. Read Full Article at

New Tesla killer: Audi’s all-electric crossover may devour Elon Musk’s lunch

Volkswagen-owned premium brand Audi has unveiled the E-Tron, a battery-powered crossover, which is just about to hit dealerships, making the market of electric vehicles rather more choiceful for eco-friendly enthusiasts.     Read Full Article at

Beijing says filed complaint to WTO against latest US tariffs

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US-China trade war could last 20 years, warns Jack Ma

Chinese billionaire and Alibaba founder Jack Ma said on Tuesday that trade frictions between Washington and Beijing could last for two decades and would be “a mess” for all parties involved. Read Full Article at

Russian stock market hits all-time high as ruble strengthens despite US sanctions pressure

The recent growth in the Russian currency has helped the ruble-traded MOEX index reach an all-time high on Tuesday. Read Full Article at

EU probes Germany's ‘circle of five’ carmakers over clean emissions technology

The European Commission said on Tuesday it had opened a formal investigation into whether German carmakers BMW, Daimler and Volkswagen Group had colluded to avoid competition in developing clean emission technology. Read Full Article at

BRICS bank ‘successfully implements’ projects worth $5.7 billion

The infrastructure bank run by developing BRICS countries has been successfully implementing its projects, according to its senior manager. Read Full Article at

China says it will levy retaliatory tariffs on September 24, simultaneously with Washington

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Choo-choo without CO2: World’s first hydrogen-powered train enters service in Germany

One of Europe's largest railway manufacturers Alstom has launched the first CO2-emission-free train powered by hydrogen. Dubbed ‘hydrail,’ the Coradia iLint train began operating in Germany. Read Full Article at

Credit Suisse lambasted by financial watchdog over FIFA money laundering

Switzerland’s financial supervisor FINMA says one of the country’s largest banks, Credit Suisse, failed to properly oversee its anti-money laundering procedures for FIFA, as well as Brazil’s and Venezuela’s state oil companies. Read Full Article at RT

Priority market: China Railway to build infrastructure for Russia’s Far East

Chinese state-run corporation China Railway says Russia’s Far Eastern Federal District is currently one of the priority markets for expanding the company’s core operations as part of the Belt and Road Initiative. Read Full Article at

'Save yourself if you can': More countries are seeking ways to dump the US dollar – Kremlin

Countries around the globe are trying to find ways of substituting the US dollar in trade, according to Russian presidential spokesman Dmitry Peskov. Read Full Article at

Russia’s energy minister slams Washington’s sanctions on Iran as ‘unproductive’ & ‘wrong’

There will be consequences as a result of the United States’ sanctions on Iran's oil industry which are due to be re-imposed in November, Russian Energy Minister Alexander Novak has said. Read Full Article at

No deals ‘at gunpoint’: China mulls dropping trade talks, slapping US firms with sanctions – report

Beijing reportedly eyes rejecting Washington’s offer of new trade talks amid media buzz on President Donald Trump’s alleged go-ahead for sweeping tariffs. China could instead stop supplying some vital materials to US firms. Read Full Article at

Cowboy to soy boy: Americans consuming more fake meat & dairy than ever

A new study by the Good Food Institute (GFI), which represents the plant-based foods industry, found that sales of substitutes for animal products have exceeded $3.7 billion. Read Full Article at

US sanctions 'bill from hell' targeting Russian debt could backfire on Western allies – analyst

The proposed US sanctions targeting Russian bonds, OFZs, will likely hurt not only Moscow, but also numerous holders of such bonds in the West, an analyst has said. Read Full Article at

World’s five most expensive precious metals

If you think gold or silver are the most expensive metals in the world because we call them “precious,” you are wrong. Here’s a list of five most valuable metals. Read Full Article at

Wall Street bankers never punished for massive fraud leading to 2008 financial crisis

As the world marks the 10th anniversary of the worst financial crash in recent history, it's worth looking into who was held responsible for knowingly issuing fraudulent mortgages that led to the crisis. Read Full Article at

No lessons learned: Next financial crisis to be much worse with US dollar collapse – Peter Schiff

A decade after the global financial crisis, the world is facing another crash even bigger than the one in 2008, veteran stock broker Peter Schiff, CEO of Euro Pacific Capital, told RT. Read Full Article at
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