Via RT Business Russian gold and foreign currency holdings hit almost $569 billion as of July 1, according to the latest data released by the country’s central bank. The international funds increased by $2.7 billion, or around 0.5 percent, compared to the previous month. They rose by more than $50 billion since last July. The...
Via RT Business Exports of Russian grain are expected to total 41.7 million tons in the current agricultural season, according to the Russian Federal State Statistics Service. Supplies of wheat to the global market may reach 33.2 million tons. That’s in line with pre-pandemic projections from industry experts, who said in February deliveries could be...
Via RT Business After having gone below zero this year due to the coronavirus pandemic and to disagreements between global oil producers, the price of crude has all the chances of rebounding significantly from these historic lows. That’s according to the estimates of analysts, who told The Wall Street Journal that investment in oil and gas...
Via RT Business China’s Civil Aviation Administration (CAAC) revealed on Friday that the nation’s air travel industry has lost 34.25 billion yuan ($4.89 billion) in the second quarter of the year, slightly less than the $5.43-billion loss in Q1. China’s aviation industry, which includes airlines, airports and other aviation companies, has been recovering faster than...
Via RT Business Threats to oil shipping routes are nothing new to the oil market. It has endured Iran seizing tankers in the Strait of Hormuz, and it has endured Iran’s repeated threats to close this most important chokepoint in the world. But what the oil market is perhaps not prepared to shrug off are...
Via RT Business Shares of Chinese e-commerce giant Alibaba soared over 10 percent, allowing it to overtake US social media firm Facebook by market capitalization and climb higher among the world’s most valuable firms. Alibaba stock enjoyed its biggest one-day percentage gain since its secondary listing in Hong Kong in November. At $261 per share,...
Via RT Business Another 1.4 million Americans are expected to have filed for unemployment in the week ending July 4, with the coronavirus pandemic still raging in the country. The US Labor Department is set to release weekly data later on Thursday. According to economists’ forecasts, initial jobless claims are set to stand at around...
Via RT Business Russian-flagged pipelayer Fortuna has departed from the German port of Mukran and entered Danish waters, shortly after Copenhagen expanded the list of ships allowed to participate in construction of the Nord Stream 2 gas pipeline. Data from vessel tracking websites showed that Fortuna was sailing in Danish waters in the Baltic Sea...
Via RT Business While not explicitly banning Huawei 5G equipment, France is gradually phasing out the Chinese tech giant from the nation’s next-generation networks, according to a lawmaker in President Emmanuel Macron’s party. Earlier this week, the head of French cybersecurity agency ANSSI said that there would be no blanket ban on Huawei’s participation in...
Via RT Business The construction of the last stretch of the Nord Stream 2 pipeline may be stalled for a month or two despite permission from Denmark to work in its territorial waters. The latest stumbling block comes in the form of spawning cod. Earlier this week, the Danish Energy Agency (DEA) said that the...
Via RT Business India’s Commerce and Industry Ministry is considering stricter scrutiny of goods coming from Bangladesh, Sri Lanka, South Korea, and the Asia bloc. The move aims to stop banned Chinese imports coming through these countries. New Delhi had earlier imposed 100 percent physical checks of shipments from China. The new regulations on Chinese...
Via RT Business Tesla’s website briefly crashed this week as CEO Elon Musk launched the sale of red satin shorts, lampooning investors who are betting against the electric carmaker. The limited-edition garment, available for “Only $69.420,” was out of stock just hours after Musk made the announcement late Sunday on Twitter. In addition to the...
Via RT Business The MSCI index of developing-world stocks rose 1.8 percent on Monday to its highest level since February 26. The growth comes as strong economic data from emerging markets gave investors hope of an economic recovery. Chinese stocks were the biggest boost to the index, as the country’s business activity recovered steadily. Strong...
Via RT Business In a sharp U-turn, the UK government is reportedly planning to ban Huawei equipment from the nation’s next-generation networks by the end of the year. In January, London allowed the company a limited role in Britain’s 5G networks. According to media reports, the policy reversal was driven by a branch of British...
Via RT Business Global working hours are expected to have plummeted by 14 percent in the second quarter of 2020 as a result of the Covid-19 pandemic, according to the International Labour Organization (ILO). The fall is the equivalent to 400 million full-time job losses globally in the second quarter, based on a standard 48-hour...
Via RT Business Russian gold and foreign currency holdings have increased to a total of $568.3 billion, according to the latest data released by the country’s central bank. The international funds increased by $500 million, or nearly 0.1 percent, as of June 26, compared to the previous week, and are up around $9 billion since...
Via RT Business A free-trade agreement between the Russian-led Eurasian Economic Union (EEU) and Israel may be concluded in 2020, according to Israel’s Charge d’Affaires Yacov Livne. “One important issue that we are addressing is a free-trade zone between Israel and the Eurasian Economic Union. I think there are all possibilities to finalize the talks...
Via RT Business India’s forex reserves rose by $8.2 billion in the week of June 5, crossing the $500 billion milestone for the first time in the country’s history. The level of reserves is enough to cover 13 months of imports. The growth came on the back of a rare current-account surplus in the first...
Via RT Business The US economy added 4.8 million jobs in June, with the unemployment rate declining to 11.1 percent as business resumes. However, a surge in new infections is expected to slow the reopening of the economy. The jobs report was released a day earlier than usual because of the Independence Day holiday. The jobs...
Via RT Business Chinese-owned Swedish car manufacturer Volvo is recalling nearly 2.2 million vehicles worldwide over concerns that the seatbelts could be less effective over time. The recall is the biggest ever for the brand. The company’s press spokesman, Stefan Elfstrom, told Swedish media that it discovered the “rare” problem with the seatbelts in some...