Russia’s foreign exchange reserves reach record $600 billion
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Russia’s gold and foreign currency holdings hit a record high of $600.9 billion after a gain of more than 1% week-over-week, according to data published by the country’s central bank. Read Full Article at RT.com
Chinese yuan strengthens against major peers as Beijing slackens reins
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The Chinese yuan pushed higher on Thursday, with the currency hitting its strongest level since March 2016 against a broad basket of peer currencies. Read Full Article at RT.com
Iran is banning electricity-sapping cryptocurrency mining until the end of September as it grapples with power blackouts amid electricity scarcity. Read Full Article at RT.com
Bezos to relinquish role as Amazon CEO on July 5, turn more attention to space business & mammoth yacht
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Jeff Bezos has announced that he will step down as Amazon's chief executive on July 5, freeing up time for his spaceship company, the Washington Post, philanthropic ventures and his nearly completed $500 million yacht. Read Full Article at RT.com
Iran has 69 million barrels of oil ready for when US sanctions end
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Iran may have some 69 million barrels of oil in floating storage waiting on tankers to travel to buyers when US sanctions on its crude oil exports are removed, estimates from E.A. Gibson Shipbrokers cited by Bloomberg show. Read Full Article at RT.com
The Chinese currency advanced to its strongest level against the US dollar in three years as global investors look for safer assets amid China’s strong economic rebound and the continuing depreciation of the dollar. Read Full Article at RT.com
India to avoid recession with economy forecast to grow despite Covid crisis
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India’s rating agency ICRA on Monday projected a 2% uptick in growth during the fourth quarter (January-March) of 2021, averting a double-dip contraction forecast by the National Statistics Office (NSO) for Q4. Read Full Article at RT.com
China cools off soaring industrial metal prices amid post-pandemic demand surge
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Industrial metals prices fell on Monday after Chinese regulators urged domestic commodity companies to maintain “normal market orders.” Global metal prices have been surging lately due to post-pandemic demand from major economies. Read Full Article at RT.
US oil & gas infrastructure crisis may be worse than thought
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The US oil and gas infrastructure crisis appears to be worse than originally thought, with the impact of the Texas storm earlier this year highlighting major problems. Read Full Article at RT.com
Crypto crash? Bitcoin loses half its value from year’s high
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Bitcoin nosedived another 13% on Sunday, dropping to around $31,227. The latest selloff left the world’s top cryptocurrency down over 50% from its mid-April peak. Read Full Article at RT.com
Fortuna pipe-laying vessel resumes work on Nord Stream 2 in German waters
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The Fortuna pipelay barge has resumed construction work on the Nord Stream 2 gas pipeline in German waters, according to the MarineTraffic global ship tracking system and Germany’s Federal Maritime and Hydrographic Agency (BSH). Read Full Article at RT.com
Global oil demand is recovering with major economies reopening amid a cautious supply approach from OPEC+ and restraint in US shale, Barclays says. Read Full Article at RT.com
Digital yuan not designed to displace US dollar, says former head of China’s Central Bank
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China’s new sovereign digital currency is not meant to replace the US dollar as an international reserve and payment currency, and is instead aimed at meeting the needs of the internet era, especially for retail payments. Read Full Article at RT.com
Long working hours killing 745,000 people a year – research
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A joint study by the World Health Organization (WHO) and the International Labour Organization (ILO) found that hundreds of thousands of people worldwide die every year as a result of long working hours. Read Full Article at RT.com
Russian govt gives go-ahead for piling of National Wealth Fund into gold bullion
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The National Wealth Fund (NWF) has received the green light to diversify assets by investing in gold as the country’s Prime Minister Mikhail Mishustin signed the relevant order on Friday. Read Full Article at RT.com
Bitcoin sees another daily crash of 10% as China vows to clamp down on mining & trading
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As Chinese financial regulators go all out after bitcoin miners and traders, the world’s number one cryptocurrency touched another low for the current month, with the price of the token slipping below $35,000. Read Full Article at RT.com
Who is at fault for causing the recent US fuel shortage? RT’s Boom Bust wants to know
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In a fresh twist to the ongoing US fuel shortage saga, executives at Colonial Pipeline may be responsible for the shutdown which led to a gasoline crisis on the US East Coast, not the hackers. Read Full Article at RT.com
Tesla looking at Russia as a potential production hub – Elon Musk
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Tesla CEO Elon Musk says the US electric carmaker is exploring opportunities for establishing a presence in Russia and opening production lines in the country. Read Full Article at RT.com
Investors can’t get enough of Russian bonds targeted by US sanctions
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The Russian Ministry of Finance has issued euro-dominated obligations worth €1.5 billion ($1.8 billion), marking the first international bond sale of 2021. Read Full Article at RT.com
Bitcoin climbs back above $42,000 after brutal cryptocurrency market selloff
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The world’s top digital asset, bitcoin, is clawing back some the losses it sustained during the previous session, amid a massive cryptocurrency market selloff. Read Full Article at RT.com
Face-saving fakery: Biden administration’s caving in by waiving sanctions on Nord Stream 2, Professor Wolff tells Boom Bust
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Washington has declined to impose sanctions on Nord Stream 2 AG, a Swiss-based subsidiary of Russia’s Gazprom that’s in charge of the construction of a natural gas pipeline from Russia to Germany. Read Full Article at RT.com
Russia to reveal prototype of its digital ruble in late 2021 – Central Bank
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The Central Bank of Russia will launch a prototype of the digital ruble, a new form of national currency, by as early as the end of the current year, the regulator has confirmed. Read Full Article at RT.com
Russia & China agree to expand joint nuclear energy project
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Russian President Vladimir Putin and his Chinese counterpart, President Xi Jinping, have officially launched the construction of new reactors at two nuclear power plants in China. Read Full Article at RT.com
‘America has a very nasty oligarch problem’ – RT’s Keiser Report
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Max Keiser and Stacy Herbert talk about the Covid pandemic and all other problems crippling the US economy. There’s currently “one crisis on top of another, multiple crises all stacked up,” Max points out. Read Full Article at RT.com
Iran is planning an oil export boost once US lifts sanctions
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Iran is preparing to boost production and exports of crude oil as talks on the nuclear deal with the United States continue to progress, government officials said, as quoted by Bloomberg. Read Full Article at RT.com
Russian agricultural exports to China continue to grow despite pandemic
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Supplies of Russian agricultural products and foodstuffs (excluding fishery products) to China increased by 17.6% in the first quarter of this year, according to Russia’s trade representative to China, Alexey Dakhnovsky. Read Full Article at RT.com
Investments worth almost $25 billion inked at Silk Road expo
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A number of cooperation deals involving investments of 158.3 billion yuan ($24.6 billion) were sealed at the Fifth Silk Road International Exposition in China, Xinhua News Agency reported. Read Full Article at RT.com
Italy’s sovereign debt has reached a new all-time high of more than €2,650 trillion, according to the Bank of Italy, which reported a massive month-over-month increase of €6.9 billion in March alone. Read Full Article at RT.com
Global investor appetite for Chinese bonds continues to grow, with holdings up by $10 BILLION in April
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The total amount of yuan bonds owned by overseas institutions reached 3.22 trillion yuan (over $500 billion) as of the end of last month, according to data from China Central Depository & Clearing (CCDC). Read Full Article at RT.com
With central bank-issued digital currencies we are on the road to civilization collapse – RT’s Keiser Report
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Max Keiser interviews Aleks Svetski, the founder and CEO of crypto investment platform Amber, about central bank digital currencies and fiat communism. Read Full Article at RT.com
Crypto usage currently in kind of phase comparable to early days of cell phones – Coinbase
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The cryptocurrency industry has done a great deal in terms of adoption, products, and services since bitcoin’s launch more than a decade ago. Still, crypto usage needs to be easier and more accessible. Read Full Article at RT.com
Russia looks to retire pricey ruble bonds to ensure economic stability
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Russia’s Ministry of Finance is considering a buyback of floating-rate ruble bonds sold to boost emergency funds amid the Covid-19 pandemic, according to Deputy Finance Minister Timur Maksimov. Read Full Article at RT.com
US capital running out of gas despite Colonial Pipeline resuming operations
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Gas station outages in Washington climbed to 88% on Friday from 79% the day before, data from tracking firm GasBuddy showed. The surge comes as the country’s largest fuel pipeline system scaled up deliveries after a cyberattack. Read Full Article at RT.com
Semiconductor chip shortage expected to cost automakers $110 billion in revenues in 2021
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Global car manufacturers could lose as much as $110 billion due to the ongoing shortage of semiconductor chips, according to consulting firm AlixPartners. Read Full Article at RT.com
Going green on Elon: Tesla hit with second Solar Roof lawsuit as customer says price was more than DOUBLED after contract signed
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Elon Musk’s Tesla is facing a class action lawsuit from a customer claiming the company raised the price of his solar panels by more than $70,000 after he’d signed contracts. Read Full Article at RT.com
Will Boeing’s troubled 737 MAX ever get off the ground? RT’s Boom Bust finds out
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The Boeing 737 MAX is set to return to the skies, one month after an electrical issue forced the company to ground around 100 planes. Read Full Article at RT.com
The oil pipeline that will expand China's influence in Africa
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Egypt is a highly strategic partner in the Middle East, and the China-Iran bloc is looking to expand influence in Africa through the extension of a current oil pipeline that runs from Iraq to Jordan. Read Full Article at RT.com
US panic-buying feeds into fuel shortage, sending gasoline prices higher – analyst
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Panic-buying and fuel-hoarding after the recent outage of the Colonial Pipeline network is the cause of the US gasoline price spike, according to the chairman of Alfa Energy John Hall. Read Full Article at RT.com
Russian-born Ethereum creator Vitalik Buterin donates $1 BILLION in crypto to pandemic-hit India
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In a major philanthropy move, Ethereum co-founder Vitalik Buterin donated $1.5 billion worth of cryptocurrencies to several non-profit organizations. The giveaway includes $1 billion sent to a Covid-19 relief fund in India. Read Full Article at RT.com
