China’s century: Yuan to dethrone US dollar as major global currency, trend forecaster tells Max Keiser
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China has become the only major economy left standing after the coronavirus pandemic rattled global trade and is set to strip the US of its leading positions soon, Gerald Celente, publisher of The Trends Journal, believes. Read Full Article at RT.com
Sales of Russian wheat keep surging amid gloomy export forecasts
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Russia has sold 26.3 million tons of wheat since the beginning of July 2020 through January 14 2021, marking a 22.6 percent surge against the same period a year ago, the latest data by the country’s agricultural ministry shows. Read Full Article at RT.com
Halting Nord Stream 2 construction may result in legal battle, German minister warns
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The decision to build the natural gas link from Russia to Europe was made long ago and ditching the project may lead to an array of legal trouble, Germany’s Minister for Environment, Nature Conservation and Nuclear Safety warns. Read Full Article at RT.com
China’s forex reserves grow by over $100 BILLION in 2020 despite Covid-19 pandemic
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China boosted its foreign exchange reserves by $108.6 billion last year to $3.22 trillion, in spite of the economic fallout of the coronavirus crisis, data from the State Administration of Foreign Exchange (SAFE) showed. Read Full Article at RT.com
Why did bitcoin suddenly erase all of this year’s gains? RT’s Boom Bust has the answer
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The plunge of the world’s largest cryptocurrency by market cap, bitcoin, wiped out millions of dollars from the crypto market earlier this week. RT’s Boom Bust digs into the reasons behind the steep drop. Read Full Article at RT.com
Cost of sanctions: German industry hit hard by anti-Russia measures, survey shows
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Around a half of German businesses polled by one of the nation’s largest economic think tanks, the Ifo Institute, want the EU to lift sanctions against Russia, as the restrictions have hit the German industrial sector hard. Read Full Article at RT.com
Russian gas supplies to Europe via Nord Stream pipeline hit record highs
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Russia pumped 59.2 billion cubic meters of natural gas through the Nord Stream pipeline in 2020, bringing exports via the offshore gas link between Russia and Europe to the highest level ever. Read Full Article at RT.com
Oil prices slide amid concerns flare-up in China Covid cases could weaken fuel demand
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The price of crude dropped on Friday, receding from the 11-month highs hit last week. Experts say the new coronavirus restrictions in China could curb fuel demand for the world’s biggest oil importer. Read Full Article at RT.com
Bitcoin sell-off wipes out $100 billion from crypto market in just two days
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The total market value of all cryptocurrencies has lost about $100 billion over the past 48 hours, after the world’s top digital asset, bitcoin, slumped around 10 percent as crypto fever cooled off. Read Full Article at RT.com
Work-from-home option leaving big cities nearly empty, as RT’s Boom Bust discovers
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San Francisco is now struggling with a mass exodus of tech workers due to the Covid-19 pandemic, with city leaders warning that this will have a severe economic impact. Read Full Article at RT.com
Silk Road trade on track: Freight train sets off from China to Russia, drastically cutting travel time
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A special China-Europe freight train departed from Dongguan in South China’s Guangdong province to Russia on Wednesday. It will arrive in Moscow within 15 days, cutting the travel time by two-thirds compared with the sea route. Read Full Article at RT.com
Pandemic profiteer: Morgan Stanley makes a killing during coronavirus crisis
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Morgan Stanley managed to substantially capitalize in 2020. The US investment bank beat fourth-quarter earnings forecasts to round off the lender’s best year on record. Read Full Article at RT.com
Will staff ‘dog collars’ that buzz be the new workplace accessory in coronavirus era? Boom Bust finds out
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While the largest-ever vaccination campaign is now underway across the world, some companies are exploring new technologies that would help keep employees from getting too close to each other in the workplace. Read Full Article at RT.com
Russia continues ditching US Treasuries as part of state de-dollarization policy
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The Russian central bank has continued getting rid of US Treasury bonds, with the share of investments in American debt shrinking 19.2 percent in November, according to the US Treasury Department. Read Full Article at RT.com
IEA cuts global energy demand outlook as renewed lockdowns weigh on fuel sales
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The International Energy Agency (IEA) has cut its 2021 forecast for oil demand by 0.3 million barrels. It will take more time for oil demand to recover fully as renewed lockdown measures will further limit mobility, the IEA said. Read Full Article at RT.com
EasyJet summer bookings jump 250% on hopes of lockdown restrictions easing
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UK budget carrier EasyJet’s CEO Johan Lundgren said that bookings for this summer with its holidays arm were up 250 percent on last year. The airline industry is hoping for increased demand when lockdown restrictions are eased. Read Full Article at RT.com
Russian gasoline imports surge after lifted moratorium
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Russia’s imports of gasoline surged eight times in November compared to October, after the end of a four-month ban on refined oil product imports ended in October. Read Full Article at RT.com
Heathrow no longer Europe’s busiest airport as pandemic cripples travel demand
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London’s Heathrow Airport has lost its leadership position among European air hubs by the amount of passenger traffic last year, as most countries kept their borders shut to contain Covid-19. Read Full Article at RT.com
Russia plans earliest-ever shipment of Arctic LNG to Asia
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Russian gas producer Novatek plans to send cargo from its Yamal LNG facility to Asian markets via the Northern Sea Route (NSR) in early May with the help of an ice-breaker, sources told Bloomberg. Read Full Article at RT.com
China becomes only major economy to record growth during pandemic
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China’s economy expanded by 2.3 percent last year despite the impact of the coronavirus pandemic. The country’s economic recovery accelerated in the last three months of 2020 and returned to pre-crisis levels. Read Full Article at RT.com
Libya's worn-out pipelines may give more relief to battered oil market
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Crude output of OPEC member Libya has fallen by up to 200,000 barrels a day due to a leaking pipeline, the country’s oil major has announced, noting that production levels can further decrease. Read Full Article at RT.com
Coronavirus to push Hong Kong’s jobless rate beyond 16-year peak
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The economy of the leading Chinese and global financial center, Hong Kong, is still reeling from the pandemic, and its unemployment rate could a reach a new multi-year high, the city’s financial secretary said. Read Full Article at RT.com
One more European firm caves to US pressure on Nord Stream 2 project – media
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One of the largest insurers in Switzerland, Zurich Insurance Group, has decided to sever ties with the Russian-led Nord Stream 2 gas pipeline project amid US sanctions pressure, according to media reports. Read Full Article at RT.com
China may topple US as world’s largest economy sooner than expected
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The world’s second-largest economy China’s GDP is projected to expand 8.2 percent this year, continuing to outpace global peers including the United States, according to a Bloomberg survey of economists. Read Full Article at RT.com
EU wants to shield itself from US sanctions & cut dependence on dollar – reports
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Frustrated by US unilateral sanctions under the Trump administration, the European Commission is reportedly working on a plan to assert its financial and economic autonomy and limit the bloc’s reliance on the greenback. Read Full Article at RT.com
Global smartphone market shrinks almost 9% in 2020 – report
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Worldwide shipments of smartphones tumbled nearly nine percent last year as the coronavirus pandemic took its toll on the global economy, according to analysis by Digitimes Research. Read Full Article at RT.com
Trump wants US government to restrict more goods & services from China
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With just days left in office, US President Donald Trump, has taken another swipe at Beijing, ordering government agencies to look for ways to minimize procurement of Chinese goods and services. Read Full Article at RT.com
US shale could be the biggest winner of the latest OPEC cuts
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OPEC’s major output cut may be a lifeline for US shale, which is struggling under the weight of the new pandemic world order. Read Full Article at RT.com
US blacklists tech giant Xiaomi & major oil producer CNOOC in Trump’s final push against Chinese firms
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The outgoing Trump administration is using its final days to further escalate tensions with Beijing as it blacklists more Chinese firms, including one of the biggest global smartphone makers, Xiaomi, and oil giant CNOOC. Read Full Article at RT.com
Russia's foreign exchange reserves reach almost $600 BILLION
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Russian gold and foreign currency holdings have increased to a total of $597.4 billion as of January 8, according to the latest data released by the country’s central bank. Read Full Article at RT.com
Russia’s Nord Stream 2 is ‘part of a reliable gas supply system’ for Europe for years to come – German MP
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Allegations that the Nord Stream 2 project’s implementation could lead to Europe’s over-reliance on Russian energy supplies are groundless, says a member of Germany’s Social Democratic Party (SPD), Jochen Schulte. Read Full Article at RT.com
Goodbye, Big Tech? People are losing trust in social media platforms, economist tells Boom Bust
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WhatsApp users have been turning to other encrypted messaging services, particularly Telegram and Signal, since the Facebook-owned app updated its privacy terms. The rival apps have now been uploaded millions of times worldwide. Read Full Article at RT.com
China soon to rival NY & London as world’s financial center – Ray Dalio
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It is only a matter of time before China’s financial system becomes a contender for Wall Street and the City of London’s supremacy, according to the founder of investment firm Bridgewater Associates, Ray Dalio. Read Full Article at RT.com
Russia to win back crown of world’s top wheat exporter despite looming quotas & export tax
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Russia will retake the lead in global wheat exports in spite of an upcoming grain export quota and wheat export tax, the US Department of Agriculture (USDA) said in the latest industry outlook. Read Full Article at RT.com
Share of gold in Russian national reserves beats US dollar holdings for first time ever
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The gold share of Russia’s foreign exchange holdings rose to 22.9 percent over the year to June 30, 2020, according to data revealed by the country’s central bank. Read Full Article at RT.com
India to see quickest economic rebound in Asia, says UBS
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A new report by UBS Global Research has projected India’s economic growth as reaching a multi-decade high in 2022. Its economy is expected to clock the fastest growth of all Asian nations, it said. Read Full Article at RT.com
Russian Arctic sea route shipping tops 33 million tons in 2020
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The volume of cargo transported via Russia’s Northern Sea Route (NSR) is constantly growing and has increased by 4.7 percent year-on-year in 2020, said the State Atomic Energy Corporation Rosatom. Read Full Article at RT.com
Twitter stock crashes after company permanently bans Trump’s account
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Twitter shares dropped over eleven percent on Monday after the social networking service permanently removed US President Donald Trump from its platform, following last week’s violent protests by his supporters on Capitol Hill. Read Full Article at RT.com
Freight traffic between China & Europe hit all-time high in 2020
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A record 12,400 freight-train trips between China and Europe were made in 2020, according to the China State Railway Group. That’s up 50 percent from the previous year, the railway operator said. Read Full Article at RT.com
Tesla is making a major push for Chinese market share
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Tesla is shaking up the competition once again with the release of its new Model Y in China for a lower-than-expected price that’s reportedly causing a run of advance orders. Read Full Article at RT.com
