European gas prices to increase further in event of harsh weather, Wintershall CEO says
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A severe winter in Europe would likely mean natural gas prices will continue to rise higher, adding to the continent’s energy woes, according to Dea Mario Mehren, chief executive of natural gas and crude oil company Wintershall. Read Full Article at RT.com
We are in a ‘global supply chain pandemic’ that could be as severe as Covid, Prof. Quelch tells Boom Bust
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EU leaders are sounding the alarm about a shortage of magnesium coming from China that could take a toll on the bloc’s economy. A number of business groups are warning of the imminent risk of Europe-wide production shutdowns. Read Full Article at RT.com
Elon Musk now worth more than oil giant ExxonMobil
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With a net worth of over $288 billion, Elon Musk’s fortune is now bigger than the market value of US energy major ExxonMobil. This comes as Musk’s electric car company Tesla joins the elite trillion-dollar club of companies. Read Full Article at RT.com
China unlikely to allow Australian coal imports despite mounting energy crisis – analysts
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The coal shortage in China is unlikely to force Beijing to lift the ban on Australian imports anytime soon despite the pressing need to boost energy supplies amid a national power crunch, experts believe. Read Full Article at RT.com
Refiners suffer from record high natural gas prices
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Surging natural gas prices in Europe and Asia have boosted global demand for oil products, benefiting oil refiners globally. Yet, it is these record natural gas prices have started to weigh on the refining industry. Read Full Article at RT.com
Beloved cartoon characters Masha and the Bear to appear on Russian commemorative coins
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The Bank of Russia has issued commemorative coins featuring characters from the Russian animation series ‘Masha and the Bear’, which has become widely popular across the world over the past decade. Read Full Article at RT.com
Sudan stalls entry of fuel-carrying ships into its waters to avoid fines for protest-related delays – Energy Ministry
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Sudan has halted the entry of ships carrying fuel into its territorial waters to avoid fines that may arise from offloading delays due to tribal protests. Read Full Article at RT.com
Russians stock up on foreign currency, choose US dollar over euro
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Russian currency exchange transactions in September increased by 30% on a yearly basis, analysts at the Russian Standard Bank state. Read Full Article at RT.com
Russia’s gold & foreign currency reserves rise by almost $5 BILLION in just one week
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Russian foreign exchange holdings grew by 0.8% over the week ending October 15, reaching $620.3 billion, according to the latest data from the central bank. Russia holds the world’s fifth-largest forex reserves. Read Full Article at RT.com
China’s Evergrande averts default with last-minute bond payment, resumes work on 10 projects
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Chinese property developer Evergrande evaded default this week with a last-minute bond coupon payment, which bought the company another week to deal with its $300 billion debt crisis. Read Full Article at RT.com
China’s Evergrande averts default with last-minute bond payment
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Chinese property developer Evergrande evaded default this week with a last-minute bond coupon payment, which bought the company another week to deal with its $300 billion debt crisis. Read Full Article at RT.com
IMF slashes Asia growth forecast, warns of ‘ravaging’ Covid spread & supply-chain disruptions
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The International Monetary Fund (IMF) has lowered its 2021 growth forecast for the Asian economy to 6.5%, down by 1.1 percentage points from its April projection. Read Full Article at RT.com
Russia is ready to boost coal & gas supplies to China, but says problems with transportation remain
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Beijing has been in talks with Moscow on increasing fossil fuel deliveries to China. However, despite Russia’s readiness to cooperate, transportation problems may hinder the efforts, the Russian ambassador to China says. Read Full Article at RT.com
Nothing to hide, nothing to fear: RT’s Keiser Report probes Bank of England warning that bitcoin could cause financial meltdown
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The Bank of England has warned investors this week that bitcoin could cause a collapse of the financial system, while a recent Reuters report slammed the UK as the “bank scam capital of the world.” Read Full Article at RT.com
The export duty on Russian wheat will be increased from $61.3 to $67 per ton on October 27, the Ministry of Agriculture said. Duties on corn will also be hiked to $49.7 per ton. Read Full Article at RT.com
India to become $10 TRILLION economy by 2030 – minister
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Economic growth in India is accelerating as the pandemic has led to the revival of the nation’s health sector and increased exports, Minister of Petroleum and Natural Gas of India Hardeep Singh Puri says. Read Full Article at RT.com
Russia’s foreign trade turnover may surpass pre-pandemic level – Federal Customs Service
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The volume of Russia’s foreign trade turnover from the start of 2021 amounted to $570 billion, data from the Federal Customs Service (FCS) shows. The department says the indicator may exceed the level of 2019 by year’s end. Read Full Article at RT.com
Beijing signals its tech industry crackdown is winding down
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China’s major financial regulator said this week it expects to make significant progress in the ongoing probe of Chinese fintech companies before the end of 2021, which may signify an end to the crackdown is approaching. Read Full Article at RT.com
Walmart sets up hundreds of bitcoin ATMs at its stores across the US
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US retail giant Walmart, the world’s largest company by revenue, has launched a program to allow customers to buy bitcoin at 200 of its stores via Coinstar ATMs. Read Full Article at RT.com
Russia continues to add gold to the country’s huge forex reserves
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The holdings of monetary gold in Russia’s foreign exchange reserves increased by 0.14% last month, amounting to 73.9 million ounces (2,298.547 tons) as of October 1, the Central Bank of Russia reports. Read Full Article at RT.com
European businesses run risk of shutting down due to rising gas prices, EC president warns
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Surging prices for gas in the European Union expose enterprises across block to serious risks of closing down, according to the president of the European Commission Ursula von der Leyen. Read Full Article at RT.com
Forget $100, options traders now betting on oil prices hitting $200
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As oil prices hit multi-year highs, some speculative traders are betting on the options market that oil could exceed $100 a barrel by the end of this year and even reach a record $200 per barrel by the end of 2022. Read Full Article at RT.com
Gas prices in Europe continued to rise on Wednesday, reaching over $1,150 per 1,000 cubic meters, according to data from the Intercontinental Exchange. Read Full Article at RT.com
First bitcoin futures ETF ready to debut on Wall Street
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A bitcoin-linked exchange-traded fund (ETF) will officially be listed on the New York Stock Exchange (NYSE) on Tuesday under the ticker ‘BITO’, ProShares fund has announced. Read Full Article at RT.com
European gas prices surge 20% after cooling down to $980 per 1,000 cubic meters
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Gas prices in Europe have topped $1,300 per thousand cubic meters on Monday after declining to almost $980 in earlier trading on London’s ICE exchange. Read Full Article at RT.com
China’s GDP growth slumps as real estate and energy crises take toll
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The Chinese economy grew by 4.9% from July to September compared to the previous year – its weakest pace since the third quarter of 2020, data published by the National Bureau of Statistics (NBS) on Monday shows. Read Full Article at RT.com
El Salvador is set to use wide range of renewable energy for crypto-currency mining, country’s Hydroelectric Commission says
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The world’s first state to make bitcoin legal tender, El Salvador, plans to use multiple renewable-energy sources to power its crypto-mining sites, the chief of the country's Hydroelectric Commission announced earlier this week. Read Full Article at RT.com
Russia’s non-resource-based exports will reach historic highs in 2021
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By year’s end, Russia’s exports not based on resources or energy will reach a record $180 billion, Russian Export Center (REC) CEO Veronika Nikishina told reporters on the sidelines of the Eurasian Women’s Forum. Read Full Article at RT.com
Russian gem miner boosts output to 23.3 million carats
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Russian diamond miner Alrosa increased production by 26% in the third quarter of 2021, according to the latest data released by the company. Read Full Article at RT.com
Global public debt hits record high of $88 TRILLION – IMF
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The International Monetary Fund (IMF) said on Wednesday that global government debt is estimated at 97.8% of the world’s gross domestic product in 2021. Read Full Article at RT.com
And the third runner-up is… Russia ranks among world's largest bitcoin miners
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Russia has emerged as the world’s third largest bitcoin miner, with its share in the total computing power of miners – known as the ‘hash rate’ – reaching 11.23%, data from the University of Cambridge published this week shows. Read Full Article at
Bad economics or outright fraud? Keiser Report looks at how the fiat world drives multiple supply crises & how bitcoin could help
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The global supply chains are collapsing, leaving empty shelves and people queuing for basic goods, but stock prices continue to rise because of money-printing behind the scenes, collapsing the value of currencies. Read Full Article at RT.com
Europe’s imports of Russian goods soar 50% in 2021 despite lingering sanctions – Eurostat
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The value of Russian exports to European countries from January to August 2021 reached $109.7 billion, allowing Russia to remain the third largest EU exporter, European statistics agency Eurostat announced this week. Read Full Article at RT.com
Australia continues to back its coal industry as many Western nations have turned their back on the dirtiest fossil fuel, approving a third coal mine extension in a month and bolstering partnerships for long-term coal exports. Read Full Article at RT.com
Bitcoin climbs closer to $60,000 on prospect of first exchange-traded fund
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The world’s most popular cryptocurrency has soared to its highest level since May on Friday, propelled by traders’ optimism about a US approval of the first bitcoin futures exchange-traded fund (ETF). Read Full Article at RT.com
How do US crypto miners plan to make the energy-intensive process more efficient? RT’s Boom Bust finds out
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The US has now officially become the world leader in bitcoin mining, doubling its share in the energy-intensive activity after miners were forced out of China by a sweeping mining ban. Read Full Article at RT.com
Russian ruble climbs to highest against US dollar since July 2020
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The ruble continued to strengthen against the US dollar on Friday, reaching levels last seen in July 2020. The Russian stock market MOEX also surged, hitting a record high on rising oil price prices. Read Full Article at RT.com
‘Nobody will freeze’: Russia will supply Europe with as much gas as it needs, says country’s energy committee
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Europe will get as much gas from Russia as it needs to curb energy shortages, while gas prices will inevitably stabilize, the country’s National Energy Committee head Aleksey Gospodarev told RT at the Russian Energy Week forum. Read Full Article at RT.com
Russia will set new record for natural gas output in 2021 – Novak
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Russia is on course to set a new record for natural gas production in 2021, but plans to focus on domestic supplies during the upcoming winter, Deputy Prime Minister Alexander Novak said at the Russian Energy Week forum. Read Full Article at RT.com
