By Joseph Benzekri Nigeria’s deadly insurgent group Boko Haram declared its allegiance to ISIS on March 7, following what was reported to be female suicide bombings killing over 50 in Maiduguri. Much like ISIS, the equally nihilistic Boko Haram appears to be edging closer to its own caliphate in northern Nigeria. In light of increasing violence … Continue reading
Moody’s Investors Service said on Tuesday that the Philippine government’s sovereign rating of Baa2 is supported by improvements in government finances alongside ongoing debt reduction in addition to benefiting from low oil prices. “The country has favorable prospects for strong economic growth, and as a net oil importer, stands to benefit from a prolonged period of lower oil … Continue reading
Iraq is said to be discussing a possible bond issue worth around $6 billion with Deutsche Bank and Citibank in an effort to cover a “huge” projected budget deficit this year, Finance Minister Hoshiyar Zebari said, according to Reuters. Revenues in the nation have plunged along with the price of oil just as Iraq faces an expensive military campaign … Continue reading
By Stratfor Global Intelligence In spite of recent media leaks and statements, it is unlikely that Saudi Arabia will strategically alter its opposition to the Muslim Brotherhood. The rhetorical softening of the new monarch’s position toward the Islamist movement is instead part of efforts to better manage Saudi Arabia’s regional challenges. In order to effectively … Continue reading
How can Venezuela use its vast oil reserves to enhance its economic security and become a major player in global energy markets? Samir Tata thinks that Caracas should start by forming strategic partnerships with energy-hungry states like China, Germany and India. By Samir Tata With time and investment, Venezuela could become a major player in … Continue reading
The grouping of emerging markets known as the ‘BRICs’ — which comprises of Brazil, Russia, India, China, and South Africa — helped to drive the global economy following the 2008 financial crisis, however the dynamics among these nations are changing, as economic growth from long time powerhouse China continues to slow and perennial laggard India is building momentum under its new government. … Continue reading
China is reportedly considering ways to merge its state-owned oil companies to better compete globally as oil prices fall and its economy slows. The Chinese government has decided to combine the China National Petroleum Corp. (CNPC) and its main domestic rival China Petrochemical Corp. (Sinopec) as well as other major energy companies – China National … Continue reading
Libya’s state-run oil company – National Oil Corp. (NOC) – has warned that it will shutdown oil production at all fields if the nation’s authorities fail to contain a rapid increase of attacks on its facilities, Bloomberg reported on Saturday. “If these incidents continue, National Oil Corp. will regrettably be forced to stop all operations … Continue reading
By International Crisis Group Why Is the Postponement, and Nigeria’s Wider Electoral Challenges, Important for Africa? Nigeria is Africa’s most populous country (est. 178 million) and largest economy (GDP over $500 billion). The growing risk of instability could have profound security, humanitarian and economic implications. Furthermore, any subversion of the country’s democratic progress could dampen democratic developments … Continue reading
By Michael Snyder The stock market continues to flirt with new record highs, but the signs that we could be on the precipice of the next major financial crisis continue to mount. A couple of days ago, I discussed the fact that the U.S. dollar is experiencing a tremendous surge in value just like it … Continue reading