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Nigeria: The Dynamics Of An Oil Crisis
By Daniel Djouder The new trend of low oil prices has rapidly escalated, carrying negative effects for producers and positive effects for the economies of importers, though these have been slow to become apparent. In this complex scenario, the oil-dependent country of Nigeria finds itself in a very peculiar position owing to a specific mix of … Continue reading
Russia Unveils Plans For High-Speed Railway And Superhighway To Link Europe, Asia, And The U.S.
Russia has unveiled a very ambitious plan to construct a transport route that could potentially link London with the United States via high-speed rail and a superhighway. According to the the Siberian Times, Russia’s proposed intercontinental link, which has been dubbed the Trans-Eurasian Belt Development (TERP), would see a high speed railway and motorway built from Eastern Europe across Siberia and … Continue reading
UK And China Deepen Financial Links: London Launches Europe’s First Yuan-Denominated ETF
The UK has deepened its financial links with China on Wednesday and has become the first country in Europe to launch a yuan-denominated money market fund, which allows investors to gain direct exposure to China’s interbank lending market, Reuters reports. The exchange-traded fund (ETF) from China Construction Bank International — China’s second largest bank — will be domiciled in the … Continue reading
Russia Interested In Integration Of Latin American Associations’ Into The Eurasian Economic Union (EEU)
Russia is interested in Latin American associations’ integration into the Eurasian Economic Union (EEU), Russian Foreign Minister Sergey Lavrov said on Wednesday, TASS news agency reports. “We welcome Columbia’s active role in promoting integration processes in the region, including in the framework of CELAC [Community of Latin American and Caribbean States], UNASUR [Union of South … Continue reading
Russia, Cuba Preparing For “Serious, Large-Scale” Projects In Energy, Aviation
Russia and Cuba are preparing for “serious and large-scale” joint projects in energy and civil aviation sectors, Russian Foreign Minister Sergei Lavrov said on Tuesday following a meeting with Cuba’s President of the State Council Raul Castro, Russian media reports. The two nations are also considering the launch of a “very serious” program to modernize Cuba’s power plants, Lavrov said. “In line with instructions given … Continue reading
Russia Signs $10 Billion Deal To Build Jordan’s First Nuclear Power Plant
Jordan has signed a $10 billion deal with Russia on Tuesday to build the kingdom’s first nuclear power plant, with two 1,000-megawatt reactors in the country’s north, Reuters reports. The energy-poor kingdom imports nearly 98 percent of its energy from oil products and crude and is struggling to meet electricity demand as its population rises and its industry … Continue reading
Ukraine’s Economy Contracts By 25% Amid Conflict, Yatsenyuk Says
Ukraine’s economy has contracted by 25 percent amid conflict in the country’s eastern regions and hundreds of businesses have been forced to close, Ukrainian Prime Minister Arseniy Yatsenyuk said on Tuesday during a conference call with regional governors over budget fulfillment, Russian news media reports. “We have lost a quarter of the Ukrainian economy. Because of the war … hundreds of companies have been closed,” … Continue reading
The War On Petrocurrencies
By Gulam Asgar Mitha U.S. Secretary of State Hillary Clinton in 2007 had supposedly asked ex-Australian Prime Minister Kevin Rudd “how do you get tough on your banker?.” This was over concerns about China’s growing power and hold on U.S. finances. According to Wikileaks, Rudd told Clinton to keep force as a last resort. Do … Continue reading
As China-Led AIIB Gains Traction, Premier Li Asks IMF For Yuan Inclusion In SDR Basket
Chinese Premier Li Keqiang asked the International Monetary Fund’s (IMF) Managing Director Christine Lagarde on Monday to include China’s yuan in its Special Drawing Rights (SDR) basket, China’s state-run Xinhua news agency reports. According to the report, Premier Li told Lagarde that China would “speed up the basic convertibility of yuan on the capital account and provide more facility for domestic … Continue reading
Emerging Asia Set For “Strong Growth” In 2015, 2016: ADB
Emerging Asia will maintain its strong economic growth in 2015 and 2016, supported by soft commodity prices and recovery in the major industrial economies, a new report from the Asian Development Bank (ADB) says. The ADB’s annual economic report, Asian Development Outlook 2015 (ADO), released on Tuesday, forecasts gross domestic product (GDP) growth in emerging … Continue reading
