U.S. sets China trade deal terms, sources say, but Beijing mum

WASHINGTON/BEIJING (Reuters) - Washington has set its terms for a trade deal with China, offering to suspend some tariffs on Chinese goods and cut others in exchange for Beijing’s buying more American farm goods,...

How the Druzhba pipeline brought East Germans and Ukrainians together

Forty years ago, East German workers helped construct the Druzhba gas pipeline running through the then-Soviet Union. Decades later they remain friends — and reminisce about their special connection to Ukraine. By the end of...

Danish Media Claim China Pressured Faroe Islands Over 5G Network

The Faroe Islands have been trying to enter a free trade agreement with China. According to Danish media, the Chinese made it contingent on a 5G deal with the Chinese telecom giant Huawei. Any...

Is This The Most Important Oil Price Driver In 2020?

By Tsvetana Paraskova  Even if the OPEC+ coalition manages to remove as much as 2.1 million barrels of oil per day from the market in the first quarter next year, oil prices may not move much higher if...

How Much Oil Does The $1.5 Trillion Fashion Industry Use?

By Jenna Tharia Chances are, you’re wearing fossil fuels right now--and for the record, you look great. Chances are, Greta Thunberg is getting ready to push her ‘flight-shaming’ campaign into the realm of fashion, because this $1.5-trillion global...

Russia’s Economy Is Signaling An Oil Price Rally

By Alex Kimani The Russian bear is a decidedly different animal. Even as the oil price outlook has become clearly bearish, Russia knows little fear. It’s defying the oil price hibernation with bullish economic outlook, the best-performing...

Oil Firms Set To Raise Investments Offshore Norway

By Tsvetana Paraskova  Oil and gas companies operating offshore Norway are expected to increase their investments in 2020 by 3.8 percent to US$21.4 billion (194.6 billion Norwegian crowns), mostly due to higher cost estimates for some...

KoçSistem exec among top 50 tech CEOs

Mehmet Ali Akarca, general manager of KoçSistem, has been named among one of the world’s top technology company CEOs. Akarca ranks 12th in the Top 50 Tech Services CEO listing, the New York-based The Software Report...

Consumer loans hit $78 billion

The volume of consumer loans increased by 2.5 billion Turkish Liras on a weekly basis to climb to 453 billion liras (around $78 billion) in the week ending Dec. 6, data from the Banking Regulation and...

Turkey spent $92 bln on social protection in 2018

Turkey spent 442.6 billion Turkish Liras (about $92 billion) on social protection in 2018, the Turkish Statistical Institute (TÜİK) said on Dec. 12. “Payments for social protection benefits constituted 98.5 percent of the overall expenditure on...

Wall Street hits record high after Trump’s ‘very close to China deal’ remarks

REUTERS Specialists Anthony Rinaldi, James Denaro and Gregg Maloney, left to right, work on the floor of the New York Stock Exchange, Wednesday, Dec. 11, 2019. (AP Photo) Wall Street hit record levels on Thursday after...

Market expectations, indicators signal healthy recovery for Turkish economy in 2020

DAILY SABAH The Turkish government aims to reach 5% economic growth next year. (iStock) The positive outlook for the Turkish economy's growth next year has been corroborated by international financial institutions and strategists, though suggestions for...

US reaches ‘deal in principle’ with China to end trade war

  White House expected to announce accord later on Thursday US offered to halt new tariffs and up to 50% cuts on existing ones Reuters The White House has reached a “deal in principle” with Beijing...

Fitch Downgrades Lebanon Credit Rating to CC

International ratings agency Fitch on Thursday bumped Lebanon’s credit rating down to "CC" from "CCC", after an initial downgrade in August. "The downgrade of Lebanon's ratings reflects Fitch's view that a government debt restructuring or...

Armenian government to reform bankruptcy law

YEREVAN, December 12. /ARKA/. Armenia's Deputy Minister of Justice Rafik Grigoryan presented to the lawmakers today a set of amendments to the Law on Bankruptcy and related legal acts before they were put for...

OPEC sees small 2020 oil deficit even before latest supply cut

OPEC keeps its 2020 economic and oil demand growth forecasts steady and is more upbeat about the outlook Rueters-LONDON: OPEC on Wednesday pointed to a small deficit in the oil market next year due...

Can Argentina Replicate The U.S. Shale Boom?

By Tsvetana Paraskova  Drillers in Argentina have sought for years to replicate the success of the U.S. shale boom in its huge oil and gas deposits in the Vaca Muerta shale play. The reality is, up until...

Chevron’s $11 Billion Write Down Is A Warning For The Oil Industry

By Nick Cunningham Chevron said that it would write down $11 billion in assets in the fourth quarter, much of which is tied to natural gas in Appalachia. The impairment is a sign that the waters...

Big Oil’s Wishlist: The Hottest Oil Auctions In 2020

By Julianne Geiger As the new year promises to ring in what most suspect will be lackluster oil demand and moderate oil prices despite OPEC’s beefier production cuts, oil auctions for the upcoming year may seem...

Should The West Be Worried About The Power Of Siberia Pipeline?

By Irina Slav A massive work of infrastructure has just been brought online, and its geopolitical implications are explosive. Last week, the presidents of Russia and China jointly inaugurated one of the biggest pieces of gas infrastructure in the...