Citigroup to sell Venezuelan gold after Caracas misses buyback deadline due to US asset...

Citigroup is reportedly preparing to sell gold bullion – which the Venezuelan Central Bank swapped for cash back in 2015 to keep the economy afloat and has now missed the deadline to buy back...

U.S. On The Hunt For Iranian “Ghost Tankers”

By Irina Slav When Washington announced the return of economic sanctions against Iran, the main idea was pretty clear: cut exports of vital oil to zero to paralyze the economy and prompt a change in government....

U.S. ‘’Oil Weapon’’ Could Change Geopolitics Forever

By Tim Daiss In a dynamic that shows just how far U.S. oil production has come in recent years, the U.S. Energy Information Administration (EIA) said on Monday that in the last two months of 2018, the U.S....

U.S. And China Hold Key To Higher Oil Prices

By Nick Cunningham Oil prices have broken new multi-month highs, but the next level up may largely depend on what happens between the U.S. and Chinese trade negotiations. There have been conflicting reports in recent days. Oil...

One Last Warning For The U.S. Shale Patch

It is likely that the production surplus will persist through 2019 and possibly 2020 based on EIA forecasts for production and consumption. EIA’s forecast for quarterly WTI price is below $65 per barrel through...

U.S. Renews Sanctions Waiver For Iraq To Buy Energy From Iran

By Tsvetana Paraskova The U.S. Administration has renewed for another 90 days a sanctions waiver for Iraq to continue importing energy from neighboring Iran despite the American sanctions on Tehran, an official with the U.S. State...

Istanbul drops in rankings on most expensive cities list

The cost of living in Istanbul has fallen sharply over the last year, taking the city to 120th place in a list of most expensive cities around the world, down from 44th, according to the Economist Intelligence...

Auto production in Turkey declined 16 percent in February

Turkey’s automotive production declined by 15.5 percent on an annual basis to 119,473 units in February, the Automotive Manufacturers Association (OSD) reported on March 20. In the first two months of the year, the automotive industry’s output fell by 13.7...

Turkey’s Treasury raises $1 billion via 2029 bond

The Turkish Treasury borrowed $1 billion through its dollar-denominated April 2029 bond. The bond has a coupon rate of 7.625 percent and a yield to investors of 7.15 percent. “The offering attracted an orderbook of approximately 3 times the actual issue size...

Oil hits 2019 highs amid OPEC-led supply cuts, US sanctions on Iran and Venezuela

Reuters The losses came amid worries over global economic growth after the US Federal Reserve highlighted signs of a slowing economy SINGAPORE: Oil prices reached their highest so far for 2019 on Thursday as global...

Ford accelerates electric vehicle investment

Carmaker Ford is expanding production of all-electric vehicles after deciding that rapid growth in market meant it needed to accelerate its plans. It is investing about $900m (£682m) in new production capacity at a plant...

U.S. whiskey exports dry up as tariffs bite

(Reuters) - American whiskey exports slumped in the second half of 2018, taking a blow from higher duties by the country’s trading partners following President Donald Trump’s tariffs on steel and aluminum imports, an...

Short & distort? The ugly war between CEOs and activist critics

Lawrence Delevingne NEW YORK (Reuters) - On the morning of July 11, Paul Pittman was on a corn farm in Western Illinois, unaware his company had taken a devastating hit. Just before the stock market opened,...

Fed sees no rate hikes in 2019, sets end to asset runoff

Howard Schneider, Trevor Hunnicutt WASHINGTON (Reuters) - The U.S. Federal Reserve on Wednesday brought its three-year drive to tighten monetary policy to an abrupt end, abandoning projections for any interest rate hikes this year amid...

Asian shares up on accommodative Fed; growth concerns linger

Andrew Galbraith SHANGHAI (Reuters) - Shares in Asia rose on Thursday after the U.S. Federal Reserve took a more accommodative stance at its policy meeting, but concerns over U.S.-China trade talks and slowing global growth...

Escalation of US-China bilateral tariffs to shave off $1 trillion from America’s GDP

Russia Today A study by the US Chamber of Commerce shows how the deterioration in the trade dispute between the world’s two largest economies, China and the United States, will drastically affect the American economy. “Escalation...

Italy rattles US and EU with likely support for China’s Belt and Road

Leaders set to endorse Italy’s role in ‘Silk Road’ trade network during Xi Jinping’s visit this week Angela Giuffrida in Rome  -The Guardian Italy has signalled its determination to play a central role in China’s grand...

US-China trade: Trump says tariffs on Beijing may linger

‘We have to make sure that if we do the deal, China lives by it,’ says president ahead of resumption of trade talks Reuters Donald Trump has warned that the United States may leave tariffs on...

The good, the bad and Iran’s love of Bitcoin

Washington watches as fiscally fraught Iran and its sanction swerving citizens increasingly embrace crypto ByPeter J. Brown – Asia  Times The Iranian government, which had enacted a total ban on crypto in April 2018, now appears...

Government’s decision will force closure of 80% of money exchange offices in Armenia

YEREVAN, March 21. /ARKA/. The Armenian government’s decision to raise the amount of duty, paid by money exchange offices, would force 80% of them to shut down, the chairman of the Union of Currency...