By Alexandra Jarosiewicz and Naubet Bisenov The executive body of the Eurasian Economic Union (EEU) and a Kazakh business lobby have dismissed the possibility of switching to national currencies in trade within the Russia-led trade bloc when it comes into being on January 1, instead of the current system of using dollars and euros in some … Continue reading
By Carl Schreck The Russian ruble’s sharp plunge this week, which saw it fall below 50 to the U.S. dollar, has revived the specter of the kind of currency crisis that Russians have suffered through repeatedly over the past 25 years. The ruble on December 1 took its steepest dive in intraday trading since 1998, … Continue reading
Russia has canceled a 63 billion cubic meter pipeline project to deliver gas to southern Europe. Instead of going through Bulgaria, an EU member, it will flow through Turkey and Greece. RT walks you through some questions you may have about the decision. What is South Stream? A gas pipeline that would have delivered 63 … Continue reading
Russia’s eastern vector of development takes more visible and clear outlines. After visiting China, President Putin paid a visit to Turkey; Putin also plans visits to Egypt and India. Russia should have stopped pulling the rope with the EU about the construction of the South Stream long ago. In a nutshell, Russia should proceed from … Continue reading
By BNE IntelliNews Ukraine still has to pay for more than 1bn cubic meters of natural gas that it needs in December, worth some $385m, outgoing energy minister Yury Prodan said on December 2, as a cold spell hit the country. Power generators are introducing rolling outages to cut consumption because of fuel shortages. Night time temperatures in the capital city Kyiv … Continue reading
Brazil and Uruguay have switched to settling bilateral trade with local currency to stimulate turnover, bypassing the US dollar. Payments in the Brazilian real and Uruguayan peso started on Monday. The agreement was signed on November 2 by the head of Brazilian Central Bank Alexandro Tombini and his Uruguayan counterpart Alberto Grana. Both countries believe … Continue reading
By Bill Holter I’d like to address the outright crash of the oil market this past week. The hope was the Saudis would cut back on production to stabilize prices somewhere in the $80+ range. This was not to be as Saudi Arabia announced no cutback whatsoever …oil then fell over 10% in one day on … Continue reading
By Jodie Gunzberg Global Head of Commodities S&P Dow Jones Indices The CBOE Volatility Index, or what many investors have come to know as VIX, is the index many follow as a volatility indicator for the stock market. The benefit besides printing the “implied” or expected volatility for prices over the next 30 days, giving a range … Continue reading
By Daisy Sindelar Russian President Vladimir Putin rarely makes an uncalculated gesture or concedes defeat. So his announcement on December 1 that Russian energy giant Gazprom was pulling out of plans to build the South Stream natural gas pipeline to southeastern Europe took many by surprise. Russia had long sought a direct route to Europe that would bypass transit … Continue reading
By Peter Drysdale The relationship between the state and economic enterprise is a central choice that governments have to make in all economies. The role of the state and state-backed or state-owned enterprise in Asia’s economic modernisation is a question of special interest. Some argue that in all the economies of Asia that have enjoyed … Continue reading