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Middle East: Oman’s Subsidies To Exceed $7 Billion This Year According To IMF Study
Oman’s total subsidies will touch $7.27 billion this year, the International Monetary Fund (IMF) reports in a study. This is against a subsidy estimate at $4.64 billion for 2015 in the state budget and an actual subsidy of $4.36 billion in 2014, which indicated a fall of 17.11 per cent over the previous year due … Continue reading
The Sanctions Of Mass Destruction – Fueled By Petrodollars – OpEd
By Garikai Chengu Under the late King Abdullah, Saudi Arabia played a role most treacherous in world affairs: its oil fueled U.S. militarism and its money funded Islamic extremists. Saudi Arabia is perhaps the greatest inherent contradiction of U.S. foreign policy. Prior to the 20th century, the value of money was tied to gold. When … Continue reading
China-Latin America Relations And The Fall Of Oil Prices
By Yagmur Ersan The first ministerial meeting of the Forum of China and the Community of Latin American and Caribbean States (CELAC) was held from January 8-9, 2015 in Beijing. Three presidents, President Luis Guillermo Solís of Costa Rica, President Rafael Correa of Ecuador and President Nicolás Maduro of Venezuela, as well as Prime Minister Perry … Continue reading
Foreigners Investors Bullish On Vietnam, But Want Economic Reforms
By Lien Hoang Foreign investors are optimistic about Vietnam’s economy, along with others in Asia, but have asked the government to complete its promised overhaul of banks and state firms. Investment is pouring into the country as everything from inflation to currency stabilizes, while strong trade is set for an even better outlook. January 1 … Continue reading
The Slow Death Of The Petrodollar
By Daily Kos Blog It’s hard to figure out the state of the dollar these days. On one hand it is strengthening so quickly that it threatens to hurt exports, and there is even talk of a bubble. The market is so hungry for the safety and liquidity of Treasuries that interest rates are being crushed to … Continue reading
What Does A Slowdown In China Mean For Latin America?
By The World Bank Growth in Latin America and the Caribbean (LAC) has become increasingly dependent on activity in China, partly as a result of heavy reliance on commodity exports. A 1 percentage point deceleration of growth in China has been associated with a 0.6 percentage point slowing of growth in the LAC region. Growth … Continue reading
Iran: Opposition To Western Sanctions In The Banking Sector
By Oleg Reschikov The Islamic Republic of Iran has for many years suffered from significant multifaceted pressure from the West. Persistence and resourcefulness has allowed Iranian businesses and Iran as a whole to skillfully overcome the barriers erected by US and European sanctions. With the resumption of Iran’s nuclear program in 2005, the ring of sanctions … Continue reading
Growing The Russia-China New Relationship
By F. William Engdahl While the Obama Administration is preoccupied with keeping an increasingly unhappy EU firm on further economic sanctions against Vladimir Putin’s Russia, Putin is busy outflanking an increasingly desperate Washington. Rather than fixate on the deliberate US and NATO provocations in Ukraine, Russia is deepening its strategic ties with the other Great Eurasian … Continue reading
Who Gains And Who Loses From Plunging Oil Prices In The Middle East And North Africa Region?
By The World Bank Judging by the futures market, where the price of oil for delivery in August 2015 is US$56 per barrel, there is little optimism about a recovery in oil prices. With cheap oil looking like it is here to stay, the latest Quarterly Economic Bulletin offers a breakdown by country of the … Continue reading
Crossing The Bridge From Eurasia To NATOstan – OpEd
Seen from Asia, the ghastly crisis in Europe looks and feels like a galaxy away. So as I was back from the Middle Kingdom to the austerity-ravaged, stagnated collection of dysfunctions also known as NATOstan, I decided to stop midway, in the City of Cities, for a moment of reflection. . By Pepe Escobar Via … Continue reading
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