Category News

Russia and China set to sign 30-year gas contract.

​Russia and China are set to sign a long-awaited 30-year gas contract during a two-day meeting, when Russian President Vladimir Putin visits Shanghai on May 20-21. Gazprom, Russia’s largest natural gas producer, and China National Petroleum Corporation (CNPC) are set to sign a gas deal that will send 38 billion cubic meters of natural gas […]

E.U. Court Orders Google to Grant ‘Right to Be Forgotten’

The highest court in the European Union decided on Tuesday that Google must grant users of its search engine a right to delete links about themselves in some cases, including links to legal records. The decision by the European Court of Justice in Luxembourg is a blow for Google, which has sought to avoid the […]

Did the ABD and World Bank get snubbed by China’s $50 Billion Asia Bank?

On the first evening of the Asian Development Bank’s annual meeting in the capital of Kazakhstan this month, delegates from 16 countries skipped the scheduled Romeo and Juliet ballet for dinner at the Great Wall restaurant to talk about forming a totally different lender. They dined on Peking duck and tofu as China’s Finance Minister […]

Balance of power in the Global Gold Industry moves East as Dubai plans $60 million refinery, spot contract .

In the desert on the outskirts of Dubai, one of the world’s biggest gold refineries is under construction. When completed next year, it will help to alter the balance of power in the global gold industry. Growth in demand for the precious metal is shifting east, to Asia’s fast-growing economies. But key industry activities such […]

Spain Emerges From a Six-year Slump as Budget Gap Grows

The European Union forecast that Spain will post its fastest economic growth in eight years in 2015 as Prime Minister Mariano Rajoy allows his budget shortfall to rise in the run up to a general election. Spanish gross domestic product will grow 2.1 percent next year and the budget deficit will widen to 6.1 percent of GDP unless Rajoy changes his current policy […]

U.S. Stocks Advance as Employment Report Rise

U.S. stocks rose, with benchmark indexes trading near all-time highs, after data showing payrolls rose in April by the most in two years boosted confidence in the strength of the world’s largest economy. Agnico Eagle Mines Ltd. jumped 5.9 percent after reporting a record quarterly gold production. QLogic Corp., the supplier of chips and switches […]

$17 Billion Ukraine Bailout Package Approved

Ukraine crisis: IMF approves $17B US bailout amid risks The International Monetary Fund (IMF) has approved a $17.1bn (£10.1bn) bailout for Ukraine to help the country’s beleaguered economy. The loan comes amid heightened military and political tension between Ukraine and neighbouring Russia. The loan is dependent on strict economic reforms, including raising taxes and energy […]