Category World

China and Russia sign $400-billion gas deal

China and Russia signed a $400-billion gas supply deal on Wednesday, securing the world’s top energy user a major source of cleaner fuel and opening up a new market for Moscow as it risks losing European customers over the Ukraine crisis. The long-awaited agreement is a political triumph for Russian President Vladimir Putin, who is […]

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 […]

Could Chinese money fatally weaken global lenders?

If you can’t beat them, outspend them. That seems to be the thinking behind a huge new infrastructure investment fund being promoted by China as an alternative to established international lending agencies. It’s a terrible rationale for starting a bank – and a good reason to reform the current international system, which remains dominated by […]

Shale Gas on the Rise as G-7 Pledges to Find New Energy Supplies to Counter Russia

The Group of Seven nations agreed to find new sources of energy and expand their natural gas infrastructure to prevent Russia from using its oil and gas reserves as a “political weapon,” German Economy and Energy Minister Sigmar Gabriel said. The world’s leading economies will also increase their efforts to save energy and to use […]

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 […]

China Denies it’s World’s Biggest Trader, Insists it’s Developing Country.

China is set to overtake U.S. as biggest economy using PPP measure. However, the Chinese government has taken unusual step of denying it is world’s No. 1 trader The Chinese leadership has rejected the status of the planet’s biggest trader, despite surpassing America in total imports and exports by a margin of US$44 billion. Beijing […]

China Gold Demand To Rise, Buyers Get Wealthier

Gold demand in China, which overtook India as the largest user last year, will rise about 25 percent in the next four years as an increasing population gets wealthier, according to the World Gold Council. Consumer demand will expand to at least 1,350 metric tons by 2017, the London-based council said in a report today. Growth […]

Japan’s First Sales-Tax Increase Since ’97. What does this mean?

Japan saw its first national consumption tax hike since 1997, with the rate rising from 5 percent to 8 percent. For more than a decade, Japan’s relatively low consumer taxes have been seen as a likely target for raising rates to increase tax revenue and begin dealing with Japan’s high levels of national debt. But […]

Is The Balance of Power Shifting? Why Did BRICS Back Russia on Crimea?

The BRICS’s support for Russia shows the Western-dominated post-Cold War order is eroding. There’s been no shortage of reports and commentaries on the crisis in Ukraine and Crimea, and Russia’s role in it. Yet one of the more notable recent developments in the crisis has received surprisingly little attention. Namely, the BRICS grouping (Brazil, Russia, […]

World stocks slip from six-year high

World stocks slipped on Monday from last week’s six-year high as technology shares tumbled again, while speculation the European Central Bank will ease policy further pushed down European bond yields. The Nasdaq suffered its biggest decline since February on Friday as investors extended a recent sell-off in high-flying and high-growth shares, mostly in the tech […]