Business – THE OVAL CIRCLE

High global demand sends Russian Urals crude oil price soaring

Posted on May 7, 2021May 7, 2021By Editor

Russia’s Ministry of Finance said on Wednesday that the average price for domestic Urals oil benchmark stood at $62.50 per barrel in April, which is a 340% increase in annual terms. … Read More >High global demand sends Russian Urals crude oil price soaring

Business

Russia slashes dollar & euro from reserves in favor of gold & yuan

Posted on May 7, 2021May 7, 2021By Editor

The Central Bank of Russia (CBR) said in its annual report that in 2020 it reduced the share of the euro, the dollar and the pound in the country’s international reserves in favor of gold, yuan and other currencies. … Read More >Russia slashes dollar & euro from reserves in favor of gold & yuan

Business

Tesla reportedly working with Chinese regulators as car company faces scrutiny over safety issues

Posted on May 5, 2021May 5, 2021By Editor

US electric carmaker Tesla has reportedly boosted cooperation with Chinese regulators as the company faces scrutiny over safety and customer service complaints in its second-biggest market. … Read More >Tesla reportedly working with Chinese regulators as car company faces scrutiny over safety issues

Business

Canada is battling another pipeline cancellation by US

Posted on May 5, 2021May 5, 2021By Editor

President Biden is coming under fire for his attack on oil and gas once again as Canada pleads to keep the cross-border Great Lakes oil pipeline open. … Read More >Canada is battling another pipeline cancellation by US

Business

Oil climbs over $67 as strong demand in US & China counters concerns over surging Covid cases in India

Posted on May 5, 2021May 5, 2021By Editor

Global crude prices advanced as optimism over heavy demand by the world’s major consumers, China and the US, offset falling demand in India, which is currently battling the second wave of the Covid-19 pandemic. … Read More >Oil climbs over $67 as strong demand in US & China counters concerns over surging Covid cases in India

Business

Pandemic or not, online shopping frenzy is here to stay, Amazon predicts

Posted on May 4, 2021May 4, 2021By Editor

Amazon is set to further reap benefits from the pandemic-fueled growth in online shopping after the US e-commerce giant saw its sales and profits skyrocket in the first quarter of the year. … Read More >Pandemic or not, online shopping frenzy is here to stay, Amazon predicts

Business

Venezuela to calculate social benefits in state-backed crypto – President Maduro

Posted on May 4, 2021May 4, 2021By Editor

Venezuela’s President Nicolas Maduro has announced that social benefits would be calculated based on state-owned oil-backed digital coin, the petro, as the sanctions-hit country is facing severe economic crisis and hyperinflation. … Read More >Venezuela to calculate social benefits in state-backed crypto – President Maduro

Business

European economy slides into double-dip recession after new Covid-19 wave

Posted on May 4, 2021May 4, 2021By Editor

Both the EU and the eurozone economies are facing a second recession in just over a year, continuing to shrink in the first three months of 2021, according to preliminary estimates released by Eurostat. … Read More >European economy slides into double-dip recession after new Covid-19 wave

Business

Natural Gas Prices in Europe Spike to January Levels Amid Fall in Stockpiles

Posted on May 3, 2021May 3, 2021By Editor

At the same time, EU countries are struggling to agree on their policy towards Nord Stream 2 – a joint project between Russia’s Gazprom and European energy giants, designed to deliver 55 billion cubic metres of natural gas from Russia per year. The pipeline has been facing sanctions pressure from the US, who wants the project to be shut down. … Read More >Natural Gas Prices in Europe Spike to January Levels Amid Fall in Stockpiles

Business

Putin orders Russian government to bring domestic prices under control

Posted on May 3, 2021May 3, 2021By Editor

Russian President Vladimir Putin has given the government until July 1 to stabilize domestic prices for goods. … Read More >Putin orders Russian government to bring domestic prices under control

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