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Trump slams currency manipulation by Brussels & Beijing

By ethan / July 20, 2018

US President Donald Trump stepped up attacks on China and the European Union on Friday, accusing them of manipulating their national currencies and interest rates. The US, which is currently doing well, should preserve its right to recover what was lost through such practices as illegal currency manipulation and trade deals that were not profitable […]

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Going green: China's shift to natural gas will send coal prices crashing

By ethan / July 20, 2018

Chinese authorities have approved an extended program aimed at significantly curtailing coal consumption across the country. The move to cleaner energy will have a serious effect on the entire coal industry. According to the plan, within three years coal consumption across 82 China’s cities will be slashed by up to 10 percent against the numbers […]

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Trump says US ready to tax all Chinese imports should need arise

By ethan / July 20, 2018

Washington may slap import taxes on all $ 505 billion worth of Chinese goods should it become necessary if the trade conflict with Beijing escalates, US President Donald Trump told CNBC. So far, the countries have exchanged levies on mutual imports worth of $ 34 billion. US export duties on Chinese products came into force […]

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Russia set to wean economy off US dollar as Washington ratchets up sanctions

By ethan / July 20, 2018

The Russian finance ministry is working on a broad set of measures to protect the country’s economy amid growing pressure from the United States, Kommersant daily reports. The main part of the reforms is a plan to reduce the use of the US dollar in foreign trade transactions in favor of national currencies, according to […]

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First 50 families of farmers from South Africa may soon resettle in Russia

By ethan / July 20, 2018

The first families of Boers, descendants of Dutch settlers in South Africa, could soon be moving to Russia to escape rising violence against farmers. Some 15,000 Boers want to leave South Africa and become farmers in Russia. The Schlebusch family from South Africa’s Bloemfontein is going to be among first 50 Boer families to settle […]

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Russia plans national road reconstruction project essential to economic growth

By ethan / July 19, 2018

About 9,000 kilometers of highways and roads in Russia will be transferred to federal ownership by 2021 before a major rebuilding project to boost the country’s road infrastructure and the national economy. Read more The trend will continue after 2021 with additional 8,300kms of road becoming the property of the Federal government. Federal highways are […]

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Zuckerberg warns break-up of Facebook will lead to Chinese tech dominance

By ethan / July 19, 2018

Calls to break up Facebook in order to even out the playing field for competitors would result in a Chinese tech companies filling the void, said the social network’s co-founder Mark Zuckerberg. He pointed to the fact that the Chinese firms which will likely step in and dominate don’t have traditional American values. “I think […]

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Venezuela will refine gold in Turkey to protect reserves from US sanctions

By ethan / July 19, 2018

The Central Bank of Venezuela will start refining gold in Turkey to avoid US sanctions –  penalties that deter the country from carrying out banking operations in Switzerland, according to the Venezuelan mining minister. “This is an agreement established with Turkey and the Venezuelan central bank,” Victor Cano told journalists. “It’s being done by allied […]

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Chinese consumers ready to boycott American goods if trade war escalates

By ethan / July 19, 2018

Most Chinese may stop buying US products in response to tariffs imposed last month on goods from their country by the White House amid rising trade tensions between Washington and Beijing, according to the latest survey. The recent study carried out by FT Confidential Research shows that 54 percent of respondents across 300 Chinese cities […]

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