Tag: Business News Russia

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China’s century: Yuan to dethrone US dollar as major global currency, trend forecaster tells Max Keiser

China has become the only major economy left standing after the coronavirus pandemic rattled global trade and is set to strip the US of its leading positions soon, Gerald Celente, publisher of The Trends Journal, believes.

Joining Max Keiser in the latest episode of RT’s Keiser Report, Celente said that China is the top trend of this year. It is also projected to dominate the whole 21st century, like the US did after World War II, and is on path to replace America, according to the analyst. [embedded content]“The 20th century was the American century, the 21st century …

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Major Russian bank gets ready to launch its own cryptocurrency by spring

Russia’s largest lender, Sberbank, has applied to the national financial regulator to set up a blockchain platform for its own digital token called Sbercoin. The project may be launched as early as this spring.

Sberbank sent the application for the platform to the Central Bank of Russia at the beginning of the year, Director of the Transaction Business Division Sergey Popov revealed earlier this week. He said that the registration was required by the law on digital financial assets, which came into force in Russia on January 1.  “The bank is technologically ready to work with such a fiat currency,” …

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Sales of Russian wheat keep surging amid gloomy export forecasts

Russia has sold 26.3 million tons of wheat since the beginning of July 2020 through January 14 2021, marking a 22.6 percent surge against the same period a year ago, the latest data by the country’s agricultural ministry shows.

Overall, grain exports have totaled 31.5 million tons since the beginning of the season till the middle of January, fixing a 28.8 percent year-on-year growth, according to Federal Customs Service’s figures, which omit data related to mutual trade between the members of the Eurasian Economic Union (EAEU).Sales of barley more than doubled over the indicated period and totaled 3.7 million tons, while exports of corn soared 21.4 …

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Libya may boost oil production after fixing leaky pipeline to its biggest port

Libya has begun pumping crude to its biggest port again a week after it was forced to shut down a worn-out pipeline due to a leak. With the link back online, the country’s output may exceed 1.2 million barrels a day again.

The reopening was announced by the operator of the Es Sider export terminal, Waha Oil company, a subsidiary of the state energy firm National Oil Corporation (NOC). In a statement on Saturday, the operator said that the repairs were finished in “record time,” as it took it seven days to complete them instead of two weeks.

Also on …

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Why did bitcoin suddenly erase all of this year’s gains? RT’s Boom Bust has the answer

The plunge of the world’s largest cryptocurrency by market cap, bitcoin, wiped out millions of dollars from the crypto market earlier this week. RT’s Boom Bust digs into the reasons behind the steep drop.

After a strong start to 2021, when we saw bitcoin breaking records on a daily and even hourly basis, the price of the cryptocurrency has faced wild swings. On Friday, it plunged below $30,000 for the first time in nearly three weeks, but recouped some of those losses since then and was trading at around $31,900 on Saturday.[embedded content]“There are a few reasons why bitcoin …

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Cost of sanctions: German industry hit hard by anti-Russia measures, survey shows

Around a half of German businesses polled by one of the nation’s largest economic think tanks, the Ifo Institute, want the EU to lift sanctions against Russia, as the restrictions have hit the German industrial sector hard.

The punitive penalties resulted in a greater bureaucratic burden which hinders business with Russia for nearly 40 percent of the 862 companies polled by the Munich-based institute, while over a third of them had to deal with extra controls. Additionally, around 20 percent of the firms said that they felt the impact of trade bans and restrictions on the financing sector, according to the Ifo …

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Foreign investors flooded China’s stock market in 2020, adding about 1.5 million new accounts a month

The number of new investors on China’s mainland stock market increased by 18.02 million last year to 177.77 million, according to China Securities Depository and Clearing. Some Chinese stocks were the best performing in the world.

Data from the organization, which handles trades for the Shanghai and Shenzhen stock exchanges, showed that around 1.5 million new accounts have been added a month. In December alone, the mainland stock market recorded 1.62 million new investors – double the 809,300 reported a year ago.The surge of interest came as people around the world turned to stock trading while being stuck at home due to the Covid …

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US stock market bubble may pop soon after Wall Street’s coronavirus bonanza, Bank of America warns

The second-largest US lender, Bank of America, has warned that the “extreme rally” seen after the market crash triggered by the pandemic formed a bubble in asset prices, and it could be about to burst.

“DC’s policy bubble is fueling Wall St’s asset price bubble,” wrote a group of analysts at Bank of America led by Michael Hartnett, as quoted by Bloomberg.The analysts were referring to the US Federal Reserve’s (the Fed’s) monetary actions, as well as fiscal stimulus policies designed to mitigate the devastating impact of the pandemic. According to the bank’s predictions, …

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Apple & Hyundai to start production of self-driving electric ‘iCar’ in 2024 – reports

South Korean carmaker Hyundai and US tech giant Apple may soon finalize their rumored deal on autonomous electric cars, with vehicles expected to roll off the production line in three years, according to a local media report.

With negotiations between the two companies in full swing, the duo is expected to reach a final agreement by March, local newspaper Korea IT News reported on Sunday, citing industry sources. The outlet says the cars will be produced at a plant in the US, operated by Hyundai affiliate Kia Motors. They plan to roll out some 100,000 vehicles in 2024 – three years earlier than …

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US dollar demise will soon be attributed to bitcoin rise – Max Keiser

The leading global cryptocurrency’s parabolic surge is already off the US’ money printing chart, but unlike fiat money, it’s going to keep rising. RT’s Keiser Report hosts, Max Keiser and Stacy Herbert, explain why.

The millions of investors betting on bitcoin, including big guns such as Paul Tudor Jones and BlackRock, don’t have to fear their investment being extinguished by financialization, unlike the gold and bond “vigilantes,” Max said in the latest episode of the show. That’s why their investment is increasing in value, he believes. [embedded content]“I predict that, very soon, you’ll …

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