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Russia ramping up domestic car exports to European market

By ethan / July 22, 2018

Sales of Russia-made Lada cars increased by almost 11 percent across the EU in the first half of 2018, data from the European Automobile Manufacturers Association (ACEA) shows. According to ACEA, January-June exports amounted to 2,770 vehicles. Last month, exports rose by more than 15 percent compared with June 2017. In general, export sales of […]

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Fear not humans: Artificial intelligence to create millions of jobs, predicts PwC

By ethan / July 21, 2018

Artificial intelligence (AI) and related technologies will generate as many jobs as they displace over the next 20 years, according to a report by audit firm PwC which focused mainly on the United Kingdom. The research found that while AI could displace roughly seven million jobs in the country, it could also create 7.2 million […]

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Gold to prove crucial hedge against next financial crisis – analyst

By ethan / July 21, 2018

While unsteady financial markets are bouncing up and down due to trade and geopolitical conflicts as well as political uncertainty, some investors turn to less risky assets, principally to gold. According to the recent report by the London-based consultancy Rosa & Roubini Associates, the latest developments in Italy could easily trigger another global financial crisis. […]

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S&P affirms Russia's credit rating, says Moscow is able to weather new sanctions

By ethan / July 21, 2018

S&P Global has affirmed Russia’s BBB long-term and short-term sovereign credit rating, noting that the country’s balance of payments and fiscal health should allow it to weather challenges that might arise from future sanctions. In its ratings update on Friday, S&P affirmed Russia’s BBB/A3 foreign currency sovereign credit score with a stable outlook and its BBB/A2 […]

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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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