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Venezuelan opposition could soon take over Citgo

By ethan / February 13, 2019

The Venezuelan opposition led by Juan Guaido could soon become the owner of PDVSA’s US refining business, Citgo, in what would only deepen the chaos surrounding the country’s state oil company. Guaido declared himself interim president and appointed an interim government in anticipation for new elections after he decried incumbent Nicolas Maduro’s second victory earlier […]

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As US piles on sanctions, foreign investors pour more money into Russia

By ethan / February 13, 2019

Russian companies’ stocks attracted the most foreign investment in 5 years, adding nearly $ 576 million in January, the Central Bank of Russia reported. Investors also actively poured money into Russian bonds despite US sanctions. The ruble-based Moscow stock exchange (MOEX) index has reached a new all-time high, surging 6.4 percent since the beginning of […]

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History made: US national debt tops $22 trillion

By ethan / February 13, 2019

The US national debt has climbed above $ 22 trillion. It is projected to continue rising by a trillion each year over the next decade, due to the cost of pensions and medical care for the retiring Baby Boomers. On Tuesday, the US Treasury Department published the daily statement showing outstanding public debt standing at […]

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Blast from the past: Putin wants Russian civilian air travel to go supersonic once again

By ethan / February 12, 2019

Russian President Vladimir Putin has backed the idea of a domestically-built supersonic passenger aircraft based on the “brilliant” Tu-160 strategic bomber recently developed for the military. “We now need to go back to supersonic passenger travel. We should think about it,” Putin told the public as he visited the city of Kazan on Tuesday. The […]

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Cheap ticket trick? Lufthansa airline sues passenger for missing flight

By ethan / February 12, 2019

Germany’s Lufthansa airline wants to punish a passenger who allegedly took advantage of their ticket pricing by ditching the last leg of a booked flight. The case may put an end to a loophole exploited by seekers of cheap flights. One of Europe’s major airlines and the largest one in Germany wants to recoup lost […]

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Italy wants to sell national gold reserves to avoid next year's tax hike

By ethan / February 12, 2019

The Italian government is considering selling the country’s gold holdings in an attempt to avoid an increase in value-added tax (VAT) next year, one of Italy’s oldest newspapers La Stampa reported. The news comes amid a law proposal drafted by Italy’s ruling League party. The new amendment is set to allow the sale of the […]

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China on gold-buying spree amid global push to end US dollar dominance

By ethan / February 12, 2019

Beijing has joined the global gold rush, increasing its gold reserves for two months in a row to 59.94 million ounces. China has long been silent on its holdings of gold as many countries are turning away from the greenback. China’s national gold reserves rose by 0.38 million ounces (nearly 12 tons) at the end […]

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Saudi Arabia to invest in Russian tourism sector – head of Russia’s wealth fund

By ethan / February 11, 2019

Russia and Saudi Arabia are planning to ramp up mutual investments in tourism projects, the CEO of the Russian Direct Investment Fund (RDIF), Kirill Dmitriev, told journalists Monday. “Saudi investments into Russia, including those into tourism, are set to grow in the near future,” Dmitriev said during his visit to the kingdom. “The Russian-Chinese-Saudi Fund […]

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