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China ditching US coal imports for domestic supply in trade tariff tit-for-tat

By ethan / August 22, 2018

Washington trade tariffs against Beijing appear to be backfiring on the US coal industry, as Chinese importers are finding new domestic alternatives to soften the blow. “We have completely stopped US metallurgical coal (imports), which is popular among steel mills, in late July. There is too much uncertainty in trade,” a senior manager at a […]

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Church of England ditching energy stocks ‘to safeguard God's creation’

By ethan / July 9, 2018

The Church of England will divest its $ 16 billion investment portfolio from companies that are not meeting the requirements specified in the Paris climate agreement. Read more The church said its responding to climate change and the decision “is an essential part of our responsibility to safeguard God’s creation.” The General Synod, the church’s […]

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Major Chinese banks ditching US dollar to prop up domestic currency

By ethan / July 3, 2018

China’s state-owned banks have reportedly been buying US dollars in forwards on behalf of the central bank (PBOC) and immediately selling them into the spot market to support the yuan. PBOC deputy governor and head of the foreign exchange regulator Pan Gongsheng said China was confident it could keep the yuan basically stable and at […]

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Russia & India ditching US dollar in defense deals

By ethan / June 19, 2018

Moscow and Delhi are seeking to bypass US sanctions by using the rupee and the ruble in facilitating military deals, according to Indian daily, the Economic Times. The paper reports that US sanctions are hampering $ 2 billion in defense deals between Russia and India, as payments are getting stuck. The countries are seeking to […]

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Russian corporations ditching London for Moscow amid expanding sanctions

By ethan / June 18, 2018

After the London Stock Exchange (LSE) suspended share trading of sanctioned energy conglomerate EN+Group, other Russian firms are thinking of scrapping their stock listings in the UK in favor of the Moscow Stock Exchange (MOEX). Cherkizovo Group, one of Russia’s major producers and processors of poultry and pork, is considering a move to MOEX after […]

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Russia & Belarus ditching dollar trade in favor of national currencies

By ethan / June 13, 2018

The Belarusian Prime Minister, Andrey Kobyakov, has called for a complete shift away from the US dollar towards national currencies in Russia-Belarus trade and price-setting. “That would be great if the entire trade turnover, as well as price-formation were set in national currencies,” Kobyakov said during the session of the Council of Ministers of the […]

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