Thursday, January 17, 2019

Egypt’s Sisi defends tough but unavoidable economic reforms ahead of IMF loan

Egypt's President Abdel Fattah al-Sisi has defended what he described as "tough but unavoidable" reforms ahead of a $12bn International Monetary Fund loan to revive his country's ailing economy. "The reforms are tough but they're unavoidable to save the economic situation," Sisi said in an interview published on Saturday by...

It’s time to buy uneconomic gold companies

It may sound counterintuitive, but now is the time to buy companies where gold will remain in the ground for the foreseeable future. It is a strange phenomenon, but for companies that own mega-sized gold projects, the best thing to do is nothing! No, this is not the worst investment...

Germany Can Protect the Liberal Order

As U.S. President Barack Obama arrived in Berlin for a farewell visit on Wednesday, German policymakers were scrambling to develop a road map for dealing with the presidency of his successor, Donald Trump. Last week, in a congratulatory note to the president-elect, German Chancellor Angela Merkel gently conditioned Germany's...

First Silk Road train arrives in Tehran from China

Tehran (AFP) - The first train to connect China and Iran arrived in Tehran on Monday loaded with Chinese goods, reviving the ancient Silk Road, the Iranian railway company said. The train, carrying 32 containers of commercial products from eastern Zhejiang province, took 14 days to make the 9,500-kilometre (5,900-mile)...

Erdogan Has Nobody to Blame for the Coup but Himself

After years of broken promises and deepening paranoia, the Turkish president earned his comeuppance. This is not what President Recep Tayyip Erdogan meant when he said he wanted to transform Turkey. The tanks and gunfire in the streets of Ankara mark the fifth time since 1960 that the Turkish military...

The unknown German branch of Nord Stream 2 will make Germany the key gas...

Despite causing great controversy in the EU, plans to build the Nord Stream 2 gas pipeline are steadily being implemented, write Agata Loskot-Strachota and Konrad Poplawski of the Centre for Eastern Studies (OSW) in Poland. What is more, in May preparations were started for a German land leg of...

Hedge Funds Rush Into Debt Trading With $108 Billion

Hedge funds using debt-trading strategies honed on Wall Street are expanding at a record pace as they profit from risks big banks are no longer taking. BlueCrest Capital Management LLP doubled its New York staff in the two years through December, while Pine River Capital Management LP increased its global...

In Kerry’s Own Words: Syria Prohibited from Attacking al-Qaeda

No wonder the United States insisted that its Syria ceasefire deal with Russia remain secret! It turns out that one of the US demands was that the Syrian air force must be prohibited from attacking al-Nusra Front (al-Qaeda in Syria). Crazy conspiracy theory? Listen to John Kerry's own words...

ECB can only buy time, not solve eurozone growth woes

Mario Draghi’s efforts will count for little without structural reforms and more aggressive use of fiscal policy by European governments. For most of its short life, the European Central Bank fretted about inflation being too high. Now it has the opposite concern. The fear of deflation explains the package of measures...

U.S. finalizes $30 billion weapons deal with Saudi Arabia

White House says agreement – under which 84 F-15 fighter jets will be sold to the kingdom, will help U.S. economy and strengthen regional security. The U.S has finalized the sale of F-15 fighter Jets to Saudi Arabia in a deal worth 30 billion dollars, Principal Deputy Press Secretary Joshua...

Syrian rebels say reinforcements get free passage via Turkey

Syrian rebels have brought at least 2,000 reinforcements through Turkey in the past week to bolster the fight against Kurdish-led militias north of Aleppo, rebel sources said on Thursday. Turkish forces facilitated the transfer from one front to another over several nights, covertly escorting rebels as they exited Syria's Idlib...

Turkey ready to resume pipeline project with Russia

MOSCOW (AP) — Turkey's economy minister says the country is ready to resume work on building a gas pipeline from Russia, a project that was suspended amid tensions between the two countries. The project, called Turkish Stream, would bring gas from Russia to Turkey, from where it could be distributed...

Riyadh satisfied with US assurances on Iran deal

Saudi FM says leaders of the two countries have agreed on ways to counter Iran's "negative activities" in the region. Saudi Arabia has said it is satisfied with US assurances on its nuclear deal with Iran, following talks between US President Barack Obama and Saudi King Salman in Washington DC. At...

Iraq’s leader to seek arms, with deferred payment, on U.S. visit

(Reuters) - Iraq's prime minister will seek President Barack Obama's help to acquire billions of dollars in drones and other U.S. arms to fight Islamic State during a U.S. visit next week but wants to defer payment for the purchases, a senior Iraqi official said. Prime Minister Haidar al-Abadi is...

More Squandered Opportunities to Deal With the New Cold War

The enemies of détente with Russia sabotaged Obama's proposed alliance with Russia in Syria while the American presidential debate ignored all the perilous issues inherent in the Cold War. Nation Contributing Editor Stephen F. Cohen and John Batchelor continue their weekly discussions of the new US-Russian Cold War. In this...

May trade deficit jumps 10% as U.S. consumers snap up more imports

Trade gap climbs to three-month high of $41.1 billion. WASHINGTON (MarketWatch) — Higher oil prices and stronger demand by consumers for imports such as cell phones, sneakers and home furnishings boost the U.S. trade deficit in May by 10% to a three-month high. The nation’s trade gap climbed $41.1 billion from...

Hacking Team hacked: firm sold spying tools to repressive regimes, documents claim

Cybersecurity firm has 400GB of what purport to be its own documents published via its Twitter feed after hack. The cybersecurity firm Hacking Team appears to have itself been the victim of a hack, with documents that purport to show it sold software to repressive regimes being posted to the...

Profit Slump for S&P 500 Heads for a Sixth Straight Quarter

Analysts have been cutting estimates for U.S. earnings, after earlier projecting a return to growth during the third quarter. The third quarter was supposed to be when earnings growth returned to U.S. companies. Not anymore. Companies in the S&P 500 are now expected to report an earnings decline for the sixth...

Israeli general sees common interests with Hamas

Israel and Hamas share common interests, and the Palestinian Islamists must stay in power in the Gaza Strip to prevent the enclave descending into chaos, an Israeli general was quoted as saying on Tuesday. Major-General Sami Turgeman, who as commander of Israel's forces outside Gaza had a leading role in...

Tamar and Leviathan Gas Fields Worth $52 Billion to Israel

E&Y Israel partner Shlomo Alfia estimates the savings at $42 billion and the government’s take at $10 billion in capitalization value. The natural gas in the Tamar and Leviathan fields is worth $52 billion to the Israeli economy, says Ernst & Young Israel in a new report. The CPA firm...

SCO alignment of regional cooperation with Belt and Road Initiative – Chinese Commerce Minister

TASHKENT, June 24 (Xinhua) -- The Shanghai Cooperation Organization (SCO) will enter a new phase of aligning regional economic cooperation with fulfillment of the "Belt and Road" initiative, on the basis of great contribution in the past, a senior Chinese official said here Thursday. During the past 15 years since...

Officials: ISIS Arose From US Support For al-Qaeda In Iraq

A former Pentagon intelligence chief, Iraqi government sources, and a retired career US diplomat reveal US complicity in the rise of ISIS. A new memoir by a former senior State Department analyst provides stunning details on how decades of support for Islamist militants linked to Osama bin Laden brought about...

Henry Kissinger Will Eat Sh*t and Endorse Hillary Clinton

The ghost of Richard Nixon is back. And he’s mad as hell about the former secretaries of state and the Washington establishment. Henry Kissinger will endorse Hillary Clinton. I haven’t spoken to him about it. We rarely speak. Henry is busy with his crowd: trendies, sophisticates, beautiful people. I have my...

Finland signs nuclear construction deal with Russian firm

HELSINKI (AP) — Finnish utility Fennovoima said Thursday it has awarded the main contract for constructing a nuclear plant in Finland to the Russian company Titan-2. Fennovoima said it has completed the approval process for the company, which was signed up for the deal in January by Fennovoima’s partner in...

In Ukraine, U.S interests are incompatible with the interests of the Russian Federation Stratfor...

George Friedman, the well-known American political scientist, recently visited Moscow. Stratfor, the private analytical and intelligence agency which he directs, is often referred to in the US as a "shadow CIA." In an interview with "Kommersant" he talked about what goals the United States is pursuing in Ukraine, and...

Russia LNG Plant Gets $12 Billion From China Amid Sanctions

Russia's Yamal LNG, the biggest project to produce liquefied natural gas in the Arctic, signed loan agreements with two Chinese banks after more than a year of discussions with its majority shareholder targeted by U.S. sanctions. The accords signed with the Export-Import Bank of China and the China Development Bank...

Why are Russia and China Buying Gold, Tons of it?

Gold is one of the most fascinating of all rare metals. Throughout all history it has been given a special, at times sacred or spiritual value, since six thousand years ago when the Egyptian Pharoahs’ tombs were filled with it to accompany the dead on their journey. In times...

Australia Caught in Middle of US-China Power Tussle

Canberra could struggle to balance its interests as tensions rise over the AIIB and TPP. Tensions between the United States and China over the Chinese-led Asian Infrastructure Investment Bank (AIIB) are the next embodiment of a hard and soft power battle for economic and political dominance in the Asia-Pacific, and...

Congress Moves Again to Block Investigation of Congressional Insider Trading

Lawyers for the House of Representatives have escalated their legal fight to block the first-ever congressional insider trading investigation. The case revolves around allegations that Brian Sutter, a former senior staff member of the Ways and Means Committee, passed along nonpublic information concerning a Medicare reimbursement rate change to a lobbyist...

Quantitative easing useful when all else fails, says Fed official Loretta Mester

A top official from the US Federal Reserve says quantitative easing has "proven useful", but the likely path of US monetary policy is still for interest rate rises. Talk of further unconventional monetary policies globally has increased as Japan reaches the limit of what negative interest rates and quantitative easing...

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