Category: Markets
Somalia Inches Closer to Reaping Petrol Dollars
Somalia is set to inch close to oil exploration with the unveiling of the block delineation and legal and regulatory framework to guide the sector on Thursday. The move is the first in over three decades, when the industry brome in to anarchy. The unveiling of the laws and the blocks will set in motion…
Are Russia, China & Turkey bringing back the gold standard? Keiser Report
Global central banks bought more bullion last year than at any time since 1971, when the US ended the gold standard. Governments added 651.5 tons of gold to their coffers in 2018, according to the World Gold Council. It said that Russia, China and Turkey are leading the gold-buying spree. That could mean the three…
JPMorgan Is Thrust Into Middle of Venezuela’s Debt Dispute
(Bloomberg) — JPMorgan Chase & Co (NYSE:JPM). suddenly finds itself caught in the middle of the struggle for power in Venezuela. The dilemma surrounds the bank’s bond indexes, long the industry standard for gauging emerging-market performance. After the U.S. slapped sweeping sanctions on Nicolas Maduro’s regime last week, trading in the nation’s defaulted debt grounded…
Oil Prices Fall as Russia Shrugs off Immediate Increase to Cooperation With OPEC
After a brief respite from a smaller-than-expected build in U.S. crude inventories, oil prices returned to the downward path on Thursday as Russia shrugged off any urgency to formalize additional cooperation with OPEC on reducing the global supply through production cuts. New York-traded West Texas Intermediate crude futures fell 81 cents, or 1.50%, at $54.21 a barrel…
Ethiopia seized 7kg smuggled gold , over US $1.5 million
Ethiopia’s Ministry of Revenue claims that it has seized 7 kilograms of smuggled gold. As well, US $ 1,527, 714 is seized. The news was covered main in state and state affiliated news sources. FBC also cited Adanech Abebe, the minster, to report that €8,280,£31,990, CAD25,665,AUD 8,880, KD1,393, SFr.690,kr 80,870, QR 4,810, UAE dirham 72,715,BD904,…
Ethiopia Bans Alcohol Commercials
Ethiopians Parliament on Wednesday has passed a new law that bans alcohol commercials on broadcast media. The new law aims to protect children and the youth from being seduced by the commercials of liquor and become addicted and unproductive. It also plans to address the consequences of alcohol consumption on the health of individuals and…
Somali Petroleum ministry accused of Illegal bid to sell oil blocks
Somalia’s petroleum ministry is being accused of attempting to illegally auction off the country’s oil blocks, the upper house of parliament has noted. The petroleum minister, Abdirashid Mohamed Ahmed, who denies that any bidding will take place is due to attend an event in London on Thursday where he says the results of seismic surveys…
Somalia: Somali Oil Conference Protest in London
LONDON (HAN) February 7th, 2019. Public Diplomacy and Regional Security. Somalia is having Oil Conference in London. They say they won’t allow bidding during the event anymore but will only present new oil data.
Stocks – Dow Ends Three-Day Winning Streak as Video Game Stocks Slump
Investing.com – The Dow ended its three-day winning streak Wednesday as a slump in video game stocks offset gains in healthcare stocks. The Dow Jones Industrial Average slipped 0.08%, the S&P 500 fell 0.20%, while the Nasdaq Composite lost 0.36%. The S&P 500’s loss was its first after five straight gains. Electronic Arts and Take-Two Interactive came under heavy selling pressure after delivering…
Somali: How Cryptocurrencies Can Protect Citizens Against (Hyper)Inflation
Cryptocurrencies are often associated with strong price fluctuations that some argue make them unusable as day-to-day spending currencies. However, the reality is that the world’s leading digital currency bitcoin has helped to act as a store of value and as an alternative currency in countries that are suffering from high levels of inflation and weakening…
