Sun, September 25, 2022

Economy

Russia

Russia Anticipates Higher Economic Returns This Year

According to a top government official, Russia’s economy will have a less severe decline than anticipated over the following years and may begin to expand on a quarterly basis as early as the end of 2022.   According to Russian news outlets, Economy Minister Maxim Reshetnikov stated that the administration was now predicting a 2.9% …

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Turkey

Erdogan In A Dilemma, Turkey’s Inflation Reached 70%

According to figures released on Thursday, Turkey’s annual inflation hit a two-decade high of 69.97 percent in April, fueled by the Russia-Ukraine conflict and soaring energy and commodity costs following last year’s currency fall.   Just over a year before presidential and legislative elections that might end President Tayyip Erdogan’s lengthy reign, the price rise …

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The Eu’s Oil Embargo Risks Escalating Already High Inflation

The Eu’s Oil Embargo Risks Escalating Already High Inflation

For more than half of their crude imports, most Eastern European nations still rely on Russia. With the decision to cut off Russian oil shipments, European countries already suffering from record inflation risk exacerbating their predicament.   While European Commission President Ursula von der Leyen promises that the planned embargo will be implemented “in a …

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Israel Slams Russian Foreign Minister’s Anti-Semitic Note

Israel Slams Russian Foreign Minister’s Anti-Semitic Note

In comments about ‘denazifying’ Ukraine, Sergey Lavrov indicated Hitler had Jewish origins, prompting Israel to demand an apology. Israel has condemned Russian Foreign Minister Sergey Lavrov for making “unforgivable” remarks on Nazism and anti-Semitism, including that Adolf Hitler had Jewish ancestors, and demanded an apology from Moscow.   Israel summoned the Russian ambassador for “clarifications” …

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The UN Deputy Believes The 'Hindsight Is 20/20'

The UN Deputy Believes The ‘Hindsight Is 20/20’

Amina Mohammed of the United Nations described the Russia-Ukraine situation as “a major jolt to the system.”   Mohammed also leads the Global Crisis Response Group on Food, Energy, and Finance, which he previously chaired as Nigeria’s minister of environment. It was established by United Nations Secretary-General António Guterres to examine the larger effects of …

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The Economic Turmoil Is Here To Stay

The Economic Turmoil Is Here to Stay

Scott Morrison has acknowledged that costs of ordinary things are rising. Still, he has emphasized that this is due to external reasons. On Friday, Opposition Leader Anthony Albanese emerged from COVID-19 solitude; hence, the campaign trail’s attention shifted back to growing living costs. According to the prime minister, increased inflation and strain on household budgets …

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Russia

Russia Rejects Germany’s Ruble Payment and Supply To Poland

Bloomberg reported that Russia’s Gazprombank rejected a ruble payment from a trading business Germany had seized from Moscow. The payment was for gas deliveries to Germany and Austria in April and May. Russia cut off gas supplies to Poland and Bulgaria on Wednesday. According to Bloomberg, Russia’s Gazprombank turned down a ruble payment from a …

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