All posts in "Business"

Iraq plans to build new refinery in seized Kirkuk – oil ministry

Published time: 17 Oct, 2017 14:15 Edited time: 17 Oct, 2017 14:15 Iraqi Oil Minister Jabar al-Luaibi has announced plans to construct a new refinery in the oil-producing region of Kirkuk, which has become the scene of open conflict between Baghdad and the Kurdistan Regional Government (KRG). Read more The Iraqi government also plans to […]


France considers massive tax hike on hard liquor

Published time: 17 Oct, 2017 14:32 The price of cognac and calvados could increase significantly in France as the government plans a tax increase on strong alcoholic drinks. The measure will be part of a crackdown on beverages that negatively affect health. Read more The proposal is part of the government’s new social security budget, […]


Bitcoin worse than casino gambling – Russian economy minister

Published time: 17 Oct, 2017 14:35 As an investment bitcoin is less predictable than playing roulette in a casino, and unqualified investors shouldn’t have access to instruments with such a high volatility, according to Russian Economic Development Minister Maksim Oreshkin. Read more “As for bitcoin, if you look at how the value of this asset […]


Nobel-winning economist Robert Shiller calls bitcoin ‘a fad’

Published time: 17 Oct, 2017 11:40 The enthusiasm people are showing toward bitcoin is strange, according to American economist Robert Shiller who has called the cryptocurrency a fad comparing it to the bimetallism phenomena. “I’ll take bitcoin, too, because I know I can sell it and get out of it. There seems to be some […]


Vast majority in Czech Republic reject euro in favor of national currency

Published time: 17 Oct, 2017 12:04 Over 85 percent of Czechs are against the idea of replacing the koruna with the euro, according to a poll by Datamar before parliamentary elections. Read more “In Czech society, a negative outlook on the republic’s entry into the eurozone prevails. A total of 85.2 percent of respondents said […]


Putin green lights launch of the CryptoRuble

Published time: 17 Oct, 2017 10:59 Russian President Vladimir Putin has ordered the issue of a national cryptocurrency, according to Communications Minister Nikolay Nikiforov, after a closed-door meeting. Read more The minister said once the digital currency or CryptoRuble is issued other cryptocurrency mining will be banned and it will be entirely regulated by the […]


Oil prices rising as Iraqi forces advance on Kurdish-held territory

Published time: 16 Oct, 2017 14:18 Edited time: 16 Oct, 2017 14:18 Global crude prices have hit a three-week high as the conflict between Iraqi and Kurdish forces intensifies. Iraqi troops are advancing on the city of Kirkuk, reportedly seizing the region’s oil fields. Read more West Texas Intermediate crude rose 1.6 percent to $ […]


Russia on track to break 40-yr Soviet record on grain harvest

Published time: 16 Oct, 2017 14:35 Russia is due to reap an all-time high grain harvest this year, breaking the Soviet era record from before the war in Afghanistan. Read more The country expects to harvest at least 128 million tons of grain by the end of the year, Petr Chekmarev from the Ministry of […]


Foreign investments in Russia on the rise, spurred by economic growth

Published time: 16 Oct, 2017 14:45 Russian economy’s revival has led to increased foreign investments in the country, said Economic Development Minister Maksim Oreshkin at a meeting of the Foreign Investment Advisory Council held by Prime Minister Dmitry Medvedev. “The volume of foreign direct investment more than doubled in the first half of the year, […]


Oil price collapse cost OPEC countries over $1tn

Published time: 16 Oct, 2017 09:48 Edited time: 16 Oct, 2017 09:52 The Organization of the Petroleum Exporting Countries (OPEC) has lost over $ 1 trillion since the oil prices more than halved since mid-2014. Read more “Over the past two years, we saw not only a drop in investment in the sector but also […]

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