IMF Forecasts $1 Trillion Windfall For Oil Exporters, Higher Savings in Gulf
The International Monetary Fund expects energy exporters in the Middle East and Central Asia to make a cumulative windfall of around $1 trillion during 2022-2026, a bonanza that will contribute greatly to the Gulf Arab economies because they will save much more of their oil revenues. The influx of petrodollars would be higher than projected […]
Bitcoin’s Hold Above $20,000 Gives Bulls Hope For a Lasting Rally
Bitcoin’s four-day streak above $20,000 has strengthened cryptocurrency traders. They have bet the token should resurface after a brutal year. On Tuesday, the largest cryptocurrency by market value advanced above $20,000. And as of Friday morning in New York, it had yet to fall below that threshold. The breakout marked the end of a nearly […]
New Delhi Gives Itself Power Over Social Media Content Moderation
The Indian government has announced changes to its information technology rules. All rules that will apply to social media companies are a move that is likely seen as holding back big tech companies. It would be under the amended rules. It was announced on Friday. A government panel will be formed to hear user complaints. […]
Elon Musk Takes Over Twitter in $44 Billion Deal
Elon Musk has officially taken control of Twitter after finalizing a $44 billion deal to buy the social network. In one of his first decisions at the helm of the social media giant, Musk, the world’s richest man, fired three top executives, including CEO Parag Agrawal, several U.S.-based media outlets reported Thursday, citing people familiar […]
Hiring in China’s Small Businesses Doesn’t Pick Up From Record Low
Hiring activities for China’s smallest companies were near a record low last month, underscoring how the slump due to a property recession and Covid Zero controls is affecting companies that are the backbone of the economy. The Blue Collar employment index for small and medium-sized enterprises, which are mainly in manufacturing and services, showed little […]
New NASA Instrument Detects Methane ‘Super-Emitters’ from Space
NASA scientists, using a tool designed to study how dust affects climate, have identified more than 50 methane-emitting hot spots around the world, a development that could help combat the potent greenhouse gas. NASA said Tuesday that its Earth Surface Mineral Dust Sources (EMIT) Investigation had identified more than 50 methane “super-emitters” in Central Asia, […]
China’s Crude Imports and Refining Increased After the Maintenance
China’s oil imports and crude processing rose last month as refineries returned from seasonal maintenance, while net exports of fuel products rose after the allocation of a new quota. Inbound oil shipments rose to 9.83 million barrels per day, the highest level since May, according to Bloomberg calculations based on government data released Monday. Crude […]
Retail Giant Walmart Outlines Crypto Strategy
Executive Talks about Crypto in Walmart’s Future Walmart’s Global Chief Technology Officer and Chief Development Officer Suresh Kumar discussed cryptocurrency at Yahoo Finance’s All Markets Summit on Tuesday. Responding to a question about Crypto’s role in Walmart’s future, Kumar said, “I think there are three main areas of disruption. Crypto falls in the middle. I’ve […]
Malaysian Media Says Israel’s Mossad Behind Palestinian Kidnapped
Israel’s Mossad intelligence agency is believed to be behind the abduction of a Palestinian man who was abducted from a street in the capital, Kuala Lumpur, and interrogated before being released by police, a Malaysian news organization reported. Malaysia’s New Straits Times reported Tuesday that the Palestinian computer programmer was crammed into one of two […]
UN ‘Deeply Distressed’ Over Dispossessed Refugees Found by Greece
The UN refugee agency (UNHCR) says it is “deeply distressed by shocking reports and images” of 92 people found at the Greek-Turkish land border stripped of their clothes. “We condemn such cruel and degrading treatment and call for a full investigation into this incident,” UNHCR said on Twitter on Sunday. Ankara and Athens traded accusations […]