Chinese billionaires boost their fortunes at record pace despite coronavirus crisis
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Covid-19 has not stopped China’s super-rich from making more money. Thanks to booming share prices and new stock listings, they now own a combined fortune of $4 trillion – a sum greater than the economy of Germany. Read Full Article at RT.com
China rolls out red carpet for US firms, promising to create fair market environment
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China’s industry ministry said on Monday that US companies are welcome to actively participate in its market despite trade tensions between Beijing and Washington. It has promised a fair and just environment. Read Full Article at RT.com
Russia could face double-digit drop in gas exports as pandemic cripples demand
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The coronavirus outbreak and warmer-than-average winter season in Europe may push Russian natural gas exports down by 16 percent this year, Russia’s National Rating Agency (NRA) has warned. Read Full Article at RT.com
Big Banks could lose billions in the global energy transition
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As the world undergoes its incredible transition to lower carbon energy alternatives, Big Banks are turning their backs on the oil industry. Read Full Article at RT.com
The $16 TRILLION bug: Pandemic could cost US economy its entire annual output
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The US economy may lose a whopping $16 trillion due to the devastating impact of the Covid-19 outbreak, both in output and people’s lives, new research has found. Read Full Article at RT.com
China’s oil imports are falling as storage fills up
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China, which has been on an oil-buying binge since the start of the pandemic, is now retreating as storage space fills up and demand for fuels in the regions it exports them to remains weak. Read Full Article at RT.com
Russia among TOP 10 countries leading global digital banking revolution
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A new survey by Deloitte has found that Russian banks are among the world leaders in terms of digitalization of their services, exceeding the global average in five out of the six key indicators. Read Full Article at RT.com
More than 100,000 jobs were lost in the US oil exploration and production industry between March and August this year, mostly as a result of the coronavirus pandemic. Another 35,000 jobs were shed in the downstream segment. Read Full Article at RT.com
Russia’s ALROSA leading global diamond production amid Covid-19 pandemic – Putin
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Russian gem miner ALROSA has taken the top position in global diamond production during the coronavirus pandemic, President Vladimir Putin said during a meeting with the company’s CEO, Sergey Ivanov. Read Full Article at RT.com
China will be the only major economy to see growth this year as world braces for long recovery from Covid-19 crisis – IMF
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With most of the world facing a deep recession due to the coronavirus pandemic, China will be the only major economy to climb back from the depths of the historic crisis in 2020, according to the International Monetary Fund (IMF). Read Full Article at RT.com
Europe’s aviation regulator says Boeing’s troubled 737 MAX is safe to fly again, but US’ FAA holds back on decision
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The European Union Aviation Safety Agency (EASA) has declared Boeing’s 737 MAX aircraft safe to fly, announcing on Friday that the grounded aircraft could return to the region’s skies before the end of 2020. Read Full Article at RT.com
Stock markets will fall dramatically if US election results contested, Mark Mobius warns
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Equity markets will not like a disputed outcome of the US presidential election, and could react with a “dramatic fall,” said Mark Mobius, a veteran investor and founding partner of Mobius Capital Partners. Read Full Article at RT.com
Philippines lifts ban on oil exploration in South China Sea opening door to potential energy deal with Beijing
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The Philippines is lifting a moratorium on oil and gas exploration in the South China Sea that could lead to the Philippines and China potentially creating a joint venture to explore for resources. Read Full Article at RT.com
Pakistan invites US firms to bring in investment & advanced technology
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Pakistani Federal Minister for Information Shibli Faraz says his country would welcome investment by American companies. He also expressed desire for US companies to bring in advanced technology. Read Full Article at RT.com
Coronavirus pandemic to blow $28 TRILLION hole in global economy
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This year’s output figures will be reminiscent of the 1930’s Great Depression, according to the International Monetary Fund (IMF). It said that the world is at risk of significantly lowered investment, trade and job numbers. Read Full Article at RT.com
US considers blacklisting Jack Ma’s Ant Group in latest round of trade war with China – report
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The US State Department has submitted a proposal for the Trump administration to add China’s Ant Group to a trade blacklist, Reuters reported, citing two people familiar with the matter. Read Full Article at RT.com
India to bounce back from Covid crisis with impressive growth to become fastest-growing emerging economy – IMF
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The Indian economy, which has been severely hit by the coronavirus pandemic, will start recovering from the “horrible crisis” if the government ramps up efforts on both the fiscal and the monetary sides, the IMF has said. Read Full Article at RT.com
Why Saudi Arabia may be forced to start another oil price war
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Saudi Arabia and Russia are both suffering from low oil prices and economic crises, and with demand not recovering fast enough we may soon see another oil price war. Read Full Article at RT.com
How Huawei survives on European market despite Trump’s pressure – RT’s Boom Bust investigates
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Washington has ramped up pressure against Huawei to shut down the Chinese telecom giant’s 5G reach worldwide. However, the attempt to block Huawei from accessing semiconductors is failing in parts of Europe. Read Full Article at RT.com
Saudi Arabia opens its market for more Russian exports
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As Russia seeks to expand exports to Persian Gulf states, more of the country's producers have been granted access to one of the major markets of the region, Saudi Arabia, according to Russia’s agricultural watchdog. Read Full Article at RT.com
Keiser Report explores if bosses should reimburse employees for toilet paper in ‘work from home’ era
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The hosts of the Keiser Report look at the difference between Europe and America during the pandemic. In the Netherlands, workers are bargaining for the right to be reimbursed €2 per day for toilet paper while working from home. Read Full Article at RT.com
US killing dollar with addiction to ‘ever-increasing doses of monetary heroin’ – Peter Schiff
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Stock markets tanked as US President Donald Trump abandoned stimulus talks until after the election. Trump is now in the process of out-Democrating the Democrats on the stimulus issue, economist Peter Schiff says. Read Full Article at RT.com
US box office may plunge over 80% this year as Covid-19 forces Hollywood to push back blockbuster releases
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The uncertainty triggered by the coronavirus crisis that has led to delays of big-budget films offers grim prospects for the US box office, an analyst from research company MoffettNathanson believes. Read Full Article at RT.com
Global stocks hit multi-week highs on China optimism & hopes for more coronavirus stimulus
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Stocks in Europe and Asia as well as US futures traded higher on Monday as investors bet on positive economic data from China and expect US lawmakers to pass a new stimulus package amid the rising number of Covid-19 cases. Read Full Article at RT.com
Chinese IPOs on US exchanges accelerated under Trump – report
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Pressure on Chinese firms has failed to stop them from listing on the US stock market, with the number of IPOs during Trump’s four years in office almost reaching those during the eight years of Barack Obama’s presidency. Read Full Article at RT.com
US cash infusions led to the rise of zombie companies – RT's Keiser Report
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As the US government pumped trillions of dollars into the economy in an attempt to mitigate the impact of Covid-19, the government aid is turning more and more firms into «zombies,» RT's Keiser Report found out. Read Full Article at RT.com
Russian car sales rebound again as coronavirus continues to push European auto markets down
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Demand for new cars rose in Russia last month, with sales surging as much as 3.4 percent compared to the same period last year, while growing coronavirus uncertainties still affect the auto industry in many European countries. Read Full Article at RT.com
Libya’s oil industry lifts force majeure on its biggest oilfield
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Libya’s National Oil Corporation (NOC) has announced it is ending force majeure on the Sharara oilfield, the nation’s largest deposit, marking another milestone for the recovery of the country’s oil production. Read Full Article at RT.com
Tehran accuses Washington of ‘economic terrorism’ after US sanctions major Iranian banks
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Iran’s ambassador to the United Nations, Majid Takht-Ravanchi, has condemned US sanctions against Iranian banks as an act of economic terrorism, designed to create suffering and social unrest with the aim of regime change. Read Full Article at RT.com
Iran is building a massive energy network to boost its geopolitical influence
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Tehran’s plan to connect Iraq, Jordan, and several GCC states including Saudi Arabia to its grid could be a powerful move to expand its influence in the entire region. Read Full Article at RT.com
‘Worst is behind’ for India with economy returning to growth, says veteran banker
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India’s gross domestic product (GDP) will be in positive territory in the fourth quarter of this year as demand picks up across all sectors of the economy, says veteran banker Deepak Parekh. Read Full Article at RT.com
Russia’s weekly gold & foreign currency reserves surge by over $5 BILLION
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Russia continues to boost its gold and foreign exchange (forex) holdings, which have reached a total of $585.8 billion according to the latest data released by the country’s central bank. Read Full Article at RT.com
Tens of trillions of dollars are siphoned offshore & put into secret private bank accounts, analyst tells RT’s Keiser Report
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The new episode of Keiser Report looks into how economic value has lost all meaning, when the market is fake and the Federal Reserve’s free money is used for leveraged buyouts of the entire economy. Read Full Article at RT.com
India launches antitrust probe into Google’s alleged abuse in smart TV market – report
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Silicon Valley giant Google is facing a new antitrust case in India in which it is alleged to have abused its Android operating system’s position in the smart television market. Read Full Article at RT.com
Poland slaps huge fine on Russian gas pipeline that doesn’t even cross its borders
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Poland’s antitrust watchdog UOKiK said on Wednesday it has imposed a 29 billion-zloty ($7.6 billion) fine on Russia’s Gazprom over the Nord Stream 2 gas pipeline, designed to boost gas supplies to the EU. Read Full Article at RT.com
Billionaires’ wealth tops $10.2 TRILLION as millions struggle amid pandemic
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A new report by UBS and PwC reveals that the world’s super-rich “did extremely well” during the coronavirus crisis this year, increasing their already-huge fortunes by more than a quarter. Read Full Article at RT.com
Second Covid-19 wave will accelerate Russia’s GDP decline, but economy will do better than European peers – Kudrin
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The Russian economy may perform worse than the government expects this year, Russia’s Accounts Chamber head, Alexei Kudrin, warned. However, the contraction would be in line with the global forecast and not as deep as in Europe. Read Full Article at RT.com
World's second-biggest cinema chain Cineworld reportedly closing all venues in US, UK & Ireland amid fresh James Bond film delay
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Leading global cinema operator Cineworld is reportedly planning to close its sites in the US, the UK and Ireland after studios pushed back the release of big budget films casting a shadow on post-pandemic revival of the industry. Read Full Article at RT.com
End of the big screen as we know it? World's second-biggest cinema chain reported to close all venues across US, UK & Ireland
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Leading global cinema operator Cineworld is reportedly planning to close its sites in the US, the UK and Ireland after studios pushed back the release of big budget films casting a shadow on post-pandemic revival of the industry. Read Full Article at RT.com
'Demoralizing' aviation layoffs may jeopardize another 10 million jobs outside industry – Allied Pilots Association spokesman
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US airlines have let go thousands of workers and could fire even more if the US government fails to provide additional aid to the troubled industry amid the collapse in demand for travel triggered by the coronavirus pandemic. Read Full Article at RT.com
