Author: Steven Sahiounie

BP’s CEO was not fully transparent about his romantic affairs with colleagues British energy giant BP has revealed that its CEO Bernard Looney has resigned with immediate effect after failing to fully disclose past personal relationships with co-workers, the company announced in a statement on Wednesday evening. Looney will be replaced on an interim basis by Chief Financial Officer Murray Auchincloss, according to the company. The British oil and gas major conducted an internal review last year after receiving allegations about personal relationships between Looney and other employees. At the time, the BP CEO disclosed a “small number” of affairs that occurred…

At least $50 billion has been pulled from Western countries since last year, the outlet has calculated Russian businessmen squeezed by sweeping Western sanctions have withdrawn tens of billions of dollars in assets from the EU since the start of the Ukraine conflict, Bloomberg reported on Thursday.    Wealthy Russians have started repatriating their assets from jurisdictions such as Cyprus, Jersey, and Switzerland to Russia and so-called “friendly” countries since last February, as Western states stopped being a safe haven for Russian businesses. In August, shareholders of United Medical Group CY and MD Medical Group Investments, controlled by tycoons Igor Shilov…

A large fuel storage terminal will be built in the Far East, says Xuanyuan Group CEO   China’s Xuanyuan Group Industrial Development plans to build a massive logistics hub in the Amur Region in Russia’s Far East, as freight turnover between the two countries has more than doubled over the past year, the group’s CEO, Hailong Xue, has told RT. The project is one of several deals the Chinese industrial group has clinched with Russian investors on the sidelines of the Eastern Economic Forum in Vladivostok, and will offer equal opportunities for Russian and Chinese companies to participate in…

RIYADH: Machine learning algorithms could enhance credit card fraud detection by over 94 percent, according to a new study by the Arab Monetary Fund. According to the report, artificial intelligence plays a crucial role in strengthening credit card fraud detection, and machine learning predicts fraudulent transactions to a large extent. Global credit card losses due to credit card fraud incurred by financial institutions and individuals hit $32.3 billion in 2021, representing a substantial rise of 13.8 percent compared to the previous year. AMF, in its report, also urged intensified innovation and collaboration with top financial technology firms to develop ML-based fraud…

According to the report, the European Central Bank staff have lowered their economic growth projections significantly, expecting the euro area economy to expand by 0.7% in 2023 MOSCOW, September 14. /TASS/. The European Central Bank (ECB) decided to raise three key interest rates by 25 basis points (bp), according to a statement issued following a meeting of the regulator’s Governing Council. “The Governing Council decided to raise the three key ECB interest rates by 25 basis points. Accordingly, the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will…

On behalf of King Salman, Saudi Foreign Minister Prince Faisal bin Farhan left for Havana on Thursday to head a delegation at the Group of 77 + China summit, which will be held in Cuba on September 15 to 16. The summit will discuss developments on the international scene and the challenges that the world is facing, Saudi Press Agency reported. Representatives of the 77 countries and China participating in the summit will discuss sustainable solutions to the challenges, it added. According to the report, Prince Faisal will also hold a number of bilateral meetings with representatives of the participating countries. The G77 is a group…

The dollar-to-ruble rate increased by 1.11%, while the euro rate went up by 0.47% MOSCOW, September 14. /TASS/. Since the beginning of trading on September 14, the Russian stock indices showed dynamics but by the evening they were able to make up for some of the losses. At the end of the day, the MOEX index fell by 0.28% to 3,139.49 points, the dollar-denominated RTS index dropped by 1.2% to 1,018.31 points. The dollar-to-ruble rate increased by 1.11%, closing at 97.34 rubles, the euro rate went up by 0.47% to 103.82 rubles, the yuan rate rose by 0.11% to 13.35…

Rustem Umerov noted that he also informed the head of NATO about the current situation in the conflict zone Ukrainian Defense Minister Rustem Umerov, appointed to the post on September 6, said he had held his first conversation with NATO Secretary General Jens Stoltenberg. “Held productive negotiations with Jens Stoltenberg, NATO Secretary General. Discussed the implementation of agreements reached at the Vilnius Summit and our joint work with NATO on the Interoperability Roadmap,” the minister wrote on Twitter. He said he also informed the NATO chief about the current situation in the conflict zone. Previously, Umerov talked to US Secretary…

It is not specified where the conversation will take place Ukrainian President Vladimir Zelensky plans to meet with US President Joe Biden during his visit to the UN General Assembly high-level week next week, NBC reported citing an unnamed Ukrainian official. The Ukrainian official did not specify if the meeting will take place on the sidelines of the General Assembly session in New York, or if Biden will receive Zelensky in Washington. Both Biden and Zelensky will deliver their speeches at the General Assembly on September 19. On September 20, a high-level UN Security Council meeting on Ukraine will take place, but,…

-China’s Ministry of National Defense on Thursday urged the United States to stop all forms of military ties with Taiwan, Xinhua news Agency said. Spokesperson Tan Kefei made the remarks when commenting on information about Taiwan’s recent military interaction with the United States, including a reported plan to buy mine-laying systems from the United States. “We firmly oppose the United States conducting any form of official contact with China’s Taiwan region and selling weapons to the island,” Tan said. The collusion between Taiwan and the United States will harm and even destroy Taiwan, Tan said, stressing that obstinately relying on…