Author: Steven Sahiounie

The next SCO summit will be held on July 4 under the chairmanship of Indian Prime Minister Narendra Modi in a virtual format Iran’s accession to the Shanghai Cooperation Organization will be completed in July, the country’s Foreign Minister Hossein Amirabdollahian said on Thursday. “We will become a full-fledged member of the Shanghai Cooperation Organization in July, when the next summit of the association is to take place,” he said as quoted by the Tasnim news agency saying. On September 15-16, 2022, Samarkand hosted the SCO summit, which was attended by Iranian President Ebrahim Raisi. The Islamic Republic signed a memorandum of…

When asked about the regional authorities’ response to these strikes, Dmitry Peskov noted that they “work very actively and selflessly” Ukrainian attacks on the Belgorod Region are unable to affect the course of the special military operation, Russian Presidential Spokesman Dmitry Peskov said in response to a question about whether strikes and attacks on that region by the Ukrainian army would affect the special military operation and its geographical aspect. “Certainly, this is unable to have any effect on the course of the military operation. But I am not authorized to say anything about the nuances,” he added. When asked…

After more than a month of consolidatory ranging, Ethereum (ETH) price remains steadfast in a tightly fought range. Currently trading at $1,858 (a 24 hour change of -0.79%), Ether appears to have once again been rejected by a tough ceiling of resistance at $1,925. Now in a minor -3.60% retracement move, markets are on edge as ETH heads for a retest of support at the tricky MA20. Ethereum (ETH) Price Prediction: Rain or Shine? With technical structure fighting to resume, and on-chain signalling suggesting a shift in market sentiment from distribution to accumulation, the ostensible downside slide of Ethereum might not…

Bitcoin’s recent price movement has dived to the $27,000 level, sparking concerns among traders and investors. As the market sentiment shifts, all eyes are now on a crucial support level at $26,600. The cryptocurrency’s ability to hold this support level will determine its next move and could potentially set the tone for the near-term price action. In this Bitcoin price prediction, we delve into the factors influencing the market and analyze the significance of the $26,600 support level. Bitcoin Price Prediction Bitcoin is currently priced at $26,858 as of June 1st, showing a decrease of nearly 1%% in the past 24…

Central Bank of Iran (CBI) Governor Mohammad Reza Farzin explains that Iran could soon have access to $6.7 billion of its funds at the IMF. On the margins of his discussions with senior IMF officials in Washington, DC, Central Bank of Iran (CBI) Governor Mohammad Reza Farzin revealed that Iran would soon have immediate access to $6.7 billion of its financial resources held by the International Monetary Fund (IMF). According to the CBI Governor, Iran has acquired, at this time, Special Drawing Rights (SDRs) worth 4.8 billion, or $6.7 billion, and these funds may be used right away to help…

A former US Secretary of the Treasury criticizes the United Kingdom and lambasts its economic policies, saying the country is on the verge of a recession. Brexit will be memorialized as a “historic economic error” that has damaged the UK’s economy after having helped inflation surge, former US Treasury Secretary Larry Summers said. The UK leaving the European Union led to higher consumer costs, and the country’s economic policy has been for several years “substantially flawed”, Summers said. The former US economic chief underlined that Brexit “reduced the competitiveness of the UK economy, put downwards pressure on the pound and…

Inflation in Europe has fallen to its slowest pace , bolstering the case for the region’s central bank to bring interest rate hikes to an end soon. Consumer prices in the 20 countries that use the euro rose 6.1% last month compared with a year ago, easing from 7% in April, according to an initial estimate Thursday from the European Union’s statistics agency. That’s the lowest rate of inflation since February 2022, when Moscow launched a full-scale invasion of its neighbor, sending global energy prices soaring. The pace of food price rises eased for the second month running in May,…

Policymakers at the Federal Reserve signaled last month that they were considering a pause in their 14-month long regimen of hiking interest rates to cool the economy and bring down inflation. But the US economy is like an engine that won’t quit — it just keeps on pumping out jobs. New data out Wednesday showed that job openings and hiring both rose in April, while unemployment sits near 53-year lows. With just two weeks left until the central bank’s next policy decision, it appears that more rate hikes could be coming after all. Investors — already contending with fallout from…

The director general of COP28 on Thursday defended the appointment of oil executive Sultan al-Jaber, describing the Abu Dhabi National Oil Company CEO as the “perfect person” to lead the climate talks. The UAE, the third-largest oil-producing member of the OPEC alliance, will host the COP28 climate summit from Nov. 30 through to Dec. 12. Al-Jaber, who in January was selected to lead the summit, serves as the UAE’s climate envoy, the government’s minister of industry and technology, and the head of ADNOC — one of the world’s largest oil and gas companies. His appointment as president-designate of COP28 —…

Annual inflation in the eurozone slowed, according to preliminary estimates, to 6.1% in May 2023 from 7% in the previous month (March 2023), according to Eurostat data. The result was contrary to expectations of analysts, who were polled by DailyFX portal, as they expected the index to slow to 6.3% only. Official data showed an increase in the consumer price index in the region by 6.1% in May 2023 on an annual basis, compared to an increase of 7% in April 2023. Core inflation, which excludes food and energy prices, declined from 5.6% in April to 5.3% in May, while…