Author: Steven Sahiounie

Experts and analysts warn that the failure of the United States to pay its debt threatens to undermine the position of the American global currency and the occurrence of a global financial crisis, which will deal a blow to companies and families in the world. Some experts believe that default is likely to affect the dollar’s global standing, as governments and companies will be forced to pay their bills in another currency. Experts mentioned that most of the countries’ foreign trade exchanges take place in the US currency, and pointed out that following the policy of brinkmanship with the debt…

Egypt is preparing to open a huge national project that carries great wealth for the country, as the government plans to open a complex for the production of quartz slabs. Egypt has the finest and purest types of quartz in the world in the city of Marsa Alam, and it has a crushing and grinding plant, and another plant for producing quartz. Egypt is also considered the second in the Middle East for producing quartz. Quartz is a very important raw material and is characterized by many qualities, as it is antibacterial, antivirus, infrared, violet, high temperatures and all kinds…

Inflation in Russia has continued to slow through May, Prime Minister Mikhail Mishustin told a Shanghai business forum on Tuesday, noting that the indicator is currently the lowest in Europe. “As of early May, inflation slowed to 2.3% year-over-year. This is the lowest figure among all European countries,” Mishustin stated. The indicator continued to fall after a sharp drop to 3.51% in March from 10.99% in February. It is currently well below the government target of 5% for the year. In comparison, Switzerland recorded 2.6% inflation in April, the second-lowest after Russia. The region’s largest economy, Germany, saw prices grow at a rate…

Russian energy giant Gazprom is continuing to supply gas for transit to Western and Central Europe through Ukrainian territory, via the Sudzha gas pumping station, the company confirmed on Tuesday. Supplies rose to 41.2 million cubic meters (mcm) on May 23, compared to 40.9 mcm pumped the previous day through the entry point, which remains the only operating interconnector in Ukraine. “Gazprom supplies Russian gas for transit through the territory of Ukraine in the amount confirmed by the Ukrainian side through the Sudzha… Application for ‘Sokhranovka’ was rejected,” Gazprom spokesperson Sergey Kupriyanov told reporters. Ukraine shut down transit through the Sokhranovka station,…

Newly-built housing costs in Sochi have soared nearly 190% since 2020, industry data shows New home prices in Russia’s largest resort city, Sochi, have risen threefold in the three years to April 2023, driven by strong investor demand, Kommersant business daily has reported. Citing data by Nedvex Group, the outlet reports the average price for new real estate exceeded 445,000 rubles ($5,550) per square meter last month, compared to 154,600 rubles ($1,931) in April 2020, representing a 188% jump. Sochi, which hosted the 2014 Winter Olympics, recently beat out New York and London in a list of the world’s three cities…

The proposed legislation would restrict Polish freight transit through Russia and ban refueling at local prices Russia’s lower house of parliament appealed to the government on Tuesday to ban semi-trucks registered in Poland from transiting through Russian territory. The proposal was announced by State Duma Chairman Vyacheslav Volodin in a Telegram post. “The deputies of the State Duma have unanimously proposed denying passage to Polish trucks through our country, as well as to prohibit them from refueling at Russian prices, setting the cost of fuel at EU levels,” the senior lawmaker wrote. The measure is touted as a response to…

Energy and raw materials prices along with a shortage of skilled workers pose major threats to the economy, a study has found The German business community has little optimism about growth prospects in the EU’s largest economy, Bloomberg reported on Monday, citing a study conducted by the Association of German Chambers of Industry and Commerce (DIHK). After two quarters of zero growth, respondents from 21,000 companies that took part in the survey said there were little signs of improvement in the economic environment. Despite the resilience that German companies have shown during the months of soaring energy prices…

The neo-colonial system based on exploitation will inevitably become a thing of the past, the Russian leader says Russia and its international partners will build a fair multipolar world together, Russian President Vladimir Putin has said. Moscow is ready to cooperate with all interested nations to tackle joint threats and challenges, Putin stated in his address to participants of the 11th International Meeting of High Representatives for Security Issues, which began in Moscow Region on Wednesday. “I am confident that together we’ll achieve the formation of a more just, multipolar world, and that the ideology of exclusivity, as well as…

The 68-year-old president reassured Belarusian officials they will have to “suffer with me for a very long time” Belarusian President Alexander Lukashenko has dismissed rumors that he is severely ill, telling officials that he contracted a common cold and is “not going to die.” Speculation about the leader’s health has swirled for weeks, after he appeared to be unwell at the Victory Day parade in Moscow. Lukashenko addressed the claims during a lengthy government meeting about healthcare on Tuesday, saying “If someone thinks I’m going to die, calm down.” “This is nothing more than idle speculation in messengers and Telegram channels. Adenovirus or whatever it was?…

Israeli forces Wednesday damaged contents of a commercial shop in the refugee camp of al-Jalazone, north of the occupied West Bank of Ramallah, and stole money as well. According to local source, Israeli forces raided a shop selling vegetables and damaged its contents before proceeding to steal money. Source: WAFA