Author: Steven Sahiounie

Expert Gary Korolev warned of a wave of bankruptcies in regional banks in the United States, and said that US regional banks are still under great pressure due to the outflow of deposits. The investor added, in an interview with “Novosti” agency, that the flow of depositors’ money outside the US regional banks may lead to a banking crisis or a collapse in lending. Korolev, who is the CEO of Sovereign Wealth Management, believes that the US authorities will not be able to completely stop the series of collapses. He said, “Inflation is still a big fear for the US…

The Egyptian Minister of Petroleum, Tarek El-Molla, discussed with the Spanish Ambassador to Cairo, Albaro Eranzo, the changes taking place in the energy industry and the role of Egypt and the eastern Mediterranean region in securing part of Europe’s needs. According to a statement from the Ministry of Petroleum today, Monday, the two sides discussed a review of investment opportunities available in Egypt in the fields of oil, gas and petrochemicals. During the meeting, El-Molla affirmed that Egypt is currently implementing an intensive drilling program with the aim of accelerating the achievement of new discoveries and increasing production, thus continuing…

Oil prices rose, in trading today, Tuesday, after a decline recorded on Monday by more than 1%, amid fears of an economic recession. And by 10:10 Moscow time, US crude futures rose by 0.30% to $75.89 a barrel, while Brent crude futures rose by 0.33% to $79.57 a barrel, according to Bloomberg agency data. And yesterday, black gold prices fell by more than 1%, amid fears of an economic recession, which will affect global demand for crude. This article was originally published by RT.

On Tuesday, Australia’s central bank raised interest rates by a quarter of a percentage point to 3.85% despite a halt in its climb last month and new evidence of slowing inflation. The increase brings the cash rate to 3.85%, the highest rate in Australia since April 2012, the Associated Press reported. The RBA meeting on April 4 was the first in a year to leave interest rates on hold to allow time for the bank’s board to monitor the effects of the latest increases. While most economists expected the liquidity rate to remain steady at 3.6% at the Bank’s meeting in…

The economist, Alexander Nazarov, believes that the banking crisis in the United States will continue, and as an indication of that, he pointed to the decline in the stocks of two American banks. The expert said in a post on his Telegram channel today, Tuesday: “The banking crisis continues in the United States, and the shares of some banks continue to decline and may go bankrupt in the near future. The total size of their assets is approximately equal to the size of the assets of the recently bankrupt First Republic.” He added that the United States will start printing…

Inflation rose in Europe last month, putting pressure on households and the European Central Bank to unleash another large increase in interest rates. The European Union’s statistics office, Eurostat, said consumer prices in the 20 countries using the euro jumped 7% in April compared to the previous year. Food prices witnessed a limited decline, falling from 15.5 percent in March to 13.6 percent annually, while energy prices rose by 2.5 percent. Core inflation, which excludes volatile food and fuel prices, slowed slightly but remained high at 5.6%, confirming expectations that the European Central Bank will press ahead with its campaign…

Turkish President Recep Tayyip Erdogan announced that the foreign exchange reserves in the Turkish Central Bank currently amount to 122 billion dollars. This came in a speech he delivered on Monday, during his participation in the seventh general assembly meeting of the Government Employees Union. In his speech, he touched on the general living conditions of citizens, indicating that his government will reconsider the salaries of retirees who earn more than 7,500 Turkish liras after the upcoming elections, with the aim of improving them further. The Turkish government recently raised the wages of all retirees who were receiving salaries below…

The nation’s wealthiest tycoons have reportedly seen their fortunes grow by $16 billion this year The collective net worth of Russia’s richest people has soared by $16 billion since the beginning of the year, despite the unprecedented sanctions pressure placed on the nation’s business elite, according to Bloomberg’s Billionaires Index. Vladimir Potanin, the owner of mining giant Norilsk Nickel, leads the Russian segment of the rating once again, with his fortune estimated at $29 billion, the index showed. Potanin was ranked as the world’s 44th richest person. Leonid Mikhelson, a co-owner of Russia’s second-largest natural gas producer Novatek, and Vladimir…

The country has intensified efforts to deepen exploration and production of petroleum Ankara will soon make a major announcement on the discovery of new oil reserves, Turkish Energy Minister Fatih Donmez said on Sunday, as quoted by Anadolu Agency. The minister said new resources have been identified near an existing oilfield in the Gabar Mountain area of Türkiye’s southeast Sirnak Province, but gave no details on the size of the discovery. “Operations on drilling and evaluation of the well are nearing completion,” Donmez said. “The first estimates of the data are positive, but we are waiting for the final results.” He added…

The cost-of-living crisis is forcing people to work beyond the age of 70, new data suggests An increasing number of older people in the UK are being forced to postpone retirement and continue working as a result of the cost-of-living crisis, new research has suggested. The number of individuals aged over 70 who are still working jumped by 61% last year compared to a decade ago, according to Rest Less, an online community that offers advice to older workers. The data released ahead of International Workers’ Day suggests that more than 446,600 people over 70 had yet to retire last…