Author: Steven Sahiounie

U.S. stocks rose Thursday, boosted by strong results from Meta Platforms. The Nasdaq Composite jumped around 1.4%. The S&P 500 climbed 1%, and the Dow Jones Industrial Average advanced 231 points, or 0.7%. Meta shares leapt more than 13% as the company reported quarterly revenue that beat analysts’ expectations. The company also issued stronger-than expected guidance for the current period. Teladoc, Comcast and Merck were also among companies trading higher after reporting earnings. But Caterpillar, which is often seen as a barometer of the global economy, traded down more than 3% despite the Dow member posting much better-than-anticipated results. Amazon and Intel will share their quarterly results after the closing bell Thursday amid what has been seen as a…

Oil prices rose slightly on Thursday, finding some support after heavy losses in the previous two sessions that were driven by fears of a U.S. recession and an increase in Russian oil exports which dulled the impact of OPEC production cuts. Brent crude was trading at $77.98 a barrel, up 29 cents, or 0.4%. U.S. West Texas Intermediate crude added 20 cents or 0.3% to trade at $74.50. Oil prices dropped almost 4% on Wednesday, extending sharp losses in the previous session with recession fears overshadowing a bigger-than-expected fall in U.S. crude inventories. As of Wednesday’s close, Brent is down 4.9% for the…

Oil producer group OPEC on Thursday lashed out at the International Energy Agency, saying the world’s leading energy authority should be “very careful” about undermining industry investments. OPEC Secretary General Haitham al-Ghais said finger-pointing and misrepresenting the actions of OPEC and OPEC+ was “counterproductive.” He added that the influential group of 23 oil-exporting exporting nations was not targeting oil prices, but instead focusing on market fundamentals. OPEC said that its comments came in response to fresh criticism from the IEA, without providing further details. In a Bloomberg TV interview on Wednesday, IEA Executive Director Fatih Birol used similar language in warning OPEC about boosting…

Foreign and Expatriates Minister, Faysal Mikdad, discussed ,in a phone call, with his Omani counterpart, Badr Albusaidi, the bilateral relations between Syria and Oman in various fields. Minister Mikdad expressed Syria’s satisfaction with the level of existing relations between the two brotherly countries, especially after President Bashar al-Assad’s recent visit to the Sultanate of Oman. The two ministers discussed the latest developments in the region and agreed to communicate continuously to discuss issues of common concern. Source: SANA

The Chinese foreign minister noted that Beijing is ready to work with the international community, including Central Asian states, in order to reach a “common denominator” for resolution of the conflict in Ukraine No matter how complicated the conflict in Ukraine may be, it must be resolved at a negotiation table, Chinese Foreign Minister Qin Gang said during the meeting with foreign ministers of Central Asian countries in Xi An in northwestern China. “No matter how complicated the crisis may be, it must be resolved by negotiations; no matter how complicated a conflict may be, it must be resolved only…

In light of the decline of the dollar and the rise in inflation in the United States, a former official in the White House indicated that the “BRICS” currency may shake the throne of the dollar. “The BRICS currency shakes the dominance of the dollar, and paves the way for finally de-dollarization,” said Joseph W. Sullivan, senior advisor at the “Lindsey Group” and an economist at the White House Council of Economic Advisers, during the administration of former President Donald Trump. Foreign Policy quoted  the official as saying that last month, Deputy Speaker of the Russian State Duma Alexander Babakov said, “Russia…

Data issued by the Indian Ministry of Commerce revealed that Russian exports to India in the incomplete fiscal year 2022-2023 hit a record high and amounted to $41.6 billion. According to official figures, Russia remains India’s fifth largest trading partner. Results for the 11 months of the fiscal year, which began in April 2022 and ended in March 2023, show that India imported products from Russia worth more than $41.6 billion, which is 4.2 times more than the previous record set at the end of the entire last fiscal year. At the same time, the value of Indian products exported to…

The “Akuyu” plant, the first nuclear power plant in Turkey, is witnessing today the nuclear fuel loading ceremony at the station, and Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan will participate in the event via video technology. The project will allow Turkey to join the countries that have civilian nuclear energy. The cost of the project is $20 billion and its capacity is 4,800 megawatts. It includes the construction of 4 reactors in the village of Akkuyu overlooking the Mediterranean. The Akkuyu nuclear plant in Turkey occupies an important space in the energy sector relations between Ankara…

Oil prices rose, in trading today, Thursday, after suffering losses this week, in light of concerns about the prospects for demand for black gold and global economic growth. By 10:08 Moscow time, US West Texas Intermediate crude futures rose 0.38% to $74.58 a barrel. While Brent crude futures rose by 0.54% to $78.11 a barrel, according to Bloomberg agency data. Prices received support after data from the US Energy Information Administration indicated that crude oil stocks fell in the United States by about 5.1 million, contrary to expectations. Source: RT

The economist Alexander Nazarov warned of a decline in the US currency in the future, with the US Congress heading to approve raising the public debt ceiling. The economist believes that raising the public debt ceiling will prompt the US Federal Reserve to resume printing unsecured money, with the largest US creditors reducing their investments in US Treasury bonds and bills, which will fuel inflation. “The current US budget deficit is about 8% of GDP. According to the Federal Reserve Bank of New York, the probability of a recession this year is 60%,” the expert explained in a post on…