Author: Steven Sahiounie

The memorandums tackle the development of oil and gas fields and the reconstruction and renovation of Venezuelan oil refineries. Iran and Venezuela signed a number of memorandums of understanding on the development of oil and gas fields, the reconstruction of refineries and petrochemical complexes, and oil trade, Iranian news agency Mehr reported on Sunday. According to the news agency, the documents were signed in the presence of Iran’s Oil Minister Javad Owji and Venezuela’s Vice President Delcy Rodríguez and Oil Minister Pedro Rafael Tellechea in Caracas. It added that the memorandums tackled the development of oil and gas fields and the reconstruction…

Saudi Arabia transferred tens of billions worth of shares from Aramaco to the control of the country’s sovereign fund, state media reported on Sunday. According to the Saudi Press Agency, a four percent share was transferred to Sanabil Investments, a company owned by Ryiadh’s Public Investment Fund (PIF) – a sovereign national wealth fund with an estimated asset wealth of around $620 billion, making it one of the largest in the world. Last year, the Kingdom also transferred four percent, estimated then to be worth nearly $80 billion, to the country’s fund, highlighting the ongoing plan by Crown Prince Mohammed bin…

Wall Street has been hit with a barrage of complex signals about the economy’s health over the past month. From banking turmoil to weakening jobs data to slowing inflation, and now the start of earnings season, investors have remained largely resilient. But the Federal Reserve’s March meeting minutes revealed last week that officials believe the economy will enter a recession later this year. While that’s not new news to investors who have worried that a recession is on the horizon for the past year, it does mean that markets could take a turn for the worse. So, how should investors protect their portfolios? Investors say there isn’t…

Investors may have a new way to generate income during economic declines. Innovator launched a one-of-a-kind suite of barrier ETFs this month that provides protection by purchasing U.S. Treasurys and selling equity options. “Advisors are realizing that bonds aren’t the safe haven that many thought they would be,” the firm’s CIO, Graham Day, told CNBC’s “ETF Edge” this week. “If you can pair [a barrier ETF] with the fixed income, it offers a tremendous amount of diversification benefits.” Innovator, an outcome-based ETF issuer, launched these products last week: Premium Income 10 Barrier ETF, Premium Income 20 Barrier ETF, Premium Income 30 Barrier ETF and Premium…

Atiq Ahmed and his brother Ashraf were shot at close range late on Saturday. A former Indian member of parliament and his brother were killed by gunmen who posed as journalists while they were being escorted in handcuffs by police to the hospital, as per authorities. Atiq Ahmed, 61, who had been imprisoned since 2019 after being found guilty of kidnapping, and his brother Ashraf were shot at close range late on Saturday, according to television footage. “According to preliminary information, three persons posing as journalists approached them and opened fire… The attackers have been held and are being questioned,”…

Banners sporting the new brand name ‘MAAG’ already adorn storefronts in major shopping malls Former Zara stores in Russia are to reopen under a new name, MAAG, by June 1, news outlet Izvestia reported on Friday, citing Dmitry Tomilin, board member of the Russian Council of Shopping Centers. Tomilin told the news outlet that the deadline had been agreed between the new owner of the stores and Russia’s shopping centers, where many of the stores are located. According to its website, MAAG plans to open some 60 stores across Russia in the nearest future, including at Moscow’s largest shopping centers. Stores will…

In the city of Udine, eyewitnesses capture footage of military equipment making its way out of the Italian railway system heading to Ukraine. Italy is sending more than 20 M109L self-propelled howitzers to Ukraine, according to an Italian media report. The report was supplemented by footage shot by eyewitnesses present at a railway station in Udine in northeast Italy. The video shows upwards of 20 armored vehicles mounted on special transport wagons attached to a train, according to the Repubblica and Corriere della Sera newspaper. The newspaper identified the cargo as 155 mm M109L self-propelled howitzers with no insignia or identification numbers. Luca…

26 civilians were martyred in an attack carried out by the terrorist organization of Daesh on the locals in the eastern countryside of Hama. A source in Hama Police Command said that Daesh terrorists attacked group of citizens in Duizen village in the eastern countryside of Hama while they were collecting truffles, killing 26 of them. On the 17th of last February, 53 citizens were martyred while they were collecting truffles by Daesh terrorists southeast of al-Sukhna city in Homs countryside. Source: SANA

The Minister of Foreign Affairs is scheduled to meet with the top leadership of these states and talks with foreign ministers Russian Foreign Minister Sergey Lavrov will visit several Latin American countries from April 17 through 21, the Russian foreign ministry said on Sunday. “From April 17 to 21, Russian Foreign Minister Sergey Lavrov will visit several Latin American countries, including Brazil, Venezuela, Nicaragua, and Cuba. The Russian foreign minister will have a rich program, which will include meetings with these countries’ leaders and talks with the foreign ministers,” it said. According to the ministry, the key goal of Lavrov’s tour is…

State-owned Fortum alleges Danish wind-power firm Vestas failed to return advance payments for project canceled due to sanctions Finland’s state-owned energy company Fortum Oyj has launched International Chamber of Commerce (ICC) arbitration proceedings against Danish wind-energy giant Vestas over the termination of contracts to deliver around 50 wind turbines to Russia. According to the Finnish utility, “sizeable advance payments” had been made to Vestas for wind turbines before Ukraine-related sanctions were introduced against Russia by the European Union last year. “Vestas did not deliver on its contractual obligations and yet refused to repay the advance payments and other project-related costs,” Fortum said in…