Author: Steven Sahiounie

The beverage is finding its way into the sanctioned country through parallel imports, RBK reports Coca-Cola remains one of the top sellers among cola-flavored beverages in Russia, a year after the American company decided to quit the country’s market, business daily RBK reported this week. The iconic drink was the second-most-popular cola beverage among Russian consumers in January and February, accounting for more than 14% of sales per unit, according to RBK’s calculations based on information from fiscal data operator Prodazhi.rf. The top seller among cola drinks is the Dobry Cola brand, produced in Russia at factories that belonged to…

The era of cheap energy from Russia is over, the head of Germany’s utilities regulator has said Germany has managed to avoid an energy crisis this year, but there is a risk that the next heating season will be more difficult, Klaus Mueller, the head of Germany’s Federal Network Agency said in an interview with the Rheinische Post, published on Saturday. According to Mueller, the country’s gas storage facilities are currently 64% full, and even if it the weather turns cold in the next few weeks, German energy supply for the remainder of the heating season is secured. He warned,…

Finding the right balance between regulations and banking institutions is important for Schiff, considering that Puerto Rico regulators closed down Schiff’s bank due to non-compliance. The recent fall of major banks in the United States and the need for federal intervention reignited discussions to identify the most effective ways to safeguard the crumbling economies. Comparing the episode to the financial crisis of 2008, prominent economist Peter Schiff found that increasing banking regulations contribute to the worsening economic crisis. A deeper analysis of Silicon Valley Bank (SVB) by a group of economists revealed that nearly 190 banks in the United States are…

The visit comes as part of efforts to enforce Iran’s ‘neighborliness diplomacy’ strategy, as per Iranian news agency Nour News. After high-stakes trips to Beijing and Abu Dhabi aimed at rebooting diplomatic and security ties with regional neighbors, Iran Supreme National Security Council Secretary Ali Shamkhani arrived in Iraq. The visit comes as part of efforts to enforce ‘neighborliness diplomacy’ strategy, as per Iranian news agency Nour News. Shamkhani will reportedly meet the Iraqi President, Prime Minister, and Parliament Speaker during his visit, in order to sign a memorandum of understanding on border security, Mehr news agency reported. Iraq is Iran’s second economic…

Insider sources reportedly described the bonus pool as “modest,” adding that the stock held by senior execs had been “rendered worthless” following Silicon Valley Bank UK arm’s “near-collapse.” Silicon Valley Bank UK (SVB UK) has granted millions of pounds in employee bonuses, just days after it was rescued by global banking giant HSBC for just 1 British pound, according to unnamed sources. In a March 18 Sky News report citing unnamed sources, it was reported that payouts to SVB UK staff and senior executives were signed off “earlier this week” by HSBC UK Bank — the institution which acquired SVB UK for 1 British…

The Kosovar Prime Minister, Serbian president, and EU officials meet in Ohrid, North Macedonia to discuss an EU-backed normalization agreement between the two countries, and despite settling disagreements, no agreement was signed. Serbian President Aleksandar Vucic and Kosovar Prime Minister Albin Kurti, after 12 hours of talks between the two leaders and EU officials in Ohrid, North Macedonia, have settled on how to implement the EU-backed agreement to normalize relations between the two countries, EU foreign policy chief Josep Borell announced on Saturday, without mentioning that no agreement was officially signed. Josep Borrell told reporters that “Kosovo and Serbia have agreed on the…

The emergency preparation will allow the takeover to proceed without the usual “six-week consultation period” with shareholders, according to people familiar with the situation. The Swiss National Bank (SNB) and Switzerland’s financial regulator reportedly believe that the acquisition of investment bank Credit Suisse by UBS — Switzerland’s largest bank — is the “only option” to prevent a “collapse in confidence” in Credit Suisse. According to a March 18 Financial Times report citing three people familiar with the situation, Switzerland is preparing to use “emergency measures” to accelerate the takeover by UBS of Credit Suisse to finalize the acquisition before “markets…

US Congresswoman Betty McCollum has expressed optimism that more and more Americans are rejecting their government’s complicity in Israel’s mistreatment of Palestinian children and families. McCollum said in a tweet, “More than ever before, Americans do not want the U.S. to be complicit in Israel’s mistreatment of Palestinian children & families. Not $1 of U.S. aid should be used to imprison Palestinian children in military detention facilities, or used to tear down their homes.” The US Rep. was commenting on a recent poll by Gallup News which has found that 49% of US Democrats sympathize more with Palestinians compared with…

The Arab Republic of Egypt is hosting a five-party meeting today to promote dialogue between the Palestinian and Israeli sides and to stop all unilateral measures and the escalation to pave the way for an atmosphere that contributes to the resumption of the peace process. Ambassador Ahmed Abu Zeid, a spokesman for the Egyptian Foreign Ministry, said that the five-way meeting will be held in Sharm El-Sheikh, with the participation of high-profile political and security officials from Egypt, Palestine, Israel, Jordan and the United States, within the framework of regional and international efforts aimed at achieving calm in the Palestinian…

The banking coalition reportedly argued in a letter to federal regulators that it would bring stability to the banking industry and reduce the chances of “more bank failures.” The Mid-Size Bank Coalition of America (MBCA) has reportedly asked United States federal regulators to extend insurance on all deposits for the next two years. According to a March 18 Bloomberg report, the MBCA — a coalition of mid-size U.S. banks — sent a letter to the U.S. Federal Deposit Insurance Corporation (FDIC), asserting that extending insurance on “all deposits” would “immediately halt the exodus” of deposits from smaller banks. The MBCA also reportedly…