Author: Steven Sahiounie

China stepped up imports of gold from Russia in 2022, data released by the country’s customs agency on Saturday showed. Last year, China bought a total of 6.6 tons of Russian gold, worth a record $386.9 million, including shipments in both unprocessed (3.7 tons) and semi-processed form (2.9 tons). In December alone, gold shipments from Russia to China totaled 220.2 kilograms, worth $14.85 million. Overall, Russian gold exports to the Asian nation soared by 67.3% in physical terms and by 63.3% in monetary terms from 2021. However, so far Russia’s share in Chinese gold purchases remains small. The main supplier…

The photo is originally published by Reuters

French workers have gone on strike and joined nationwide marches on a day of protest against President Emmanuel Macron’s very unpopular pensions reform plan. Train drivers, teachers and refinery workers were among those who walked off their jobs in Paris and several other major cities on Thursday. “It’s salaries and pensions that must be increased, not the retirement age,” read one large banner carried by workers that opened the protest march in Tours, western France. In Nice, southern France, a large banner read, “No to the reform.” French police fired tear gas during a protest in Paris when individuals in hoodies and…

The incident took place a few hours before the start of the Gulf Cup football tournament final. The Iraqi interior ministry has confirmed two deaths and about 80 injuries after a stampede at Basra International Stadium, according to local media. The incident occurred ahead of the final Gulf Cup football match between the teams of Iraq and Oman, which was due to kick off at 16:00 GMT. It is believed that the stampede broke out because the fans, who had arrived to Basra from across the Gulf, were mad that around 90 percent of tickets were sold out ahead of…

Participation of Turkey’s leader Recep Tayyip Erdogan in the upcoming presidential election does not violate the constitution, which prohibits a person from holding office for more than two consecutive terms, Turkish Justice Minister Bekir Bozdag said on Thursday. “It is Erdogan’s constitutional right to run for office, there are no legislative obstacles to this. The first president was elected in 2018 in accordance with the transition to the presidential system following the referendum [of 2017]. Therefore, Erdogan will run for the second time,” Bozdag stated. Under amendments to the Turkish constitution approved by the 2017 referendum, no person may be…

The collapse of the FTX exchange has sent shockwaves across the industry as clients demand their money. Crypto brokerage Genesis Global Capital is preparing to file for bankruptcy as early as this week, Bloomberg reported on Wednesday, citing sources familiar with the situation.Financial pressure at the cryptocurrency lending unit of Digital Currency Group (DCG) began to emerge last summer following the collapse of hedge fund Three Arrows Capital. In November, Genesis suspended withdrawals of funds shortly after crypto exchange FTX, in which Genesis invested some $175 million, filed for bankruptcy.The failures have had a ripple effect across the industry, exerting…

France’s second-largest trade union suggests cutting electricity to lawmakers and billionaires ahead of nationwide strikeFrench authorities say they will deploy thousands of police officers on Thursday in response to major nationwide protests organized by the General Confederation of Labor (CGT), the country’s second-largest trade union. The organization has also threatened to cut off electricity supply to MPs and billionaires.Union members in sectors such as transportation, education and energy announced last week that they would go on strike and hold rallies after the government proposed a bill that would see the retirement age raised from 62 to 64. Polls have shown…

The sides are reportedly developing cooperation strategy to replace the US dollar and the euro in settlements Russia and African nations are moving towards settlements in national currencies, Russian Foreign Minister Sergey Lavrov revealed on Wednesday, adding that the parties are preparing documents on rearranging the mechanism of cooperation under Western sanctions. Lavrov’s announcement was made during a press conference on the results of the activities of Russian diplomacy in 2022. The official earlier stated that Russian and African partners are working on reducing, though gradually, trade in the US dollar and the euro in mutual trade payments. “As you…

Exports of Russia’s seaborne crude oil soared to 3.8 million barrels last week, hitting their highest level since April, Bloomberg reported on Monday. In the week to January 13, aggregate volumes of Russian seaborne crude reportedly surged 30%. In physical terms, the growth amounted to 876,000 barrels per day. Baltic shipments expanded by 626,000 barrels per day compared to the previous week, while cargoes shipped from the Black Sea and the country’s Pacific ports were up as well. At the same time, growth of daily volume through ports on the Black Sea amounted to 47%. Overall seaborne exports grew by…

The EU wants Russia to stop charging foreign airlines to use the airspace over Siberia once restrictions on flights imposed as a result of the conflict in Ukraine are lifted, Henrik Hololei, the director general for mobility and transport at the European Commission, said on Monday. Russian airspace, which spans 11 time zones and provides the shortest route from Europe to Asia, was closed to Western airlines in response to sanctions introduced shortly after the start of Russia’s military operation in Ukraine last February. Hololei repeatedly pointed out the impact caused by the closure of Russian airspace to many Western…