Author: Steven Sahiounie

Steven Sahiounie, journalist and political commentator William Burns, CIA director, arrived in Libya on January 12 and met with Libyan Prime Minister Abdul Hamid Dbeibe in Tripoli, and others. The meeting marked the highest-ranked US official to visit Libya since President Joe Biden took office. Dbeibe’s government began in February 2021 and was tasked with holding elections under the auspices of the UN-appointed Libyan Political Dialogue Forum (LDPF). However, he failed to stabilize the country and organize national elections. On January 13, special envoys from the US, France, Germany, Italy, and the UK met in Washington, DC. at the invitation…

The dire prediction comes amid a broad slide in digital coinsThere is no value in cryptocurrencies and investors should sell their digital assets before they become worthless, prominent crypto-sceptic Peter Schiff has suggested.As economists sound the alarm over a so-called “crypto winter” amid the massive drop in the value of digital coins after the collapse of the FTX exchange, Schiff insists that this is not an accurate term to describe the situation.“This is not a #crypto winter. That implies spring is coming. This is also not a crypto ice age, as even that came to an end after a couple of…

The UK economy is mired in deepening gloom today as figures showed manufacturing slumping. The closely-watched PMI reading was the lowest in December for 31 months, since the depths of the Covid crisis. Companies reported falls in output, numbers of new orders received and stocks, while prices continued to rise, although at a slower rate than before. The rating of 43.5 – with anything below 50 indicating activity contracting – was down from 46.5 in November. The grim assessment in the S&P Global/CIPS survey came amid warnings Britain faces the deepest recession among the world’s largest economies in 2023. Analysts…

Commerzbank Senior Economist Tommy Wu thinks China’s economy will likely rebound earlier than previously expected, thanks to the sudden Covid reopening. Government looks keen to prioritize economic recovery in 2023 “First, the speed of outbreak is probably much faster than previously expected, with most people having or eventually will get infected in a matter of weeks after the U-turn in Covid policy made in early December. Currently, cities are battered by infections. But infections will spread, as many households will take advantage of the Chinese New Year holiday, which starts on 22 January, to travel back to their hometown or for…

Despite global headwinds, the Indian economy appears to be settled for greater growth in 2023 also. The economy is expected to come successfully out of the tough times prevailing across the globe. It may put up a strong performance in 2023 on the back of strong consumer demands, better corporate performances and moderation in inflation. However, this year will also be full of challenges and opportunities. The Associated Chambers of Commerce and Industry of India (Assocham) has said this in a just-released statement. Financial year 2023-24 will also be encouraging The industry body has said that despite global challenges including…

Singapore’s economy grew faster that official forecasts in 2022 but slower activity in the fourth quarter points to significant risks ahead for the city-state in the new year as global demand weakens and inflationary pressures weigh. Singapore’s economy grew 3.8% in 2022, preliminary data from the Ministry of Trade and Industry showed on Tuesday, beating government forecast for growth of 3.5% and down from 7.6% in 2021. Gross domestic product (GDP) expanded 2.2% in October-December on a year-on-year basis, the government data showed, almost half the 4.2% growth seen in the third quarter. Eight economists polled by Reuters had expected…

Kristalina Georgieva says a third of the world economy will be hit by recession in 2023. This year is expected to be even “tougher” than 2022 as the US, EU and Chinese economies slow down, according to the head of the International Monetary Fund (IMF). The Ukraine conflict, soaring prices, hiked interest rates and unrelenting Covid in China will continue to exert an impact on the global economy, Kristalina Georgieva told CBS’ Face the Nation program on Sunday. “We expect one-third of the world economy to be in recession. Even countries that are not in recession, it would feel like recession for…

New funding has been made available to expand domestic production, the government says. Britain has made £75 million ($90.5 million) available to support the domestic production of nuclear fuel for power plants, the government announced on Monday. The move is intended to help the UK develop alternatives to Russian fuel supplies, according to a press release published on the website of the British government. Businesses involved in uranium conversion, a key stage in the production of nuclear fuel, can apply for grants from the fund to develop new conversion capacity in the country. “This investment package will strengthen the UK’s…

Data from Swiss customs showed that in November alone gold worth hundreds of millions of dollars came into the country. Trade volumes between Russia and Switzerland have surged since Ukraine-related sanctions meant to isolate Moscow were imposed, newspaper Tages Anzeiger has reported last week, citing Swiss customs data. The outlet has found that Swiss exports, dominated by pharmaceutical products, have surged by 19%, while imports from Russia jumped by 54% since the beginning of the year. Such a sizable growth in Russian exports was reportedly due to an increase in shipments of gold, which is subject to specific sanctions in…

Resource-rich Angola has pledged total support for Russian businesses. Russian businesses should actively invest in Angola’s economy and its diplomatic mission in Moscow will support such initiatives in every possible way, the African country’s ambassador said on Tuesday. Speaking to RIA Novosti news agency, Augusto da Silva Cunha said that Luanda is calling on the entrepreneurs to be more active as, so far, Russia’s business presence in Angola has been modest. He also pointed out that, after the start of the conflict in Ukraine, some Western nations have turned to Africa for resources, as some countries on the continent, including…