Author: Steven Sahiounie

taly’s new government is attempting to finalize efforts to get Lufthansa Group to take over ITA.The Italian coalition government is voicing a desire to divest the Italian government’s investment in Italy’s flag carrier ITA Airways, in phases. This is following the Italian government’s purchase of Alitalia in March 2020, an airline that was in administration, and subsequent bankruptcy in 2017, after Etihad Airways divested its 49% stake.Being that the government and especially its Minister of Finance Giancarlo Giorgetti believes in federalism and free enterprise and therefore disavows government interference in the free market economy – it is only logical that this government attempt to divest from owning an…

The International Dispute Review Board (DRB) has refused to file financial claims against Rosatom, the head of the Russian state-owned nuclear major, Alexey Likhachyov, has said. Finland had earlier this year terminated a contract with the Russian company to build the Hanhikivi-1 nuclear facility in the country.Likhachyov called Finland’s decision to withdraw from the project political, adding that Hanhikivi-1 emerged as the only international venture “on which, so to speak, our foreign activities ‘lost weight’.”In May, the Finnish Fennovoima consortium, in which Rosatom owns a 34% minority stake, terminated the contract with the Russian corporation to build a nuclear power…

The Russian president highlighted successful cooperation between members of the post-Soviet organizationTrade between Russia and the other members of the Commonwealth of Independent States (CIS) will amount to $100 billion by the end of 2022, according Russian President Vladimir Putin.The CIS, formed after the dissolution of the Soviet Union in 1991, has nine members: Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan and Uzbekistan. The countries together cover an area of 20 million square km in Eurasia, with an estimated population of 240 million.The Russian leader, speaking at a traditional informal meeting of CIS leaders in St. Petersburg on Monday,…

Gold prices edged up on Friday before a long holiday weekend as data showed U.S. inflation was cooling, though not significantly enough for the Federal Reserve to slow down rate hikes.Spot gold rose 0.2% to $1,796.53 per ounce by 2:22 p.m. ET (1922 GMT), while U.S. gold futures settled up 0.5% at $1,804.2.Gold was up about 0.2% for the week, its best in three.U.S. consumer spending, edged up 0.1% in November after climbing 0.4% in October, while inflation cooled further.With inflation close to being in line with expectations, gold prices were higher on fresh speculative buying ahead of the new…

PM Modi in Mann Ki BaatPrime Minister Narendra Modi on Sunday addressed the last Mann Ki Baat of the year 2022 and said that this year, the country had become the world’s fifth largest economy.”The year 2022 was wonderful, India completed 75 years of Independence while ‘Amrit Kaal’ began. India progressed rapidly and became the world’s fifth-largest economy, and achieved the unbelievable record of 220 crore vaccines and crossed the USD 400 billion mark in exports,” PM Modi said in the 96th edition of Mann Ki Baat, a monthly radio programme of the Prime Minister.He also talked about the Aatmanirbhar…

Saudi Arabia and Japan signed a memorandum of cooperation (MoC) on Sunday in the fields of the circular carbon economy, carbon recycling, clean hydrogen and fuel ammonia, the Saudi Energy Ministry said on Twitter.The MoC was signed by Saudi Energy Minister Prince Abdulaziz bin Salman and Japanese Industry Minister Yasutoshi Nishimura, who is visiting the kingdom, after a meeting in which they both stressed the importance of supporting the stability of global oil markets through encouraging dialogue and cooperation between producers and consumers, the Saudi state news agency (SPA) reported.The two ministers also highlighted the need to ensure safe supplies…

World services trade activity appears to have weakened in the fourth quarter of 2022 and is likely to remain soft in the opening months of 2023, with slowing growth in major economies weighing on the post-pandemic recovery, said the WTO.The latest WTO Services Trade Barometer index reading for the month of October fell to 98.3, slightly below its baseline value of 100 and well below the previous reading of 105.5 from the last release in June. The findings are line with the Goods Trade Barometer issued in late November which indicated slowing merchandise trade volume growth in the closing months…

.The dollar slid against most currencies in choppy, thin trading on Friday as data signaled that the U.S. economy is cooling a bit, reinforcing expectations of smaller interest rate increases from the Federal Reserve and improving investors’ risk appetite.The personal consumption expenditures (PCE) price index rose 0.1% last month after climbing 0.4% in October. In the 12 months through November, the PCE index increased 5.5% after advancing 6.1% in October. Excluding the volatile food and energy components, the PCE index gained 0.2% after increasing 0.3% in October.The so-called core PCE price index rose 4.7% on a year-on-year basis in November…

Hong Kong(CNN Business)Global markets fell on Monday after widespread protests in China against the country’s stringent Covid-19 restrictions roiled investor sentiment.European markets opened broadly lower, tracking the performance of Asian shares. The FTSE 100 (UKX) dropped 0.7%, the CAC 40 (CAC40) fell 0.6%, and the DAX (DAX) was down 0.5%.Earlier, Hong Kong’s benchmark Hang Seng Index (HSI) had finished the day 1.6% lower, after paring some losses. It had started the session down as much as 4.2%. The Hang Seng China Enterprises Index, which tracks the performance of mainland Chinese companies listed in Hong Kong, lost 1.7% at the market close.In mainland China, the benchmark Shanghai Composite (SHCOMP) briefly fell by 2.2%, before trimming losses to end 0.8%…

(NYSE:PII)Number of Hedge Fund Holders: 15Polaris Inc. (NYSE:PII) is a Minnesota-based company that designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates through three segments – Off-Road, On-Road, and Marine. The company offers off-road vehicles, including all-terrain vehicles, side-by-side vehicles, snowmobiles, and snow bikes. The demand for these vehicles typically surges in the winter. On December 5, Jefferies analyst Anna Glaessgen raised the price target on Polaris Inc. (NYSE:PII) to $106 from $100 and maintained a Hold rating on the shares, citing recent momentum. According to Insider Monkey’s data, 15 hedge funds were long Polaris Inc. (NYSE:PII) at the end…