Author: Steven Sahiounie

The potential buyout will reportedly be funded by MoscowRussian air carriers have held preliminary negotiations with at least one major leasing firm on using state funds to buy some of the 400 aircraft stranded in Russia due to sanctions, Reuters reported on Friday, citing documents and sources.In September SMBC Aviation Capital, one of the world’s largest aircraft lessors, said it was in talks with Russia’s biggest carrier Aeroflot, and AlfaStrakhovanie, the airline’s insurer. According a letter issued by SMBC, the lessor was offered $644.2 million for 17 jets leased by Aeroflot, minus $82 million already paid in deposits and reserves.According…

A growing number of Europeans have been making their homes more energy-efficient as heating costs rise, according to the news outletThe energy crisis and soaring heating costs have pushed Europeans toward energy-efficient home improvements and so-called “passive houses,” buildings with ultra-low energy consumption, Bloomberg reported on Friday.According to a survey by a Sweden-based research company Novus, two thirds of Swedish households have made energy-saving home improvements in the last six months, from installing efficient lighting to changing windows and doors to more modern versions.Another survey cited that the report showed that 70% of Germans have bought energy-saving products this year.…

Pollution levels in the country have at times reached those of India and South Africa, the outlet reportsEnergy shortages and surging power prices have pushed Germany to boost coal use despite the country’s commitment to fighting climate change, Bloomberg reported on Thursday.To keep the lights on, Europe’s largest economy is now burning coal at the fastest pace in at least six years, despite the government’s ambitions to phase out the fossil fuel. According to Bloomberg, Germany will be one of the few countries to increase coal imports next year.Facing the dilemma of whether to cut carbon emissions or guarantee energy…

Gazprom has been banned from buying gas from its projects with Western partners at above a price to be set by KremlinRussian President Vladimir Putin signed a decree on Thursday that partially relieves state energy major Gazprom from fulfilling its obligations to its foreign partners who hail from countries that have imposed sanctions on Moscow.According to the decree, published on the official government portal, Gazprom and its subsidiaries are prohibited from paying for gas, or for its production and transport, from joint projects with its EU partners in Russia if the amount of payment is higher than the cost established…

Energy bills, rent, and mortgage payments are the most commonly-reported financial burdensConsumers in the UK have slashed spending on Christmas gifts this year as household incomes across the country have suffered amid the biggest jump in prices in 40 years, Bloomberg reported on Friday, citing a survey published by the Office for National Statistics (ONS).Six in ten adults surveyed admitted they were planning to cut the amount they spend during this festive season by buying fewer and less expensive presents. Meanwhile, British charities have reported booming sales as cash-strapped shoppers are looking for second-hand Christmas gifts.With disposable income hit by…

Brussels has granted Russia’s securities depository a general license to release funds that belong to non-sanctioned investorsThe Belgian Finance Ministry on Thursday authorized the release of “certain frozen funds and economic resources” that belong to Russian investors, by granting a general license to Russia’s National Settlement Depository (NSD). The assets in question had been blocked due to EU sanctions against the NSD earlier this year.According to a statement on the ministry’s website, Belgium’s settlement and clearing system Euroclear is to release the funds to the NSD, but only if they belong to Russian individuals not subject to EU sanctions.Euroclear has…

Facebook has been accused of illegally sharing user data with the research firmFacebook’s parent company Meta has agreed to pay $725 million to settle a class-action lawsuit in which the social media giant was accused of giving third parties access to user data without their consent. The scandal involved the British political consulting firm Cambridge Analytica.According to a court filing on Thursday, the settlement would resolve long-running legal action prompted by revelations in 2018 that Facebook had allowed the consulting firm to access the data of as many as 87 million users.Lawyers for the plaintiffs called the proposed settlement the…

reduction may come in response to the G7 price cap on the country’s crude exports, Deputy Prime Minister Aleksandr Novak saysRussia will not sell oil to countries that impose a price cap on its crude exports, Deputy Prime Minister Aleksandr Novak warned on Friday.According to Novak, Moscow may respond by reducing oil production by 500,000-700,000 barrels a day in early 2023. Russia is the world’s third biggest oil producer and the cuts would equate to roughly 5-6% of the country’s daily output.The G7 and EU’s $60-per-barrel ceiling on Russian seaborne crude came into force on December 5. The measure, along…

Ukraine vows to tighten fiscal policy to get IMF loan. Kiev will have to boost tax revenue and tackle corruption to receive $20 billion in loansUkraine has pledged to revise its fiscal policies in a bid to access $20 billion in loans from the International Monetary Fund (IMF), according to a memorandum signed by both sides, Bloomberg reported on Friday.Kiev has been pushing for a deal with the IMF since autumn. Earlier this month, the US-based institution approved a four-month Program Monitoring with Board involvement (PMB) for Ukraine. Though the deal does not provide cash to Ukraine, it will “catalyze”…

Analysts explain the decrease citing mild weather and ample suppliesEuropean gas futures dipped below $900 per thousand cubic meters on Friday for the first time since June 13, data from the London Intercontinental Exchange (ICE) shows.The cost of gas futures for January delivery at the TTF hub in the Netherlands was down 11%, trading at $897 per thousand cubic meters, or €81.7 ($85.8) per megawatt-hour in household terms, as of 13:50 GMT.The decline is attributed to several factors. On the one hand, this week has seen unusually warm temperatures in most European countries, which has led to a decrease in…