Author: Steven Sahiounie

The famed economist warns mankind is headed into a crisis of global proportionsThe global community is facing a host of new threats, which may drive it back to the times of wars, pandemics and famine, renowned economist Nouriel Roubini told the Financial Times.According to the man dubbed ‘Doctor Doom’ by Wall Street, the period of optimism and growth that lasted for the past 75 years is an exception for humanity, not a rule.“I think that really the world is on a slow-motion train wreck. There are major new threats that did not exist before, and they’re building up and we’re…

The two countries are holding talks on cooperation, according to Kazem JalaliTehran is exploring the possibility of undertaking joint automobile production with Moscow, Iranian Ambassador to Russia Kazem Jalali has revealed.Speaking to reporters on Wednesday, he said that the sides were discussing the issue and expressed hope that the plans would be realized. Jalali noted that the two major Iranian automakers, Iran Khodro and SAIPA, both of which participated in an auto parts exhibition in Moscow this past summer, have also held talks with Russian partners.In late November, the head of the Iranian association of auto parts manufacturers, Mohammadreza Najafi-Manesh,…

The estimated drain is reportedly just the start of deepest energy crisis in decades. EU member states have spent roughly a trillion dollars (€940 billion) in the face of the bloc’s worst energy crisis in decades, Bloomberg is reporting on Sunday, citing calculations based on market data. Soaring energy prices have sent its economies plunging into recession as most member states opted to stop importing gas from Russia, facing the necessity to turn to more expensive supplies. The agency highlighted that the total estimated losses marks just the beginning of a full-scale crisis, as a period of high prices for…

Monetary tightening by major central banks is undermining the world economy, they warnGlobal recession risks rising – economistsAttempts by central banks to aggressively fight price pressures by raising interest rates could plunge the global economy into recession, Bloomberg reported on Friday, citing multiple economists. The experts pointed out that after they increased rates by half a percentage point, the heads of the US Federal Reserve, the European Central Bank (ECB) and the Bank of England (BoE) all signaled the need for further increases, even as they acknowledged that their economies were weakening. The mounting risk is that further tightening of…

The national grid operator has delayed the planned reopening of a number of nuclear power plantsFrance faces a greater risk of running short on electricity this winter after the nation’s grid operator, Electricite de France (EDF), extended maintenance halts for several nuclear reactors, Bloomberg has reported. The utility announced on Monday that the restart of its Penly-2 unit has been delayed from January 29 until June 11, while the reopening of the Golfech-1 unit has been pushed back to June 11 from February 18, according to the outlet. The halt of the Chattenom-3 reactor has reportedly been prolonged by one…

The mechanism was legalized to provide the market with goods that Western companies stopped delivering due to sanctions The volume of goods supplied to Russia via the parallel imports mechanism has exceeded $20 billion so far this year, according to the head of the Federal Customs Service, Vladimir Bulavin. Parallel imports, sometimes called ‘gray imports’, refer to the practice in which a non-counterfeit product is imported without the permission of the intellectual property owner via alternative supply channels. Bulavin told Russia 24 TV on Monday that 2.4 million tons of goods, mainly cars, machine tools, and equipment, as well as…

The limit will reportedly be set at €180 per megawatt-hour. After weeks of negotiations, European Union energy ministers on Monday agreed to set the price cap on wholesale gas at €180 per megawatt-hour (MWh), according to Reuters, citing representatives of the Czech Republic. The report says the cap will come into force on February 15. It will trigger if the Dutch TTF natural gas futures exceed the limit set for three days. A document cited by Reuters showed that the cap will initially not apply to over-the-counter trades. Three unnamed EU officials told the media outlet that Germany, which had…

(CNN) — This week in travel: the world’s top destinations for festive cheer, the high-rolling lifestyle in Monaco and Italy, a bag full of knives, and the places you won’t be able to visit in 2023. Happy holidays As any Who down in Whoville can tell you, the home of Christmas is inside our hearts. But if you want a guarantee that festive cheer is fully nailed, you can always take a trip to somewhere that does the season in style — such as Dresden in Germany, which is a stollen-scented wonderland from November to January. Other places with an extra sprinkle of holiday magic…

Roughly the same number of Japanese citizens traveled overseas in 2000 and 2017 — about 18 million — despite the timeframe being one of incredible growth for international travel worldwide.“The language barrier and the lack of consecutive holidays are some of the reasons why domestic travel is preferred,” said Furuya, adding that “work environments that make it difficult to take paid vacations” is another factorHe also cited the attractiveness of Japan’s nature, history, and culture as further incentive to stay close to home.This will place additional pressure on destinations that are popular with Japanese tourists, namely Taiwan, South Korean and Hawaii.But…

Air Canada is pleased to offer customers travelling during the holiday season time-saving travel tips and useful links to make their journey easier and more pleasant.With more than 2 million customers expected to travel on Air Canada over the holidays, we know that airports will be busy and our aircraft full. In anticipation, we’ve made extensive preparations to transport our customers safely and conveniently, including hiring people to bring staffing above pre-Covid levels, readying equipment for winter weather, and prudently scheduling flights. Customers can further ensure smooth travels by preparing in advance with a few simple measures. We want all…