France Taps Its Strategic Fuel Reserves
The French Energy Ministry has revealed that the nation has been drawing upon its strategic national reserves of fuel, “in a targeted manner,” since the beginning of March. In a…
Credit Suisse Deal Casts Shadow Over Swiss Banking Sector
In an interview with CNBC on Tuesday, Opimas CEO Octavio Marenzi said that Switzerland’s once stellar reputation as a global financial hub is being undermined by the fiasco surrounding the…
Russia To Ditch Dollar And Euro For Yuan In International Settlements
On Tuesday, while meeting with Chinese president Xi Jinping, who is in Moscow for a three day official visit, Russian President Vladimir Putin said that Russia is prepared now to…
Indonesia Introduces Its Own Credit Card System
The Bank of Indonesia is setting the stage to phase out Visa and Mastercard, in favor of a new domestic payment system it is introducing, according to a Monday report…
Finland Continues To Import Gas From Russia
On Monday, the Yle news outlet reported that the Finnish state-run energy provider Gasum, is going to continue to buy gas from Russia, according to a statement from the company.…
Russia Is Biggest Supplier Of Natural Gas To China
New data out from the Chinese customs agency shows Russia has beaten Turkmenistan, Qatar, and Australia, to become China’s largest supplier of natural gas. Russia supplied 2.7 billion cubic meters…
Oil Prices Crash On Fears Of Recession
On Monday, oil prices fell to the lowest levels in 15 months, as fears over risks in the global banking sector spiraling into a global recession gripped investors, and prompted…
G7 Central Banks Act To Boost Dollar Funding
In a joint statement, the US Federal Reserve and five other major central banks announced they are launching a coordinated effort to increase the flow of US dollars throughout the…
European Bank Stocks Fall As UBS-Credit Suisse Merger Fails To Calm Fears
On Monday, Switzerland’s two largest investment banks, UBS and Credit Suisse, saw their stock prices plummet as news of their weekend merger failed to calm a jittery market that remains…
Russia Bans SWIFT System
On Monday The Bank of Russia announced all Russian financial institutions will be banned from using the SWIFT messaging system for transactions inside the country. As of October all Russian…
