Moscow: The Pension Fund in Switzerland has decided to invest nearly $700 million in gold bullion. It will be buying gold worth that amount and has also declared that the gold will be kept within the country itself. This is a significant development, said renowned investment expert Claudio Grass. This Swiss investment shows the changing […]
Read More »
Germany has fastened the process of retrieving gold which was sent to foreign countries after the World War 2. In the past three years, the Central Bank Of Germany has successfully managed to retrieve 642 tons of gold from US and France. In 2013, the German Government had announced a policy of keeping 50% of […]
Read More »
On Wednesday 6th July gold hit its highest in more than two years, by virtue of uncertainty, drop in stock markets and slide in some bond yields to record lows after Britain’s vote to leave the European Union (Brexit). Post the rise, gold rates having reached to $ 1367.104 per troy ounce (31.10 g) is […]
Read More »
Moscow: Russia’s President Vladimir Putin has warned that sanctions imposed on Russia by the West over the Ukraine conflict have led to a global economic crisis, food shortages and starvation among several developing countries. Russia is facing tough sanctions, and its economy is slowly recovering, he said. Amid Putin’s claims, Russia’s currency, the Ruble, has […]
Read More »
New Delhi: – The United States had warned that the Indian fuel purchase from Russia does not fall under the purview of the US sanctions. But the Indian purchase of fuel from Russia, the aggressor on Ukraine, at a concessional rate will be noted in history.’ The warning does not seem to have had any […]
Read More »
Washington: The effects of the harsh sanctions imposed by the western countries against Russian President Vladimir Putin and the Russian central bank are becoming visible. Within 24 hours of the imposition of sanctions, there was a record decline in the Russian economy and the value of its currency Ruble. Reports have been published that long, […]
Read More »
London/Beijing: Former British Minister Jim O’Neill claimed that the Chinese currency Yuan had the capacity of becoming the international currency saying, “The position of the US dollar as the global currency is still intact. There is only one legitimate way to change it. A new long term and the genuine currency has to be created […]
Read More »
London/Beijing/Washington: “As the world re-orders itself, this disconnect between the real and financial is likely to reduce, and in the process, other reserve currencies may emerge. In the first instance, I would expect these will be existing national currencies, such as the renminbi,” said the governor of the Bank of England (BoE), claiming China’s Yuan […]
Read More »
Moscow/Washington: Information has surfaced that Russia has sold US bonds worth about $47 billion in the month of April. This information has been received from the statistics published by the US department of treasury. Considering the consistent sanctions being imposed by the United States on the Russian economy, this sale of US bonds by Russia […]
Read More »
Moscow/Riyadh/London – The crude oil price has seen a jump after the leading countries of the oil sector, Russia and Saudi Arabia, announced to cut fuel production. On Tuesday, crude oil price crossed the $90 mark per barrel, the highest since November 2022. Analysts have estimated, on the backdrop of this increase, that crude oil […]
Read More »
