Economy

Russia has become the biggest foreign investor in Iran over the past year, Iranian officials say, as the two heavily sanctioned countries have stepped up cooperation since Russian forces invaded Ukraine. Ehsan Khandouzi, Iran’s finance minister, said Russia had invested $2.76 billion in the country in the current fiscal year that ended this week, citing …

Iranian finance minister announces increased Russian investment Read More »

As Jay Powell answered questions from reporters on Wednesday following the US Federal Reserve’s decision to go ahead with yet another interest rate hike, he joked that it’s been “pretty interesting seven weeks “. The Fed Chairman was speaking after the bank hiked rates by a quarter point and signaled that it may be about …

‘Close to thin ice’: Looming credit crunch puts pressure on Fed Read More »

The great global battle for minerals to fuel the green transition is well underway. Rare earths, lithium, cobalt, nickel: the major economies are engaged in fierce competition for the raw materials essential to their industrial transformation. Given that many are mined in developing countries – cobalt in the Democratic Republic of the Congo, nickel in …

EU seeks to tone down imperial style in finding critical minerals Read More »

Berlin’s energy watchdog has warned that businesses and households will have to cut gas consumption further if Germany is to avoid an energy crisis next winter. Klaus Müller, head of the Federal Network Agency, said Germany’s electricity crisis “is not over” and much hinged on whether next winter would be colder than the previous one. …

Germany risks running out of gas next winter, regulator warns Read More »

By Annabelle Liang business journalist 53 minutes ago source of images, Getty Images Struggling Chinese property giant Evergrande has announced plans to restructure around $20bn (£16.2bn) in offshore debt, which could be seen as a model for other struggling developers. The company said the measures will contribute “to efforts to resume operations and resolve issues …

Evergrande: Crisis-hit Chinese real estate giant proposes debt restructuring plan Read More »

Gold, XAU/USD, Federal Reserve, Unemployment Insurance Claims – Briefing: gold price won on the fed like USD and Treasury yields fell All are now focusing on early US jobless claims to gauge the impact of the SVB XAU/USD has moved back towards key resistance, where to go next? Recommended by Daniel Dubrovsky How to trade …

Gold Prices Look to US Initial Jobless Claims to Assess SVB Economic Shock Read More »

As the city debates how to bring in more progressive revenue to fill its ever-growing budget hole, Seattle’s biggest business players have proposed a way to protect their profits: suspend the JumpStart payroll tax for three years. and, for new businesses, suspend city business. and Business Tax (B&O). In a letter to the mayor and …

Big companies want a three-year break from JumpStart Read More »