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Friday, September 30, 2022

Economy

G7 promises Ukraine military, financial support

Schloss Elmau (The Times Groupe)- As part of their commitment to Ukraine, the leaders of the Group of Seven (G7) on Monday pledged to continue their assistance in financial, humanitarian, military and diplomatic capacities for as long as necessary.

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G7 promises Ukraine military, financial support

Schloss Elmau (The Times Groupe)- As part of their commitment to Ukraine, the leaders of the Group of Seven (G7) on Monday pledged to continue their assistance in financial, humanitarian, military and diplomatic capacities for as long as necessary.

The central banks worldwide struggle to tame high inflation

New York (The Times Groupe)- In the midst of the ongoing Russia-Ukraine war, an increase in energy and food prices, and other issues, central banks are looking for ways to escape the high inflation swamp.

Bitcoin briefly dropped below $17,800 as sell-off accelerates

New York (The Times Groupe)- Bitcoin sank to about $17,800 and ether to about $897 on Saturday afternoon at around 4:15 E.T., as the crypto sell-off accelerated. As both cryptocurrency prices breach symbolic price barriers, the world's two most popular cryptocurrencies are down more than 35% in the past week.

Bitcoin dives below $19K, crypto market loses $67B in 8 hours

New York (The Times Groupe)- Bitcoin fell below $19,000 on Saturday, its lowest level in 18 months, while the crypto market lost $67 billion in just eight hours.

US Dow ends week below key 30,000 mark as recession fears grow

New York (The Times Groupe)- U.S. markets ended Friday's chaotic week with the Dow Jones Industrial Average dropping below the key 30,000 level for the first time since January 2021.

Goldman sees Turkey inflation of near 80% before relief comes

New York (The Times Groupe)- Inflation in Turkey has reached over 70 percent. Yet, Goldman Sachs predicted on Friday that annual inflation in Turkey will reach almost 80% before decreasing to 60% by the end of 2022 due to favourable base effects.

Elon Musk, Tesla, SpaceX sued in Dogecoin scheme

New York (The Times Groupe)- The business magnate and investor Elon Musk, his electric car company Tesla, and space company SpaceX are being sued for $258 billion by a cryptocurrency investor who says Musk ran a Ponzi scheme to boost Dogecoin's price.

EU’s annual inflation hits 8.8% in May

Brussels (The Times Groupe)- The EU's annual inflation rate in May 2022 was 8.8%, up from 8.1% in April, according to the union's statistical office.

Aframax tanker built by Iran for Venezuela to carry fuel components in first trip

Houston/Maracay, Venezuela, (The Times Groupe)- Iranian-made oil tanker Aframax is scheduled to depart from the Middle Eastern country next month carrying fuel components for gasoline-hungry Venezuela, three sources told Reuters.

US Fed raises interest rates by 75 basis points, biggest hike in 28 years

Washington (The Times Groupe)- The US Federal Reserve raised its benchmark interest rate by 75 basis points on Wednesday, marking its largest rate hike in 28 years.

Fitch cuts 2022 growth forecast for global economy, with biggest revision to China

New York (The Times Groupe)- The credit rating agency Fitch Ratings on Monday cut its world GDP growth forecast to 2.9% for 2022.

Bitcoin dives to lowest level in 18 months with $200B weekly loss

World (The Times Groupe)- The price of Bitcoin fell on Tuesday to its lowest level in 18 months, as the sell-off continues in cryptocurrency and global equity markets amid fears of recession due to the Federal Reserve raising interest rates.

Crypto market cap dives below $1T, lowest in 17 months

World (The Times Groupe)- Cryptocurrency markets fell below $1 trillion on Monday for the first time in 17 months, as record-high inflation around the world and the Federal Reserve's hawkish stance persist as risks for investors.

Turkey to start transferring natural gas from Black Sea in 2023

Ankara (The Times Groupe)- Turkey will begin transferring 10 million cubic meters (mcm) of natural gas daily from the Sakarya Gas Field in the Black Sea to the national transmission system in the first quarter of 2023, Turkish President Recep Tayyip Erdogan said on Monday.

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