Economy
Iran’s currency has tumbled to historic lows as capital flight accelerates and oil revenues decline under renewed US sanctions, deepening strains on an economy already grappling with high inflation and social pressure over potential bread price increases. The Iranian rial weakened to around 16.3......
Russia’s flagship Urals crude is trading at its steepest discount to global benchmark Brent in nearly three years, underscoring mounting pressure on Moscow’s key export revenues as Western sanctions persist and Indian demand weakens. The discount on Urals expanded to $28 per barrel on a......
European equities edged lower on Thursday after reaching record highs a day earlier, as investors weighed a sharp rise in oil prices against escalating tensions between the United States and Iran over Tehran’s nuclear program. The pan European Stoxx Europe 600 index fell 0.1 percent in early trading,......
Russia’s oil sector is entering its deepest crisis in decades as Western sanctions drive export prices sharply lower and push smaller producers toward insolvency, threatening a central pillar of the Kremlin’s wartime economy. State lender VTB is preparing to file for bankruptcy against First......
Investor sentiment toward the US dollar has fallen to its most bearish level in more than 14 years as the BRICS bloc steps up efforts to develop a cross border payment system aimed at reducing reliance on dollar dominated financial channels. The initiative builds on Brazil’s instant payment platform......
European natural gas prices dropped sharply on Monday as forecasts of milder temperatures across the continent eased immediate concerns over heating demand. The benchmark Dutch TTF contract slid more than 5 percent to around 30.75 euros per megawatt hour, according to Trading Economics, marking its lowest......
Global equity markets advanced on Monday as investors looked past weekend geopolitical headlines and turned their focus to high stakes nuclear negotiations between the United States and Iran scheduled for Tuesday in Geneva, along with a busy week of corporate earnings led by major retail and agricultural......
Cuba is confronting its most severe fuel shortage since the collapse of the Soviet Union as oil sanctions imposed by the Trump administration intensify, prompting the government to activate emergency rationing measures while Washington simultaneously delivers humanitarian aid through the Catholic Church. Havana......
Finance ministers from the 20 eurozone countries met in Brussels on Monday to outline steps aimed at boosting the international standing of the euro, as Europe seeks to lessen its reliance on the US dollar amid mounting geopolitical and economic pressures. The meeting, chaired by Greek Finance Minister......
The Japanese yen retreated in early Asian trading on Monday after posting its strongest weekly performance since November 2024, as weaker than expected economic data dampened expectations of a near term interest rate increase by the Bank of Japan. The currency slipped 0.2 percent to 153.07 per dollar,......
Venezuela’s state oil company, Petróleos de Venezuela, S.A. (PDVSA), has limited crude sales over the past two weeks to companies holding individual licences from the United States, curbing exports despite a broader general licence issued by US authorities earlier this year. According to......
World Trade Organization Director General Ngozi Okonjo-Iweala has urged China to rethink its export-driven growth strategy, warning that the country’s record $1.2 trillion trade surplus cannot be sustained because the rest of the world is unable to absorb it. Speaking at the Munich Security Conference,......
Cuba is facing its most severe energy crisis in decades, with satellite imagery showing that nighttime lighting across the island has fallen sharply after efforts by the Trump administration to restrict its oil supply. The shortages have plunged large parts of the country into darkness, grounded international......
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