There is no need for Russian and Chinese businesses to pay each other in dollars and euros, when they can settle in rubles and yuan, according to Zhou Liqun, chairman of the Union of Chinese Entrepreneurs in Russia.
By all metrics, inflation is heating up. But it’s not clear the same can said for underlying economic activity.
The latest US sanctions, which sent the Russian currency to its steepest drop in the past three years, surprisingly helped to boost the country’s budget with an extra 232 billion rubles ($3.8 billion).
The price of bitcoin took a dive , falling by more than $200 in under 20 minutes.
Fund managers' allocation to stocks is at an 18-month low, and many believe the market has peaked or will peak this year.
THE EUROPEAN Central Bank has moved first to protect global financial markets from the potential chaos caused by Deutsche Bank winding down the trading of $1.1 trillion assets on its balance sheet.
The ongoing trade spat between the world’s two largest economies will restrain the roaring U.S. economy, dulling an expected boost to growth from massive tax cuts passed through Congress just a few months ago, a Reuters poll found.
The second quarter expects to see another gold rally pushed by strong physical demand and the weaker US dollar, according to Boris Mikanikrezai, precious and base metals strategist at Metal Bulletin.
The US debt-to-GDP ratio is projected to jump to 116.9 percent by 2023, leaving behind Italy, according to the International Monetary Fund (IMF).
European markets are set to rise on Thursday morning, as soaring oil prices triggered a broader rally across commodities.