Finance & Economics
Austria’s Bold Stance on Russian Gas: A New Chapter in Energy Politics
The Austrian utility company OMV announced that it would no longer pay for gas supplied by Gazprom, the Russian state-controlled gas giant. This decision came in light of a €230 million arbitration award granted to OMV by the International Chamber of Commerce due to irregular gas supplies from Gazprom. Background of the Dispute The tensions…
Read MoreDebt and Monetary Dynamics of Developed vs Developing Nations: Lessons of Singapore and Reflections on Economic Strategies for Kenya and other Developing Nations
It’s fascinating to learn that Singapore’s debt primarily finances long-term infrastructure projects and boosts liquidity in the bond market, rather than covering budget deficits like many other countries, both developed and developing. I came across a video that discusses Singapore’s so-called high foreign debt. Interestingly, this debt stems from foreign deposits in Singapore’s robust and…
Read MorePOLAND WILL NO LONGER ARM UKRAINE, after Ukraine complains to WTO over grain ban in Poland
In a series of recent developments, tensions have flared between Ukraine and several European Union member states, leading to significant economic and political repercussions. On September 15th, the European Commission announced the termination of the import ban on grain from Ukraine. This decision marked the culmination of a previous agreement made in May by the…
Read MoreRussia’s Gazprom cut off gas supplies to Poland and Bulgaria over non-payment in rubles
Russia Gazprom had cut off gas supplies on Wednesday (27 April 2022) to Poland and Bulgaria over their failure to make payments in Russian rubles, and had warned that siphoning of any gas supplies meant for other European customers will be responded with a reduction of the similar amount in gas supply to those customers…
Read MoreCrisis in Sri Lanka: state of emergency imposed by government
The inability for the Sri Lanka government handle their acute shortage in foreign currency is spiraling out of control, as the government desperately imposed a state of emergency to deal with the protests on the streets. According to AFP (https://news.yahoo.com/sri-lanka-runs-diesel-faces-071054451.html), diesel was no longer on sale on 31 March 2022 across Sri Lanka – the…
Read MoreBelarus to vote on constitutional changes to host nuclear weapons and effectively make Lukashenka a dictator – Russia pushed to the brink
Lukashenka, 67, has proposed amending the constitution, the third time he has done so since coming to power in 1994, that would allow him to rule to 2035, offer him a new lever of power, and abolish a section of the document defining Belarus as a “nuclear free zone,” possibly paving the way for the…
Read MoreBiden reimposed sanctions on Russia’s Nord Stream 2 pipeline after lifting it 9 months prior
“Yesterday, after further close consultations between our two governments, Germany announced that it would halt certification of the pipeline. Today, I have directed my administration to impose sanctions on Nord Stream 2 AG and its corporate officers,” “These steps are another piece of our initial tranche of sanctions in response to Russia’s actions in Ukraine. As…
Read MoreAre small and medium states ready to stop terrorists with cryptocurrency?
Cryptocurrency, or “crypto” as some prefer to call it, is slated to be the future of financial transactions. While the further development of crypto is widely celebrated, with mild speculations, traceability remains the most important issue surrounding the digital currency that requires abject focus. Often, acute discussions about the pros and cons of cryptocurrency assume…
Read More[ Engadget ] Crypto.com loses $34 million in hack that affected 483 accounts
In an interview with Bloomberg TV, Crypto.com’s Chief Executive Kris Marszalek has admitted that 400 customer accounts were compromised by hackers. He said his team detected unauthorized transactions made from the accounts, but that they’d fixed the issue immediately and fully reimbursed the affected users. Apparently, 483 accounts were affected and the unauthorized withdrawals totaled 4,836.26 ETH,…
Read MoreVenezuela finally got out of the hyperinflationary cycle into extremely high monthly inflation
After 12 months of consecutive inflation that is below 50%, some analyst / media started to declare that Venezuela is finally out of the hyperinflationary cycle. Venezuela came out of the hyperinflationary cycle in which it had been since 2017, accumulating 12 continuous months below 50% inflation, after registering 7.6% in December, the Bank reported…
Read More