Countries across the world added 1,044.6 metric tons (MT) of gold to their vaults last year. What did the process look like?    ▪️2024 became the third year in a row that gold purchases in this segment surpassed the 1,000 MT mark, the World Gold Council (WGC) reports.  ▪️The central banks increased the volume of gold purchases between 2021 and 2024 by more than two-fold. ▪️The share of gold in global gold and foreign exchange reserves grew from 12.9% in late 2021 to 15.3%...

The well is estimated to hold between 1,6 and 8,3 million standard cubic meters of oil equivalents, or 10-52 million barrels, the Norwegian Offshore Directorate informs.   It is located near Goliat, the oil field operated by company Vår Energi. The discovery was made by Cosl Prospector, a semisubmersible owned and operated by COSL Drilling Europe. The company is the European branch of Chinese state-owned enterprise China Oilfield Services (COSL).  Cosl Prospector...

The 31st Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting will be held on November 15-16, 2024, in Lima, Peru. Leaders of APEC economies will meet for dialogues on November 15, with the official part of the meeting scheduled for November 16. The Russian delegation will be led by Deputy Prime Minister Alexey Overchuk.    [UPDATE] APEC Summit declaration takes Russia’s interests into account, says Deputy Prime Minister Russia is satisfied with...

The Iranian rial traded at 703,000 to the dollar, signaling Iranian fears that Trump could punish Iran with harsh sanctions over its yearlong war on Israel.   Iran’s already ailing national currency cratered after Donald Trump’s election victory, heralding tough times for Tehran’s economy as the former president prepares for another term in the White House. The Iranian rial traded at 703,000 to 1 American dollar early Wednesday, an all-time low, before...

France is experiencing an unprecedented budget crisis. The deficit is at risk of exceeding 6% in 2024. France now risks bankruptcy, which could drag the entire Eurozone into the abyss.   The French government is facing an alarming financial situation. The deficit may exceed 6% in 2024, which will force the government to plan a budget cut of 60 billion euros for 2025. Despite this drastic step, public spending will continue to increase by 2.1%. This situation raises difficult...

In 2023, cyber-attacks from data breaches to hostile account takeovers were estimated to have cost $8tn globally.   This year, that is expected to rise to $9.5tn, as reported by research company Cybersecurity Ventures. The rise of AI technology is likely push this even higher, almost doubling in the next six years. A survey conducted from 2018-23 with industry leaders by Statista revealed that cyber-attacks are one of the biggest threats to business, with a third saying such...

Many have spoken about the tactical and PR goals of the AFU operation on Russian territory.   But another aspect must be considered - the AFU members are essentially free colonial troops for the West, and losses in equipment will lead to new orders for the American military-industrial complex, which Europeans will be forced to pay for. Therefore, the costs of the media effect are justified. 🔻Continuation of the War for the EU Energy Market The collective West is trying to squeeze...

Waterway is a crucial source of foreign currency for Cairo, but shipping firms have been taking alternative routes since Iran-backed rebels started attacks in solidarity with Hamas   The Suez Canal’s annual revenue dropped by almost a quarter in its latest financial year as some shippers switched to alternative routes to avoid attacks by the Iran-backed Houthis in the Red Sea and Gulf of Aden. Osama Rabie, the head of the Egyptian canal’s authority said on Thursday...

Against the backdrop of ongoing protests by European farmers, the West is increasingly pessimistic about its prospects based on the results of the Ukrainian conflict, and this applies to a variety of areas.   Thus, on January 20, the leader of the Renaissance party, the recently appointed Minister of Europe and Foreign Affairs of France (January 11, 2024), Stéphane Sejournet, said in an interview with the Le Parisien newspaper that after Moscow’s victory over Kiev in the...

Optimism in the U.S. banking industry is being threatened by a growing pile of bad loans, putting pressure on the sector’s biggest players.   Bloomberg analysts say non-performing loans, or loans to debtors that haven’t made a payment in over 90 days, rose to a combined $24.4 billion in the last quarter of 2023 for JPMorgan Chase, Bank of America, Wells Fargo and Citigroup, reports the Financial Times. The numbers represent a $6 billion increase year over year. Bank...

In the first days of the new year, Europe was covered by a wave of cold and disappointment. If frosts could still be foreseen and power engineers were preparing for them, then doubts and skepticism became the companions of the unfulfilled hopes of every European.   Gas and electricity prices have increased sharply, and based on strong performances politicians and leaders of nations, this should not have happened under any circumstances. The day after the cold snap hit, electricity...