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Global oil & gas discoveries to hit 75-year low in 2021

As of the end of November, total global discovered volumes this year are calculated at 4.7 billion barrels of oil equivalent (boe) and, with no major finds announced so far this month, the industry is on course for its worst discoveries toll since 1946. This would also represent a considerable …

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China exerts global rare earths dominance

The mega-mining entity has been formed by consolidating rare earth subsidiaries of state-owned corporations such as China Minmetals, Aluminum Corporation of China, and Ganzhou Rare Earth Group, according to a stock exchange filing seen by Bloomberg. Dubbed China Rare-Earths Group, the new enterprise is expected to ramp up the development …

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China & Russia are ready to end US dominance of global finance

China and Russia have been gradually moving towards such an arrangement since the Global Financial Crisis of 2008 revealed the risks of excessive reliance on the US. However, American economic sanctions against both Moscow and Beijing appear to have intensified the search for alternatives. Banking on Washington The American-centric financial architecture …

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Country that could lead global food market in 2025 revealed

“We can see a serious [post-Covid-19 pandemic] decline in the global agro-industrial complex, where our country is showing good growth dynamics. Russian farmers can take leading positions in the world food market,” political analyst Alexei Martynov said this week, as cited by Prime. According to Martynov, the sanctions introduced by …

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Israel heads ‘hack simulation’ on global financial markets

Dubbed “Collective Strength” and carried out on Thursday, the international cyber drill was conducted alongside the United States, Britain, Germany, Italy, Thailand and the United Arab Emirates, among other countries, as well as major financial institutions like the International Monetary Fund (IMF) and World Bank, according to the outlet.  Treasury …

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US considers isolating Russia from global financial system – Nuland

Speaking to the US Senate Foreign Relations Committee, Under Secretary of State Victoria Nuland explored possible ways that Washington could punish Moscow for any military incursion. “What we are talking about would amount to essentially isolating Russia completely from the global financial system, with all the fallout that would entail …

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Omicron variant poses ‘very high’ global risk – WHO

The WHO released a technical brief on Omicron, which was classified as a variant of concern (VOC) on Friday. “The overall global risk related to the new VOC Omicron is assessed as very high,” the brief said. The agency described Omicron as a variant with a high number of mutations, …

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Global supply crisis is here to stay and will make you pay more

The Covid-19 pandemic has impacted trade around the world, causing product shortages and pushing up prices. The ongoing disruptions are hitting global growth. What are global supply chains? Global supply chains are networks that span all continents and countries for the purpose of sourcing and supplying goods and services. It …

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UN names threat that may cause global spike in prices

“The current surge in freight rates will have a profound impact on trade, and undermine socioeconomic recovery, especially in developing countries, until maritime shipping operations return to normal,” UNCTAD Secretary-General Rebeca Grynspan explained, as cited by Reuters. In its Review of Maritime Transport 2021, published on November 18, UNCTAD stated …

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