Posts tagged 'World Economy'

Ghana Negotiates to Barter Oil for Gold

Ghana Negotiates to Barter Oil for Gold

November 28, 2022
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The West African nation Ghana has reached a tentative gold-for-oil barter agreement with Emirates National Oil Co.
China Conducted World’s Largest Cross-Border CBDC Test

China Conducted World’s Largest Cross-Border CBDC Test

November 22, 2022
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According to the Bank of International Settlement (BIS), China just finished a six-week cross-border CBDC test. The test was called Project mBridge.
From Zero to One: China Reports Covid Deaths

From Zero to One: China Reports Covid Deaths

November 22, 2022
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On Saturday, China reported its first Covid death in six months. On Sunday, China reported two more, totaling three for the weekend.
Japan Sells Foreign Reserves  For the Third Straight Month

Japan Sells Foreign Reserves For the Third Straight Month

November 10, 2022
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Japan’s Ministry of Finance (MOF) announced that Japan sold another 3.5% or $43.4 billion worth of foreign reserves in October.
Saudi Arabia Lowers Oil Prices for Asia and Raises Prices for Europe

Saudi Arabia Lowers Oil Prices for Asia and Raises Prices for Europe

November 10, 2022
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The goal of BRICS is to splinter the world into two economies by creating a basket of commodity-backed currencies to compete against the dollar.
Egypt Central Bank Committed to Moving Away from Dollar

Egypt Central Bank Committed to Moving Away from Dollar

October 26, 2022
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At the IMF conference, Egyptian Central Bank Governor, Hassan Abdalla, stated Egypt would develop a currency indicator to distance itself from U.S. Dollar.
Japan Yen Passed Scary Benchmark Against the Dollar

Japan Yen Passed Scary Benchmark Against the Dollar

October 25, 2022
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For the first time since 1990, the U.S. Dollar reached 150.09 Japanese Yen briefly in overnight trading. Read more on why this matters to your portfolio.
U.S. Federal Reserve Sends $6.27B To Swiss Banks

U.S. Federal Reserve Sends $6.27B To Swiss Banks

October 25, 2022
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Recently, the Swiss National Bank took $6.27B from the U.S. Federal Reserve swap line. The previous week, the Swiss National Bank took $3.1B.
Biden Vows Consequences for Saudi Arabia

Biden Vows Consequences for Saudi Arabia

October 18, 2022
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Recently, OPEC+ slashed oil production by 2 million barrels per day. Read more on what this means for precious metals.