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Currencies

Forex rigging probe: US prosecutors to grill London traders
US prosecutors are set to travel to London in the forthcoming weeks to probe City traders about currency market manipulation. However, British prosecutors are yet to file a criminal charge against UK financiers who rigged the rates.

25.11.2014 12:34

​‘BRICS system’ – healthy alternative to ‘defunct dollar system’
The BRICS Bank marks a major step to de-dollarization, and a new monetary system. It should replace the Western-dominated “predatory casino scheme” that has contributed to world wars and “economic terrorism,” says former World Bank economist Peter Koenig.

24.11.2014 13:37

​Russia loses $140bn with sanctions and falling oil prices – Finance Minister
Russia is losing around $40 billion a year due to Western sanctions, but they are not as critical to the economy as lower oil prices, which add $90-100 billion in losses, says Russian Finance Minister Anton Siluanov.

24.11.2014 09:12

Iraqi dealers confirm ISIS hoarding gold, precious metals to issue currency – report
Islamic State militants are reportedly acquiring gold, silver and other precious metals in a bid to further solidify their control over large swathes of Syrian and Iraqi territory by issuing their own currency, Iraqi metal dealers confirmed to McClatchy.

21.11.2014 16:13

​Russia-China trading settlements in yuan increases 800%
Settlements in yuan between China and Russia have increased ninefold in annual terms between January and September 2014, says the Chinese Ministry of Economic Development.

21.11.2014 13:57

Russian ruble continues recovery, as oil back to $80
The Russian ruble continued its fight back on Friday to move above 46 against the US dollar, as the price of Brent crude slid over the $80 per barrel threshold.

21.11.2014 12:25

​EU is in serious trouble and it’s not Russia’s fault
Angela Merkel has criticized Vladimir Putin’s, apparent, strategy to spread Russia’s sphere of influence in Eastern Europe. The Chancellor doesn't acknowledge that Germany’s domination of Europe has been disastrous for some states.

20.11.2014 22:05

Where has all Ukraine's gold gone?
Ukraine’s Central Bank chief has divulged some shocking intel: its gold stockpile has reached a new nadir - almost zero. Since the beginning of the year, gold reserves have dropped nearly 16-fold, which begs the question, where did all of it go?

20.11.2014 14:33

​Russia to crack down on over-the-counter ‘Forex clubs’ at banks
The Central Bank of Russia intends to stop banks from operating in-house foreign exchange (Forex) markets or offering the service to Russian customers, according to the First Deputy Governor Sergey Shvetsov.

20.11.2014 11:49

Russian ruble recovering against US dollar as oil heads back to $80
The Russian currency started to bounce back in Tuesday trading, as oil prices edged closer to $80 per barrel, an important benchmark that was crossed last week.

18.11.2014 08:58

​Frankfurt begins first European direct settlements in Chinese yuan
European companies now have the opportunity to settle trading accounts in Chinese yuan. The Bank of China in Frankfurt has become the first to operate European yuan clearing. Trading costs will be cut as there will be no dollar exchange first.

18.11.2014 07:16

Russians spending spree on real estate, cars as ruble plunges
The weak ruble is transforming the way Russian save and spend their money, with many turning to property, cars, and jewelry instead of seeing their money depreciate in the bank.

17.11.2014 10:34