China could build world’s longest tunnel link to Taiwan
Aug13

China could build world’s longest tunnel link to Taiwan

While its opponents are investing in wars, Beijing is investing in infrastructure. China seeks to build a tunnel that would connect its mainland with Taiwan. If realized, shuttle trains would run through a 135km undersea section of the tunnel at up to 250kph by 2030 from China to Taiwan, which Beijing considers a renegade province rather than an independent state. The gigantic project would be dug under the ocean, at a depth of 200...

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Russia may ditch dollar in oil trade as it is too risky – finance minister
Aug13

Russia may ditch dollar in oil trade as it is too risky – finance minister

The US dollar is not a reliable tool for payments in international trade, Russian Finance Minister Anton Siluanov told Russian media. Payments in national currencies might be used instead, he said. In an interview to Rossiya 1 TV, the finance minister expressed doubt that the internationally recognized currency is reliable. Siluanov also said he does not “rule out” the possibility of switching to national currencies in oil trade. “We...

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Is this the end of ultra cheap gasoline in Venezuela?
Aug06

Is this the end of ultra cheap gasoline in Venezuela?

As the economic crisis continues to deepen, Venezuela’s President Nicolas Maduro is promising a new policy on gasoline (the world’s cheapest)— which is currently generously subsidized by the socialist regime. Maduro promised earlier this week to roll out a new plan to ease the economic crisis and hyperinflation in a televised address to the nation that was delayed because of an hours-long blackout in the capital Caracas. Although...

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Corporate crime: Five biggest financial scams of all time
Aug06

Corporate crime: Five biggest financial scams of all time

When it comes to big money there’s a whole lot of room for screw-ups, cover-ups and everything in between. The business world is no stranger to scandal with many wheeler dealers ready to gain at other people’s expense. Money managers, chief executives, lawyers… some are dead or in jail, others doing just fine, after masterminding white collar crimes amounting to billions of dollars. Let’s have a look at the biggest financial...

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The four key chokepoints for oil
Jul30

The four key chokepoints for oil

While everyone has been watching the Strait of Hormuz amid rising tension between the US and Iran, a chokepoint on the other side of the Arabian Peninsula is now at the center of the action. Saudi Arabia temporarily halted all oil shipments through the Bab al-Mandeb strait after Saudi Aramco reported attacks from Houthi rebels on two oil tankers. The two ships in question were very large crude carriers (VLCCs), each carrying 1 million...

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