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The devaluation of the British pound has resulted in India's nominal GDP exceeding the UK. India is now the fifth or sixth largest economy in the world based on nominal (exchange rate) GDP UK, India and France are nearly tied based on exchange rate.
Greek banks have proposed a series of measures to combat tax evasion, strengthen the electronic transactions and limit the use of cash in the economy, and as KeepTalkingGreece.com reports, one of the measures proposed is a special tax on cash withdra
As Brandon Smith makes eloquent in this article, a global showdown is looming, and the long-standing alliance between the United States and Saudi Arabia is likely to be broken, as self-interest drives new alliances in the era of global SDR currencies
To the casual observer, Saudi Arabia might seem like an emboldened nation that is asserting itself.
Saudi oil minister Ali al-Naimi said on Tuesday that a cut in the kingdom's oil production "is not going to happen," according to the Financial Times.
Saudi Devaluation Odds Highest In 20 Years, Kingdom Now More Likely To Default Than Portugal
The Economist is reporting in its upcoming January 9 print edition that Saudi Aramco, the Saudi state-owned oil company believed to be the world's most valuable company, might issue shares for the first time in its history.
If there's one thing to take away from this year's developments in markets and economies so far, it's that they are all linked, they're all part of the same thing. If you can't see that, you're not going to understand what's happening.
Slumping crude prices wreaked havoc on the kingdom's finances. Saudis are now staring down a deficit on both the fiscal and current accounts with the former amounting to some 20% of GDP and the latter representing the first negative balance in at l
Jim Rogers exits India, says one can't invest just on hope Rogers said he has sold all his India shares as he saw nothing new coming from Prime Minister Narendra Modi. He said he may return to India at some stage if Narendra Modi starts doing things,
Saudi Arabia is seeking advice on how to cut billions of dollars from next year's budget because of the slump in crude prices, according to two people familiar with the matter.
Late yesterday, the US and Iran reached a framework agreement on a nuclear deal.
"This is further evidence that they are hellbent on protecting their market share in China,"...
After thirteen years of occupation by U.S. forces, Afghanistan set a record for growing opium poppies in 2014, according to data from the United Nations Office on Drugs and Crime (UNODC). Heroin is derived from the poppy.
"People should not be worried," explained Kazakhstan President Nursultan Nazarbayev in a TV address over the weekend, "we have a plan in place if oil prices are $40 per barrel."
Saudi Arabia's former spy chief Prince Turki said world's biggest oil exporter won't surrender market share to anyone
Oil Shock Streaks Across Globe From Moscow to Tehran to Caracas. Ready for $40?
It appears, just as we warned two weeks ago, that the 'dumping strategy' designed to punish Obama's nemesis Putin could have morphed into a Saudi Arabian strategy to keep its foot on the neck of the US Shale Oil industry.
LONDON/NEW YORK (Reuters) - Saudi Arabia is quietly telling the oil market it would be comfortable with much lower oil prices for an extended period, a sharp shift in policy that may be aimed at slowing the expansion of rival producers including thos
The vice-president of Russia's state-owned oil behemoth Rosneft has accused Saudi Arabia of manipulating the oil price for political reasons.
Stocks in Dubai crashed 6.5% on Sunday.
Let's talk about the ongoing power shift from the West to the East.
Much of the manual labour in these countries, and much of the domestic work, is performed by people who in the 19th century were known as indentured bond-slaves or coolies. The British Empire abolished slavery in the 1830s, the U.S. in the 1860s, but
The global corporatist economy works differently from business transactions at your neighborhood convenience store. Ostensibly, the International Monetary Fund was set up to allow the G20 nations to umpire the ground rules to play nice in macro trade
Spot what is missing in the just blasted headline from Bloomberg: •IRAN, RUSSIA SAID TO SEAL $20B OIL-FOR-GOODS DEAL: REUTERS
Dear Depositor: We don’t want to cause you unnecessary stress or worry, but it might be prudent to pay attention to a series of unusual news reports recently emanating from the banking world.
For the community in the Persian Gulf states, see Huwala.
A delay in potential U.S. military action in Syria and improving economic data from China and Europe boosted appetite for riskier assets on Monday, lifting world shares and sending the yen lower.
UPDATE: BIST-100 Closes -10.47% - Biggest drop since March 2003
"As part of the program, in its first phase, Nigerians 16 years and older, and all residents in the country for more than two years, will get the new multipurpose identity card which has 13 applications including MasterCard’s prepaid payment technolo
