Russian President Vladimir Putin told Venezuelan President Nicolás Maduro that their countries must team up to shore up oil prices, a spokesman for the Kremlin said, Reuters reported Thursday. Both leaders were in Beijing to attend a military parade marking the 70th anniversary of Japan’s surrender at the end of World War Two.
The price of a barrel of oil has dropped by half since June 2014 and continues to hover at about half the normal price over the past ten years. On Thursday, Brent crude oil was trading for roughly $51 per barrel.
Oil futures jumped 10 percent on Thursday, in the biggest one-day gain in over six years, prompted by rallying stock markets, news of diminished supplies and apparent moves by Venezuela to try and arrange OPEC action to curb the global slump in oil prices.
Crashing oil prices will hit India’s energy security efforts, and impact Indian Prime Minister Narendra Modi’s roadmap for the country to reduce dependence on oil imports by 10 percent in the next few years, local newspaper Economic Times reported Monday, citing industry executives and analysts.
LONDON (Reuters) – Oil prices steadied at $50 a barrel after a 5 percent drop and badly bruised commodity and Chinese markets were calmer generally on Tuesday, as investors attempted to shake off the recent turbulence.
European stocks reversed some of the previous day’s gains and safe-haven German government bonds were in demand as the region opened, but there was some respite for commodities and their related currency and share markets.
Edward Snowden: Did NSA Leaks Change Politics, Public Opinion About Government Spying, Whistleblowers?
Two years ago this month, a 29-year-old government contractor named Edward Snowden became the Daniel Ellsberg of his generation, delivering to journalists a tranche of secret documents shedding light on the government’s national security apparatus. But while Ellsberg released the Pentagon Papers detailing one specific military conflict in Southeast Asia, Snowden released details of the U.S. government’s sprawling surveillance machine that operates around the globe.
Climate Change And Food Security: Coffee Farmers In Tanzania Feel Strain Of Rising Temperatures, Unpredictable Rainfall
Hundreds of farmers in Tanzania are abandoning crops of coffee and cotton due to changes in the local climate. Instead, they’re planting more lucrative vegetables and flowers as temperatures rise and rainfall becomes less predictable.
(Reuters) – India has raised the import tax on sugar to 40 percent from 25 percent to help prop up falling local prices and protect local farmers who have not been paid by money-losing mills, the government said in a statement said on Wednesday.
India also slapped the tax on imports of raw sugar that refiners turn into whites, or refined sugar, to sell in world markets.
Five straight years of surplus output has led to a free fall in prices, hitting mills’ financials. Sugar mills owe about 201 billion rupees ($3.18 billion) to farmers.
SHANGHAI — China’s exports fell by 14.6 percent in March, dashing predictions of a continuing rebound in the world’s second-largest economy.
At a U.S. Senate committee hearing Thursday, Federal Reserve Board member Daniel Tarullo singled out Morgan Stanley and goldman Sachs over continued trading in commodities markets, suggesting that the Dodd-Frank Act could be bolstered to limit the banks’ activities in these markets.
On Tuesday, Indian Prime Minister Narendra Modi will embark on a tour of three of India’s island neighbors as part of a charm offensive intended at veering India’s neighbors away from China’s influence and to counter its ‘string of pearls’ strategy in the region.