Over 60 percent of travelers plan to reduce trips in post-pandemic world – IATA survey

Most people are planning to avoid travel even after the pandemic subsides due to health risks and economic uncertainties, a recent poll by the International Air Transport Association (IATA) shows. While some 58 percent of travelers surveyed by the aviation agency in 11 countries said they “have avoided air travel,” some 33 percent are not planning to travel in the near future to avoid catching the deadly virus....

Russia continues stockpiling gold, adding $2.7 billion to forex reserves

Russian gold and foreign currency holdings hit almost $569 billion as of July 1, according to the latest data released by the country’s central bank. The international funds increased by $2.7 billion, or around 0.5 percent, compared to the previous month. They rose by more than $50 billion since last July. The state international reserves are highly liquid foreign assets comprising stocks of monetary gold, foreign currencies, and...

An offer you can’t refuse? Trump slaps France with 25% tariffs, but gives it 180 days to ‘rethink’ taxing Apple, Google & others

US President Donald Trump has imposed a 25 percent import duty on French goods in an effort to scuttle the country’s digital services tax – making it clear that Paris has several months to rethink cutting into Big Tech’s profits. The tariff would affect some $1.3 billion worth of imported French goods like handbags and cosmetics, the US Trade Representative’s office revealed on Friday. However, France has a...

World’s top grain exporter Russia keeps global supplies high despite Covid-19 pandemic

Exports of Russian grain are expected to total 41.7 million tons in the current agricultural season, according to the Russian Federal State Statistics Service. Supplies of wheat to the global market may reach 33.2 million tons. That’s in line with pre-pandemic projections from industry experts, who said in February deliveries could be in the range of 32-to-42 million tons. In the previous, 2018-2019 agricultural season, Russia exported 35.2...

Oil could ‘pretty easily’ rebound to $150 a barrel despite crashing prices this year, analysts predict

After having gone below zero this year due to the coronavirus pandemic and to disagreements between global oil producers, the price of crude has all the chances of rebounding significantly from these historic lows. That’s according to the estimates of analysts, who told The Wall Street Journal that investment in oil and gas production will dry up and propel crude prices back above $100 a barrel. “That funding pressure...

RT’s Boom Bust explores what’s wrong with the US healthcare system & how to make it work better

Hundreds of primary care facilities could be set up across the US in the midst of the Covid-19 pandemic. Boom Bust brings in some expert analysis on the move and the health sector in the country. We’re joined by Rick Sanchez, host of the News with Rick Sanchez and founder of a managed healthcare company in South Florida, which is the fastest growing in the US,...

China’s aviation industry takes $5-BILLION hit from coronavirus pandemic

China’s Civil Aviation Administration (CAAC) revealed on Friday that the nation’s air travel industry has lost 34.25 billion yuan ($4.89 billion) in the second quarter of the year, slightly less than the $5.43-billion loss in Q1. China’s aviation industry, which includes airlines, airports and other aviation companies, has been recovering faster than most countries emerging from coronavirus lockdowns. However, passenger numbers showed the sector is still way below pre-covid...

Can India really shut down oil supply to China?

Threats to oil shipping routes are nothing new to the oil market. It has endured Iran seizing tankers in the Strait of Hormuz, and it has endured Iran's repeated threats to close this most important chokepoint in the world. But what the oil market is perhaps not prepared to shrug off are similar threats made by one of the world's largest oil consumers--India--to choke off the oil that...

Alibaba dethrones Facebook as world’s sixth-most valuable company

Stock Market of Chinese e-commerce giant Alibaba soared over 10 percent, allowing it to overtake US social media firm Facebook by market capitalization and climb higher among the world's most valuable firms. Alibaba stock enjoyed its biggest one-day percentage gain since its secondary listing in Hong Kong in November. At $261 per share, its market cap soared to HK$5.614 trillion (over US$720 billion), outweighing that of its closest...

‘India awaits you all’: PM Modi says ‘doors are open’ for companies across the world to invest

India will lead the post-Covid-19 global economic revival, according to Prime Minister Narendra Modi, who was addressing the India Global Week 2020 virtual conference on Thursday. The three-day forum is expected to be attended by 5,000 participants from over 30 countries and will focus on India’s trade and foreign investment prospects, as well as the global economic revival. In his inaugural speech, Modi said: “India remains one of...

‘Gold is the real bitcoin,’ says asset manager after bullion price smashes decade high

The traditional safe haven asset, gold, topped $1,800 this week – the highest level in more than nine years. Analysts say the yellow metal’s rally is just getting started. “I guess gold is the real bitcoin,” Boris Schlossberg, managing director of FX strategy at BK Asset Management, told CNBC. “Ultimately I think what’s happening is the market is taking implicit bets that inflation is starting to pick itself...

Embarrassment of riches? Jeff Bezos breaks own wealth record AGAIN amid coronavirus misery

Thanks to his company’s stock market performance, Amazon founder Jeff Bezos keeps getting richer by the week. After adding another 10 billion to his fortune in seven days, his net worth has hit a new high of $183 billion. Amazon market cap skyrocketed to $1.54 trillion as markets closed on Wednesday after the tech and e-commerce giant’s stock rose nearly three percent to close at a record $3,081...
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