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Stop using student loans to buy bitcoin, wealth manager warns millennials

American financial author and wealth manager David Bach has urged millennials to stop investing money borrowed for education expenses into cryptocurrencies, warning 90 percent of the currencies will be worth nothing in five years. “A lot of millennials are using student loans, believe it or not, to buy cryptocurrency,” Bach told the Street in an interview. “I’ll make a prediction; ...

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Iran joins Russia-led free-trade zone

Russian Prime Minister Dmitry Medvedev has approved a draft interim agreement establishing free-trade zone between the Russia-led Eurasian Economic Union (EEU) and Iran. The corresponding order was published on Tuesday on the website of the Russian government. The agreement provides for the formation of a free-trade zone for certain goods and is subject to ratification, as it contains rules different ...

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Houthis hold 19 oil tankers hostage off Yemeni coast – Saudi media

The Yemeni Houthis have captured 19 oil tankers and are keeping them from entering the Hodeidah port, according to reports from Saudi media quoting the Kingdom’s ambassador in Yemen. The ambassador suggested three possible reasons for the detention, including an attempt to extract money from the owners of the vessels, “the continued starvation of the Yemeni people”, and a plan ...

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Putin to boost health, education & infrastructure spending by $162 billion during this term – report

Russia may see a hike in health care, education and infrastructure spending by around $ 162 billion in the next six years, with cuts in its defense spending, according to a report on Vladimir Putin’s plan for his term in office. The 10 trillion rubles ($ 162 billion) spending plan has been under consideration for several months now and is ...

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Terror attack shuts down Libyan oil pipeline

The pipeline feeding crude from the Waha oil field into Libya’s Es Sider export terminal has been shut down for repairs after a fire broke out during the weekend. An early report by Reuters cited a source from the pipeline operator Waha Oil Company who said the pipeline had been attacked by “a terrorist group.” Later, parent company NOC tweeted that preliminary investigation of ...

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Why American LNG is no substitute for Russian gas in Europe

Washington’s plan to oust Russian natural gas from the European market and substitute it with its own liquefied natural gas (LNG) shipments is not economically feasible, analysts told RT. “American LNG exports have failed to become a full-fledged alternative to Gazprom’s pipeline gas in Europe, as the latter has set another record-high last year. About half of the US LNG ...

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US hints at relieving pressure on Russia's RUSAL if owner sells firm

Russia’s biggest aluminum producer and key global supplier RUSAL will be relieved from US sanctions if its owner Oleg Deripaska relinquishes control over the firm, according to the US Treasury. Shares in RUSAL surged almost 15 percent on the Moscow Exchange following the news while global aluminum prices dropped almost 1 percent. The price of the metal had soared 31 ...

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Crude mood: Hedge funds bullish on oil as analysts expect black gold to surge to $80

Commodity funds are currently attracting investments at the fastest pace in more than a year as geopolitical concerns are boosting oil prices to the highest levels since 2014. Prices for WTI crude are set to exceed $ 80 per barrel from the current $ 68 in the nearest future, according to analysts at Westbeck Capital Management and Commodities World Capital, ...

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