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Bitcoin has surpassed Dutch Tulip Mania as biggest bubble ever

Published time: 13 Dec, 2017 09:30 Edited time: 13 Dec, 2017 09:42 Virtual currency bitcoin has officially become the largest bubble in history, eclipsing the notorious “Tulip Mania,” the speculative bubble that shook the Dutch economy before it collapsed in 1637. According to analysts Howard Wang and Robert Wu from Convoy Investments, the bitcoin price has “gone up over 17 ...

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Ukraine gas transit to Europe plunges by quarter after pipeline blast in Austria

Published time: 13 Dec, 2017 09:46 Ukraine is sending 23 percent less Russian gas this Wednesday to Europe following the fatal explosion at the Austrian gas facility on Tuesday. Read more Despite the plunge in transit, “Ukraine will timely fulfill the requests of European importing countries and is ready to increase the volume of pumping of gas to Europe after ...

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Two major cryptocurrency exchanges suffer outages

Published time: 12 Dec, 2017 18:57 Cryptocurrency exchange operators Coinbase and Bitfinex have been experiencing technical problems in the two seemingly unrelated incidents. Coinbase’s website, as of 17:00 GMT Tuesday, showed “service unavailable,” flashing a message that said it was down for maintenance. Its exchange, the gdax.com, appeared to be operational, stating, however, that it was experiencing “minor service outage.” ...

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Dollar's days as world’s most important currency are numbered – Berkeley economics professor

Published time: 12 Dec, 2017 14:32 Currencies will soon coexist on a more ‘equal footing’ in international markets, and the US dollar will be forced to share prominence with the Chinese yuan and the EU’s euro, according to global currency systems expert Barry Eichengreen. In his book How Global Currencies Work: Past, Present, and Future, he wrote that reserve currences ...

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World Bank no longer to fund oil and gas projects to slow global warming

Published time: 12 Dec, 2017 14:55 Edited time: 12 Dec, 2017 14:57 To boost the global economy’s shift to cleaner energy, the World Bank announced on Tuesday it will stop the financing of oil and gas exploration and extraction starting from 2019. “As a global multilateral development institution, the World Bank Group is continuing to transform its own operations in ...

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India roars back as one of world's fastest growing economies

Published time: 12 Dec, 2017 13:37 Japanese brokerage Nomura projects the Indian economy is on the cusp of a cyclical recovery with 7.5 percent growth rate to be registered in 2018. The country’s GDP bottomed-out in the second quarter of 2017 at 5.7 percent year-on-year, rising to 6.3 percent in the third quarter, according to the brokerage. “We remain bullish ...

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Bitcoin rival litecoin smashes record, value up astonishing 6,000% this year

Published time: 12 Dec, 2017 12:23 While bitcoin’s 1,700 percent rally seems impressive, there is a cryptocurrency whose value grew much faster this year – litecoin. Read more On Tuesday, litecoin set another record high of $ 255, up an astounding 52 percent in the last 24 hours. On January 1, the virtual currency was worth just above $ 4. ...

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Russia calls economic sanctions one of the worst forms of protectionism

Published time: 12 Dec, 2017 11:30 Russian economy minister has urged the World Trade Organization (WTO) to make global trade free from sanctions. Maksim Oreshkin has called on the trade body to put an end to what he called a “degrading phenomenon.” “We’ve been facing a rise in one of the most aggressive forms of protectionism in recent years. I ...

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Hotel in Russia's Crimea named best in the world

Published time: 12 Dec, 2017 09:49 Russia’s Mriya Resort & Spa in the Crimea has been named the best holiday hotel and resort by the World Travel Awards. The hotel won the award in the world’s leading leisure resort category. Russia’s Aeroflot airline was named the best brand and the city of St. Petersburg best tourist destination. The Mriya Resort ...

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Sri Lanka hands over strategic port to China as part of Belt and Road Initiative

Published time: 12 Dec, 2017 04:54 The Sri Lankan government has formally handed over the southern port of Hambantota to China on a 99-year lease. The $ 1.5 billion port was opened seven years ago and is incurring losses due to lack of commercial activity. Read more Under the $ 1.12 billion deal, signed in July, China Merchants Port Holdings ...

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