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Turkey repatriates gold from US in bid to ditch dollar

Ankara has decided to bring back all its gold stored in the US Federal Reserve, according to Turkish media. In recent years, Turkey repatriated 220 tons of gold from abroad, and 28.7 tons was brought back from the US last year. Turkey’s gold reserves are estimated at 564 tons and are worth about $ 20 billion, Turkish newspaper Yeni Safak ...

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Disaster looms over Libyan oil

Is General Khalifa Haftar dead or alive? The leader of the Libyan National Army (LNA) disappeared from the public eye earlier this month, and now rumors surrounding his health are beginning to circulate. Some media reports say he is dead, others insist he is alive. If we are to trust a quote by Libyan Express of the French foreign minister, Haftar is alive ...

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Russia won’t halt titanium supplies to US – trade minister

Titanium supplies to the United States won’t be restricted as part of any response by Moscow to the sanctions imposed by the White House, according to Trade Minister Denis Manturov. The minister compared the pointlessness of such a ban with restrictions imposed by the Ukrainian authorities on exports of gas turbines used by Russian shipbuilders as part of sanctions against ...

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German car producers could fall victim to US sanctions against Russian aluminum

Sanctions against top Russian aluminum producers are likely to hit European car production, according to Germany’s WVMetalle, a lobbying group for 655 metals companies. The group says unless actions are taken, many car plants in Germany and Europe will be closed, and others will face supply disruption, Bloomberg reports. Read more “Re-jigging all of those trade flows is really, really ...

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US defense stocks skyrocket thanks to America's adventures in the Middle East – RT's Keiser Report

Lockheed Martin, Northrop Grumman and Raytheon stocks have enjoyed the fruits of the Arab Spring. Since 2011, the shares of US defense contractors have soared by as much as 700 percent, according to RT’s Keiser Report. American global aerospace and defense technology company Northrop Grumman has appreciated sevenfold since 2011, rising from $ 54.82 to $ 357.70 per share. The ...

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Russia demands compensation over US steel & aluminum tariffs

Moscow has sent a request to the World Trade Organization (WTO) to challenge the US decision to levy duties on steel and aluminum imports, according to a Russian statement published by the WTO on Thursday. “Although the United States presented the measures at issue as being adopted to address the threat that imports of steel and aluminum pose to the ...

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Russian economy resilient in face of latest US sanctions – Moody’s

In its latest review of Russia, US-based ratings agency Moody’s said that the country’s strong public and external finances would shield its economy from the impact of the latest US sanctions. The Russian banking system has sufficient earnings capacity to absorb credit losses arising from exposure to the sanctioned companies, Moody’s said. It added, however, that the sanctions will be ...

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Russian aviation exports soar by nearly 50% (PHOTOS)

Exports of Russian-produced aviation equipment surged by 46 percent in 2017 against the previous year, according to the latest report from the trade ministry. At the same time, production level in the sector grew by 12 percent to $ 7.538 billion. In 2017, Russian producers built and sold 133 planes and 213 helicopters, including SSJ-100 passenger planes, the twin-engine, two-seat ...

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Australia’s biggest bank charged fees to dead clients

Commonwealth Bank of Australia (CBA), which is the nation’s largest lender, has collected fees from customers who it knew had died, a major inquiry has heard. The inquiry was ordered by Prime Minister Malcolm Turnbull last year following a series of scandals involving financial misconduct. CBA told the Banking Royal Commission, which is the country’s top form of public hearing, ...

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US debt load ballooning, set to outpace some African countries in 5yrs – IMF

The US debt-to-GDP ratio is projected to jump to 116.9 percent by 2023, leaving behind Italy, according to the International Monetary Fund (IMF). In five years, the American debt burden will also be worse than some countries in Sub-Saharan Africa, such as Mozambique or Burundi. Read more “In the United States, the revised tax code and the two-year budget agreement ...

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