The large-scale privatization, planned by Saudi authorities, is already making the country the most promising direction for investment banks in the developing markets. This opinion was expressed by a Citigroup’s expert. Head of investment banking division of Citigroup bank in the Middle East Omar Iqtidar told to Bloomberg that the transformation plan of the Saudi economy and its move away from...

In late June, financial company Ernst & Young will hold in Sydney an auction to sell approximately 24.5 thousand bitcoins confiscated by law enforcement agencies from the criminals. Meanwhile, the rate of digital currency has grown by more than 10% and hit a 20-month high in the past two days. Now, Bitcoins on the stock exchanges are traded in the region of $ 530 mark. At the end of June,...

France seems to be on the verge of a fuel shortage thanks to protests against labor reform. The protesters blocked work of six of the eight refineries in the country. In the course of operations to unblock a refinery in Fos-sur-Mer, protesters threw various objects at police and burned tires, reported in the local prefecture. In response, police used tear gas and water cannons. According to the...

Once the administration of US President Barack Obama sharply increased import tariffs on steel from China, the investors got very agitated. Chinese commodity market is experiencing a serious crash, yet reaching the bottom still may take a lot of time. The cost of iron ore and steel reinforcement fell by 7% in just one trading day. Experts have long warned China that the overcapacity would...

In 2016, outstanding credit card debt in the US could reach $ 1 trillion. Thus, the debt level is approaching the record plank of 2008 – then, the debt reached $ 1.02 trillion. According to experts, the growth of debt on credit cards indicates stabilization of the economy and increasing consumer confidence. On the other hand, this rate is also influenced by aggressive policy of banks issuing...

Russ Certo of Brean Capital together with Bloomberg experts prepared a comprehensive analysis of the current market risks. Their key takeaways reflect not only increasingly significant decline in the global capital market. They explain why investors are increasingly choosing to move away from risk, leaving central banks deal with each other. Investors withdraw from the capital market due to...

A private clinics scandal, triggered by complaints from affected patients, is flaring up in China. This time, it’s about a cancer patient’s story. The patient is a 21-year-old student, who found one of the hospitals through an internet ad. The advertisement assured that it is "the most advanced method", and recovery guaranteed, so the student had got his treatment for more than 30 thousand...

Rapid development of algorithmic digital currencies (payment systems related to the blockchain technology, primarily Bitcoin) should lead to a tightening of monetary policy of the world central banks. This is stated in a joint review of NBER association by economist David Yermack of Stern business school, and Max Raskin, lawyer from the law school at New York University. The review presents a...

Office of the Food and Drug Administration (FDA) wants to give a new definition of healthy eating, taking into account the changed approach to health and diet. According to current rules, almonds are considered less healthy than, for example, an apple pie. Yet, this view may change in the future. At the request of food manufacturers and congressmen, FDA is revising criteria of "healthy". This...