Amid scenes of panic across India, following PM Modi’s shock decision to withdraw high-value bills in the middle of the sowing and wedding season, Reuters reports the move, aimed at cracking down on the shadow economy, has brought India’s cash economy to a virtual standstill. With over 90% of all transactions done in cash, money…
Saudi Arabia’s governing economic body called the Council of Economic and Development Affairs (CEDA) has cancelled $266.7 billion in projects, the Saudi Press Agency said, and announced it would be settling much-delayed private-sector payments by year end. The projects that have been canceled are the ones that are not expected to accelerate the kingdom’s growth…
Major changes are brewing in Saudi Arabia, and there is no way to stop them if the kingdom’s economy is to survive the oil price rout. This is what has become painfully clear after last week, Deputy Economy Minister Mohammad Al Tuwaijri slammed the country’s bureaucracy for being lazy and inefficient, stressing that the economy…
During most of the past two decades Washington has aggressively launched military and economic wars against at least nine countries, either directly or through its military aid to regional allies and proxies. US air and ground troops have bombed or invaded Afghanistan, Iraq, Pakistan, Libya, Somalia, Syria, Yemen and Lebanon. More recently Washington has escalated…
Moody’s ratings agency cut Turkey’s sovereign credit rating to junk thus concluding its post-coup review. Late Friday the agency cut Turkey’s long term issuer and senior unsecured bond ratings to non-investment grade Ba1 from Baa3. The downgrade accounted for “the risks related to the country’s sizeable external funding requirements and the weakening in previously supportive…
“The wolves of Tel Aviv” is the headline on the Times of Israel—an article published by the Jerusalem-based newspaper which openly admits that Israel is the center of the world’s “binary options” fraud scam—a practice so illegal that the US has outlawed it. The Israeli binary options “industry” specifically targets non-Jews in Europe, Africa, and…
