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UK economy to perform worse than Russia’s – IMF

23Jan

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United Kingdom

UK economy to perform worse than Russia’s – IMF

Surging borrowing costs and rising taxes have prompted a sharp growth downgrade © Getty Images/Jason Alden/Bloomberg The British economy will perform worst among the major industrialized nations, the International Monetary Fund has predicted. The UK will be the only G7 member to face a recession in 2023, falling behind the Russian economy, the IMF said in its World Economic Outlook update, published on Tuesday. In its latest report, the IMF again sharply downgraded its forecast for the UK, predicting the economy will contract by 0.6% against the 0.3% growth expected last October. That places the expected performance even lower than sanctions-hit Russia, which is projected to expand by 0.3% after contracting 2.2% in 2022. A UK recession this year...

EU state’s president urges NATO to cross more ‘Russian red lines’

23Jan

By Shoah - The Palestinian HolocaustNo Comments

NATO, Russia

EU state’s president urges NATO to cross more ‘Russian red lines’

Kiev should get Western fighter jets and longer-range missiles, Lithuania’s Gitanas Nauseda has declared FILE PHOTO. Gitanas Nauseda during a summit in Riga. © Gints Ivuskans / AFP Lithuanian President Gitanas Nauseda has called on NATO to escalate its brinkmanship in Ukraine by supplying Western-made fighter jets and long-range missiles to Kiev. Moscow suggested that Nauseda had failed to consider the potential consequences. “I have seen many red lines… that were not drawn by us, democratic states,” the Lithuanian leader said in an interview with LRT television on Tuesday. “The terrorist state of Russia is trying to draw them, using fear and threats.” Nauseda praised previous instances when NATO crossed “Russian red lines”, such as by greenl...

23Jan

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USA

US oil giant posts monster profit

Exxon’s 2022 earnings set a historic high for the Western oil industry © Getty Images / Mario Tama US oil major ExxonMobil earned $55.7 billion in profits last year, the company disclosed on Tuesday. The figure was a new high for Exxon, whose previous record was $45.2 billion in 2008, when a barrel of oil cost close to $150 – some 30% higher on average than in 2022. According to company CEO Darren Woods, profits soared on the back of recovering post-Covid-19 demand amid energy supply constraints. “While our results clearly benefited from a favorable market, the counter-cyclical investments we made before and during the pandemic provided the energy and products people needed as economies began recovering and supplies became tight. We leaned in when others leaned o...

Turkish peace efforts in Ukraine deserve Nobel Prize – Hungarian FM

23Jan

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Turkey, Ukraine

Turkish peace efforts in Ukraine deserve Nobel Prize – Hungarian FM

Recep Tayyip Erdogan deserves the award for his efforts to negotiate a resolution to the conflict, Peter Szijjarto said Recep Tayyip Erdogan waves to the crowd during a welcome ceremony in Sarajevo, Bosnia, September 6, 2022 © AP / Armin Durgut Hungarian Foreign Minister Peter Szijjarto has declared that Turkish President Recep Tayyip Erdogan should be considered for a Nobel Peace Prize for his efforts to broker an end to the hostilities in Ukraine Speaking at a press conference with Turkish Foreign Minister Mevlut Cavusoglu on Tuesday, Szijjarto praised Erdogan’s role in negotiating the Black Sea grain deal, and his hosting of ultimately fruitless peace talks between Moscow and Kiev last year. “Anyone who talks about peace is immediately presented as an al...

23Jan

By Shoah - The Palestinian HolocaustNo Comments

France, Russia

Russian Navy rescues French national

The man was stranded alongside his dog in the Atlantic Ocean after his yacht sustained damage Russian Navy frigate Admiral Gorshkov leaves for patrol on January 4, 2023. © Sputnik / Pavel lvov A French national in distress was rescued by the Russian tanker ‘Kama’ in the Atlantic Ocean, the country’s defense ministry said on Tuesday. A Russian naval detachment, led by frigate Admiral Gorshkov, was on a patrol mission when it received a distress call from a small vessel, the military revealed. Tanker ‘Kama’ was dispatched immediately to investigate the call, deviated from its route, discovered the damaged yacht and boarded it. The crew took aboard “one man, his dog and their personal belongings,” the military statement read. The rescued man turned o...

China lashes out at NATO country’s newly elected leader

23Jan

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China, NATO

China lashes out at NATO country’s newly elected leader

Beijing has accused the next Czech president, Petr Pavel, of meddling in its affairs after his Taiwan phone call Chinese Foreign Ministry spokeswoman Mao Ning. © AP Photo / Liu Zheng Beijing has slammed Czech President-elect and former NATO general Petr Pavel for a phone call with Taiwanese President Tsai Ing-wen. Chinese Foreign Ministry spokeswoman Mao Ning stated on Tuesday that the conversation was “a serious interference in China’s internal affairs.” “This is a blatant violation of the Czech Republic’s political commitment to the one-China principle and sends a wrong signal to the ‘Taiwan independence’ separatist forces,” Mao said at a regular press briefing. She added that Prague held the call on Monday “despite China’s repeated dissuasion...

Ukrainian intelligence chief threatens attacks on Russia

22Jan

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Russia, Ukraine

Ukrainian intelligence chief threatens attacks on Russia

Kirill Budanov refused, however, to take responsibility for previous strikes on the Crimea Bridge and airfields inside Russia Chief of the Defence Intelligence of Ukraine, Major-General Kirill Budanov. © Gian Marco Benedetto/Anadolu Agency via Getty Images Russia will continue to experience “problems” until it withdraws from Ukraine and restores its territorial integrity, Kiev’s top intelligence official, Kirill Budanov, warned in an interview with the Washington Post on Tuesday. The Ukrainian Intelligence Directorate (GUR) chief said that Kiev currently had people who were planting explosives on the territory of Russia, hinting at a potential string of terrorist attacks in the country in the near future. Asked about his involvement in the attack ...

22Jan

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Poland, Ukraine

Warsaw comments on F16s for Ukraine

Poland is not going to give Kiev the fighter jets, a deputy defense minister has said FILE PHOTO. A F-16 plane belonging to the Polish Air Forces. © Orhan Akkanat/Anadolu Agency/Getty Images Poland is not planning to supply Ukraine with US-made F16 fighter jets, Deputy Defense Minister Wojciech Skurkiewicz has said. His remarks came just a day after Prime Minister Mateusz Morawiecki said Warsaw could donate the aircraft provided that it is done as part of a concerted effort involving other NATO nations. On Tuesday, Pawel Krutul, a Polish MP and the vice-chairman of the Parliamentary National Defense Committee, posted a tweet saying that “if the Ministry of National Defense hands over F16 fighters to Ukraine instead of R...

Oil price cap will not make a dent in Russia’s revenues – IMF

22Jan

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Russia

Oil price cap will not make a dent in Russia’s revenues – IMF

Moscow has rerouted crude shipments to Asian markets at the expense of Western economies © Getty Images/Monty Rakusen The price ceiling on Russian oil set by the Group of Seven (G7) countries, the European Union and Australia will not affect the country’s crude exports, media reported on Monday, citing an IMF forecast. The price cap on Russian seaborne oil exports of $60 per barrel was introduced on December 5. It bans Western companies from providing insurance, and other services to shipments of Russian oil unless the cargo is purchased at or below the set price. Prior to the price cap being adopted, the EU placed a separate embargo on Russian seaborne oil exports. “It is expected that with the current oil price cap set by the G7, Russian crude oil exports will...

White House reveals Covid emergency plan

22Jan

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Haiti, USA

White House reveals Covid emergency plan

The US president responded to a push in Congress by offering an expiration date FILE PHOTO: President Joe Biden receives his Covid-19 booster from a member of the White House medical unit, October 25, 2022 © AP / Evan Vucci The White House announced on Monday that it wants to end the Covid-19 national emergency by May 11, though that would entail extending it first. The plan comes after Republicans in the House of Representatives announced a vote on ending the emergency, and as the World Health Organization said the public health restrictions ought to continue in some form. The current national emergency declaration is set to expire on March 1, while the public health emergency (PHE) runs out on April 11. President Joe Biden intends to “extend the emergen...