Author: MD Editors

By: Ahmed Abdu-Almalik Alansi, Yemeni journalist The National Salvation Government (NSG) of Sana’a, the capital of Yemen, is starting the process of maintaining FSO Safer tank of oil with cooperation of United Nations. To knowing that FSO Safer is a floating oil tank and offloading vessel that is moored in the Red Sea north of Al Hudaydah City, in Yemen. Along five years ago, there were many discussions about maintaining and repairing FSO Safer tank between UN and NSG, because FSO Safer was existing as an oiled bomb that threatening marine environment in the Red Sea. And UNEP reports said…

The Palm Jebel Ali was cancelled amid the 2008 credit crisis, leaving hundreds of investors in limbo Dubai’s ruler has approved a new development plan for the largest of the city’s famous palm-shaped artificial islands, the Palm Jebel Ali project, which was put on hold in the aftermath of the 2008 financial crisis. Part of the Dubai 2040 Urban Master Plan, Palm Jebel Ali will feature over 80 hotels and resorts, providing approximately 35,000 families with luxury beachside living. It is estimated to add 110 kilometers (68.35 miles) to the emirate’s coastline, according to media reports. “Palm Jebel Ali will…

Refinery maintenance and a surge in domestic demand cut into volumes available for export Shipments of Russian seaborne diesel and gasoil dropped by 21% in May in monthly terms due to seasonal maintenance at the country’s refineries and a surge in domestic demand, tracking data from Refinitiv Eikon showed on Friday. In May, about 5 million tons of refinery capacity stood idle, which is more than the 4.5 million tons that had been planned. The reason for the reduced refinery runs is that maintenance at several refineries has taken longer than previously expected, according to Reuters. The EU embargo on…

Oil prices fell, in trading today, Tuesday, with investors exercising caution in light of assessing the vision of supply and demand after the decision of the “OPEC +” group. And by 09:25 Moscow time, US West Texas Intermediate crude futures fell by 0.87%, to $71.52 a barrel. While Brent crude futures fell by 0.77% to $76.12 a barrel, according to Bloomberg agency data. The decline came after a rise in the prices of black gold yesterday, after the decision of the “OPEC +” group to make additional cuts starting from next year, Russia’s extension of voluntary cuts, and Saudi Arabia’s…

The World Bank drew its forecasts for the performance of the Russian economy for the years 2023 and 2024, and the bank expects the Russian economy to grow next year by 1.2%, after a decline of 0.2% in the current year. According to the International Organization’s report on global economic prospects, Russia’s gross domestic product is expected to decline in real terms in 2023 by 0.2%, and in 2024 to grow by 1.2%. For 2025, the World Bank expects Russia’s GDP to grow by 0.8%. The World Bank’s expectations for the dynamism of the Russian economy are in line with…

El Salvador’s adoption of Bitcoin as a legal tender has caused concern among American lawmakers, who are calling for a risk report on the potential impact on bilateral economic relations and law enforcement cooperation. Last month, US Senators Jim Risch and Bob Menendez reintroduced a bipartisan bill requesting a State Department report on El Salvador’s Bitcoin adoption. The bill, dubbed the Accountability for Cryptocurrency in El Salvador (ACES) Act, was initially introduced in February last year. American lawmakers want an analysis of El Salvador’s adoption of Bitcoin and the risks for cybersecurity, economic stability, and democratic governance in the country.…

The price of XRP has risen by 2% in the past 24 hours, with its ascent to $0.536380 coming as the cryptocurrency market as a whole dips by 1%. XRP has now gained by 11% in the past week, while it has also jumped by 15.5% in the last 30 days, as anticipation mounts regarding Ripple’s legal tussle with the SEC. And with the altcoin already having increased in price by 57% since the beginning of the year, analysts are increasingly coming to suggest that it could end up outperforming Bitcoin (BTC) and other major cryptocurrencies this year. This will…

The price of Bitcoin has experienced a decline of 4.50% in the last seven days as mixed market sentiment continues to impact its performance. Bitcoin, the leading cryptocurrency, has faced a challenging period as investors grapple with conflicting views and uncertainties in the market. This recent drop in Bitcoin’s value highlights the volatility and sensitivity of the cryptocurrency to various factors affecting the overall sentiment in the market. Bitcoin Price Prediction Bitcoin is presently experiencing strong support near the $26,750 level, which is strengthened by a triple bottom pattern, suggesting a possible bullish reversal.  Furthermore, the hourly timeframe reveals a trend…

The United States might fall into a mild recession in the second half of 2023 and the first quarter of 2024, Bank of America CEO Brian Moynihan said in an interview on CBS News channel on Sunday. “So the last time I was here was the end of last year and we predicted a recession this year. We moved it out. It’s basically third quarter this year, fourth quarter, this year into first quarter, a mild recession. And unemployment gets up in high 4% range, still very low by historical norms,” he said. In May, Federal Reserve Chairman Jerome Powell said that…

Deutsche Bank has issued a warning that a cycle of economic expansion and contraction will occur this year, leading to an imminent wave of defaults in corporate debt, particularly in the US and Europe. According to the Bank’s recently published annual study, company defaults will become more frequent compared to the past two decades. Deutsche Bank anticipates that default rates will reach their highest point in the fourth quarter of 2024. The bank’s projections indicate peak default rates of 9% for high-yield debt in the US, 11.3% for US loans, 4.4% for high-yield bonds in Europe, and 7.3% for European…