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Thursday, 1 September 2016

#Russia Facing Stiff Competition From Middle East Oil

Oil Wars: Can Russia Hold Off Middle Eastern Oil In Eastern Europe

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Russia still has supremacy over Central and Eastern Europe, especially over its crude oil market. However, Middle-East countries like Saudi Arabia, Iraq and Iran, have recently entered this traditional Russian trade because every oil producing country is searching for new markets and bigger market share regardless of the price. Last year, oil from the Saudi Kingdom arrived in Poland for the first time, and in August this year Iranian crude came back to the Polish market after being absent for a couple of years. Hungary, the second biggest export destination for Russian oil in the region, has increased the import of fuel from Iraqi Kurdistan, while Ukraine, the greatest adversary of Russia, is trying to become the gate to Eastern and Central Europe for National Iranian Oil Company. It appears that the energy supply security has increased in the region, but will oil from the Middle East be a […]

"Now we clearly see downside risks to this forecast. We'll probably have stable inflation of 0.2 percent in the euro zone," Holstein said. "And this would clearly raise the pressure on the ECB to unleash more monetary stimulus."

The combined balance sheet of the European Central Bank and the euro zone's 19 national central banks expanded by 17.16 billion euros ($19.15 billion) to 3.33 trillion euros in the week to Aug 26, the ECB said on Tuesday.

The European Central Bank and the Bank of Japan are relying on stimulus packages that include a negative deposit rate to fuel inflation and revive the economy. ECB President Mario Draghi and BOJ Governor Haruhiko Kuroda have both argued that they have the scope to cut rates further below zero if needed, even as the debate about risks and side effects of the policy gains momentum.

In a live interview with MarketWatch, the best-selling author gives advice on how to get rich and what to invest in now.

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Rich Dad’ author Robert Kiyosaki: If you’re investing for the long term, ‘you’re crazy’

Robert Kiyosaki, author of several best-selling books including “Rich Dad Poor Dad,” joined MarketWatch for a live interview on Facebook today.
He offered up insights on making money, becoming an entrepreneur and even touched on politics.
Here are some highlights from the talk, or you can listen to the full interview here.

His advice on how to get rich:

“The rich do not work for money. Most people do not understand that, because they’re taught to go to school and get a job for money. The rich don’t work for money.
And one of the reasons for that is money is no longer money. One of the reasons for that is in 1971, President Nixon took the U.S. Dollar off the gold standard and basically screwed the world. It’s bad for the poor and middle class. As Bernie Sanders said, ‘wealth and income inequality is the greatest moral crisis facing America as well as the world today.’

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