Money Talks

Oil prices are rising again, as US reserves unexpectedly fell last week. It shows that consumers and businesses in the world's largest economy are using more oil than companies are able to buy. Data from the American Petroleum Institute showed crude stocks declined by more than four million barrels for the week ending March the 18th. That follows a ban on Russian crude shipments imposed by Washington earlier this month, over its attack on Ukraine.

Han Tan joined us live during the programme. He's the chief market analyst at the Exinity Group in Abu Dhabi.

#OilPrices #USReserves #Russia

EU member states plan to begin buying liquefied natural gas cargoes, jointly as a bloc, instead of as individual countries. Following a formal deal signing later this week, the bloc will outline rules for the collective purchases, which aim to end reliance on Russian suppliers. The bloc is also discussing a ban on Russian oil imports, following similar restrictions by the US and the UK.

CMarkits CEO, Yousef Alshammari joined us for details.

#RussiaAttacksUkraine #LiquifiedNaturalGas #EuropeanUnion

Switching to an energy source that is not limited, Turkish utility provider, Enerjisa is helping football club Galatasaray turn its stadium into a solar power plant. And when the game is not on, the stadium could power as many as 2,000 homes. Tayyibe Aydin reports from the field.

#SolarPower #Galatasaray #Enerjisa

EU member states plan to begin buying liquefied natural gas cargoes, jointly as a bloc, instead of as individual countries. Following a formal deal signing later this week, the bloc will outline rules for the collective purchases, which aim to end reliance on Russian suppliers. The bloc is also discussing a ban on Russian oil imports, following similar restrictions by the US and the UK. Naeem Aslam, chief market analyst at Ava-Trade in London, explains how difficult it would be for Europe to find adequate alternative energy sources.

#RussiaAttacksUkraine #LiquifiedNaturalGas #EuropeanUnion

Oil prices spiked more than 3% as the European Union mulls a potential ban on Russian crude shipments, as a consequence for its attacks in Ukraine. Markets are also rattled after Houthi rebels carried out missile strikes on oil facilities in Saudi Arabia. As Paolo Montecillo reports, consumers around the world are feeling the pinch.

#RussiaOilTrade #EUSanctions #OilPrices

The European Union is considering an embargo on oil from Russia, amid Moscow's continuing attack on Ukraine. Foreign ministers from the bloc are discussing the proposal on Monday, ahead of a summit by NATO and G7 nations. If the measure is approved, the EU would be joining the US and the UK in banning Russian oil, which is among Moscow's biggest sources of income.

Vicky Pryce, a board member at the Centre for Economics and Business Research joined us fore more.

#RussiaAttacksUkraine #RussianOil #EuropeanUnion

Inflation has been the story of the week, with central banks around the world finally making moves to rein in soaring price levels. The US Federal Reserve announced its first rate hike since 2018, raising the interest rate by a quarter of a percentage point. US consumer prices in February rose by their fastest rate since 1982. In response, the US central bank to take drastic action, with chair Jerome Powell saying he expects to raise rates six more times this year.

#Inflation #InterestRates #USFederalReserve

Hailed by many as the the future of the internet, Web 3.0 is attracting attention and investments from the likes of Microsoft. In its latest funding round, blockchain technology startup, Consensys has raised $450M from the software giant, and from the Japanese investment fund Softbank and Singapore's Temasek. The money will go towards developing mobile wallets, decentralised business platforms and other tools that aim to give users more control over data.

#Web3.0 #DecentralisedInternet #FutureofInternet

Who is on the winning and losing ends of China's economic problems?

China's latest lockdowns have led to the closure of factories that make products for some of the world's biggest companies. Tesla was forced to suspend production at its so-called giga-factory in Shanghai this week. iPhone-maker Apple also faces a shortage of gadgets after supplier Foxconn was forced to hit pause at its factory in Shenzhen.

Those supply-chain bottlenecks are expected to add to inflationary pressures that have made consumer goods more expensive. But a slowdown in the world's second-largest economy is also relieving some pressure on household and corporate budgets.

#ChinaLockdown #WinnersLosers #FactoryClosures

Beijing's anti-COVID-19 playbook has stayed unchanged throughout the pandemic. Clusters of infections are still met with strict lockdowns and mass testing. That strategy is now facing its toughest test, with China in the midst of its worst outbreak since the initial wave more than two years ago. And under the sweeping restrictions, the world's second-largest economy is feeling the strain. Paolo Montecillo has more.

#ChinaLockdown #CoronavirusRestrictions #EconomicImpact