Business
Israel’s war debt soaring
Israel’s budget deficit has ballooned to a record high amid the conflict with Hamas, Reuters reports
Production of luxury Russian cars begins in UAE
Assembly of Russian executive class of vehicles Aurus has been launched in Dubai, Deputy PM Denis Manturov has announced
French stores mislabeling Israeli products to avoid boycott – media
Lidl supermarkets have come under fire in France for allegedly trying to disguise the origin of products from Israel, local media report
LNG worse for climate than coal – study
Greenhouse emissions from LNG liquefaction and shipment could cause more damage to the environment than burning coal, a US study shows
Russian gas giant announces radical new Asia strategy
Russia wants to establish long-term cooperation in natural gas with Kazakhstan and Uzbekistan, Gazprom has announced
France to force Ukraine to buy its weapons – minister
France wants to sell arms to Ukraine instead of emptying its own arsenals, the French defense minister has said
Oil could hit $120 next year – Fitch Ratings
The oil price shock could weigh on global economic growth in 2024 and push up inflation, Fitch Ratings has warned
Most Americans feel poorer under Biden – FT
Most US voters see President Biden’s policies hurting the country’s economy, a poll cited by the Financial Times shows
Israel-Hamas conflict dents demand for global air travel – data
The unrest in the Middle East has slowed the recovery of air travel worldwide, ForwardKeys data shows
BRICS country imports record amount of Russian oil
Russia shipped 207,000 tons of oil to Brazil last month in a bid to become the country’s top supplier, RIA Novosti reports
Russia’s new business elite reaping benefits from Western exodus – Bloomberg
A new wave of Russian entrepreneurs has made a fortune buying Western assets at hefty discounts
BRICS overtaking G7 in economic might – Bloomberg
The expanded BRICS group and the G7 will have swapped places in relative size by 2040, a Bloomberg analysis shows
Sanctions on Russia’s Arctic LNG project could tighten energy markets – FT
Adding Russia’s Arctic LNG 2 energy project to the US sanctions list is expected to disrupt global energy markets, FT reports
Horseman of the economic apocalypse: Friday’s US debt forecast has shocked traders and bankers
Credit rating agency Moody’s hits the panic button as the US debt outlook takes a dive to ‘negative’
Chainsaw-wielding thieves target ancient Mediterranean olive trees – AP
The global olive oil shortage has led to a spike in thefts of the crop in major producing countries, AP reports
Diamond industry takes radical steps to stem price decline – Bloomberg
The global diamond industry has been forced to take desperate steps amid falling prices and sluggish consumer demand, Bloomberg says