Commodities
Do you know that May 22 is also known as “Bitcoin Pizza Day”? It was the date where Laszlo Hanyecz, a programmer, successfully traded his 10,000 units of digital currency bitcoin (BTC) for 2 Papa John’s pizzas. He posted on a bitcoin forum page – “I just want to report that I successfully traded 10,000 […]
... written on May 23 2017Facing the inevitable, Hong Kong’s Cathay Pacific Airways has finally executed the last thing every employee wants – retrenchment. Close to 600 jobs, its biggest in 20 years, are to be cut thanks to a combination of complacency, arrogance and mismanagement. Under the excuse of “challenging business environment”, the airline announced the humiliating restructuring. […]
... written on May 22 2017Oil has recovered slightly after the black gold hit US$44 a barrel last week – the lowest since August 2016. The sudden plunge on 5th May, however, had momentarily thrown OPEC into disarray and chaos. Saudi energy minister Khalid Al-Falih was forced to calm the market with an early warning that it is almost a […]
... written on May 13 2017OPEC’s strategy has not worked. Saudi Arabia is having cold sweat now. Crude oil price is hitting the lowest for the year 2017, just 2 bucks away from US$42 a barrel. Earlier, we wrote that for the second time for the year, the U.S. crude had broken below US$48 a barrel. The price is currently […]
... written on May 05 2017Two months ago, we were presented with a chance to witness oil price going down to US$42 a barrel, or lower. The more than 5% plunge on that Wednesday saw the price trading at its lowest for the year 2017 – from a high of US$52.92 to a low of US$50.05 – after the Energy […]
... written on May 03 2017Muslim countries, especially those that subscribe to Saudi Arabia’s Wahhabism, broadcasted and printed a piece of great news over the weekend. King Salman issued a royal decree restoring “all allowances, financial benefits, and bonuses” for civil servants and military personnel on Saturday. Saudi claimed it was due to a recovery in oil prices and internal […]
... written on Apr 25 2017At a Sotheby’s auction Tuesday in Hong Kong, a mind-boggling 59.6 carat diamond – “Pink Star” – sold for US$71.2 million, a new world record for any diamond or jewel. The sale comes 3 years after the stone was sold at an even higher price at another Sotheby’s auction in Geneva. However, that deal later didn’t materialize […]
... written on Apr 05 2017Wahhabism is the main source of global terrorism, as identified by the European Parliament in July 2013. Wahhabism is so influential because Saudi Arabia sponsors the religious movement. Besides free flow of money, Muslims were easily influenced largely due to Saudi’s status as the custodian of the Two Holy Mosques in Mecca and Medina. […]
... written on Mar 14 2017Oil price is now at its lowest for the year 2017. The more than 5% plunge on Wednesday was the final nail in the coffin for speculators. There were high volume of trading, suggesting the speculators holding to their bullish positions were selling all out. According to John Kilduff, founding partner at energy hedge fund […]
... written on Mar 10 2017Will crude oil prices rise above US$60 a barrel this year? It’s not too much to ask considering the black gold once traded around US$120 a barrel in 2014. Before we could even think of US$60 price tag, the Brent has to breach US$58 first. So far, it hasn’t been able to do so. Analysts […]
... written on Mar 06 2017
