Time and money are largely interchangeable terms. - Winston S. Churchill

Finance

The world will not be able to live without oil, demand will grow, OPEC believes

The world will not be able to live without oil, demand will grow, OPEC believes

The organization raised the forecast for oil demand in 2023, as well as expectations from the oil market until 2045. It also named the amount of investment needed in the sector - $12.1 trillion by 2045. The key year for OPEC is 2035. World oil consumption is projected to

Meta is doing very badly: the stock is down 23%

Meta is doing very badly: the stock is down 23%

So far, the stock hasn't broken its intraday drop record: after the February report, the stock was down 26%. But rising costs and weak earnings per user bode well for Zuckerberg. The stock is trading at 2015 levels. Metaverse is not paying off. The development loss of the destination was

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

Experiments are on the air: Burger King will start selling wine

Experiments are on the air: Burger King will start selling wine

According to RBC, in 2023 the Burger King chain will start selling still and sparkling wines at Moscow's Vnukovo Airport as an experiment. The fast-food restaurant has already received all the necessary licenses.

Tesla shares should be perceived as Chinese, Morgan Stanley believes - RBC

Tesla shares should be perceived as Chinese, Morgan Stanley believes - RBC

According to MS analysts, as Tesla receives about half of its income in China, it can be called a derivative of Chinese technology companies. And such dependence will remain until 2030. This makes Tesla dependent on the performance of the Chinese market as a whole. The growth of China's GDP

Will they start producing gas in the Aral Sea?

Will they start producing gas in the Aral Sea?

"Rosgeologiya" has completed exploration in the Aral Sea in Uzbekistan. Manturov noted the potential for the discovery of large gas deposits. The first commercial contract for the provision of services to identify hydrocarbon potential in Uzbekistan holding signed in 2020.

Exports are falling and imports are growing. The Central Bank of Russia has calculated the balance of payments for Q3

Exports are falling and imports are growing. The Central Bank of Russia has calculated the balance of payments for Q3

The value of exports of goods and services rose 5% y/y in Q3 2022 - a lower growth rate than in Q2. The decline in the value of imports slowed to 14% y/y in Q3 2022. The growth rate of exports fell due to the shutdown of Nord

Oil is still needed. BlackRock and Vanguard will continue to invest in fossil fuels

Oil is still needed. BlackRock and Vanguard will continue to invest in fossil fuels

Two of the world's largest asset managers have responded to Britain's environmental goals by saying they will continue to invest in oil, coal and gas. BlackRock, Vanguard and several other investment firms believe that fighting climate change now is impossible. This is understandable: the energy crisis in the EU is

Spanish fashion group Inditex is considering the possibility of transferring Russian assets to partners from a "friendly" country

Spanish fashion group Inditex is considering the possibility of transferring Russian assets to partners from a "friendly" country

Transfer of assets to partners, for example, from South East Asia or Persian Gulf will allow to renew work in the Russian Federation. Kommersant reports that the group has already begun to optimize business in the Russian Federation and close unprofitable facilities.

The Accounts Chamber of the Russian Federation found the forecast of the Ministry of Finance on inflation too optimistic

The Accounts Chamber of the Russian Federation found the forecast of the Ministry of Finance on inflation too optimistic

According to the auditors, the year-end inflation will be higher than the 12.4% forecasted by the Ministry of Finance. The reason: indexation of housing and utilities services and seasonal increase in inflation at the end of the year. And it is true: inflation in fruit and vegetables will rise