The IMF’s latest report reveals that Equatorial Guinea, OPEC’s smallest member in terms of capacity, faces a looming recession, with the economy expected to contract by 7.8% in 2023 due to declining oil production and a sluggish non-oil sector.
Traders aren’t anticipating a significant price reaction; the key factor is escalation. Attention is also on shipping routes and the response from the US.
The observatory issued a No. 8 storm signal just before midnight, and Typhoon Koinu is expected to be at its closest to the city on Sunday night.
Wall Street Anticipates the S&P 500 Companies to Experience the Lowest Profit Decline in a Year
Fierce confrontations persisted in southern Israel for nearly 36 hours following the infiltration of Iran-backed fighters from Gaza, igniting a conflict.
The strained relationship between US President Joe Biden and Saudi Crown Prince Muhammed Bin Salman has pushed Saudi Arabia closer to China, resulting in increased economic ties and a significant China-brokered agreement between Saudi Arabia and Iran. Despite challenges, President Biden’s nuanced approach in the Middle East aims to improve relations with key players while navigating complex regional dynamics.
Azerbaijan’s swift military operation in Karabakh has ended decades of separatist activities, sparking tentative peace talks with Armenia, but the contentious Zangezur corridor remains a potential flashpoint for renewed conflict. The outcome of this geopolitical struggle may not only reshape the South Caucasus but also influence similar frozen conflicts in neighboring Georgia and Moldova, as regional dynamics evolve amid shifting alliances and military capabilities.