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20 февраля, 17:00

The Week's Key Economic And Financial Events

In this holiday-shortened week, attention will be on the US FOMC minutes, housing data and consumer confidence. There will be GDP, PMI and inflation releases across the Euro Area as well as the latest Greek Eurogroup meeting. Look for GDP and public finances data in the UK. In emerging markets, there are monetary policy meetings in Brazil, Colombia, Korea and Kazakhstan. Watch Fed minutes for more clarity on March FOMC The minutes of the February 1st FOMC meeting are likely to reveal that Fed officials have become increasingly constructive on the outlook for the economy. There will likely be a mention of the meaningful improvement in business and consumer sentiment surveys. The FOMC is also expected to note that the labor market is likely close to full employment and that signs of underutilization have diminished. Finally, there could be some mentions of concern over "external" developments. Any discussion about the Fed's balance sheet should also garner interest: recent comments from Fed officials suggest there being an increasing debate about the future of the Fed's balance sheet. Eurogroup meets on Greek economic adjustment program Grexit is back, though as a tail risk. If all three sides insist on their red lines, the logical outcome would be Grexit. While this would likely not be in the political interest of either Greece or the creditors, markets could become nervous as we approach the July maturities (€6bn excluding bills). There is also a high risk of a snap election which initially could be market negative, but ultimately lead to a more stable government. The week ahead in Emerging Markets There will be monetary policy meetings in Brazil, Colombia, Korea and Kazakhstan. Brazil’s BCB is expected to cut the Selic rate by 75bp. In other data In the US, focus is largely on the Feb FOMC Minutes. Also due are home sales data along with a wide range of Fed speakers currently on schedule. In the Eurozone, meaningful releases include consumer confidence and PMIs. In the UK, data about public sector finances and GDP is on deck. In Japan, the main data releases include trade balance and PMIs In Australia, we get RBA minutes for February along with wage price index and construction data. Nothing major due from New Zealand. A daily breakdown of key events from Deutsche Bank: To this week’s calendar now. With the US on holiday for President’s Day (and markets subsequently closed) the data this morning is reserved for Europe where we’ll get PPI in Germany and CBI selling prices data in the UK. Euro area consumer confidence data will also be released. Kicking things off on Tuesday will be Japan where we get the flash February manufacturing PMI. It’ll be all about the PMI’s in the European session too with flash manufacturing, services and composite readings all due. We’ll also get CPI in France and public sector net borrowing data in the UK. In the US we’ll also get the three flash PMI readings. In the Asia session on Wednesday the lone data release is property prices data in China. Over in Germany we’ve got the IFO survey results for February as well as preliminary Q4 GDP for the UK, along with the various growth components. The final January CPI figures for the Euro area will also be watched. In the US on Wednesday the lone data is January existing home sales, while we’ll also get the FOMC minutes from the January meeting. Thursday kicks off with more GDP data, this time the final January report in Germany while we’ll also get confidence indicators out of France. In the US data due includes initial jobless claims, FHFA house price index and Kansas City Fed’s manufacturing survey. There’s nothing of note in Europe on Friday while in the US we’ll get new home sales and the University of Michigan consumer sentiment reading. Away from the data the Fedspeak this week consists of Kashkari, Harker and Williams on Tuesday, Powell on Wednesday and Lockhart on Thursday. Another focus for markets will be today’s Eurogroup meeting where finance ministers are due to discuss Greece’s bailout situation. Also of note today is the House of Lords commencing a two-day debate on the draft law passed in the House of Commons with a vote due on Tuesday. BoE Governor Carney is also due to testify before UK Parliament on Tuesday. A tabular summary of key events courtesy of SocGen Finally, here is commentary from Goldman of all key US events, together with consensus estimates: Monday, February 20 President's Day. US markets are closed. Tuesday, February 21 08:50 AM Minneapolis Fed President Kashkari (FOMC voter) speaks:Minneapolis Fed President Neel Kashkari will give a speech on the US economy and the role of the Federal Reserve to the Financial Planning Association of Minnesota in Golden Valley, Minnesota. Audience Q&A is expected. 09:45 AM Markit Flash US Manufacturing PMI, February preliminary (consensus 55.2, last 55.0) 09:45 AM Markit Flash US Services PMI, February preliminary (consensus 55.8, last 55.6) 12:00 PM Philadelphia Fed President Harker (FOMC voter) speaks: Philadelphia Fed President Patrick Harker will give a speech on the economic outlook at the Wharton School of the University of Pennsylvania. Audience and media Q&A is expected. 03:30 PM San Francisco Fed President Williams (FOMC non-voter) speaks: San Francisco Fed President John Williams will give a presentation on economics to students at Boise State University. Wednesday, February 22 10:00 AM Existing home sales, January (GS +2.0%, consensus +0.9%, last -2.8%): We look for a 2.0% rebound in January existing homes sales, following last month’s 2.8% decline. Regional housing data released so far suggest sequential improvement in closed homes sales, consistent with the 1.6% rise in December pending homes sales (which represent contract signings). Existing homes sales annual revisions are also scheduled to be released. Existing home sales are an input into the brokers' commissions component of residential investment in the GDP report. 01:00 PM Fed Governor Powell (FOMC voter) speaks: Federal Reserve Governor Jerome Powell will give a speech on the economic outlook and monetary policy at the Forecaster’s Club of New York’s luncheon at the Cornell Club in New York. Audience Q&A is expected. 02:00 PM FOMC Minutes from the January 31-February 1 meeting: The FOMC kept policy rates unchanged at its January meeting and made few revisions to its statement, which described the economy as expanding “at a moderate pace” and characterized job growth as “solid.” In the minutes, we will look for any hints about the timing of the next hike as well as any comments about the FOMC’s evolving expectations for fiscal policy under the new administration. Thursday, February 23 08:30 AM Initial jobless claims, week ended February 18 (GS 240k, consensus 241k, last 239k); Continuing jobless claims, week ended February 11 (consensus 2,065k, last 2,076k): We expect initial jobless claims to edge up by 1k to 240k. The ongoing improvement in jobless claims provides additional evidence of underlying improvement in the pace of layoffs, and we also note the year-to-date improvement in several energy-producing states. Accordingly, we expect the pace of layoffs to remain low. 09:00 AM FHFA house price index, December (last +0.5%): The FHFA house price index has a wider geographic coverage than the S&P/Case-Shiller home price index, but is based only on properties financed with conforming mortgages. On a year-over-year basis, FHFA home prices rose at a 6.1% pace in November. 11:00 AM Kansas City Fed manufacturing index, February (last +9) Friday, February 24 08:35 AM Atlanta Fed President Lockhart (FOMC non-voter) speaks: Atlanta Federal President Dennis Lockhart will speak on his tenure at the Fed during the bank’s 2017 Banking Outlook Conference. President Lockhart will be officially leaving his post on February 28. 10:00 AM New home sales, January (GS +9.5%, consensus +6.5%, last -10.4%): We expect new home sales to rebound 9.5% in January, mostly reversing a 10.4% drop last month that we believe was partially driven by unseasonably high snowfall in the Midwest. We expect a favorable fundamental backdrop and the elevated level of single-family building permits to mitigate the negative impact of higher mortgage rates on new homes sales activity. 10:00 AM University of Michigan consumer sentiment, February final (GS 96.2, consensus 96.0, last 95.7): We expect the University of Michigan consumer sentiment index to rebound 0.5pt to 96.2 in the February final estimate, reflecting improvement among more timely measures of consumer confidence as well as the favorable stock market performance over the last two weeks. The University of Michigan’s survey of 5- to 10-year ahead inflation expectations fell 0.1pp to 2.5% in the preliminary February reading but remains above the record low of 2.3% in December. We expect this measure to remain stable or edge up in the final reading. Source: BofA, DB, SocGen, GS

20 февраля, 09:55

Khorgos: The New Silk Road's Central Station Comes To Life

Less than five years ago Khorgos wasn't anything but 5,000 hectares of sand dunes and a dream. Now, this bi-national "New Silk Road" development area that is rising up on both sides of the China / Kazakhstan border has come alive.

20 февраля, 09:30

Қазақстанға жиі келетін атағы жер жарған әлемдік жұлдыздар кімдер?

Атағы әлемге жайылған шоу-бизнес жұлдыздары Қазақстанға да жиі ат басын бұрып тұрады, алайда олар жеке отырыстарда өнер көрсеткенді құп көреді. Көңілді кештің көркі болу үшін алыстан ат терлетіп келген олардың ақылары да арзан емес. Кейбір деректер бойынша олардың табысы 1 миллион доллардан басталады. Сонымен, Қазақстанға келген әйгілі жұлдыздар кімдер? Дженнифер Лопес Атақты америкалық әнші, актриса Дженнифер Лопес танымал тұлғалардың шақыртуымен 2010 жылы  Rixos қонақ үйінде жиналған қонақтардың алдында өнер көрсетті. Бритни Спирс  Фото: peoples.ru Әйгілі әнші Бритни Спирс те аталған қонақ үйде өткен кешке арнайы келген. Канье Уэст Фото: almaty.zagranitsa.com 2013 жылы американдық рэпер Канье Уэст Нұрсұлтан Назарбаевтың немересі Айсұлтанның үйлену тойына қатысты. Салтанатты кеш Royal Tulip Almaty қонақ үйінде өтті. Шетелдік tmz.com сайтының хабарлауынша, рэпер Канье Уэст өнер көрсеткені үшін рекордттық 3 миллион доллар көлемінде ақы алған.  Уильям Адамс Фото: buro247.kz 2013 жылы Алматыдағы The Ritz-Carlton қонақ үйінің ашылу салтанаты өтті. Атақты The Black Eyed Peas тобының мүшесі Уильям Адамс дәл сол шараға қатысу үшін арнайы ұшып келді. Әнші халық арасында Will.i.am лақап атымен танымал. Puff Daddy Фото: almaty.zagranitsa.com Американдық рэпер Puff Daddy Қазақстанға бір емес бірнеше рет келген. 2011 жылы желтоқсан айында ол Алматыға Donatello Almaty деп аталатын жаңа киім дүкенінің ашылу салтанатына қатысты. Фото: caravan.kz Астана күні  әр жыл сайын атағы жер жарған әншілерсіз өтпейді. Ne-Yo, Akon, Nicole Scherzinger сынды жұлдыздар жиі -жиі елорда қонағы болып кетіп жүр. Фото: L'Officiel Kazakhstan Алдағы ЭКСПО көрмесіне L'Officiel Kazakhstan журналының хабарлауынша Рианна мен Шакира келіп қайтпақ. Тағы оқыңыздар: Жарты әлемді мойындатқан Димаштың бала кезіндегі сұхбаты елді сүйсінтті (видео) Кәсібін жұмыртқа сатудан бастаған бүлдіршін 8 жасында миллионер атанды (фото) Белгілі шоумен қырғыз бен қазақ тойларының ерекшелігін айтты Бокс маманы: Мұндай жекпе-жек Исламға ештеңе бермейді Алматыда наурызда +17 градусқа дейін күн жылынады  

14 февраля, 17:32

Simon Reeve's trip of a lifetime: 'I was on a high for weeks after my adventure'

Travel author and broadcaster Simon Reeve reveals how a trip to Central Asia changed his life foreverThe 4WD slid down a steep, dusty track and crawled slowly around a precarious, towering boulder the size of a block of flats. We stopped on a gravel precipice, hopped out, and my jaw dropped as I stared into a vast, deep canyon that stretched miles in each direction and was coloured warm rust and golden by the setting sun.For me, it was a moment of transformation. I was standing on the edge of the extraordinary, little-known Sharyn Canyon in eastern Kazakhstan, which rivals the Grand Canyon for grandeur and natural beauty, while travelling through Central Asia for my first TV series, called Meet the Stans. The journey also took me to Kyrgyzstan, Tajikistan and Uzbekistan. Continue reading...

14 февраля, 15:19

Foreign airlines saw a modest rise in the number of Russian travelers

Foreign airlines are recovering positions on the Russian market that were lost after the economic crisis and imposition of economic sanctions. Air France-KLM and the Lufthansa Group recorded passenger flow increases, as well as growth in the number of flights. Air France-KLM saw a slight increase in the number of passengers departing Russia in 2016, which was helped by additional demand and fleet changes during the year, said Yoram Franzen, commercial director at Air France-KLM for Russia and the CIS. "The stabilizing of the rublе in 2016 contributed to better year over year demand and later slight increase in demand in the Russian air travel market, although differences exist between destination flows (Europe, North America, etc)," said Franzen. On the wings of success: Russian female pilots soar above gender barriers In 2016, Lufthansa Group's passenger flows demonstrated a positive dynamic in comparison with 2015, said Axel Hilgers, the group's director for the Russian Federation & CIS. Passenger flows and the number of flights increased in all directions serviced by the Lufthansa Group. "The growth is rather moderate, yet the movement is upwards," added Hilgers. Low cost Flydubai told (in Russian) Kommersant that in 2016 it increased passenger flows to Russia by three percent over 2015. CIS routes see growth Despite the good news, it’s still too early to speak of a general trend, market experts say. "We can't say that foreign companies are transporting more people in the direction of Russia," said Yulia Domracheva, a spokesperson for Aviasales, Russia's largest ticket search service. The market share of foreign airlines flying to Russia in 2016 and the beginning of 2017 has not changed in comparison with the same period last year. However, the market share of foreign airlines increased in other directions, said Aviasales. In 2016 the market share of foreign airlines flying to Moldavia grew from 40 percent early in the year to 60 percent by the summer, and currently holds at 50 percent. Kazakhstan is showing a positive dynamic, from 38 percent in early 2016 to 45 percent in January. Overall, the market share of foreign airlines servicing CIS countries, Uzbekistan in particular, increased from 40 percent to 60 percent in that same period. Russian airlines are also showing strong growth rates. In January, passenger flows on Russian airlines grew by 23.6 percent compared to the previous year, said Alexander Neradko, head of Rosaviation, during a press conference at the NAIS-2017 industry exhibition. On international routes the number of passengers increased 25 percent to 2.5 million people, and on domestic routes by more than 22 percent to 4.3 million people. Meanwhile, Aeroflot, Sibir, Utair and other top 20 Russian airlines saw growth of more than 40 percent last month. Russian companies' passenger figures had been falling for most of 2016. Only in October, when passenger flows increased by four percent, did the market begin to rebound. Read more: A low-cost Kaliningrad airline plans to offer flights to Europe>>>

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14 февраля, 13:38

Syrian state media says talks should focus on terrorism

A Syrian state-owned newspaper says talks with the opposition in Kazakhstan will not be “fruitful” unless they are focused on fighting terrorism.

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14 февраля, 08:05

Syria rebels cast doubt on attending Kazakhstan talks

Accusing Russia of failing to implement ceasefire, rebels say they might attend talks only if progress is seen soon.

13 февраля, 17:32

One day in the life of a suffocating planet: air pollution around the world

To kick off a Guardian Cities week investigating air pollution, our reporters followed the sun from Sydney to Lagos to Los Angeles – taking readings, talking to locals and giving a snapshot of our choking citiesThe war against air pollution has begun – and it will be fought in cities 6.04pm GMT We’ve reached the Pacific Ocean, where air pollution blissfully drops away to zero.Thanks for joining us for a snapshot of air pollution on this otherwise unremarkable Monday in February 2017. The results have been worrying.Bank of AQI400+ smog rolling into Beijing just now - within 20 minutes https://t.co/jbk3byT37C #beijing #airpocalypse #smog pic.twitter.com/Sf5Zom6F9MAir filter, new and after five months in Delhi #GuardianCities pic.twitter.com/Jxn6OMUWCA Holy shit #thatview #smog #almaty #kazakhstan #koktobe #incredible #sun #air #bluesky #cityscapeThe rapid pace of industrialisation in this city is both a blessing and a curse; residents choke on their commute daily. #GuardianCities pic.twitter.com/OtA0qEhmgrOutdoor air quality, Wilmington: 10 micrograms of PM2.5 per cubic meter; 507 ppm of CO2; 44% humidity; moderate AQI of 42 pic.twitter.com/XfTIeRsDh7 5.46pm GMT Los Angeles: 9.45am. I’m in a neighborhood called Wilmington, in the far south end of the city, which is home about 60,000 people – and some of the worst air quality in southern California.It’s an unlucky part of town, nestled in between the ports of Los Angeles and Long Beach. There’s a major complex of oil wells and refineries, and a heavily used diesel truck and rail shipping corridor. The port complex is America’s largest. Some homes are right next door to oil wells and refineries. Hi from Wilmington, which has some of the worst air quality in Southern California pic.twitter.com/zljDhuvrYnOutdoor air quality, Wilmington: 9 micrograms of PM2.5 per cubic meter; 550 ppm of CO2; 44% humidity; moderate AQI of 38 pic.twitter.com/rlfrQ6RNLWOutdoor air quality, Sunset Blvd., Echo Park, L.A.: 13 micrograms of PM2.5 per cubic meter; 509 ppm of CO2; 65% humidity; moderate AQI of 53 pic.twitter.com/yYFjZTgZoxOutdoor air quality, Downtown L.A.: 16 micrograms of PM2.5 per cubic meter; 532 ppm of CO2; 65% humidity; moderate AQI of 59 pic.twitter.com/8XSNEn7s7COutdoor air quality, Wilmington: 10 micrograms of PM2.5 per cubic meter; 507 ppm of CO2; 44% humidity; moderate AQI of 42 pic.twitter.com/XfTIeRsDh7Outdoor air quality, Wilmington: 22 micrograms of PM2.5 per cubic meter; 564 ppm of CO2; moderate/bad AQI of 72 pic.twitter.com/cZ6ejGDvIW Continue reading...

13 февраля, 12:29

Russia hopes U.S. delegation will come to Astana meeting on Syria

Russia hopes the U.S. delegation will come to the meeting on Syria due to be held in Kazakhstan’s capital Astana, Russian Presidential Envoy for the Middle East and North Africa and Deputy Foreign Minister, Mikhail Bogdanov, said on Feb. 13. "We hope that U.S. representatives will come as observers," he said. "Last time the meeting was attended by the ambassador. I believe our American partners will decide now." Russia’s delegation to the Syria meeting on Feb. 15-16 will be led by president’s special envoy for the Syrian settlement Alexander Lavrentyev. "We will have the same delegation as for the first Astana meeting on Jan. 23-24," Bogdanov said.​ Source: TASS Read more: Russia takes center stage as arbiter of peace in Syria

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12 февраля, 18:03

Hezbollah supports Syria ceasefire and political talks

BEIRUT (Reuters) - The Lebanese Hezbollah movement strongly supports the Syria ceasefire agreed upon in Kazakhstan and any truce that could lead to a political solution, its leader Sayyed Hassan Nasrallah said on Sunday.

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11 февраля, 15:05

Kazakhstan says delegations of Syrian government, rebels invited to Astana meetings

ALMATY (Reuters) - Delegations from the Syrian government and rebels along with U.N. Syria envoy Staffan de Mistura have been invited to attend meetings on the Syria crisis in Kazakhstan's capital of Astana on February 15-16, the Kazakh Foreign Ministry said on Saturday.

10 февраля, 23:41

Will 'friendly' fire deaths in Syria dampen Russian-Turkish relations?

"Russian military planes accidentally struck a building where Turkish servicemen were positioned," the General Staff of the Turkish Armed Forces said on Feb. 9. The incident took place near the city of Al-Bab, which is under control of the Islamic State. The city is the last ISIS stronghold in the north of Syria. In January, Russia and Turkey made joint strikes on ISIS militants near Al-Bab and have been coordinating actions at the highest level, but this time the coordination clearly failed. Russian bombers hit a position where Turkish servicemen were stationed, resulting in three deaths and 11 wounded. Kommersant cited Russian Defense Ministry sources as saying that the coordinates of the targets were agreed upon earlier, but the tragedy might have been due to "the uncoordinated movement of Turkish ground troops."  Restrained reaction The previous Russian-Turkish incident that led to fatalities occurred on Nov. 24, 2015 when the Turkish Air Force shot down a Russian Su-24 bomber that allegedly violated Turkey's air space. Two Russian pilots died, and Moscow's reaction was extremely harsh. President Vladimir Putin called the attack, "a stab in the back by supporters of terrorists," and Moscow hit Turkey with economic sanctions. Relations remained exceptionally cold until Turkish President Recep Tayyip Erdogan apologized in June 2016. What went wrong during a Russian air strike that killed Turkish troops? This time, however, the situation was completely different. Turkish General Staff emphasized that the attack was unpremeditated and that Russian aviation was attacking ISIS militants. Immediately after the incident Putin called Erdogan and expressed his condolences. Ankara is satisfied with Moscow's reaction, reported TASS, citing a source in the General Staff of the Turkish Armed Forces. In his words, Russia and Turkey will form a special commission to "prevent such incidents in the future." No serious consequences "Turkey could have repaid Russia for Putin's harsh reaction to the downed Russian plane, but it won't," wrote Alexander Baunov, chief editor of the Carnegie Moscow Center webtsite, on his Facebook page. "Unlike in 2015, Turkey no longer has its own game plan in Syria." In addition to joint airstrikes against ISIS, Russia and Turkey are trying to persuade both sides in the Syrian civil war to move towards a peaceful solution. Together with Iran, Russia and Turkey were co-sponsors of peace talks held in Astana, Kazakhstan. "Russian-Turkish ties have a deep reserve of durability that allows the countries to distinguish real intentions from unfortunate circumstances," explained Yuri Mavashev, director of the political department at the Center for Modern Turkey Studies, adding that Moscow and Ankara earlier agreed on creating spheres of influence in Syria and these accords are respected. Victor Nadein-Raevsky, a top specialist at the RAS Institute of World Economy and International Relations, also believes there won't be a radical deterioration in Russian-Turkish relations. "There definitely won't be a fatal rupture, but now it's important to strengthen coordination on the ground in order to avoid a similar incident in the future." The knot around Al-Bab Experts say the liberation of Al-Bab from ISIS is a matter of time. From the north Turkish forces and the Free Syrian Army (FSA) are attacking, while the Syrian Army backed by the Russian Air Force pushes up from the south. Syrian President Bashar Assad, however, is very unhappy with the presence of Turkish forces in Syria, and this creates potential for a conflict. "The front where ISIS is opposing the Turks and the FSA, and the front where militants are fighting the government army, are moving closer together and are basically turning into one front line," said Ilshat Saetov, a Turkish affairs specialist at the Center for Middle East Studies that is part of the RAS Middle East Institute. Saetov believes that such conditions create the strong possibility of unnecessary fighting and losses. On the other hand, neither Turkey nor the Syrian government want a full-scale war, and that's why even in the event of friendly-fire losses the conflict will not escalate. "The military resources of the Syrian and Turkish armies are incomparable," said Mavashev. Also, Moscow has enough influence over Assad to stop him from taking action against the Turkish Army. On the other hand, Mavashev pointed out that conflict between front-line troops are difficult to control, especially as there might be volunteer units and mercenaries fighting on both sides. Ankara and Moscow to take steps for preventing further accidents in Syria

10 февраля, 19:40

IEA: OPEC nations obey cut in output deal

OPEC countries are largely complying with a landmark deal to reduce the global oil glut, the IEA said yesterday, as it predicted that oil demand was likely to be more vigorous than anticipated this year. In

10 февраля, 19:02

The West Will Become The New ‘Third World’: PricewaterhouseCoopers

Hold your real assets outside of the banking system in one of many private international facilities  -->    https://www.sprottmoney.com/intlstorage          The West Will Become The New ‘Third World’: PricewaterhouseCoopers Written by Jeff Nielson (CLICK HERE FOR ORIGINAL)       First World The term “First World” refers to so called developed, capitalist, industrial countries, roughly, a bloc of countries aligned with the United States after word war II, with more or less common political and economic interests: North America, Western Europe, Japan and Australia. Second World “Second World” refers to the former communist-socialist, industrial states, (formerly the Eastern bloc, the territory and sphere of influence of the Union of Soviet Socialists Republic) today: Russia, Eastern Europe (e.g., Poland) and some of the Turk States (e.g., Kazakhstan) as well as China. Third World “Third World” are all the other countries, today often used to roughly describe the developing countries of Africa, Asia and Latin America. The term Third World includes as well capitalist (e.g., Venezuela) and communist (e.g., North Korea) countries as very rich (e.g., Saudi Arabia) and very poor (e.g., Mali) countries. source   First World. What a nice euphemism. Of course depending on where a person lives in the world, they might want to attach a different label to that collection of nations, like The Conquerors, or simply The Exploiters. For many generations; the First World got fat at the expense of the other “worlds”, most notably the so-called Third World. But times have changed.   The economies of emerging market minnows Egypt and Pakistan could surpass the Canadian economy by 2050, according to a “brave” new report by management consultancy PricewaterhouseCoopers. That report takes a particular metric and simply projects it into the future. Pure numbers. So why would the Financial Post choose to characterize an economic projection as “brave”? How can mere numbers be brave? It’s because the findings of the report are economic (and social) heresy, in our corner of the planet. The First World will no longer be first. Indeed, arguably it will no longer even be second. The economic forecast in the PWC report shows the so-called First World on a steady slide to Third World status.   “By 2050, emerging economies such as Mexico and Indonesia are likely to be larger than the UK and France, while Pakistan and Egypt could overtake Italy and Canada,” PWC said in a report published Tuesday. However, this is not the only reason why the Financial Post chose to emphasize the word “brave” when referencing the report. Readers looking at the previous statements may not immediately see anything particularly shocking in the findings. Egypt and Pakistan have much larger populations than Canada. So why couldn’t their economies become relatively stronger, in overall terms? However, that all changes when one looks at the current differentials between these economies, using the conventional means of ranking nations economically.   The PWC forecast seems incredulous as Egypt’s GDP based on the more common market exchange rates (MER) stood at US$340 billion and Pakistan a mere US$284 billion in 2016. By contrast, Canada’s US$1.5 trillion massive economy placed it as the 10th largest in the world. Now we get to the shocking part of this projection. Canada’s GDP is currently more than double that of Pakistan and Egypt combined. Yet by 2050, according to a respected Western economic consultant, both of those nations will have stronger economies than Canada. This is also where we get to the interesting part of this report. What metric does PricewaterhouseCooper rely upon as the basis for its economic projection? It uses an economic term called “purchasing power parity”. It is the total purchasing power of that population. PWC argues that this produces a clearer picture of actual economic strength because it cancels out price differentials between economies. In general, prices are much higher in Western economies than in the Emerging Market countries (and even BRICS nations), thus having higher nominal amounts of wealth circulating in Western economies can be deceiving, since it can buy less stuff. What makes this metric and report so interesting is that PWC is essentially projecting the real wealth levels of these populations. This projection is about a lot more than just evening out price differentials. Canada’s GDP is more than four times as much as that of Egypt, and more than five times as much as that of Pakistan. Even by 2050; PWC estimates that Canada will still have GDP greater than either nation. But Egypt and Pakistan will have stronger economies, because their populations will have more real wealth circulating in those economies. We’re not dealing with a small differential here. Note that PWC is talking about Egypt and Pakistan having much stronger economies than Canada. By 2050, measured in purchasing power parity, both Egypt and Pakistan will have economies more than 1/3 stronger than Canada. This seems to be incongruous. If Canada will still have the larger economy by 2050 (as measured in GDP), why will Egypt and Pakistan both have stronger economies, as measured in the real wealth circulating within that economy? We get a large clue by looking at a chart which is familiar to regular readers.       For the past 8+ years; the bankers of the Federal Reserve and the bankers of Wall Street have been boasting about all the “wealth” that has been created in the United States during the mythical U.S. recovery. Yes, lots and lots of wealth. Regular readers know that B.S. Bernanke conjured more than $3 trillion of new U.S. funny-money into existence during the infamous Bernanke Helicopter Drop, quintupling the entire U.S. money supply in less than five years. And every, single dollar was handed to the Big Banks of Wall Street – for free. But that’s just the tip of the iceberg. Thanks to the magic of “fractional-reserve banking”, where U.S. banks are allowed to lend $35 for every $1 they receive. The $3+ trillion which B.S. Bernanke handed to them became well over $100 trillion in new liquidity. That works out to more than $300,000 per American. So why are there roughly 50 million permanently unemployed Americans? Why are more than 40 million forced to rely upon food stamps to survive? Because when the bankers conjured their $100+ trillion into existence (for free), they kept it all – kept it all for their Masters, the oligarchs. What did the oligarchs do with that extra $100+ trillion? As the chart above clearly shows, the oligarchs stuffed most of that $100+ trillion into their own hoards, spending virtually nothing. Of course that’s not entirely true either. They gambled with much of their funny money, in the bankers’ private, unregulated, rigged casino – the derivatives market. The derivatives market is a hoard of private wealth which never circulates in the real economy that is somewhere in the magnitude of $1.5 quadrillion ($1,500 trillion). We’re no longer sure how large the rigged casino has swollen, since in 2010 the bankers changed their “definition” of the casino, and overnight the derivatives market (supposedly) shrunk by 50%. This financial cesspool is the most gigantic repository of dark pool liquidity the world has ever seen. The gambling done in the derivatives market is used to manipulate the real economy, but none of the “wealth” in that rigged casino ever circulates within the real economy. The chart above, the heartbeat of the U.S. economy, shows what happens when most of the wealth/liquidity in an economy is hoarded: the economy withers and dies. Dismal holiday sales at Macy's and Kohl's cast gloom over sector While the U.S. mainstream media were presenting their usual “visions of sugar plums” (i.e. lies) about the U.S. economy before Christmas, they couldn’t hide the truth from the bottom line. "The strength around Thanksgiving and Christmas was insufficient to offset the sales weakness in the balance of the quarter," Stifel, Nicolaus & Co analyst Richard Jaffe wrote. "In addition, these peak selling periods were characterized by greater promotions which contributed to weaker than anticipated gross margin as well," he said in a client note.   Translation? The only way that the U.S. retail sector was able to sell significant quantities of goods to consumers with near-empty wallets (and maxed-out credit cards) was by slashing prices to the bone – leaving little-to-nothing in profit. Does that sound like an economy that has been “recovering” for more than eight years? Does that sound like an economy literally overflowing with newly-conjured wealth? Hardly. Why will Canada have a larger economy than either Egypt or Pakistan by 2050, while having a weaker economy than both? Because as with the United States (and the rest of the Corrupt West), most of that wealth will be hoarded – hoarded by the Oligarch Trillionaires. Why does “sharing the wealth” automatically make an economy stronger? It’s not socialism, it’s simple economics. Just ask the IMF. IMF study finds inequality is damaging to economic growth The bankers would like to pretend that they are just learning this now, just learning that “trickle-down economics” was nothing more than the pablum fed by the oligarchs to their right-wing foot soldiers – and the charlatan economists who preached it. In reality, the fact that wealth equality is the foundation of economic strength is one of humanity’s oldest truths. An imbalance between rich and poor is the oldest and most fatal ailment of all Republics. - Plutarch (46 – 119) According to this noted philosopher, nearly 2,000 years ago it was already old news that the fastest way to kill an economy was to let the rich people hoard all the wealth. And what have we learned in 2,000 years? As PricewaterhouseCoopers shows us, not much.     Please email with any questions about this article or precious metals HERE         The West Will Become The New ‘Third World’: PricewaterhouseCoopers Written by Jeff Nielson (CLICK HERE FOR ORIGINAL)

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10 февраля, 16:30

Kazakh Gas Exports Rise for Third Year

Kazakhstan’s commodity sector is trying to develop its gas production as oil output falls, according to local analysts Finprom.kz. Oil output is down 5% and gas output rose 10% over the three years to 2016. However, the volumes are still disproportionate, and oil production still dominates the...

10 февраля, 15:07

Oil Jumps After IEA Reports Record OPEC Compliance With Production Cut Deal

Oil jumped this morning, with Brent rising 1%, trading above $56 after the International Energy Agency said OPEC had achieved record initial compliance of 90% with planned production cuts - it is unclear how much of this was self-reported and questionable -  while demand grew faster than expected. In the first month of OPEC’s supply cut agreement, key member Saudi Arabia reduced production by 116%, or even more than it had committed, despite Venezuela's struggles to reduce output (it had achieved only 18% of planned cuts) while higher demand is aiding the group’s bid to re-balance world markets, the IEA said. The following Bloomberg chart shows alleged deal compliance by nation... ... and the detailed breakdown is shown below: The IEA, which advises industrial nations on energy policy, said that if current compliance levels are maintained, the global oil stocks overhang that has weighed on prices should fall by about 600,000 barrels per day (bpd) in the next six months. The IEA also estimated that 11 producers including Russia, Kazakhstan pumped 269k b/d less crude in January versus October-November levels, citing preliminary data. The IEA also increased its 2016 estimates for world oil demand growth for a third month, and boosted its outlook for 2017, anticipating an increase of 1.4 million barrels a day this year. World oil inventories will fall by 600,000 barrels a day during the first half of the year if OPEC sticks to its agreement, the IEA said. Oil has fluctuated above $50 a barrel since a deal to trim output between OPEC and 11 other nations took effect on Jan. 1. U.S. producers are taking advantage of higher prices by increasing drilling activity and boosting daily output to the highest level since April, a dynamic the IEA said is capping prices in the mid-$50s. “There is a demand element to this price rise as well as OPEC compliance,” says Michael Hewson, market analyst at CMC Markets. “We’re still short of the highs of the month” “The key question for the oil market is how long OPEC can sustain this deal,” Spencer Welch, a director at IHS Energy, said by e-mail. “Historic analysis of similar production limits suggests that 100 percent compliance is unlikely.” While the oil market welcomed the data, which may or may not be accurate as verification remains problematic and recent surges in inventory suggest quite the opposite of what the IEA reports, increasingly more attention has recently fallen on US crude production, especially in light of a recent surge in Permian drilling rigs...  ... which threatens to disrupt the much desired supply/demand equilibrium.

10 февраля, 14:15

Заманауи бата берген қыздарды көпшілік сынап тастады

Қалың көрерменге заманалы батаның қандай болатынын көрсетіп, әзілдеген қазақ актрисалары елдің сынына қалды деп хабарлайды NUR.KZ. Видеода олар бүгінгі күннің "батасын" көрсетпек болған. "4 G-ің мол болсын, лайктарың зор болсын. Интернет берсін, wi-fi берсін. Бір миллион лайкқа жететін күш берсін. Әумин", - деді "бата" беріп отырған бойжеткен. Современный бата Видео опубликовано Kazakhstan | Kz-tv | Video (@kz_tv) Фев 10 2017 в 1:00 PST Қыздардың бұл әзілін естіп, желі қолданушылары ашуға булықты. Олардың айтуынша, ата-бабадан қалған құндылықтардың бірі - батаны мазаққа айналдыруға болмайды. "Бата да ойыншыққа айналған ба?", "Ендігі жетпегені батамен ойнау. Артық кетсем кешіріңіздер", "Одан да дұрыс көйлек кисеңдерші, ұялмай қарайтын", - деп жазды олардың дені. Тағы оқыңыздар: Оралда қысқы демалысқа келген студент із-түзсіз жоғалып кетті (фото) Алматыда банкирді азаптап өлтіргендер ұзақ жылға сотталды «Синий кит» ойынына еліткен оқушы қолын 71 жерден тілгілеп тастаған (фото) Жанар Дұғалова клипке түсемін деп күйіп қалды (видео) Шымкентте таныстарын төсек арқылы бопсалайтындар көбейіп кеткен (фото)

10 февраля, 12:29

Ресейлік әнші ел алдында "Қазақстанға түкіргенім бар" деп жар салды

Ресейдің танымал Serebro тобының әншісі Ольга Серябкина тікелей эфирде "Қазақстанға түкіргенім бар" деп өз ойын ашық айтты деп хабарлайды NUR.KZ. "Серебро" тобы Қазақстанда Ресейлік телеарналардың біріне қонақ болған жұлдыз Ольга Серябкина Қазақстанға деген өзінің көзқарасын айқын көрсетті. Ол "Қазақстанға түкіргені бар" екенін айтты. Қазақстанға арнайы шақыртумен жиі келетін аталған топ мүшесінің әрекеті желідегілердің ашуын тудырды. Олар түрлі пікірін жазып, әншіні сынап тастады. Ал топ директоры Елена Вакулинаның Tengrinews-ке айтуынша, алдымен бұл сөздің қандай мәнмәтінде айтылғанын түсініп алған жөн. Вакулина Серябкина видео үндеу жазып жолдайтынын айтып сендірді. Тағы оқыңыздар: Оралда қысқы демалысқа келген студент із-түзсіз жоғалып кетті (фото) Алматыда банкирді азаптап өлтіргендер ұзақ жылға сотталды «Синий кит» ойынына еліткен оқушы қолын 71 жерден тілгілеп тастаған (фото) Жанар Дұғалова клипке түсемін деп күйіп қалды (видео) Шымкентте таныстарын төсек арқылы бопсалайтындар көбейіп кеткен (фото)  

10 февраля, 11:37

What went wrong during a Russian air strike that killed Turkish troops?

Russian Air Force planes accidentally launched a missile strike on Turkish troops in north Syria, killing three servicemen and wounding 11 more, the Turkish General Staff reported. At 8:40 a.m. local time on Feb. 9, a Russian fighter plane on a sortie against the Islamic State erroneously hit a building in the town of Al-Bab that was occupied by Turkish troops, reads a statement on the Turkish Armed Forces website. Russian President Vladimir Putin made a phone call to Turkey’s leader, Recep Tayyip Erdogan, to express his condolences. Both countries have begun investigating the incident. A report by the Russian presidential press service posted on the Kremlin's website reads that Putin, “expressed his condolences over the tragic incident that resulted in the deaths of several Turkish servicemen near the town of Al-Bab.” Putin's press secretary, Dmitry Peskov, told journalists that the Turkish servicemen were killed as a result of mistaken coordinates during the Russian air strike. Peskov added that Russia and Turkey will urgently improve coordination. Army General Valery Gerasimov, chief of the Russian General Staff, spoke on the telephone with his Turkish counterpart, General Hulusi Akaru, to discuss the situation around Al-Bab, and also expressed his condolences. The two generals agreed on closer coordination of their forces in Syria, sources in the Russian Defense Ministry told Gazeta.ru. Syria accuses Turkey “Russian bombers were flying a sortie to destroy Islamic State positions near the town of Al-Bab,” said a statement by the Russian Defense Ministry's department for information and mass communications. “The [two countries'] chiefs of general staffs have agreed on closer coordination of joint operations, and on exchanging information about the situation on the ground.” Are Russia’s SS-21 missiles in use in Syria against Islamic extremists? Syrian government troops approached Al-Bab from the east on Feb. 6, and prior to that, Turkish troops jointly with Syrian opposition forces had blocked the city from the north. Rami Abdul Rahman, chairman of the opposition Syrian Observatory for Human Rights, said Al-Bab found itself under siege after pro-government forces had blocked the road linking it to Rakka, the Syrian citadel of the Islamic State, in the early hours of Feb. 6. The Turkish troops with their local allies are unofficially competing against Syrian government troops over who will beat the other side to entering Al-Bab, said Vladimir Isayev, a professor at the Institute of Asian and African Countries at Moscow State University. This may transform into a serious conflict, with the opposing sides fighting each other rather than the Islamic State, said Isayev. They have been on different sides of the barricades since the beginning of the Syrian conflict. The Syrian government has repeatedly accused Turkey of aiding and abetting terrorism, describing the Turkish troops involved in Operation Euphrates Shield as occupiers of Syrian territory. There is not yet an agreement on who will storm Al-Bab, and how. Turkish Deputy Prime Minister Numan Kurtulmus said in late January that Ankara would not cede control over the city to Damascus after its liberation. On Jan. 8, Russia and Turkey launched its first joint operation outside Al-Bab, with the two countries' warplanes staging coordinated strikes on Islamic State positions. Turkey to take Al-Bab The operation to seal off Al-Bab would not have been possible without a prior clear-cut agreement on who will control which part of the city, said Colonel (retired) Viktor Murakhovsky. The chiefs of the Russian and Turkish general staffs met and agreed on this, not to mention there were a number of lower-level meetings between operations officers. Apart from conducting joint air strikes in Syria's Aleppo province, Russia and Turkey exchange military intelligence. Yuri Mavashev, head of the political department at the Center for Modern Turkish Studies, said that Moscow and Ankara had earlier reached an agreement on Al-Bab eventually coming under Turkish control. The latest incident will not affect Moscow's strategic relationship with Ankara, said Vladimir Sotnikov, director of the Russia East-West Center. He has no doubts that Turkey will establish control over Al-Bab following the city's liberation. “Let us recall what happened in November 2015 when the Turks shot down a [Russian Sukhoi Su-24 bomber], allegedly by mistake,” said Sotnikov. “Russia could have kept reminding Ankara about that incident, but we were above this, so Erdogan and Putin managed to re-establish good personal relations; at Turkey's request, mind you.” Sotnikov added that Turkey very much needs Russia at the moment. Ankara has been having serious problems with its NATO partners, the burden of unresolved domestic political disagreements is piling ever higher, and the country is in dire need of support in its continuing fight against the Islamic State. According to official reports, at least 60 Turkish servicemen were killed in the six months of the military operation in the north of Syria. The Feb. 9 report by the Russian presidential press service also mentions decisions made at the Syrian peace talks in Astana, Kazakhstan: “The sides confirmed their readiness to actively promote the Astana and Geneva Syrian settlement processes.” A joint Russian, Turkish, and Iranian group was set up in Astana on Feb. 6 to monitor the current ceasefire in Syria.  First published in Russian in Gazeta.ru

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09 февраля, 19:53

Tengizchevoil lets contract for pump project in Kazakhstan

Tengizchevoil LLP (TCO) has selected Fluor Corp.’s joint venture team, KPJV, to execute the front-end engineering and design for TCO’s multiphase pump project in Kazakhstan.