Category Archives: Finance
– All things to do with money

• BRICS alliance is set to expand with 14 more countries expressing interest in joining.
• This expansion represents a shift in global economic alliances, challenging traditional power structures.
• The potential addition of new members indicates BRICS’s growing influence and the move towards a multipolar world order.
The 14 countries, including Algeria, Bahrain, Bangladesh, Belarus, Bolivia, Cuba, Honduras, Kazakhstan, Kuwait, Palestine, Senegal, Thailand, Venezuela, and Vietnam, have applied to join the BRICS bloc. This list represents a diverse mix of economies from different continents, each seeking to tap into the benefits of BRICS membership, ranging from increased trade opportunities to a stronger voice in global affairs.

US dollar continues to lose investors
The US dollar continued its losing streak while Treasuries steadied after rallying on further bets that the US Federal Reserve is nearing the end of its rate hike cycle.
Hopes that interest rates have peaked and the economy will avoid a recession spurred stocks and government bonds this month.
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Traders and banks make deals with Russian metals despite taboos
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Several Western banks and traders, from Citigroup Inc. to Trafigura Group, are increasingly eager to strike new deals with Russian metals, seizing opportunities to profit while competitors hold back.
According to the head of one of the trading houses who spoke privately, deals on Russian supplies are one of the few areas where solid profits can be made.
Among trading companies, Trafigura is actively seeking new deals to buy and sell Russian metal in a bid to beat rival Glencore Plc, which has said it won’t do new business with Russia, Bloomberg reported, citing anonymous sources.
And at the London Metal Exchange, financial firms including Citi and Squarepoint Capital LLP are buying large volumes of Russian aluminum, which currently dominates the exchange’s stockpiles.
Thus, in addition to sharply increased metal exports to Asia, Russian companies are gradually gaining new opportunities to export metals to the West as well.



















