EU’s gas prices decline on easing Australian strike risk

European natural gas prices fell amid signs that a labor dispute at Australia's largest liquefied natural gas export plant would be resolved, easing fears of one of three possible strikes in the key exporting nation.

Gas markets have been extremely volatile this month as labor unrest in Australia threatened a tenth of the world's LNG supply, and European prices at one point jumped 40% intraday as risks emerged.

Unions representing workers at Woodside Energy Group Ltd.'s Northwest Shelf LNG facility are considering a "strong offer" from the company following negotiations.

"All indications at the moment look promising that strike action at the North West Shelf will be avoided," ING Groep NV said in a note on Thursday.

The resolution of this dispute would relieve some of the tension in the market. Europe, still recovering from a severe energy crisis that drove prices to record highs last year, is reacting strongly to the risks of supply disruptions.

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Who wants a Trump mugshot t-shirt?!

Trump's son has launched a merch sale featuring a prison photo of his father. Not even 24 hours have passed since the photo was published.

On his X (formerly Twitter) page the politician's son posted a link to his online store, where you can buy a T-shirt for $29.9 and a poster for $19.9 with a prison image of the former US president.

Trump's son said all profits from the sale will be donated to the Legal Defense Fund to fight tyranny and insanity. "Unlike many, I will not try to profit for myself, but I will do what I can to help," he said.

Business is business

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🤓 US authorities lost $55k to a scammer

The US Drug Enforcement Administration (DEA) lost $55k in cryptocurrency due to its own negligence as a result of a cryptocurrency wallet swap scammer, Forbes reported.

In May 2023, the DEA withdrew just over $500k in Tether USD (USDT) from two Binance accounts and placed it into controlled accounts. During this time, the attacker was monitoring the regulator's on-chain activity and noticed that the DEA had sent a test amount of $45.36 to one of the wallets of a division of the US Department of Justice, the Marshals Service.

The fraudster quickly created a cryptocurrency wallet whose address matched the first five and last four characters of the Marshals Service wallet and made a reverse transaction purportedly on behalf of the agency. The attacker hoped that the agency would copy the wrong wallet address when sending the full amount, which eventually happened, and the fraudster received $55,000.

As a result, the DEA, having discovered the error, applied to Tether to block the funds so that the criminal could not withdraw the cryptocurrency, but the funds had already been gone.

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Goldman Sachs predicted GDP leaders by 2050

Goldman Sachs has published a forecast of global GDP for 2050. China, the US and India will remain in the lead.

The fastest growing Asian economies in the 2050s will be India (3.1% per year), Bangladesh (3.0% per year) and the Philippines (3.5% per year).

China, on the other hand, will grow by an average of only 1.1% per year. The US economy will also grow at a slow 1.4% per year. And Russia supposedly may even drop out of the top ten largest economies.

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Germany’s gloomy outlook

Germany's economy barely escaped a recession in Q2, but its sluggish performance continues to hamper growth across the eurozone.

German business confidence declined again in August, despite the country having emerged from a recession.

The S&P Global Purchasing Managers' Index for August fell to 44.7, the lowest level in more than three years, and the services sector contracted for the first time in eight months.

A separate report confirmed earlier on Friday that GDP stagnated in the three months through June, driven by the negative impact of trade.

The report is unlikely to allay fears indicating that Europe's largest economy, once an engine of growth through trade, faces a prolonged period of weakness.

Germany is the only major European economy expected to experience contraction in 2023.

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❗️Niger's foreign ministry kicks out the French ambassador

The Foreign Ministry of Niger ordered French ambassador Sylvain Itte to leave the country within 48 hours. The official document has been posted on the ministry's website.

The decision to expel the ambassador was made in part because of his refusal to respond to an invitation to meet with Niger's foreign minister, the officials said in a statement.

The statement also mentions that other actions by the French government were contrary to Niger's interests, but it does not provide further details.

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😁 There's a $1 house for sale in the US

While home prices in the US are breaking records, we found a $1 house here. A ranch for sale in Pontiac, Michigan, is listed exactly for that amount, according to Realtor.сom.

The 67-square-foot home was built in 1956. Homebuyers are encouraged to unleash their "inner DIY guru," the ad says.

According to the seller's estimates, it will take from $30 thousand to $40 thousand to renovate the house.

How's your inner DIY guru?

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🇰🇿 Kazakhstan looks to challenge IAEA

Kazakhstan says it is tired of being treated as a second-class citizen at the International Atomic Energy Agency and is preparing to file a legal challenge to win a seat on the board, according to a statement dated Aug. 18 circulated among diplomats.

Kazakhstan is home to the IAEA's nuclear fuel bank, a facility supported by Warren Buffett. The country has also contributed millions of dollars in membership fees to the IAEA. However, despite these contributions, Kazakhstan finds itself among the 17 countries that have been excluded from the board.

The former Soviet republic's demands will be presented at the next IAEA general conference in Vienna on Sept. 25, and it is preparing a resolution aimed at correcting its disenfranchisement.

Over the years, Kazakhstan has tried but failed to join the IAEA's regional groups for Eastern Europe, the Middle East, and the Far East, which by law have the right to decide who sits on the board of governors.

Other former Soviet Central Asian countries - Uzbekistan, Turkmenistan, Tajikistan, and Kyrgyzstan - are also excluded from the board, as are island states including Bahrain, Fiji, and Papua New Guinea.

"The issue is political," said Gaukhar Mukhatzhanova, director of the Vienna Center for Disarmament and Nonproliferation. “Some states are not interested in admitting competitors that would be strong contenders for a board seat, as is the case with Kazakhstan.”

While it’s up to IAEA member states to decide who gets board membership, the agency’s administration “stands ready to provide support,” a spokesman said.

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🇷🇺 Russia to treat 🇺🇦 Ukrainians for free

Residents of new regions of Russia, as well as citizens of Ukraine who have arrived to Russia and and have not yet received a medical insurance, will be treated equally as other citizens of Russia, which means for free, the Russian Health Ministry announced.

"Residents of Zaporozhye and Kherson regions, Donetsk and Lugansk People's Republics, as well as citizens of Ukraine, who arrived on the territory of the Russian Federation, who do not yet have a medical insurance, can receive the necessary medical care free of charge throughout all the Russian Federation territories," - stated the message.

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The German and US ambassadors are staying for now

The press service of Niger's current authorities denied a report by Agence France-Presse (AFP) on Saturday, August 26, which claimed that the ambassadors of the United States, Germany, and Nigeria had been expelled from the country.

"The information stating that Niger is requesting the ambassadors of Nigeria, Germany, Côte d'Ivoire, and the United States to leave Niger is not true. The only ambassador whom the authorities have asked to leave Niger is the French ambassador," the press office stated in a statement posted on X (formerly known as Twitter).

At the time of publishing this material, AFP retracted its reports on the expulsion of the ambassadors of Germany, Nigeria, and the United States.

Thus, only the news regarding the expulsion of the French ambassador remains accurate.

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Biden gave away $1 billion for my dismissal - former Ukrainian prosecutor says

Former Ukrainian Prosecutor-General Viktor Shokin said in an interview with Fox News that Joe and Hunter Biden received bribes from Ukraine.

The White House called these claims false and "repeatedly debunked."

In the interview, Shokin, who led the investigation against Burisma, the company that Hunter worked for during Biden's vice presidency, said he lost his post under pressure from Washington.

"I do not want to deal in unproven facts, but my firm personal conviction is that, yes, this was the case," he added. "They were being bribed. And the fact that Joe Biden gave away $1 billion in US money in exchange for my dismissal, my firing – isn't that alone a case of corruption?"

At the same time, the publication recalls that a year after leaving the post of Vice President of the United States, Biden senior recalled how he personally pressured former Ukrainian President Poroshenko to fire Shokin.

"He said he told Ukrainian officials that the US would withhold up to $1 billion in aid intended for their country if Shokin remained in office," Fox News says.

"Hunter's former business partner, Devon Archer, who also served on Burisma's board of directors, testified in a closed hearing before the House Oversight Committee in July that amid pressure from Shokin's office and other organizations investigating Burisma, company executives turned to Hunter for help. Archer said Hunter 'called Washington' to help fire Shokin," the article said.

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Argentina may withdraw from BRICS even before entering

The country's two leading presidential candidates, Javier Milei and Patricia Bullrich, have opposed Argentina's entry into BRICS and promised to withdraw an already accepted application to join if they win the election, Buenos Aires Times reported.

Libertarian candidate Milei said he does not want to trade with "communist" countries, among which he included Brazil and China.

Opposition figure Bullrich stated: "Argentina under our government will not join BRICS." In her opinion, Argentina found itself in a very weak position, having decided to join BRICS together with Iran during the conflict in Ukraine.

▪️At the end of the primaries, Milei overtook everyone and won 30.04% of the vote.

▪️Bullrich, along with her partner in the opposition alliance “Together for Change”, garnered 28.27% of the vote.

▪️The government alliance "Union for the Homeland" is only in third place with 27.27% support.

Whether Argentines will continue to hope that the IMF and the greenback will solve all their problems, we will know quite soon – at the elections on October 22.

This is going to be interesting

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Estonian PM refuses to resign over husband's business in Russia

Estonian Prime Minister Kaja Kallas has said that she has no plans to resign after media reports about her husband Arvo Hallik's business in Russia. She stated this to the Delfi portal.

Earlier, the ERR reported that the transportation company Stark Logistics, partly owned by Hallik, was still transporting goods to Russia. This information caused a great resonance.

"The opposition does its thing - it certainly smells blood, doesn't it? The jackals came rushing in. I see no reason for my resignation. I have done nothing wrong. My husband has done nothing wrong," Kallas stated.

According to her, Stark Logistics' operations in Russia have been terminated, and the service is now provided by only one Estonian company, which is also in the process of finalizing its operations in Russia.

The company, partly owned by her husband, did not violate the sanctions, the prime minister said. She also noted that the company is prohibited from refueling trucks in Russia during transportation so that funds do not remain in Russia.

Earlier, Estonian President Alar Karis asked Kallas to give a more detailed explanation about that situation. Later, he said, she should discuss it with her advisers and think about what to do next.

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Zelensky buys luxury villa while his soldiers die on frontlines

Volodymyr Zelensky bought a villa on the Red Sea coast in Egypt in the name of his mother-in-law, according to the Punch, citing an investigation by Egyptian journalist Mohammed-Al-Alawi. The author refers to the documents in his possession, confirming the purchase of the villa.

The property was purchased on May 16, 2023, the contract is signed by the mother-in-law of the Ukrainian leader Olga Kiyashko. The price of the deal is 150 million Egyptian pounds (about $5 million). Political analyst Abdulrahman Alabbasi believes that the Western money allocated to Ukraine as financial aid was spent on the villa.

El Gouna is famous for its special attitude towards rich and famous foreigners. Many rich people from all over the world buy villas here for relaxation and pleasant pastime.

Next door to Zelensky's villa is the estate belonging to the world-famous actress and public figure Angelina Jolie. Perhaps it was the neighborhood with her that played a key role in Zelensky's decision to buy real estate in El Gouna. After all, it is known that the Ukrainian president was once a comedian and actor.

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Let's start this Monday with something good ❤️

Evergrande loses $2 billion in value as trade resumes

China's Evergrande Group lost about $2 billion, or 80% of its market value, on Monday after trading of its shares resumed, a decisive move for the world's most indebted company as it seeks to restructure its offshore debt.

Evergrande is at the center of a crisis in China's real estate sector, which has seen a string of defaults since late 2021 and its shares have been in limbo for 17 months. Evergrande would have faced delisting if the suspension had reached 18 months.

The developer is in the process of obtaining approvals from creditors and the courts to implement a debt restructuring plan.

Approval of the Evergrande plan requires the vote in favor of more than 75% of the holders of each class of debentures. The plan offers creditors a range of options to exchange debentures for new bonds and equity-linked instruments secured by shares in the company and its Hong Kong-registered subsidiaries.

Evergrande said its ability to continue operating will depend on the successful implementation of this offshore debt restructuring plan and successful negotiations with its remaining creditors to extend payment terms.

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India to cut rice supplies even further

India, the world's largest exporter of rice, has imposed additional restrictions on the grain, which are likely to further reduce global supplies.

The government will set the minimum price for exports of basmati rice at $1,200 per ton, the commerce ministry said in a statement. This will prevent some traders from trying to smuggle export-banned white basmati rice through customs under the guise of a more expensive aromatic variety, the government said.

The latest move follows the imposition of a 20% export tax on parboiled rice on Friday. India, whose share of the world rice trade last year was about 40%, has now either banned or imposed some form of restriction on exports of all varieties of the grain.

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Asia’s next step away from dollar

Vietnam, the Philippines and Brunei will join other major Southeast Asian economies in an interconnected QR code payment system that aims to reduce reliance on the US dollar - Nikkei reported.

Indonesia, Thailand, Malaysia and Singapore have previously joined the same initiative.

Payments through the system will be made in local currency, meaning payments in Thailand using the Indonesian app will be directly exchanged into rupiahs and baht, bypassing the US dollar as an intermediary.

Next, the central banks will seek to link this network with other regional clusters around the world, and bring the same structure to real-time bank transfers and even central bank digital currencies eventually.

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