The closure of the Strait of Hormuz could potentially increase global inflation by about 1–2 percentage points and reduce global GDP by roughly 0.5–1.0 percentage points, believes wealth advisory firm, ASK Private Wealth in its Newsletter. In the equity markets, this scenario is not entirely negative, highlighted ASK Private Wealth. Non-Gulf oil producers (like ExxonMobil,…
Billionaire veteran investor and former Chief Executive Officer (CEO) of Berkshire Hathaway, who has not been a fan of gold, said that he would take farmland and seven of oil major Exxon Mobil’s instead of having gold, reported the news portal. Economic Times. Warren Buffett said that if one took all the gold in the…
United States President Donald Trump has issued a new executive order which claims to “protect” Venezuelan oil revenue from being seized for judicial proceedings, AP reported. The order, made public on 9 January, states that the funds being seized for judicial proceedings could “undermine critical US efforts to ensure economic and political stability in Venezuela”,…
