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External Reserves Rise by $1bn in Three Days ( 8-05-2011 to 10-05 -2011), surprises in Nigeria!!
External Reserves Rise by $1bn in Three Days (11 May 2011) The rise in crude oil prices at the international market on Monday has impacted positively on Nigeria’s external reserves, which increased significantly by $1.093 billion within only three days, the reserves advanced by 3.35 per cent to $33.722 billion on Monday, from the $32.629 billion it stood last Thursday. The external reserves stood at $33.5 billion as at April, as against the $33.2 billion it recorded at the end of March after it rose to $36.4 billion by mid March. The reserves had grown by $3.1 billion in March. Foreign exchange dealers attributed the increase in the reserves to reduced pressure for dollars at the wholesale Dutch auction system (WDAS) since this month as well as soaring international oil prices. Oil price had risen by over four per cent on Monday (8-05-2011) as it gained 35 per cent from its figure a year ago after it dropped 15 per cent in the previous week in a biggest weekly loss since 2008. Reports...
THE KEY PROBLEMS BETWEEN RUSSIA AND BRITAIN RELATIONSHIP, MY OPINION!
There are four main stumbling blocks in Russian-British relations. First, the British nuclear arsenal is included in the U.S. nuclear planning system. All four British nuclear submarines are equipped with American made Trident II ballistic missiles. London also does not participate in the Washington Treaty (1987) on intermediate- and shorter-range missiles. Theoretically, the United States can bypass the START treaty’s limits and resume the production of medium-range missiles in a joint program with Britain. Therefore, Moscow believes that Britain undermines the arms control regime between the United States and Russia. Second, the United States views direct contacts between Russia and Western Europe with suspicion. The United States is quite concerned about Russia’s “common European initiatives.” Washington fears that Moscow is trying to undermine the military framework of NATO and the American presence in Europe, and so the United States tasked its key ally, Britain, with torpedoing ...
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