Morning Masala

Here is what others are talking about this morning:

Saudi Arabia Cuts Ties With Iran After Tehran Embassy Attack

Saudi Arabia cut ties with Iran and expelled the Islamic Republic’s diplomats, a day after its embassy in Tehran was attacked to protest the Saudis’ execution of a prominent Shiite cleric.

Oil prices jump over 2 percent on Saudi Arabia, Iran tensions

Oil prices jumped over 2 percent in the first trading hours of 2016 as relations between Middle Eastern rivals Saudi Arabia and Iran deteriorated following Riyadh’s execution of a prominent Shi’ite Muslim cleric.

Dollar drops vs yen as geopolitical woes, China data sap risk appetite

 The dollar fell to a 10-week low against the yen as tensions in the Middle East and soft Chinese data added bids to the safe-haven Japanese currency in the first trading session of 2016.

The old energy order is upended

On a recent chilly winter morning, Iran was in a state of palpable excitement with the presence of Putin and several other heads of state in the capital, Tehran. As the Iranian press spoke about the ‘real coalition against evil”, the limited social media platforms in that country saw youngsters in convivial overdrive over the once powerful giant, Russia. During his address to the heads of state and the Rouhani government in Iran, Putin decided to wear something uncommon — a smile.

China’s Two-Speed Economy Stays Intact as Factories Slump, Services Gain

China’s economic rebalancing remained intact as the first economic reports of 2016 signalled manufacturing weakened for a fifth straight month, the longest such streak since 2009, even as a gauge of services rose to the highest level in more than a year.

Gold and silver in 2016: a prediction

The surging dollar, prospect of higher interest rates in the US and the slump in commodity prices bore down on precious metals in 2015. While gold prices dropped 10 per cent, silver slid 12 per cent and platinum slumped by a sharp 26 per cent on worries of drop in demand for diesel cars in Europe (after the Volkswagen emission scandal).





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