Russian oil price cap – and THREE things you need to know this week. (weekly ended 06/12/2022)

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Sharing some Investing and Economic insights:

THREE things you need to know this week;

  1. Ringgit closed higher against the US dollar and other major currencies last week.
  2. Celcom and Digi merger is finally completed, making them the largest telco in Malaysia. KWSP and PNB are among the biggest investors in this new company called Celcom Digi.
  3. Last week, the G7 nations, EU and Australia agreed to set a maximum limit on the price of Russian oil at US$60 per barrel. If it is more, they will not let Russia ships its oil using its tankers, and they will stop companies to insure and finance ships carrying Russian oil. This is to reduce Russia’s ability to continue financing the war in Ukraine. Russia – which is the world’s second biggest producer of crude oil – has threatened to stop exporting oil to countries adopting the measures. This could push the price of oil higher.

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