Daily Management Review
Economics

WSJ: Venezuelan black market oil trade estimated at $8 billion

The Wall Street Journal reports, referencing expert assessments, that 70% of Venezuela's oil shipments are transported by tankers affected by US sanctions. The day prior, Donald Trump mandated a "full and total blockade" of all sanctioned oil tankers going to or coming from Venezuela. He also...

Marshall Islands are the first in the world to begin paying universal basic income in cryptocurrency

Officials in the Marshall Islands have initiated a basic income (UBI) scheme, according to The Guardian. Through the program, each resident of the Marshall Islands will obtain around $200 every three months. Payments were initially distributed at the end of November, and recipients had the option...

Structural Demand and Policy Risk Keep Gold’s Momentum Intact After a Historic Surge

Gold’s extraordinary rally over the past two years would normally invite caution. Prices have more than doubled, delivering the strongest performance since the late 1970s and propelling bullion into territory that, in earlier cycles, would have triggered expectations of a sharp and prolonged...

After the Fall, Crypto Capital Relearns Risk Discipline

The latest downturn in cryptocurrency markets has acted less like a temporary setback and more like a structural reset in investor behavior. What began as a sharp price correction has evolved into a broader reassessment of how exposure to digital assets should be constructed, priced, and managed....

Transatlantic Energy Tensions Surface as Washington Pushes Back on EU Climate Rules

The U.S. demand that the European Union exempt American oil and gas from the bloc’s methane emissions law until 2035 reflects a widening clash between energy security priorities and climate regulation across the Atlantic. At its core, the request underscores Washington’s concern that Europe’s most...

State Capitalism Recast as Security Policy in Washington

The Trump administration’s move toward buying equity stakes in strategically important companies marks a sharp evolution in how Washington thinks about economic power, national security, and industrial policy. Rather than relying primarily on grants, tax incentives, or regulatory nudges, the...

China to introduce steel export licensing from 2026

Chinese officials are implementing a new licensing system for the export of steel products, coming at a time when steel exports have hit record levels this year. The Chinese Ministry of Commerce announced that, beginning on January 1, 2026, producers will need to secure permits for the export of...

Cooling Inflation Masks a Deeper Strain as High Costs Keep Pressuring American Households

Headline inflation in the United States is moving in a direction policymakers welcome. Price growth is easing, economic activity remains resilient, and wage gains continue to outpace official inflation measures. On paper, this combination suggests that the long and painful inflation shock that...

Fed Charts a Slower Policy Path as Markets Confront Data Blind Spots and an Approaching Leadership Shake-Up

The U.S. Federal Reserve’s latest rate decision has deepened a sense of strategic uncertainty across global markets. After three consecutive cuts designed to ease financial conditions, the central bank is now signalling a pause—reflecting caution over inflation that has failed to retreat...

Powell: The US economy is growing at a moderate pace, inflation remains elevated

Federal Reserve Chairman Jerome Powell announced in a press conference after the meeting that the US economy is expanding at a steady rate. He remarked that "very little" inflation information has been released since the last Federal Open Market Committee (FOMC) gathering in October. This is...
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