Economy

Fed vs. inflation
Trump: Will reveal who will be the new Fed chief after the New Year

Donald Trump is delaying revealing who will be the new head of the Federal Reserve, several media outlets report.

- We will probably announce someone early next year as the new chairman of the Fed, he says in connection with a government meeting, according to AFP.

On Sunday, the president told reporters aboard Air Force One that he had decided who it will be.

White House economic adviser Kevin Hassett is seen as the big favorite to take over.

Putin's Russia
Putin goes to India: Will lobby for oil exports

Russian President Vladimir Putin begins a two-day visit to India on Thursday. Putin wants to increase sales of oil, missile systems and fighter jets in an attempt to revive trade with New Delhi after US pressure, Reuters reports.

Putin is accompanied by his Defense Minister Andrei Belousov and a broad delegation from the business community. According to the news agency's sources, Indian officials are concerned that new deals with Russia could trigger a reaction from Donald Trump, who in August doubled tariffs on Indian goods as punishment for New Delhi's purchase of Russian crude oil.

New Delhi has become one of Moscow's largest buyers of oil after Russia's invasion of Ukraine.

China's global ambitions
Chinese companies reportedly allowed to export rare earths

At least three Chinese producers of rare earths have been granted licenses that allow them to export to certain customers outside the country, Reuters reports, citing sources.

China began designing a new licensing system for rare earths after the meeting between Donald Trump and Xi Jinping in late October that eased trade tensions between the countries.

JL Mag has been granted licenses to supply almost all of its customers, while Ningbo Yunsheng and Beijing Zhong have been granted licenses to export to certain of their customers, according to the sources.