DAILY DOSE: August 7, 2022
Posted on 08/07/2022
1. COLOMBIA ELECTS FORMER LEFTIST GUERILLA. Gustavo Petro (age 62) is becoming Colombia’s first leftist president. Petro is a former member of the M-19 guerrillas. Colombia Senate president Roy Barreras will swear him in front of some 100,000 people. Petro has pledged free public university education and healthcare changes.
2. Saudi Arabia recorded an 89% increase in oil revenue year-on-year from the second quarter of 2021 to Q2 2022. Oil revenue for the first half of 2022 was 434 billion SAR, compared with 248.7 billion SAR in the first half of 2021, an increase of 75%. Oil revenue for Saudi Arabia fell during the COVID-19 pandemic; however, oil revenues rapidly increased when Russia was sanctioned when Russia invaded Ukraine.
3. Tesla Inc. CEO Elon Musk accuses Twitter of fraud in US$ 44 billion buyout deal, according to court filings. Tesla has officially announced its 3:1 stock split will go into effect on August 25, 2022.
4. TURKEY NEEDS OIL. Turkish President Recep Tayyip Erdogan says his country will extend use of Russia’s Mir payment system. Turkey will switch part of its payments for Russian gas to rubles. Turkey said five banks were at work to extend the use of the Mir payment system.
