Oil prices up as OPEC reaches cut deal

Organization of petroleum exporting countries OPEC have reached a deal with its members to cut crude energy supply by 1.2 million barrels per day from the 33.64 million barrels per day . As a result of the supply cut by opec oil price have surged above $52 barrels per day .
Other non opec members like Russia and the United States are expected to cut supply by 600,000 barrels per day . According to a report from the meeting held today , this will help stabilize oil dependant economies and enhance global trade flow .

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President elect appoints nikki haley for UN ambassador

South Carolina governor since 2011 nikki haley has been appointed as the US ambassador to the United nations by Donald trump for the next administration . Nikki has little experience on foreign policy and has the ability of bringing people together no matter the background . Governor nikki is the daughter to two Indian immigrants and South Carolina's first female governor , first female minority governor also first female to be appointed in a top office by trump's administration .

Chinese (RMB) officially joins the SDR

The international monetary fund IMF have officially announced the inclusion of yuan into the special drawing right with effect from October 1st 2016. This means that the RMB can be used by the 189 members of IMF,and members members of IMF can officially borrow and pay back with RMB. The yuan is now the 5th most active currency to be used globally. The RMB was included in the SDR because of the huge global domestic reform it has gone through over the years which have created a global economic impact. The currency will occupy 10.92 % of the basket. One of the interesting features influencing the use of RMB is the export and import from China.

20 suspected persons arrested over wildfire connection in Israel

The Israeli police have arrested some suspected 20 persons who might have connections to the wildfire that took place four days ago . The fire consumed the carmel forest in haifa Israel forcing more than 60,000 people to evacuate their homes for safety .

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