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☆ 35 secret terms only cruise workers know — and the ones you don't want to hear as a passenger
▼ + stars: | 2023-03-29 | by ( Hannah Towey | ) www.businessinsider.com time to read: +7 min

Cruise workers have their own secret language they use to communicate with one another. That's because crew members have dozens of secret code words and sayings they use to communicate while keeping passengers in the dark. Insider compiled a dictionary of cruise ship language based on interviews with cruise workers, previous reporting, and industry blogs. GUSTAVO GRANADO/AFP via Getty ImagesBabaloo: Alternatively spelled "Babalu," this is widespread cruise worker slang that means "fool" or "idiot." Cruise to Nowhere: Also called a "stay-cation" by some cruise workers, this is when a ship cruises at sea without stopping at any ports.

☆ Mistakes by the US's top spies allowed China to turn a deadly mid-air collision into an intelligence coup
▼ + stars: | 2023-03-22 | by ( James Bamford | ) www.businessinsider.com time to read: +36 min

On April 1, 2001, a US EP-3 spy plane collided with a Chinese fighter jet over the South China Sea. One of eleven left in the fleet, the tired 1960s-era spy plane bristled with porcupine-like antennas. Within minutes, however, the fighters had reached the lumbering spy plane, and while Zhao Yu hung back about a half-mile, Wang Wei rapidly closed in. In severe trouble, he immediately radioed the base, telling them he was unable to maneuver and being sucked in by the spy plane. "You are not allowed aboard the aircraft," Osborn said.

☆ Why Spanish baby eels are so expensive
▼ + stars: | 2023-03-17 | by ( Claudia Romeo | Pj Rickards | ) www.businessinsider.com time to read: +1 min

Baby eels are a delicacy in Spain. A single kilogram can reach thousands of dollars at auction. To reach just 1 kilo, fishers need to catch 3,000 eels. They are a delicacy in Spain, where a single kilogram can reach thousands of dollars at auction. Fishers need to catch 3,000 eels to reach just 1 kilo, a task that requires spending entire nights in the water, in total darkness, braving strong tides and stormy seas.

[1/3] A customer counts money before paying at a butcher shop, as inflation in Argentina hits its highest level in years, causing food prices to spiral, in Buenos Aires, Argentina September 13, 2022. REUTERS/Agustin MarcarianSAN FERNANDO, Argentina, March 14 (Reuters) - Argentina's annual inflation rate tore past 100% in February, the country's statistics agency said on Tuesday, the first time it has hit triple figures since a period of hyperinflation in 1991, over three decades ago. In Argentina's markets, shops and homes, the impact of spiraling prices is being felt keenly as one of the highest inflation rates in the world stretches people's wallets. Patricia Quiroga, 50, said 100% inflation was impossible to bear as she waiting on line to do her shopping. "I am tired, tired, just tired of all this, of the politicians who fight while the people die of hunger," she told Reuters.

☆ Indonesian officials call for audit after Pertamina fire kills 13
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +2 min

[1/3] Firefighters try to extinguish a fire at a fuel storage station operated by Indonesia's state energy company Pertamina, in Jakarta, Indonesia, March 3, 2023. REUTERS/Willy KurniawanCompanies Pertamina (Persero) PT FollowJAKARTA, March 4 (Reuters) - Indonesian officials called for an investigation and an audit of state energy company Pertamina's (PERTM.UL) facilities after a fire at its storage facility killed 13. "I have ordered Pertamina to immediately investigate this case thoroughly," State-Owned Enterprise Minister Erick Thohir said via his Instagram page. Sugeng Suparwoto, who heads parliament's energy committee, called for an audit of Pertamina's facilities. Sugeng also said there should be a bigger distance between Pertamina's storage facilities and residential areas.

☆ Fire at Indonesia's Pertamina fuel storage station kills 17
▼ + stars: | 2023-03-03 | by ( Yuddy Cahya Budiman | ) www.reuters.com time to read: +3 min

[1/5] Firefighters try to extinguish a fire at a fuel storage station operated by Indonesia's state energy company Pertamina, in Jakarta, Indonesia, March 3, 2023. REUTERS/Willy KurniawanCompanies Pertamina (Persero) PT FollowJAKARTA, March 3 (Reuters) - At least 17 people were killed when a fire broke out on Friday at a fuel storage station operated by Indonesia's state energy company Pertamina (PERTM.UL) in the capital Jakarta, an official at the city's main firefighting unit said. A Pertamina spokesperson said late on Friday that the fire had been extinguished at about 10.30 p.m.Fire was still seen around residents' houses after that, a firefighting station official said on the unit's Instagram account. Near the storage station, residents crowded the area while firefighters carried orange body bags from the fire. The fuel station has a capacity of over 300,000 kilo-litres, according to the country's energy ministry.

☆ Marijuana legalization has stalled in Mexico, but farmers and cartels are still making big plans to profit off a new market
▼ + stars: | 2023-02-22 | by ( Luis Chaparro | ) www.businessinsider.com time to read: +8 min

An effort to legalize marijuana in Mexico has stalled after several years of debate by lawmakers. But Mexican cartels and independent growers are still preparing to cater to a new domestic market. The Sinaloa Cartel in particular is drawing business lessons from marijuana dispensaries in the US. At the current price for weed, Margarita gets roughly $25 a kilo. A marijuana legalization activist smokes marijuana in front of the San Lazaro Legislative Palace in Mexico City in October 2022.

☆ Rising tensions with Russia have NATO militaries worried about the revival of a Cold War-era submarine threat
▼ + stars: | 2023-02-16 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +9 min

A top concern is that those subs could be used to attack or interfere with undersea cables and pipelines. Ander Gillenea/AFP/Getty ImagesConcern about Russia's expanding underwater capabilities and the danger they pose to critical underwater infrastructure has risen since Russia seized Crimea in 2014. Since then, Russian submarines have deployed more often and for longer and their activity close to critical undersea infrastructure has increased. Recent Russian submarine activity does suggest an increasing focus on being able to get into the Atlantic and closer to the US East Coast. At a Senate hearing in February 2020, the head of US European Command was asked if US forces have "sufficient visibility" on Russian submarines in the Atlantic.

Elected last June, President Ferdinand Marcos Jr has struggled to fulfil campaign promises to bring down inflation, which hit 8.7% in January, driven by an 11.2% jump in food prices, the biggest since 2009. Imported onions, bought mostly from India and China, require sanitary and phytosanitary permits for quarantine and biosecurity purposes. Steep price rises for eggs and sugar have also whacked up the cost of putting food on the table. Reuters Graphics Reuters Graphics'UNSOLVED' SUPPLY PROBLEMSOfficials say the high inflation was transitory and should ease once supply issues are addressed. Philippines' onion demand and supply($1 = 54.52 Philippine pesos)Additional reporting by Karen Lema and Eloisa Lopez; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

☆ This 52-year-old early retiree left the U.S. for Portugal—a look at his typical weekend: 'I spend less than $40'
▼ + stars: | 2023-02-11 | by ( Alex Trias | ) www.cnbc.com time to read: +4 min

On weekends when I'm out and about, I spend less than $40 a day:Start the day with coffee and breakfastPrice per person: $6.31 Lisbon is paradise for breakfast lovers. Take a train to the seashore and rent bikesPrice per person: $11.34 A one-hour train ride from Lisbon's historic Cais do Sodré station to the fishing village of Cascais costs $4.92 (round trip). We like to stop by on weekends, and it is conveniently located on the train ride back from Cascais. Our daughter loves bargain hunting at the Feira da Ladra, a popular flea market located within the Alfama district of Lisbon. Photo: Alex TriasI also enjoy the weekend flea market in Principé Real, where you'll find plenty of delicious artisanal honey, cheese and cured sausages.

☆ From 'babaloo' to 'slop chest,' these are 35 secret terms only cruise workers know — and the ones you don't want to hear as a passenger
▼ + stars: | 2023-02-09 | by ( Hannah Towey | ) www.businessinsider.com time to read: +6 min

Cruise workers have their own secret language they use to communicate with one another. That's because crew members have dozens of secret code words and sayings they use to communicate while keeping passengers in the dark. Insider compiled a dictionary of cruise ship language based on interviews with cruise workers, previous reporting, and industry blogs. GUSTAVO GRANADO/AFP via Getty ImagesBabaloo: Alternatively spelled "Babalu," this is widespread cruise worker slang that means "fool" or "idiot." Slop chest: A tiny convenience store in the crew-only section of a cruise ship that sells essential items.

☆ Onions are now so expensive in the Philippines that they've become a luxury item — and people have been trying to smuggle them across the border
▼ + stars: | 2023-01-27 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +4 min

Onions are now a luxury item in the Philippines. The price of onions soared to $12.80 per kilogram in December, three times the price of chicken. Local authorities seized between $9 million and $11 million worth of smuggled onions in 2022. According to the country's Department of Agriculture, on January 9, onions were going for 600 pesos, or $11, per kilogram. Local authorities seized between $9 million and $11 million worth of smuggled onions in 2022, The Guardian reported.

"If prices keep increasing, rural consumers will move towards smaller pack sizes since there's a strain on wallets," said Alok Shah, a consumer analyst at India's Ambit Capital. Shah said poorer rural consumers could move to cheaper locally-made products instead of those produced by Unilever. HUL, the biggest consumer company in India by sales, said last January that demand in rural India - where average incomes are lower than urban areas - had begun to slow as prices rose. Unilever did not respond to questions on how much of its revenues come from rural consumers. HUL Chief Executive Sanjiv Mehta said, however, the company had begun seeing signs of a pick up in rural sales as inflation eases and farm incomes rise again.

☆ Pearl lobsters cost more than 6 times as much as Maine lobsters. Here's why they're so expensive.
▼ + stars: | 2023-01-17 | by ( Irene Anna Kim | Clancy Morgan | ) www.businessinsider.com time to read: +1 min

Tropical rock lobsters, called pearl lobsters by Indonesian locals, can sell for $99 per kilo. Pearl lobsters are difficult to breed and feed in captivity but prized for their sweet taste. Commercially-bred pearl lobsters sell for about $50 per kilogram, while wild-caught pearl lobsters sell for $99 per kilogram. This makes pearl lobsters more than 6 times more expensive than Maine lobsters, which go for $15 a kilogram. So what makes pearl lobsters so special, and why are they so expensive?

☆ Gold surges to 6-month high, and analysts expect new records in 2023
▼ + stars: | 2023-01-03 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Denis Balibouse | ReutersLONDON — The price of gold notched a six-month high early on Tuesday, and analysts believe the rally has further to go in 2023. Looking ahead, Hansen suggested the key events for gold prices would be Wednesday's minutes from the latest U.S. Federal Reserve meeting and Friday's U.S. jobs report. A full dovish pivot by central banks this year would likely have major implications for gold prices, according to strategists. "It is our opinion that central banks will pivot on their rate hikes and become dovish during 2023, which will ignite an explosive move for gold for years to come. We therefore believe gold will end 2023 at least 20% higher, and we also see miners outperforming gold with a factor of two."

☆ Gold eases as U.S. dollar ticks up
▼ + stars: | 2022-12-28 | by ( ) www.cnbc.com time to read: +1 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices eased on Wednesday pressured by an uptick in the U.S. dollar, having risen 2% in the previous session following China's decision to further ease Covid restrictions. The dollar index edged up 0.1%, making greenback-priced gold more expensive for overseas buyers. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.6% to 918.51 tonnes on Tuesday. Spot silver lost 0.4% to $23.95, platinum slipped 0.5% to $1,015.17 and palladium fell 0.5% to $1,821.28.

☆ Head of major Russian shipyard dies suddenly, no cause given
▼ + stars: | 2022-12-24 | by ( ) www.reuters.com time to read: +1 min

Dec 24 (Reuters) - A major Russian shipyard that specialises in building non-nuclear submarines said its general director had died suddenly on Saturday after 11 years in the job, but gave no details. Admiralty Shipyards, based in the western port of St Petersburg, announced the death of Alexander Buzakov in a statement. His main achievement, it said, had been preserving and strengthening the shipyard's order books for modern non-nuclear submarines, surface ships and deep water vehicles. Tass news agency said the shipyard is building improved Kilo-class diesel-powered submarines capable of launching Kalibr cruise missiles. St Petersburg is the home city of President Vladimir Putin.

☆ Gold rangebound as traders await economic data
▼ + stars: | 2022-12-22 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold edged up on Thursday, helped by a softer dollar in holiday-thinned trading, but prices moved in a tight range as market participants awaited economic data for further direction. Spot gold rose 0.2% to $1,818.40 per ounce as of 0225 GMT. The Federal Reserve lowered its pace of rate hikes gradually to 50 bps in December after four straight 75 bps rate hikes. However, Fed Chair Jerome Powell has signaled that the U.S. central bank will deliver more rate hikes next year.

Ukraine has shared a list with European countries of some 10,000 items it urgently needs to maintain power. Since early October, Russian forces have targeted Ukraine's energy infrastructure, causing blackouts and forcing millions of people to endure sub-zero temperatures with little or no heating. As stockpiles of state-owned European power grids dwindle, Lorkowski expected the private sector to become more important in meeting Ukraine's energy infrastructure needs. A first tranche of U.S. power equipment worth $13 million has been shipped to Ukraine, officials said, and two more planeloads were due to leave shortly. Olena Osmolovska, director of the reform support team at Ukraine's energy ministry, said it would cost tens of billions of dollars to fully restore the energy system.

Citing the cool-off, Argentina's central bank held its benchmark interest rate steady at 75% later on Thuesday, extending a pause on hikes after one of the world's most aggressive tightening cycles. The official INDEC statistics agency said rolling 12-month inflation in November hit 92.4%, with prices up 85.3% during the first 11 months of the year. The monthly rate, though, was the lowest since February and well below analyst forecasts of 5.9%. "It is difficult to manage a budget from one month to the next," Natalia Jones told Reuters on the streets of Buenos Aires shopping for vegetables. Eduardo Ortega, manager of a grocery shop in Buenos Aires, said it meant people were cutting back on the amount of food they could buy.

The official INDEC statistics agency said on Thursday that rolling 12-month inflation through November hit 92.4%, with prices up 85.3% during the first 11 months of the year. The monthly rate was the lowest since February and well below analyst forecasts of 5.9%. Despite the monthly slowdown, Argentines are still battling one of the highest inflation rates in the world, which eats away at wages and saps earning power. "It is difficult to manage a budget from one month to the next," Natalia Jones told Reuters on the streets of Buenos Aires shopping for vegetables. Eduardo Ortega, manager of a grocery shop in Buenos Aires, said it meant people were cutting back on the amount of food they could buy.

☆ Gold eases as Fed hints at more rate hikes next year
▼ + stars: | 2022-12-15 | by ( ) www.cnbc.com time to read: +1 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices inched down in early Asian hours on Thursday, after the U.S. Federal Reserve signaled to more interest rates hikes next year. Spot gold slipped 0.1% to $1,806.11 per ounce, as of 0035 GMT. Gold is traditionally known as an inflation hedge but higher interest rates tend to dim the bullion's appeal as it increases the opportunity cost of holding the non-yielding metal. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.1% to 911.56 tons on Wednesday.

☆ Gold slips as dollar firms to kick start big data week
▼ + stars: | 2022-12-12 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices fell on Monday, dragged down by a firmer dollar, while investors positioned for key U.S. inflation data and the Federal Reserve's rate-hike verdict due this week. Investors will keep a close eye on Tuesday's U.S. Consumer Price Index (CPI) data and Fed's final meeting of 2022 scheduled on Dec. 13-14. Additionally, the European Central Bank (ECB) and the Bank of England (BoE) are also set to announce rate hikes this week, as policymakers continue their battle against inflation. Spot silver lost 0.8% to $23.27, platinum fell 0.5% to $1,016.88 and palladium ticked 0.6% lower to $1,938.33.

☆ Gold inches lower as dollar ticks up
▼ + stars: | 2022-12-08 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices eased on Thursday as the dollar recovered slightly, while market participants await further direction on U.S. rate hikes from the Federal Reserve meeting next week. Spot gold fell 0.2% to $1,783.50 per ounce, as of 0248 GMT, after rising more than 1% on Wednesday supported by a pullback in the dollar and U.S. bond yields. The dollar might get weaker and this will anchor gold a bit," Spivak said. Spot silver inched 0.6% lower to $22.60, platinum lost 0.2% to $1,000.67 and palladium was flat at $1,844.20.

☆ Gold struggles for momentum as investors await further Fed cues
▼ + stars: | 2022-12-07 | by ( ) www.cnbc.com time to read: +1 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices struggled for momentum in early Asian trade on Wednesday as investors looked to next week's U.S. Federal Reserve policy meeting for clues on the pace of rate hikes. U.S. gold futures were flat at $1,783.10. Fed fund futures are now pricing in a 91% chance of 50-basis point (bps) rate increase in the December meeting. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.3% to 906.06 tons on Tuesday.

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