Russia, Belarus squarely in ‘default territory’ on billions in debt
Russia and Belarus are edging close to default given the massive sanctions imposed against their economies by the United States and its allies over the war in Ukraine, the World ...
The week inflation became entrenched
By Maria Demertzis
The events that have unfolded since 24 February have solved one dispute: inflation is no longer temporary.
There are four reasons to expect sustained inflationary pressures and one ...
Putin signs law on using rainy-day fund to buy OFZ bonds, stocks
Russia’s President Vladimir Putin has signed a law on using the country’s rainy-day National Wealth Fund to buy OFZ government bonds and stocks, the RIA news agency reported ...
Food crisis grows as spiralling prices spark export bans
A global food crisis sparked by Russia’s invasion of Ukraine escalated on Wednesday as Indonesia tightened curbs on palm oil exports, adding to a growing list of key producing ...
Russian rouble drops to record lows amid fresh sanctions
Russia’s rouble tumbled to record lows in onshore trading on Wednesday despite measures by Moscow to shore up its battered economy and safeguard hard currency availability amid fresh economic ...
Makers of basic necessities face ‘tradeoff’ supplying Russia with cookies, soap
Makers of everyday staples from Pampers diapers to Dove soap are walking a fine line by continuing to sell their products in Russia, as pressure grows on multinational companies to ...
Bitcoin jumps after apparent Yellen statement quells US clampdown fears
Bitcoin led a rally in cryptocurrencies on Wednesday after what appeared to be a prematurely published US Treasury statement allayed market worries about a sudden tightening of US rules around ...
Global LNG demand growth shifts from Asia to Europe on Russia sanctions
Asia’s liquefied natural gas (LNG) demand growth may cool this year as buyers baulk at record-high spot prices pushed even higher by Europe’s shift to the super-chilled fuel ...
Sovereign wealth funds likely to shun Russia, researcher says
Middle Eastern and Chinese sovereign wealth funds are likely to avoid new deals in Russia for now after its invasion of Ukraine, said the author of a report published on ...
Britain will step up oil production after Russian import phase out
Britain will step up its production of oil and gas after saying it will ban Russian oil imports at the end of the year, transport minister Grant Shapps said on ...
Ukraine invasion sets back Musk’s dream for cheaper EVs, for now
Surging raw materials costs, made worse by Russia’s invasion of Ukraine, could set back the dream of Tesla (TSLA.O) Chief Executive Elon Musk and other auto executives to ...
Harsh words, tough action – how companies have rebuffed Russia
Corporate actions to censure Russia after its invasion of Ukraine vary widely and include some measures required by law and some voluntary, with comments ranging from harsh condemnations to more ...
Oil gains as spectre of sanctions on Russian oil spurs supply worry
Oil prices rose on Tuesday, with Brent surging past $127 a barrel, as the possibility of formal US sanctions against Russian oil exports spurred concerns about oversupply.
Benchmark Brent crude futures ...
Cryptoverse: The young HODLers keeping bitcoin on an even keel
Bitcoin’s been known to freak out when Elon Musk tweets a broken-heart emoji. So why isn’t it flying off the handle as we seem to stand on the ...
Palladium firms near all-time peak on Ukraine, gold above $2,000 per ounce
Palladium attempted to consolidate off an all-time peak in volatile trading on Tuesday as the Russia-Ukraine crisis fuelled worries of a supply squeeze of the metal, while safe-haven gold also ...
How US law enforcement could take control of Russian oligarchs’ assets
The US Justice Department last week launched a task force aimed at choking off assets that Russian oligarchs own in the United States, part of Washington’s efforts to pressure ...
Is the war in Ukraine impacting Russian gas supplies to Europe?
Despite the cascade of Western sanctions on Russia in response to its invasion of Ukraine, one thing hasn’t been affected so far – flows of Russian gas to Europe and ...
Moderna to set up mRNA vaccine manufacturing facility in Kenya
Moderna Inc (MRNA.O) said on Monday it would set up a manufacturing facility in Kenya, its first in Africa, to produce messenger RNA (mRNA) vaccines, including COVID-19 shots.
Moderna ...
Russian rouble hits new record low in thin offshore trade
Russia’s rouble tumbled to a fresh record low in thin offshore trade on Monday, with local markets closed for trading until at least Wednesday.
The rouble weakened to 133.5 to ...
Airlines use hedging, fuel surcharges to offset some pain as oil surges
The price of oil has surged to its highest level since 2008 after Russia’s invasion of Ukraine, adding to airline costs at a time when carriers have been struggling to ...
Confusion, but not panic, reigns in global finance in Russia’s wake
Western allies’ sanctions against Russia have started to blowback in the form of large potential losses for their own banks, companies and investors, often in unexpected ways. In the past, ...
Accounting firms KPMG and PwC to exit Russia
Two of the Big Four accounting firms KPMG and PricewaterhouseCoopers LLP (PwC) on Sunday said they will no longer have a member firm in Russia due to the country’s ...
Russian and Ukrainian weapons compete at Saudi defence show
As the tragic reality of war unfolds in eastern Europe, visitors to a defence show in Saudi Arabia were met with the surreal sight of seeing the latest Ukrainian and ...
Privacy a key concern for tech consumers
Privacy has become increasingly crucial for consumers when deciding which manufacturer or brand they will spend their money on, according to a study by market research company International Data Corporation (...