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War, inflation threaten world economy
The world economy’s fragile recovery from the Covid-induced crisis is now threatened by Russia’s war in Ukraine and soaring commodity prices.
12 March 2022, 18:00 PM
Russia seeks Indian investment in oil and gas
Russia urged India to deepen its investments in the sanction-hit country’s oil and gas sector, and is keen on expanding the sales networks of Russian companies in Asia’s third-largest economy.
12 March 2022, 18:00 PM
US, allies to end normal trade relations with Russia
The United States and its allies moved Friday to end normal trade relations with Russia, as President Joe Biden vowed the West would make Vladimir Putin “pay the price” for his invasion of Ukraine.
12 March 2022, 18:00 PM
G7 urges countries not to restrict food exports
The Group of Seven industrialised nations on Friday urged countries not to limit their food exports over the war in Ukraine after a meeting of their agriculture ministers to discuss the crisis.
12 March 2022, 18:00 PM
In Switzerland inflation is so low, some key costs are actually falling
While the rest of Europe grapples with surging prices, in Switzerland inflation is so tame that some key costs are actually falling.
11 March 2022, 12:31 PM
Spain steel plants close over soaring energy prices
Acerinox became the latest steel producer to halt operations in Spain on Thursday due to surging energy prices caused by Russia’s war in Ukraine.
10 March 2022, 18:00 PM
Russian inflation strikes six-year high
Consumer price inflation in Russia, which has been accelerating for months, hit a six-year high in February, Russia’s national statistics agency said Wednesday.
10 March 2022, 18:00 PM
EU leaders tackle escape route from Russian fossil fuels
European Union leaders will tackle ways to wean themselves off Russian fossil fuels on Thursday and debate how quickly to ditch their key supplier, with countries split over whether to sanction oil and gas imports as Moscow wages war in Ukraine.
10 March 2022, 18:00 PM
Financing issues with selling oil can be solved: Russian Deputy PM
Russian firms have encountered problems in securing financing for April contracts to sell crude and oil products, but the situation can be resolved, Deputy Prime Minister Alexander Novak was quoted as saying by the Interfax news agency on Thursday.
10 March 2022, 11:58 AM
Germany calls on OPEC to increase oil output
German Economy Minister Robert Habeck on Tuesday issued an “urgent appeal” to OPEC oil producers to ramp up output following a spike in prices and supply fears due to the Ukraine crisis.
9 March 2022, 18:00 PM
Experts call for enabling environment
An enabling environment for women entrepreneurs in cottage, micro, small and medium enterprises (CMSMEs) is essential for ensuring sustainable progress in Bangladesh’s economic development, according to various experts.
8 March 2022, 18:00 PM
What would a US ban on Russian oil mean for the world?
The possibility that the United States might ban Russian oil imports has triggered a surge in Brent crude to almost $140 a barrel, its highest level since 2008.
8 March 2022, 18:00 PM
WB approves extra $489m for Ukraine
The World Bank on Monday approved an additional $489-million package in support for Ukraine, to be made available immediately and dubbed “Financing of Recovery from Economic Emergency in Ukraine.”
8 March 2022, 18:00 PM
Ban on Russian oil import to double price to $300
A Western ban on Russian oil imports may more than double the price to $300 a barrel and prompt the closure of the main gas pipeline to Germany, Moscow warned on Monday, as talks on Ukraine hardly advanced amid efforts to agree on civilian safe passage.
8 March 2022, 18:00 PM
Uniqlo stays put in Russia; Netflix, Amex sever ties
Uniqlo owner Fast Retailing will keep its stores in Russia open, joining a small group of international firms that have stayed put even as dozens of big brands pause operations or exit the country over its invasion of Ukraine.
7 March 2022, 18:00 PM
China exports up as trade with Russia surges
Chinese exports in January and February rose a combined 16.3 per cent on surging global demand and a spike in trade with Russia in the run-up to the war in Ukraine, according to customs data released on Monday.
7 March 2022, 18:00 PM
Wheat price hits 14-year highs
Chicago wheat futures rose by more than 6 per cent on Monday to 14-year highs on concern global supplies will be disrupted until the Russia-Ukraine conflict is resolved.
7 March 2022, 18:00 PM
Russian rouble plunges to record low
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.
7 March 2022, 18:00 PM
Oil price spikes to $139
Oil prices spiked to their highest levels since 2008 yesterday amid market supply fears as the United States and European allies considered banning Russian oil imports and prospects for a swift return of Iranian crude to global markets receded.
7 March 2022, 18:00 PM
Russia scrambles to contain sanctions fallout
Black market fears, problems with online payments and the looming spectre of inflation -- Russian officials are scrambling to deal with the effects of sanctions imposed on Russia over its military intervention in Ukraine.
7 March 2022, 18:00 PM