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Russia accounts for 11% of world oil production; investors worried about stagflation
Oil prices sped higher on Thursday as the war in Ukraine drove a mad dash for resources in an ominous sign for global inflation, while Asian shares eked out gains after reassuring comments from the Federal Reserve helped Wall Street bounce.
3 March 2022, 09:14 AM
Canada economy grew 4.6pc in 2021
Canada’s economy grew 4.6 per cent in 2021, bouncing back from its worst plunge on record the previous year due to the pandemic, the government statistical agency said Tuesday.
2 March 2022, 18:00 PM
Sri Lanka runs out of fuel amid dollar crisis
Sri Lanka’s public transport was crippled Wednesday as buses ran out of diesel, officials said as the country’s foreign exchange crisis worsened with no dollars to import fuel.
2 March 2022, 18:00 PM
Saudi oil giant Aramco shares soar
Saudi energy giant Aramco’s shares rose to a record high on Wednesday amid a surge in global oil prices following Russia’s invasion of Ukraine.
2 March 2022, 18:00 PM
Collateral-free loans made available for digital SMEs
There’s some good news for small-and-medium enterprises (SMEs) based online as Shakti Foundation, a microfinance intuition, has joined hands with Delivery Tiger, a courier and parcel service platform, to disburse collateral-free loans among them, including F-commerce companies.
2 March 2022, 18:00 PM
Oil price surges past $110 as Russia sanctions bite
Asian stocks came under renewed pressure on Wednesday and the price of oil surged past $110 per barrel as investors worried about the impact of aggressive sanctions against Russia for invading Ukraine.
2 March 2022, 07:51 AM
Investors cut Russia exposure
Major investors, including hedge fund Man Group and British asset manager abrdn, said on Tuesday they were cutting their positions in Russia in the wake of the country’s invasion of Ukraine.
1 March 2022, 18:00 PM
China now buys more Iranian oil than before
China’s purchases of Iranian oil have risen to record levels in recent months, exceeding a 2017 peak when the trade was not subject to US sanctions, tanker tracking data showed.
1 March 2022, 18:00 PM
Jaguar Land Rover pauses Russian deliveries
Luxury carmaker Jaguar Land Rover (JLR) on Tuesday paused the delivery of vehicles to Russia, saying the current global situation had presented it with trading challenges.
1 March 2022, 18:00 PM
TotalEnergies stays put in Russia
TotalEnergies condemned what it called Moscow’s military aggression in Ukraine but stopped short on Tuesday of joining rivals Shell and BP in planning to exit positions in resource-rich Russia.
1 March 2022, 18:00 PM
Western firms head for exit in Russia
Energy giants BP and Shell, global bank HSBC and the world’s biggest aircraft leasing firm AerCap joined a growing list of companies looking to exit Russia on Monday, as Western sanctions tightened the screws on Moscow over its invasion of Ukraine.
1 March 2022, 18:00 PM
Oil soars as Russian energy supply fears intensify
Oil prices jumped on Monday as Western allies imposed more sanctions on Russia and blocked some Russian banks from a global payments system, which could cause severe disruption to its oil exports.
28 February 2022, 18:00 PM
Russian ruble tanks 30pc
Russia’s ruble plunged nearly 30 per cent against the dollar Monday after world powers imposed fresh, harsher sanctions on Moscow over its invasion of Ukraine.
28 February 2022, 18:00 PM
Russia scrambles to limit fallout of tough sanctions
Russia’s central bank announced a slew of measures on Sunday to support domestic markets, as it scrambled to manage the broadening fallout of harsh Western sanctions over the weekend in retaliation against Moscow’s invasion of Ukraine.
28 February 2022, 18:00 PM
China rejects unilateral sanctions not based on int'l law
Chinese Foreign Minister Wang Yi said that China disapproves of using sanctions as a means to solve problems and rejects unilateral sanctions that are not based on international law.
28 February 2022, 09:51 AM
Ukraine war complicates US inflation fighting effort
The uncertainty created by Russia’s invasion of Ukraine and its impact on the global economy is piling more complexity onto the US central bank’s already tough fight to contain rising prices.
27 February 2022, 18:00 PM
Google blocks Russian channels from earning ad dollars
Alphabet Inc’s Google barred on Saturday Russia’s state-owned media outlet RT and other channels from receiving money for ads on their websites, apps and YouTube videos, similar to a move by Facebook after the invasion of Ukraine.
27 February 2022, 18:00 PM
Thai fresh markets enter digital era
Asst Prof Nattapon Nimmanphatcharin, director-general of the agency, revealed that the Transform Fresh Market Project has been implemented to promote and support SME entrepreneurs, hawker shops, stalls in six pilot provinces – Bangkok, Nakhon Sawan, Nakhon Pathom, Chainat, Sing Buri and Lop Buri.
27 February 2022, 18:00 PM
Ukraine requests ‘emergency financing’ from IMF
Ukraine has requested additional aid from the IMF following the Russian invasion, the fund’s leader Kristalina Georgieva said Friday.
27 February 2022, 18:00 PM
Investors brace for volatility amid Ukraine invasion
Investors were preparing on Saturday for more wild gyrations in asset prices after Western nations announced a harsh set of sanctions to punish Russia for its invasion of Ukraine, including blocking some banks from the SWIFT international payments system.
27 February 2022, 18:00 PM