After oil and gas prices skyrocketed, BP’s profits for the first three months of this year more than doubled. The energy behemoth posted an underlying profit of $6.2 billion, up from $2.6 billion in the previous quarter and well ahead… Read More ›
Economy & Finance
EU bans 3 Russian state-owned broadcasters as part of 6th sanction package
On Wednesday, in a significant development, European Commission President Ursula von der Leyen told EU lawmakers in Strasbourg, the EU will ban three Russian state-owned broadcasters as part of its sixth sanctions package. “They will not be allowed to distribute… Read More ›
Risk of default by big US banks high: Wall Street
In a significant development, fears over the Federal Reserve’s aggressive moves to tame inflation might tip the economy into recession have pushed up costs to insure bonds of Goldman Sachs, Morgan Stanley and Citigroup, which have hit a two-year high. Following… Read More ›
US companies may have to disclose impact of Ukrainian war: SEC
In a statement the US Securities and Exchange Commission said its Division of Corporation Finance has told companies to disclose the impact of Russia’s invasion of Ukraine on their business, including nationalization of assets. In a guidance posted on its website, the… Read More ›
EU Is Split On How To Transition Away From Russian Energy
The European Union countries are divided on how quickly they should reduce their reliance on Russian energy supply. Despite the imposition of sanctions in other areas of commerce, the EU continues to rely substantially on Russian oil and gas. Germany’s… Read More ›
Australia Hikes Interest Rates For First Time In More Than A Decade
For the first time in more than a decade, Australia’s central bank has hiked interest rates. As Australia prepares for an election that will be primarily focused on the rising cost of living, the increase will put additional strain on… Read More ›
Putin orders retaliatory economic sanctions on unfriendly entities and countries
In a statement on Tuesday, the Kremlin said, Russian President Vladimir Putin has signed a decree on retaliatory economic sanctions in response to “unfriendly actions of certain foreign states and international organisations”. The kremlin did not shed light on which… Read More ›
Germany pledges $10.51 billion to help India achieve climate change goals
In a statement to the media, German Chancellor Olaf Scholz said, Germany has pledged $10.51 billion (10 billion euros) to help India achieve its climate goals following a meeting with Indian Prime Minister Narendra Modi in Berlin. Both leaders highlighted… Read More ›
Russia reroutes internet traffic in Kherson, tightens long term grip over region
In a statement NetBlocks, an internet service disruption monitor, said, Moscow has re-routed internet traffic in the occupied Ukrainian region of Kherson through Russian communications infrastructure. The move is aimed at tightening Russia’s grip on a region where it has… Read More ›
Hungary and Slovakia will be exempt from Russian oil embargo: EC
According to two EU officials, the European Commission may exempt Hungary and Slovakia from an European embargo on Russian oil, given their dependence on Russian crude. The European Commission is expected to finalise a sixth package of EU sanctions against… Read More ›
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