In a significant development, US Treasury Secretary Janet Yellen said, the United States does not have the legal authority to seize frozen assets of the Russian central bank following its invasion of Ukraine. She also said, it is likely that… Read More ›
Indonesia, the world’s largest supplier of palm oil, has banned shipments of the edible oil since April 28 in an attempt to flood the domestic market with supply in order to control rising cooking oil prices. Despite these strict rules,… Read More ›
Widespread COVID-19 lockdowns confined workers and customers to their homes and significantly disrupted supply lines in April, casting a long shadow over the world’s second-largest economy. In March and April, full or partial lockdowns were imposed in key cities across… Read More ›
Following pressure over its prolonged presence in Russia, Renault has stated that it will sell its majority holding in Avtovaz. The French automaker announced that it will sell its 68 percent stake in Renault Russia to a Russian science institute,… Read More ›
In a significant development a former CEO of Goldman Sachs, Lloyd Blankfein said, he believes the US economy is at risk of slipping into a recession, even as the U.S. Federal Reserve continues to tackle inflation by hiking interest rates. Blankfein… Read More ›
In a statement Belarusian Prime Minister Roman Golovchenko said, Western sanctions have blocked $16 to $18 billion worth of its annual exports to the European Union. Belarus has been hit by sanctions by the West after Russia sent troops into… Read More ›
Prosecutors in France have opened a preliminary criminal investigation after E. coli illnesses connected to a pizza factory for Nestle’s Buitoni brand may have resulted in one person’s death. An inquiry was launched on Thursday on allegations of involuntary murder… Read More ›
In the week ending May 11, equity funds across the globe witnessed a surge in outflows on the back of fears of an economic slowdown and further tightening by central banks as they take steps to stem inflation. In the… Read More ›
Shell has agreed to sell almost 400 of its petrol outlets in Russia to Lukoil, the country’s second largest oil company. Shell Neft, the company’s Russian business, will be sold for an unknown amount. Following Russia’s invasion of Ukraine, many… Read More ›
Analysts have warned that the possibility of a recession has increased after the UK economy fell in March, just as the country was recovering from the pandemic. Higher prices are “starting to bite,” according to the UK statistics authority, with… Read More ›
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