The London Metal Exchange (LME) has halted trade in nickel after prices touched more than $100,000 per tonne in a surge sources blamed on short covering by one of the world’s top producers. The shock comes at a time when… Read More ›
Entrepreneurship
Google in talks to acquire cybersecurity firm Mandiant
According to a source with knowledge of the discussion, Alphabet Inc’s Google is in talks to acquire cybersecurity firm Mandiant for an undisclosed amount. With the news reaching the market, Mandiant’s shares rose by 16%. Mandiant has a market capitalization of around $4.53… Read More ›
Britain’s nuclear regulator so start approval process for Rolls-Royce’s small nuclear reactor
In a statement the British government said, it has asked its nuclear regulator to start the process for approving Rolls-Royce’s small- scale modular nuclear reactor, which policymakers hope will slash Britain’s dependence on fossil fuels and lower its carbon emissions…. Read More ›
Bulgaria may seek exception from sanctions for importing Russian crude and LNG
On Monday, in a statement Bulgaria’s Prime Minister Kiril Petkov said, while it supports economic sanctions on Russia it will seek an exception on banning Russian natural gas and oil imports. Bulgaria, a member of the European Union as well… Read More ›
Bank of Portugal instructs lenders to freeze accounts of sanctioned entities and people
On Monday, the central bank of Portugal said, it has instructed lenders to freeze the accounts of entities and people who have been targeted by sanctions. Western countries have moved to isolate Russia and have targeted it’s economy and financial… Read More ›
World Bank approves $723M loan and grants for Ukraine
On Monday, the World Bank said its executive board has approved a $723 million loan package and grants for Ukraine. The move is aimed at providing desperately cash to the Ukrainian government to support its budget even as it battles… Read More ›
Russian banks increase usage of China’s SWIFT alternative UnionPay
With VISA and Mastercard deciding to withdraw from Russia following its invasion of Ukraine, the Russia’s central bank said local lenders could look to using China’s UnionPay system. It also went on to add, Russian-issued Mastercard and Visa cards would… Read More ›
US gasoline prices continue to rise, Russia China trade continues to grow despite sanctions
In a statement auromobile club AAA said, U.S. gasoline prices at pump stations have soared by 11% in the last week touching their highest levels since July 2008. Global sanctions on Russia has blocked Russia’s ability to export crude oil… Read More ›
Ukraine introduces export license for key agricultural products
As per a report from Interfax, Ukraine has introduced export licenses for its key agriculture commodities including wheat, corn and sunflower oil. Traders will also need licences to export poultry and eggs. Incidentally, Ukraine is among the world’s leading producers… Read More ›
Denmark boosts defense spending to 2% of GDP by 2033
In a statement Danish Prime Minister Mette Frederiksen said, Denmark will significantly increase its defence budget and aims to slash its dependence on Russian natural gas following Russia’s invasion of Ukraine. Denmark aims to increase its defence spending gradually to… Read More ›
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