In a significant development, Rio Tinto has become the first major mining company to cut ties with Russia related businesses joining an exodus of global companies over its invasion of Ukraine. Sony and Nintendo have also suspended deliveries of their… Read More ›
Adidas said that shutting operations in Russia and Covid-19 difficulties in Vietnam would hurt sales, but an improved China forecast helped the German sportswear company’s shares rise 10% on Wednesday. The firm has approximately 500 storefronts in Russia, accounting for… Read More ›
On Wednesday, Australia’s intelligence chief said, a “troubling new strategic convergence” is taking place between China and Russia. The risk of a “major power conflict” has grown following Russia’s invasion of Ukraine. China’s President Xi Jinping appears to want to… Read More ›
A senior member of Russia’ ruling party has called for nationalising all foreign-owned factories that have closed operations in the country over what Russian President Vladimir Putin termed as a special military operation in Ukraine to cleanse it of Neo… Read More ›
In a statement U.S. President Joe Biden said, the United States would ban the import of Russian crude oil as well as other energy imports in retaliation to its invasion of Ukraine. “We’re banning all imports of Russian oil and… Read More ›
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 ›
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 ›
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 ›
On Monday, the Russian rouble hit a new low in weak offshore activity, with local markets suspended for trading until at least Wednesday. According to Refinitiv data, the rouble fell to 133.5 per dollar after closing at 121.037 on Friday…. Read More ›
According to US Secretary of State Antony Blinken, the US and its European allies are considering blocking importing of Russian oil, and the White House is working with critical Congressional committees on imposing a ban of their own. European countries are significantly… Read More ›
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