Finance ministers from the Group of 7 wealthy countries said, together they have pledged additional support to Ukraine in excess of $24 billion for 2022 and beyond; they also said, they were prepared to do more as and when required…. Read More ›
Geopolitics
In March, ‘Panicked’ Russians Withdrew $9.8 Billion In Foreign Currency From Banks
Due to the severe financial western sanctions on Russia over its invasion of Ukraine, Russian families withdrew $9.8 billion in foreign currency from their accounts in March, while banks slashed new corporate lending by approximately one-third, according to the coutnry’s central bank. “The… Read More ›
IMF Says Asian Growth Prospects Clouded By China’s Spiking Covid Cases, And Ukraine War
The International Monetary Fund said on Wednesday that rising Covid cases in China and the turmoil in Ukraine represent obstacles for Asia’s growth. “Asia is clearly facing headwinds, both from the war in Ukraine but also from the lingering effects of… Read More ›
Sri Lankan Government Requests Emergency Funding From The IMF
As bailout talks began this week, Sri Lanka said it had requested emergency financial assistance from the International Monetary Fund (IMF). Following India’s representations, the international financial organisation will consider offering aid. Meanwhile, a major credit rating firm predicted “a series… Read More ›
UK Growth To By Slowest Among G7 Countries Due To Ukraine War
The industry had long anticipated the $100 per kilowatt-hour battery cell cost threshold as a sign that electric vehicles had attained price parity with their fossil-fuel counterparts. Economists suggest, however, that with rising gasoline prices and evolving consumer preferences, this… Read More ›
EU embargo on Russian oil being prepared: French Finance Minister
On Tuesday, French Finance Minister Bruno Le Maire said, an embargo on Russian oil at a European Union level was in the pipeline. “I hope that in the weeks to come we will convince our European partners to stop importing… Read More ›
China’s First-Quarter GDP Above Expectations, But March’s Weakness Raises Concerns About Outlook
China’s economy slowed in March as consumption, real estate, and exports all took a hit, putting a damper on faster-than-expected first-quarter growth estimates and weakening an outlook already weakened by COVID-19 restrictions and the Ukraine conflict. The severe new coronavirus rules,… Read More ›
Ukraine completes questionnaire for EU membership
In a significant development, in a statement Ihor Zhovkva, the deputy head of President Volodymyr Zelenskiy’s office, said Ukraine has completed a questionnaire which will form a starting point for the European Union to decide on its membership. The questionnaire… Read More ›
Belarus bans entry of EU registered trucks
In a significant development, Belarus announced a ban on EU registered trucks from entering its territory, said a report from Interfax quoting the transport ministry.
Romania increases defense spending, to buy 32 US F-16 fighter aircraft
In a significant development, Romania, a NATO member, has grounded its entire fleet of MiG 21 LanceR fighter aircraft and will speed up a planned purchase of second-hand F-16s from Norway, said its defence ministry. The Russia Ukraine war is… Read More ›
