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Western firms head for exit in Russia
Energy giants BP and Shell, global bank HSBC and the world’s biggest aircraft leasing firm AerCap joined a growing list of companies looking to exit Russia on Monday, as Western sanctions tightened the screws on Moscow over its invasion of Ukraine.
1 March 2022, 18:00 PM
Oil soars as Russian energy supply fears intensify
Oil prices jumped on Monday as Western allies imposed more sanctions on Russia and blocked some Russian banks from a global payments system, which could cause severe disruption to its oil exports.
28 February 2022, 18:00 PM
Russian ruble tanks 30pc
Russia’s ruble plunged nearly 30 per cent against the dollar Monday after world powers imposed fresh, harsher sanctions on Moscow over its invasion of Ukraine.
28 February 2022, 18:00 PM
Russia scrambles to limit fallout of tough sanctions
Russia’s central bank announced a slew of measures on Sunday to support domestic markets, as it scrambled to manage the broadening fallout of harsh Western sanctions over the weekend in retaliation against Moscow’s invasion of Ukraine.
28 February 2022, 18:00 PM
China rejects unilateral sanctions not based on int'l law
Chinese Foreign Minister Wang Yi said that China disapproves of using sanctions as a means to solve problems and rejects unilateral sanctions that are not based on international law.
28 February 2022, 09:51 AM
Ukraine war complicates US inflation fighting effort
The uncertainty created by Russia’s invasion of Ukraine and its impact on the global economy is piling more complexity onto the US central bank’s already tough fight to contain rising prices.
27 February 2022, 18:00 PM
Google blocks Russian channels from earning ad dollars
Alphabet Inc’s Google barred on Saturday Russia’s state-owned media outlet RT and other channels from receiving money for ads on their websites, apps and YouTube videos, similar to a move by Facebook after the invasion of Ukraine.
27 February 2022, 18:00 PM
Thai fresh markets enter digital era
Asst Prof Nattapon Nimmanphatcharin, director-general of the agency, revealed that the Transform Fresh Market Project has been implemented to promote and support SME entrepreneurs, hawker shops, stalls in six pilot provinces – Bangkok, Nakhon Sawan, Nakhon Pathom, Chainat, Sing Buri and Lop Buri.
27 February 2022, 18:00 PM
Ukraine requests ‘emergency financing’ from IMF
Ukraine has requested additional aid from the IMF following the Russian invasion, the fund’s leader Kristalina Georgieva said Friday.
27 February 2022, 18:00 PM
Investors brace for volatility amid Ukraine invasion
Investors were preparing on Saturday for more wild gyrations in asset prices after Western nations announced a harsh set of sanctions to punish Russia for its invasion of Ukraine, including blocking some banks from the SWIFT international payments system.
27 February 2022, 18:00 PM
Russian banks face exclusion
The United States, Britain and European Union ratcheted up sanctions against Moscow on Saturday as Russia continued its assault against Ukraine, saying they would block access to the SWIFT international payment system.
27 February 2022, 18:00 PM
US allows transactions with Afghan govt
The United States on Friday issued new rules that would allow most commercial and financial transactions with Afghanistan while maintaining sanctions against the Taliban, in an effort to ease the flow of humanitarian aid and kickstart the paralyzed economy.
27 February 2022, 18:00 PM
Ukraine invasion dilemma for US Big Tech
US tech giants were under intense pressure to pick a side regarding Ukraine’s invasion, at once facing calls to stand against Moscow’s internationally condemned war but also Kremlin retribution for resistance.
27 February 2022, 18:00 PM
Arabs fear for wheat supplies after Russia invades Ukraine
Russia’s invasion of Ukraine could mean less bread on the table in Egypt, Lebanon, Yemen and elsewhere in the Arab world where millions already struggle to survive.
26 February 2022, 18:00 PM
WTO warns of food price rise amid Ukraine crisis
WTO chief Ngozi Okonjo-Iweala warned Friday about the “economic impacts” of the war in Ukraine, a major wheat exporter, which will hurt consumers around the world.
26 February 2022, 18:00 PM
Western banks face Russian triple whammy
Western executives watched with horror as Russian tanks rolled into Ukraine on Thursday. Bank bosses like Frédéric Oudéa of Société Générale and UniCredit’s Andrea Orcel have more to fear than most.
26 February 2022, 18:00 PM
EU energy concerns spark Russia sanctions rift
The West has agreed an onslaught of sanctions over Russia’s invasion of Ukraine, but resistance from key EU nations fearful of severing their power sources has resulted in them holding off on deploying the “financial nuclear weapon” of banishing Moscow from the SWIFT banking transfer system.
26 February 2022, 18:00 PM
Japan to sanction chip exports to Russia over Ukraine
Japan will impose sanctions on Russia targeting semiconductor exports and financial institutions, Prime Minister Fumio Kishida said Friday after G7 leaders agreed to punish Moscow economically for invading Ukraine.
26 February 2022, 18:00 PM
Has London become a hub for laundered Russian money?
Over the three decades since the fall of Soviet Union and the economic chaos that followed in Russia, many of those who became rich needed a safe heaven for their new-found wealth, and London became just that.
25 February 2022, 12:27 PM
Gold bid, stocks dumped further
Russia’s invasion of Ukraine saw investors scrambling for the safety of gold and the protection of inflation hedges as weeks of brinkmanship came to a head on Thursday.
24 February 2022, 18:00 PM