EU unlikely to cut Russia off SWIFT for now

The European Union is unlikely at this stage to take steps to cut Russia off from the SWIFT global interbank payments system as it works on a new package of sanctions against Moscow for its action against Ukraine, several EU sources said.
24 February 2022, 18:00 PM

Oil’s journey from worthless in the pandemic to $100 a barrel

In July 2020, just a few months after the Covid-19 pandemic started to spiral out of control, Shell CEO Ben van Beurden declared world oil demand may have passed its peak - all but condemning his company’s core business to eventual obscurity.
24 February 2022, 18:00 PM

EU will impose new sanctions on Russia, freeze its assets

European Union leaders will impose new sanctions on Russia, freezing its assets, halting its banks' access to European financial markets and targeting "Kremlin interests" over its "barbaric attack" on Ukraine, senior officials said on Thursday.
24 February 2022, 11:47 AM

Russia attacks Ukraine: Stocks fall, oil prices surge

Global stocks and US bond yields dived on Thursday, while the dollar, gold and oil prices rocketed higher as Russian forces fired missiles at several Ukrainian cities and landed troops on its south coast.
24 February 2022, 07:18 AM

UAE invests in drones, robots as unmanned warfare takes off

The United Arab Emirates is ploughing money into drones, robots and other unmanned weaponry as autonomous warfare becomes more and more widespread -- including in attacks on the Gulf country by Yemeni rebels.
23 February 2022, 18:00 PM

Punishing Putin: How Biden could cut Russia off from world tech

If Russia further invades Ukraine, the Biden administration could deprive it of a vast swath of low- and high-tech US and foreign-made goods, from commercial electronics and computers to semiconductors and aircraft parts, people familiar with the matter told Reuters.
23 February 2022, 18:00 PM

US opposes Canada’s digital services tax proposal

The United States Trade Representative’s (USTR) office said on Tuesday it opposed Canada’s plan to enact a digital services tax (DST) and urged Canada to abandon plans for such a step.
23 February 2022, 18:00 PM

Russia’s trade flow shifts towards China

The United States is poised to unleash a wider array of sanctions against Russia if Moscow escalates the conflict in Ukraine, denying key Russian financial institutions and companies access to US dollar transactions and global markets for trade, energy exports and financing. read more
23 February 2022, 18:00 PM

Thailand’s economy rebounds in Q4

Thailand’s economy rebounded in the fourth quarter of last year on the back of rising exports and the easing of coronavirus restrictions that allowed tourists to return, senior officials said Monday.
21 February 2022, 18:00 PM

Japan in step with G7 over sanctioning Russia

Japan will in principle take concerted action with the Group of Seven nations in imposing economic sanctions on Russia if that nation invades Ukraine, The Yomiuri Shimbun has learned.
21 February 2022, 18:00 PM

Euro zone recovery regains pace

The euro zone economic recovery regained momentum this month as an easing of coronavirus restrictions gave a boost to the bloc’s dominant service industry, a survey showed, but consumers faced prices rising at a record rate.
21 February 2022, 18:00 PM

Luxury sector undaunted by Covid, soaring inflation

The pandemic and soaring inflation have done nothing to take the shine off luxury brands, from Louis Vuitton to Gucci and Cartier, as the sector hiked prices to notch up stellar profits.
21 February 2022, 18:00 PM

Nickel prices soar on Russia tension

Nickel surged Monday to the highest price in more than 10 years, driven by simmering Ukraine-Russia tensions and tight supplies.
21 February 2022, 18:00 PM

China sanctions Lockheed, Raytheon again

China has placed Lockheed Martin Corp and Raytheon Technologies Corp under sanctions over arms sales to Taiwan, the government said on Monday, at least the third time it has announced punishments against the US companies.
21 February 2022, 18:00 PM

Russia seeks to regulate cryptocurrencies

The Russian finance ministry said Monday it had submitted draft legislation regulating cryptocurrencies, including client identification and a cap on investments.
21 February 2022, 18:00 PM

Turkey woos foreign firms

There is a silver lining to Turkey’s currency crisis and the global supply chain crunch: The country is becoming an attractive alternative at the gates of Europe for foreign firms.
21 February 2022, 18:00 PM

Kuwait Airways signs $6b deal with Airbus

Kuwait Airways announced Monday an expanded $6 billion deal with Airbus for 31 planes, restructuring an agreement reached in 2014. q
21 February 2022, 18:00 PM

Germany to enter recession due to virus

The Bundesbank said on Monday the latest wave of the coronavirus pandemic risked pushing the German economy -- Europe’s largest -- into a technical recession before staging a recovery from the second quarter.
21 February 2022, 18:00 PM

US plans to cut ties with targeted Russian banks if Ukraine is invaded

President Joe Biden’s administration has prepared an initial package of sanctions against Russia that includes barring U.S. financial institutions from processing transactions for major Russian banks, three people familiar with the matter said.
21 February 2022, 18:00 PM

Oil rises as tight market looks to Russian-Western diplomacy

Oil prices rose slightly on Monday as fresh diplomatic efforts to resolve the Ukraine crisis provided some relief from supply concerns that have kept oil prices near $100 a barrel.
21 February 2022, 18:00 PM