In a move regarded as a threat to China’s regional economic ambitions, a multinational rail and shipping project connecting India with the Middle East and Europe was revealed on the fringes of the G20 meeting in New Delhi. The corridor, which would connect India, Saudi Arabia, the United Arab Emirates, Jordan, Israel, and the European…
In response to China’s restriction on Japanese seafood imports following the leak of treated radioactive water from the destroyed Fukushima nuclear power station into the sea, Russia intends to enhance its exports of marine products to China. According to Rosselkhoznadzor, a Russian agency that monitors food safety, 894 Russian enterprises are authorised to export seafood,…
Late on Thursday, India prohibited the exports of non-basmati white rice, the latest step in the country’s fight against skyrocketing food costs. According to the Ministry of Consumer Affairs, the prohibition will “allay the rise in prices in the domestic market” and ensure “adequate availability” of non-basmati white rice in India. More than 40% of…
Three people with firsthand knowledge of the investigation told Reuters that EU antitrust authorities who raided Kering’s Gucci and other fashion companies in April are looking into how they set prices of handbags and leather items for distributors. After Reuters reported the morning raid by the European Union on Gucci’s Milan manufacturing facility, Kering at…
According to academics from the London School of Economics and other universities, Britain’s exit from the European Union is responsible for nearly a third ($316) of the rise in family food expenses since 2019. Britain has been fighting inflation for more than a year, which has been exacerbated by food costs, which have increased by…
The first global approach to regulating cryptoasset and digital markets was published by the international securities watchdog IOSCO on Tuesday, building on the lessons learned from the collapse of the FTX exchange last year, which stoked concerns about consumer safety. As different jurisdictions have their own regulations, the industry, which normally simply needs to comply…
About 70% of Russia’s seaborne Urals oil exports go to India, according to data from two industry sources and Reuters surveillance, which indicated Monday. According to one of the sources, attractive Urals prices translate into high margins for Indian refiners, and term agreements between Russian and Indian enterprises and lower freight charges also contribute to…
In an effort to give First Republic Bank more time to strengthen its balance sheet, U.S. authorities are considering expanding an emergency lending facility that would provide banks with greater help, Bloomberg News reported on Saturday. According to the article, which cited sources with knowledge of the issue, all discussions are in the early stages,…
Bonus payments for Credit Suisse employees have been restricted by Swiss authorities, a move that will punish bankers following a multi-billion franc state rescue of the bank. Credit Suisse was told to “temporarily” suspend “already granted but deferred variable remuneration,” such as shares, awarded in the years up to 2022, according to a statement from…
Russian President Vladimir Putin urged Russia’s billionaires to prioritize nationalism over personal gain and to make investments domestically to support the country’s economy in the face of Western sanctions. Putin spoke directly to Russia’s business elite for the first time since the day he sent his troops into Ukraine on February 24 of last year, telling…
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