Following supply shocks and rising prices caused by the crisis in Ukraine, Indian Prime Minister Narendra Modi told US President Joe Biden last week that India was ready to transport food to the rest of the world. India has “enough food” for its 1.4 billion people, according to Modi, and it is “ready to offer…
Poland’s health minister announced on Tuesday that it will not accept or pay for more doses of COVID-19 vaccine under the European Union’s supply contract, laying the groundwork for a legal battle with makers. During the coronavirus pandemic, Poland and other EU members received COVID-19 vaccines under supply contracts negotiated by the European Commission with…
Donald Trump declared in October that he was going to start a new technological firm. “I created Truth Social… to stand up to the tyranny of big tech,” he said. “We live in a world where the Taliban has a huge presence on Twitter yet your favourite American president has been silenced.” The software was…
Sri Lanka’s president proclaimed a state of emergency in the island nation on Friday, a day after angry protestors demanded his resignation near his home and as plans were being prepared for a nationwide rally over the country’s worst economic crisis in recent memory. President Gotabaya Rajapaksa used parts of the Public Security Ordinance to…
Germany and Austria have activated emergency plans in the event of a gas supply disruption due to a payment dispute with Russia. From March 31, Russia demanded that “unfriendly” countries pay for its gas in roubles, but the EU, which primarily pays in euros, rejected the proposal. Moscow appeared to soften its stance later, indicating…
OPEC+ will keep politics out of its decision-making, according to Saudi Arabia’s oil minister, in favour of the “common good” of stabilizing energy prices. Following Russia’s invasion of Ukraine, governments and international organisations around the world imposed punitive sanctions and severed economic ties with the country, but OPEC — the intergovernmental organisation of 13 oil…
Russia’s war in Ukraine may cause neon production, a vital gas in sophisticated semiconductor manufacturing, to plummet to alarmingly low levels at a time when the world is already facing a chip scarcity. Neon is necessary for lasers used in lithography, a chip manufacturing technique in which machines cut patterns onto tiny wafers of silicon…
According to a high-ranking politician, Russia is considering accepting Bitcoin as payment for its oil and gas exports. According to Pavel Zavalny, “friendly” countries may be permitted to pay in cryptocurrency or local currency. Earlier this week, Russian President Vladimir Putin stated that he would like “unfriendly” countries to purchase Russian gas in roubles. The…
Global banks such as Citigroup Inc, JPMorgan Chase & Co, and Societe Generale are under pressure from rivals and funds to commit to remaining as custodian banks in Russia, as rivals and funds fear losing services vital to future investment in the nation. Three other financial institutions’ traders, bankers, and executives told Reuters they were…
According to recent data, the cost of living in Russia is increasing as a result of the country’s invasion of Ukraine. According to official data, the price of basic household commodities, such as sugar, has risen by as much as 14 per cent in the last week. Inflation is expected to continue to rise in…
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