According to trade sources quoted in media reports, Western countries are declining to interact with Russia at the World Trade Organization (WTO) in Geneva in a coordinated strategy that has already stalled discussions in a variety of sectors. The invasion of Ukraine by Russia, followed by economic isolation as a result of Western sanctions, is…
On Wednesday, China signalled its support for Chinese companies, following days of fears that the United States will delist them, sending stock prices in New York and Hong Kong down. Chinese and American regulators are working on a strategy to cooperate on Chinese equities listed in the United States, according to state media, citing a…
Germany will follow through on plans to develop two LNG terminals and increase natural gas reserves to reduce its reliance on Russian gas following Russia’s invasion of Ukraine, according to Chancellor Olaf Scholz. “We will do more to ensure secure energy supply for our country,” he told lawmakers in a special Bundestag session called to…
The Russian government has imposed restrictions on the use of twitter in some parts of the country, the micro-blogging company has confirmed. “We’re aware that Twitter is being restricted for some people in Russia and are working to keep our services safe and accessible”, the company said in a statement. Following a spat over “censorship,”…
According to cryptocurrency specialists, anonymous Bitcoin donations have raised at least $13.7 million for the Ukrainian war effort. According to Elliptic, a blockchain research firm, the Ukrainian government, NGOs, and volunteer organisations raised the funds by posting their Bitcoin wallet addresses on the internet. So far, over 4,000 gifts have been made, with one anonymous…
Further penalties on Russia have been imposed by the European Union, the United States, and other Western partners for its occupation of Ukraine, including the exclusion of a number of Russian banks from the SWIFT interbank payments system. SWIFT is the primary international payments network in the world. Here’s additional information on what it does…
RWE, the German energy behemoth, and Tata Power, the Indian power company, launched a partnership on Monday that would focus on constructing offshore wind projects in India. RWE Renewables GmbH and Tata Power Renewable Energy Limited signed a memorandum of agreement pertaining to the plans, according to the companies. “India has excellent wind resources, which…
Mexico’s Grupo Financiero Banorte is considering possibilities of making a bidding offer for the Mexican consumer banking unit of Citigroup, said the Mexican company’s chief executive said. “We are starting an analysis of this opportunity, and if we find that a possible transaction adds value to shareholders, we would submit it for their consideration,” Banorte…
Higher energy costs, rising demand, and supply chain concerns drove up consumer prices in December, pushing the UK inflation rate to a 30-year high. Inflation rose to 5.4 per cent on an annual basis, the highest level since March 1992, and up from 5.1 per cent in November, which was also a decade high. Reuters…
A “very tight” labor market and unchecked inflation could force the United States Federal Reserve to raise interest rates sooner than expected and begin decreasing its overall asset holdings as a second economic brake, policymakers at the US central bank said last month. The minutes from the Fed’s Dec. 14-15 policy meeting, which were released on…
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