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Monday, January 30, 2023

Economy

Russian central bank cuts key rate to 9.5%, borrowing costs back to pre-war level

Moscow (The Times Groupe)- The Russian central bank cut its key interest rate by 150 basis points to 9.5% in June, bringing borrowing costs back to levels before the war in Ukraine.

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Russian central bank cuts key rate to 9.5%, borrowing costs back to pre-war level

Moscow (The Times Groupe)- The Russian central bank cut its key interest rate by 150 basis points to 9.5% in June, bringing borrowing costs back to levels before the war in Ukraine.

Oil up over rising demand in China versus tight supply fears

World (The Times Groupe)- Oil prices rose on Tuesday due to tight supply concerns as Chinese demand is likely to rebound from COVID19 restrictions, while OPEC+ output levels are believed to fall short of demand.

Russia vows to stop natural gas shipments to Danish Orsted, Shell Energy Europe

Moscow (The Times Groupe)- Russia's Gazprom has threatened to cut off its natural gas flow to Denmark's Orsted and Shell Energy Europe starting Wednesday over their refusal to pay in rubles in the wake of the Ukraine war.

Germany to restart Ukrainian grain exports to Africa

Dakar (The Times Groupe)- German Chancellor Olaf Scholz said on Sunday that Berlin will actively work to prevent the halting of grain exports from Ukraine to Africa due to Russia's invasion.

Russia’s ruble hits strongest level since April 2018

Moscow (The Times Groupe)- The Russian Ruble hit its strongest level against the dollar in four years on Monday as Moscow backed the currency.

Starbucks to exit Russia after nearly 15 years

Moscow (The Times Groupe)- Starbucks Corp (SBUX.O) announced on Monday it is leaving the Russian market after nearly 15 years. The coffee chain joins McDonald's Corp (MCD.N) in marking the end of some of the top Western brands in the country.

Russia stops natural gas delivery to Finland

World (The Times Groupe)- In a high inflationary environment, the decline that began in November last year in the crypto money market has continued.

Finland’s brewery launches NATO branded beer

Helsinki (The Times Groupe)- The Savonlinna brewery has decided to launch NATO branded beer.

Russia to shut off gas to Finland from Saturday: Gasum

Helsinki (The Times Groupe)- Russia may have made its first retaliatory move against Finland after Helsinki officially applied to join NATO.

Russians top foreign buyers as Turkish house sales mark record April

Istanbul (The Times Groupe)- The sales of residential property in Turkey rose by nearly 40% year over year in April, official data showed, as the upward trend continued despite high borrowing costs and rising prices.

UK sanctions Russian airlines to prevent them selling landing slots

London (The Times Groupe)- The British government today announced new sanctions against the Russian airline sector to prevent state-owned Aeroflot, Ural Airlines and Rossiya Airlines from selling unused landing slots at British airports.

McDonald’s leaving Russia altogether

New York (The Times Groupe)- After temporarily closing 800 of its restaurants due to the Russian invasion of Ukraine, McDonald's has decided to leave Russia altogether after 30 years of business.

India bans wheat exports causes global prices jump

World (The Times Groupe)- The global wheat prices in markets have risen after India banned the export of the staple cereal.

Russian assets of France’s Renault become state property

Paris (The Times Groupe)- After France decided to leave Russia due to Moscow's war on Ukraine, Renault's assets in Russia have become state property, the Industry and Trade Ministry announced on Monday.

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