Russia Financial News

growth in the last four months, India’s engineering exports declined in April 2024 by 3.2% to US$8.67 billion primarily due to lower shipments of metals, especially iron & steel and copper. Lower shipment of steel was mainly witnessed in Italy, Nepal, UAE, Netherlands, USA, China, and South Korea among others. Excluding the export of iron and steel, engineering exports recorded a growth of 2.61% during April 2024. A substantial 36.41% decline in exports of Iron and Steel therefore was the single most important reason behind the year-on-year decline in overall engineering exports during April 2024.

Oil prices eased for a fourth straight day on Thursday on worries that U.S. borrowing costs could be hiked again if inflation surged, a move that could hurt oil demand. Brent crude futures fell 27 cents, or 0.3%, to $81.63 a barrel at 0004 GMT. U.S. West Texas Intermediate crude (WTI) futures were down 35 cents, or 0.5%, at $77.14.

China is sending «lethal aid» to Russia for use in its war against Ukraine, Britain's defence minister Grant Shapps said on Wednesday. «Today I can reveal that we have evidence that Russia and China are collaborating on combat equipment for use in Ukraine,» he said in a speech at a London conference. Shapps warned that NATO needed to «wake up» and bolster defence spending across the alliance.

US National Security Advisor Jake Sullivan said Washinton was concerned about China providing inputs to Russia's defence industrial base, adding that the Biden administration has taken action to deal with that in a «concerted way» with its allies and partners. He made the remarks while responding to a query about the UK Defence Minister's statement that the US and the UK have evidence that China could be providing lethal aid to Russia. In response to the question at the press briefing, Sullivan said, «Well, going back to 2022, I've actually stood at this podium and warned about my concern that China might provide weapons — direct lethal assistance to Russia. We didn't see that in 2022. We didn't see that in 2023. We have not seen that to date. I look forward to speaking with the UK to make sure that we have a common operating picture. We have had one; we've been on the same page.

Indian banks have suggested to the US Treasury that its advisories to them should be routed via the finance ministry to ensure speedy implementation, people privy to the development said. Executives from some of the top lenders, including State Bank of India, Punjab National Bank and Canara Bank, met with a six-member US Treasury delegation last month. The discussions focused on Russian payments and a possible breach of the internationally imposed $60 a barrel purchase price on Russian crude.

India is the only country, among the top five steel producing nations, to have seen a growth in production in April, with the others seeing production drop by as much as 7% during the month. China, which is the world's largest producer of steel, has seen its production in April fall more than 7% on year to 85.9 million tonne. Its production from January-April this year, at 343.7 million tonne, is 3% lower as compared to 2023, data from the World Steel Association showed. India, which is the world's second-largest producer of steel, saw production rise by 3.6% to 12.1 million tonne. The country has seen an 8.5% growth in production between Jan-Apr this year, having produced 49.5 million tonne of steel.

PTI on whether he considered himself a PM face of the opposition INDIA bloc."I have no such intention. We (AAP) are a very small party… contesting only 22 seats," Kejriwal said in response.Also Read: Arvind Kejriwal breaks silence on Swati Maliwal assault case: 'Two versions of event'When asked who will become PM if INDIA bloc wins the election, Kejriwal said, “This is an election to save the democracy. We have to save the country from 'taanashai' (dictatorship).

China has sanctioned 12 defense-related U.S. companies and 10 executives over arms sales to Taiwan and to retaliate for earlier American sanctions on Chinese companies tied to Russia

Pentagon has given out the details of a Russian counter space weapon that was launched earlier into the Low Earth Orbit (LEO). This weapon is said to be capable enough of attacking US Space assets. The US said that this launch took place on May 16, 2024.

tactical nuclear weapons that were announced by Russian authorities earlier this month in an apparent warning to senior Western officials who had spoken about the possibility of deeper involvement in the war in Ukraine. It was the first time Russia has publicly announced drills involving tactical nuclear weapons, although its strategic nuclear forces regularly hold exercises. According to a statement by the Defense Ministry released Tuesday, the first stage of the new drills envisioned «practical training in the preparation and use of non-strategic nuclear weapons,» including nuclear-capable Kinzhal and Iskander missiles. The maneuvers are taking place in the Southern Military District, which consists of Russian regions in the south, including on the border with Ukraine; Crimea, illegally annexed from Ukraine in 2014; and four Ukrainian regions that Russia illegally annexed in 2022 and partially occupies.

Russia will likely open its first liquefied petroleum gas (LPG) terminal on the Pacific Ocean coast with joint investments from China by the end of 2025, two industry sources said on Wednesday. Last week, Russian Direct Investment Fund (RDIF) struck an agreement with Chinese petrochemical company Haiwei to finance the marine terminal in Russia's Far East to ship LPG. It did not provide the timings for the project completion.

Inflation in the U.K. fell sharply to its lowest level in nearly three years in April on the back of big declines in domestic bills

Germany’s foreign minister says sending air defense systems to Ukraine to help protect it from Russian cruise missiles, rockets and drones is an “absolute priority.”

Sustained Russian attacks on Ukraine’s power grid in recent weeks have forced leaders of the war-ravaged country to institute nationwide rolling blackouts

London Drugs has confirmed that the cybersecurity breach that forced it to close stores across Western Canada for more than a week was a ransomware attack.

The current Bitcoin bull market is falling short of the highs of 2017, Russian experts claimed on May 20.

bomb threat emails received by around 150 schools in Delhi-NCR early this month are suspected to have been sent from Hungary's capital Budapest, Delhi Police officials said on Tuesday. According to an official, the IP address of these emails has been traced to Budapest and Delhi Police will soon be contacting its counterpart in Hungary for further investigation. The IP (internet protocol) address is a unique identifying number assigned to every device connected to the internet. The mail purportedly sent from a mail.ru server claimed that explosives were planted on the school premises, triggering massive evacuations and searches as panic-stricken parents rushed to pick up their children on May 1.

commodity prices, the 15 constituent Nifty Metal index crossed the 10,000 mark for the first time ever in Tuesday’s session, before closing nearly 4% higher at 9,981. The Nifty Metal index has been on a rising spree, making new highs since the second half of 2023. The index also made new all-time highs in 5 consecutive trading sessions.

“This is 1938," historian Timothy Snyder said at a weekend conference in Estonia. He warned that a Ukrainian defeat would shift the calendar to 1939. Many Americans still don’t fully grasp how serious the international situation has become.

The Environmental Protection Agency warns that cyberattacks against water utilities around the U.S. are becoming more frequent and more severe

India's Russian oil imports rose a nine-month high in April after shipments on non-sanctioned tankers operated by Russia's largest shipping company Sovcomflot resumed, tanker data obtained from shipping and trade sources showed. Refiners in India briefly stopped importing Russian oil in tankers belonging to Sovcomflot after the company's ships, along with its 14 tankers, were designated by Washington in February as being in breach of Western sanctions. The West has imposed the sanctions against Russia since it invaded Ukraine in 2022 and has enacted price caps on oil and oil products loaded at Russian ports aimed at cutting Moscow's oil revenue that funds the war.