Russia Financial News

Russian lawmakers are poised to legalize the nation’s burgeoning industrial crypto mining sector, but could impose strict limits on home-based “private” miners.

base metal are unlikely to gain much from current levels, said experts. Shares of Hindalco, Vedanta and National Aluminium Co ended higher on Friday even as the Nifty Metal index, and benchmarks Nifty 50 and Sensex ended in the red. “Those holding the shares of these companies can continue to do so, but I would not suggest buying these shares at the current levels, except for Vedanta, where investors need to maintain a strict stop loss,” said Aditya Welekar, analyst at Axis Securities. “We are at a level where a large part of the rally has already happened,” he said.

A Russian “crypto ban’ could roll out as early as September 1, top lawmakers in the country have confirmed.

WASHINGTON—Donald Trump claims that neither the Oct. 7 Hamas attack on Israel nor Russia’s full-scale invasion of Ukraine would have happened on his watch, and that the world was an oasis of calm and stability when he was president. The reality was more complicated.

arrested Sahil Khan from Jagdalpur in Chhattisgarh in connection with the Mahadev betting app scam case. The Bollywood actor and fitness coach's arrest came after the Bombay High Court rejected his pre-arrest bail plea. Known for his roles in Bollywood movies such as Style and Excuse Me, Khan initially gained fame through a musical video of Stereo Nation's Nachange Sari Raat.

BEIJING—In 2019, a little-known Chinese carmaker named Zhido went bust after Beijing cut subsidies for the tiny electric cars it made, crushing its sales. Now it is back. Earlier this month, the company released a boxy new mini-electric vehicle called “Caihong," or “Rainbow" in Chinese, which comes in seven pastel colors—including “Mint Mambo"—and has a starting price equivalent to around $4,400.

Bank of Japan kept interest rates unchanged, driving the yen to a fresh 34-year low, while US inflation showed few signs of simmering down. The Japanese yen slumped as BOJ Governor Kazuo Ueda played down the impact on inflation from a weakening currency. While he’s indicated a preference to proceed gradually with rate increases, Ueda is trying to avoid restraining the economy. That’s becoming even more challenging after US data this week indicated inflation accelerated in the first quarter, reinforcing expectations the Federal Reserve is likely to keep interest rates higher for longer.

Mattala Rajapaksa International Airport for 30 years. The airport is near Hambantota, where China operates a port on lease. The airport, built at a cost of $209 million, was once dubbed the «world's emptiest airport» because of a lack of flights. It is strategically located close to the Hambantota port on the southern coast of Sri Lanka.

We sometimes lose sight of how downright weird so much news reporting has become. Imagine you’re the New York Times. Donald Trump might return to the presidency so you report, as the paper did on April 12, on the “distrust" that exists between him and the U.S.

U.S. intelligence agencies have determined that Russian President Vladimir Putin probably didn't order opposition politician Alexei Navalny killed at an Arctic prison camp in February, the Wall Street Journal reported on Saturday. Navalny, 47 when he died, was Putin's fiercest domestic critic. His allies, branded extremists by the authorities, accused Putin of having him murdered and have said they will provide proof to back their allegation.

Copper and aluminium, the most used industrial metals, have gained substantially in the past few weeks. The rally was associated with supply uncertainties and a notable increase in global demand. The Western ban on Russian metals, hopes of US rate cuts, and diversification of holdings of central banks also uplifted the sentiments. Copper futures are hovering near lifetime highs in the key Chinese markets, while they are trading at two-year highs on futures platforms like LME and MCX. Aluminium prices are currently at record levels in Indian markets, gaining over 20 percent since the start of the year.

Palestinian athletes are expected to compete at the Paris Olympics, with some set to be invited by the International Olympic Committee (IOC) even if they fail to qualify, its head Thomas Bach said. Bach told AFP on Friday that qualification events for the Paris Games, which start on July 26, were ongoing for a number of sports.

India's state-run firms' output from overseas oil and gas fields marginally rose in 2023-24 after declining for four straight years. The output, however, remained a fifth below the peak of 2018-19 as producing fields matured and no new overseas assets were acquired in recent years. The share of India's state companies in oil and gas production from overseas fields increased to 19.9 million metric tonnes of oil equivalent (MMTOE) in 2023-24 from 19.5 MMTOE in the previous year. Production at Russia's Skahalin-1 project normalised during the financial year, after being badly affected in 2022 following the launch of the Russia-Ukraine war. ONGC Videsh, India's largest investor in overseas oil and gas fields, has a stake in Sakhalin-1, where production had nearly halted for some time following the exit of its operator Exxon, industry executives said.

According to a regulatory filing, JEMA is one of a range of JP Morgan entities that have been named as defendants in civil proceedings brought by VTB in Russian courts, which were commenced on 17 April. The claim relates to $439m held in a correspondent bank account with JP Morgan Chase Bank's New York branch, which has been blocked due to sanctions. The board of JEMA stated it was unaware of any connection between the trust and «amounts owing to VTB». Smaller board and new manager for reformed JPM Russia portfolio A Russian court granted VTB a freezing order in support of its c...

business connected to Ukraine has been charged with conducting hostile activity to benefit Russia, prosecutors said Friday. Dylan Earl, 20, is connected to Russia's Wagner mercenary group, which the U.K. government has declared a banned terrorist organization, prosecutors said. Earl is accused of fraudulent activity, research and reconnaissance of targets, and attempting to recruit others to assist a foreign intelligence service carrying out activities in the U.K.

illicit trade and unmanned aerial vehicle (UAV) transfer on behalf of the Iranian military, the US Department of Treasury said in an official statement. These companies, individuals and vessels have played a key role in financing and facilitating the clandestine sale of Iranian unmanned aerial vehicles (UAVs) to Russia’s war in Ukraine, it said. According to the US Department of Treasury, Sahara Thunder is the main front company that oversees Iran's commercial activities in support of these efforts.

Kenneth Rogoff, former chief economist of the IMF, is Maurits C. Boas Chair of International Economics at Harvard University. Speaking to Srijana Mitra Das, he discusses the record rise in military expenditure worldwide: Q. Recent reports find global defence spending now amounts to $2443 billion — which economic areas does this impact most? A. While military spending does spin off some technology, by and large, it is not good for growth or consumption because it’s destructive. The United States and Europe are facing pressures today because of Ukraine, the Middle East and potentially Taiwan — but the defence budgets of the West are tuned to a different era. We had a peace dividend after the Berlin Wall fell in 1989 — now, things are going into reverse. This raises the pressure on debt and inflation.

French President Emmanuel Macron is warning that Europe could “die” if it fails to build its own robust defense as Russia’s war in Ukraine rages on

Finnish investigators say a Chinese container ship remains the prime suspect in causing damage last year to a Baltic Sea gas pipeline between NATO members Finland and Estonia

India's engineering goods including steel and machinery exports rose 10.7% year-on-year in March to $11.28 billion, growing in double digits for the second straight month, despite ongoing supply issues caused by disruption to shipping through the Red Sea, a trade body said. Engineering goods, which account for one-fourth of merchandise exports, rose 2.13% in the 2023/24 financial year, to $109.3 billion from a year earlier, Engineering Export Promotion Council (EEPC), a body affiliated with the Commerce Ministry, said in a statement on Thursday. Exports have been dented by a slowdown in global demand, the ongoing Russia-Ukraine war and the Red Sea shipping crisis brought on by conflict in the Middle East, exporters said.

Sweden has officially become a member of NATO, the North Atlantic Treaty Organization, amid rising tensions with Russia. This move comes as part of NATO's efforts to bolster its defences in the wake of Russia's invasion of Ukraine. The addition of Sweden and Finland, which joined earlier, marks the alliance's largest expansion since the 1990s. NATO's Purpose and Membership NATO was established in 1949 to counter Soviet expansion and maintain peace in Europe. It has since grown to include 32 member countries, including the UK, US, Canada, France, Germany, Italy, Spain, and Turkey. Following the Soviet Union's collapse, many Eastern European countries joined, and now, Sweden and Finland have joined the alliance, contributing nearly 300,000 troops.