Russia Financial News

The state-run power provider in the Russian republic of Dagestan has asked crypto miners to turn off their rigs this winter to avoid power outages and blackouts.

Ukraine has won praise for stabilizing its economy under dire circumstances

₹19,878 crore. EBITDA, too, saw a healthy 30.2 per cent YoY rise to ₹44,867 crore while the EBITDA margin jumped 390 bps YoY to 17.5 per cent. RIL is a diversified conglomerate and it operates in various sectors, including energy, petrochemicals, retail, and telecommunications.

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By Gilles Guillaume and Diana Mandia

Davos: Supply cuts by OPEC , costly shipments from some traditional Middle East suppliers and geopolitical tension is driving India, the world's third biggest oil importer, to diversify its crude sources and accelerate its energy transition, its Oil Minister Hardeep Singh Puri said. "Whenever there is vulnerability and uncertainty in the market, the transition gets accelerated.

Hardeep Singh Puri said. «Whenever there is vulnerability and uncertainty in the market, the transition gets accelerated. No-one is looking at that», Puri told Reuters in an interview at this week's World Economic Forum in the Swiss ski resort of Davos, referring to attacks by the Houthis on ships in the Red Sea. Puri said that while OPEC+ nations have a right to decide on their energy production, supply cuts against such uncertainty, and the resulting adverse impact on global prices, will dent long term demand. It is «imperative» for India to accelerate its transition to green energy in this scenario, he added. Iraq followed Saudi Arabia in charging a premium for oil supplies to Asian markets which made their crude «more expensive than crude sourced elsewhere», the minister said, noting India is now buying from 37 countries up from 29 earlier.

oil markets will cope with Red Sea disruptions in the short run, although prolonged attacks by the Houthis on ships would lead to a shortage of tankers due to longer voyages and a supply delay, the CEO of Saudi oil giant Aramco said. Amin Nasser told Reuters he expected the oil market to tighten after consumers depleted stocks by 400 million barrels in the last two years, which left OPEC's spare capacity as the main source of additional supply to meet rising demand. Attacks by the Houthis on ships in the Red Sea have forced many companies to divert cargoes around Africa. The Iran-aligned Houthis say they are acting in solidarity with Palestinians during Israel's ongoing war with Gaza. «If it's in the short term, tankers might be available… But if it's longer term, it might be a problem,» Nasser said in an interview on the sidelines of this week's World Economic Forum in the Swiss ski resort of Davos. «There will be a need for more tankers and are they going to have to take a longer journey». Container vessels have been pausing or diverting from the Red Sea that leads to the Suez Canal, the fastest route from Asia to Europe, where about 12% of world shipping passes.

The Canadian government is publicly naming 85 Chinese research institutions that “may pose” a threat to national security and sensitive research.

Canadian government unveiled Tuesday restrictions on research funding to prevent the sharing with China, Iran and Russia of advanced technologies developed by Canadian universities, citing national security concerns. It also published a long list of sensitive research it does not want shared, including artificial intelligence, quantum science, robotics, biotechnology, advanced weapons, space and satellite technology, and human-machine integration.

A Russian senator has claimed the nation’s Central Bank is “turning a blind eye” to firms that use crypto as a payment tool in international trade.

Also Read: Government cuts windfall tax on crude petroleum to ₹1,700/tonne effective tomorrow Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a January 19 expiry, was last trading 0.72 per cent higher at ₹6,051 per bbl, having swung between ₹5,969 and ₹6,109 per bbl during the session, against a previous close of ₹6,008 per barrel. -Analysts say that oil prices may find a ceiling unless production is shut in. Oil markets are still sensitive to tensions in the Middle East, but the base case remains that we'll see no significant disruption to flows, according to OANDA analysts.

Sen. Markwayne Mullin, R-Okla., reacts to the U.S.-U.K. militaries launching strikes against Houthis in Yemen and weighs in on the Iowa caucuses on 'The Bottom Line.'

De Beers made one of the steepest cuts to its diamond prices in years, as the world’s top producer tries to revive gem sales after the market ground to a halt.

Cost of Living LIVE Updates January 16: The cost of living is the amount of money one needs to survive in a given place – and one's most essential needs such as food, water, housing, taxes, cost of commute, healthcare, etc. The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket.

Ukrainian President Volodymyr Zelenskyy is headlining a frenzied first full day of the World Economic Forum’s annual meeting in the Swiss ski resort of Davos

At least $1 trillion of government securities traded daily in the most populous nation and biggest democracy is poised to become the darling of international investors when India this year joins the benchmark for emerging-market debt compiled by JPMorgan Chase & Co. India's entry following Russia’s exclusion after Vladimir Putin's 2022 invasion of Ukraine (and 2014 seizure of Crimea) and when China's sovereign debt is losing its luster, will make Asia's third-largest economy a beneficiary of as much as $40 billion of inflows during the next 18 months, according to Goldman Sachs Group Inc.

Narendra Modi had a telephone conversation on Monday with the President of the Russian Federation, Vladimir Putin and decided to create a roadmap for future initiatives. The two leaders reviewed progress on a number of issues of bilateral cooperation in follow-up to recent high-level exchanges between the two countries, according to officials here.

Leaders of talks on Ukrainian President Volodymyr Zelenskyy’s peace formula say a growing number of countries are working to help set the groundwork for Russia to join one day

Climate, conflict and the rise of artificial intelligence round out a to-do list of global priorities at this year’s edition of the World Economic Forum gabfest of business, political and other elites

Germany’s economy shrank 0.3% last year as Europe’s former powerhouse struggled with more expensive energy, higher interest rates, a lack of skilled labor and a homegrown budget crisis