Russia Financial News

Rosbank, one of Russia’s biggest banks, has spent around $1.6 million on digital ruble integration – despite the fact that the CBDC pilot is less than two months old.

Ukraine has hosted an international defense industry conference as part of a government effort to ramp up weapons production within the country to repel Russia’s full-scale invasion

The apology by Prime Minister Justin Trudeau for a tribute by Parliament to a man who had fought in a Nazi unit is an important healing step — but more needs to be done, Jewish groups say. Namely, declassifying more of the “secret” information contained in the Deschenes Report.

US aid for Ukraine hangs in the balance after a last-gasp deal to avoid a government shutdown, despite President Joe Biden's attempts to reassure Kyiv it will get what it needs to fight Russia. Barely a week after President Volodymyr Zelensky was in Washington appealing for more funds, the compromise struck in Congress late Sunday dropped new funding for Ukraine amid opposition from hardline Republicans. Biden and his Democratic party say America has a duty to help Ukraine stand up to Russian President Vladimir Putin's brutal invasion, warning that a failure to do so could embolden other autocrats in the future. But the issue has become so politicized in Washington that the fate of vital military aid is now in jeopardy, just as Kyiv tries to make progress in its sluggish counteroffensive before winter sets in. Biden urged Republican House Speaker Kevin McCarthy on Sunday to «stop the games» and said he «fully expects» him to secure passage of a separate bill for Ukraine funding soon. «I want to assure our American allies, the American people and the people in Ukraine that you can count on our support.

Ukraine say they won't give up after a bill to keep the federal government open excluded President Joe Biden's request to provide more security assistance to the war-torn nation. Still, many lawmakers acknowledge that winning approval for Ukraine assistance in Congress is growing more difficult as the war between Russia and Ukraine grinds on. Republican resistance to the aid has been gaining momentum in the halls of Congress.

military instructors to Ukraine, rowing back from reported comments by his defence minister that he wanted to begin training Ukrainian troops in the country. To date, Britain and its allies have avoided a formal military presence in Ukraine to reduce the risk of a direct conflict with Russia. British defence minister Grant Shapps, who was appointed to the role last month, said in an interview with The Sunday Telegraph newspaper that he wanted to deploy military instructors to Ukraine, in addition to training Ukrainian armed forces in Britain or other Western countries. Hours after that interview was published, Sunak said there were no immediate plans to send British troops to Ukraine. «What the defence secretary was saying was that it might well be possible one day in the future for us to do some of that training in Ukraine,» Sunak told reporters at the start of the governing Conservative Party's annual conference in Manchester. «But that's something for the long term, not the here and now. There are no British soldiers that will be sent to fight in the current conflict.» Former Russian President Dmitry Medvedev on Sunday said any British soldiers training Ukrainian troops in Ukraine would be legitimate targets for Russian forces Britain has provided five-week military training courses to around 20,000 Ukrainians over the past year, and intends to train a similar number going forward. In an interview with the Sunday Telegraph, Shapps said there was scope to offer military training within Ukraine after a discussion on Friday with British military chiefs. «I was talking today about eventually getting the training brought closer and actually into Ukraine as well,» he was quoted as saying.

PTI citing experts. The six-member monetary policy committee (MPC)-headed by RBI governor Skhatikanta Das is scheduled to meet for three days beginning October 4. The RBI will announce the decision on Friday (October 6).

Investing.com — It's OPEC+ week ahead and we can expect the drone on how much higher crude prices can go to continue all week.

KYIV (Reuters) — Five more ships are on their way to Ukrainian sea ports using a new corridor opened to resume predominantly agricultural exports, an alternative arrangement to the Black Sea grain deal blocked by Russia, a top Ukrainian official said on Sunday.

International Monetary Fund will begin holding meetings in Ukraine on Sunday to discuss policy goals and challenges with government officials and others there, the Fund's country representative Vahram Stepanyan said on Sunday. Ukraine's economy has been hit hard since Russia launched a full-scale invasion in February 2022, and the government has relied heavily on Western aid to finance social and humanitarian payments. The IMF said last week its mission had begun its second review of a $15.6 billion multi-year loan program for the country.

Afghanistan in the Russian city of Kazan that saw participation from India and representatives of the Taliban called for an inclusive government in Kabul, ensuring rights of women and preventing the Afghan territory from being used for spreading terror. India was represented at Friday’s meeting by its Moscow-based envoy Pawan Kapoor. ET was the first to report that India will participate in the Moscow format meet in Kazan on September 29. The fifth meeting of the Moscow format on Afghanistan also witnessed the participation of special representatives and senior officials from Russia, China, Pakistan, Iran, Kazakhstan, Kyrgyzstan, Turkmenistan and Uzbekistan. Representatives of Qatar, the UAE, Saudi Arabia and Turkiye also attended the meeting as invited parties.

PARIS (Reuters) — A financial transaction under investigation in France involving LVMH owner Bernard Arnault was carried out in full respect of the law, his lawyer said on Saturday.

Textile Industry (CITI) on Friday has elected Rakesh Mehra as Chairman, Ashwin Chandran as Deputy Chairman and Dinesh Nolkha as Vice Chairman for two years- 2023-2025. The decision was made during the organisation’s 65th Annual General Meeting (AGM), held virtually. In a statement, the apex body of textile industry said that Dinesh Nolkha has been elected as the vice-chairman at the 65th annual general meeting. Mehra is the chairman of Banswara Syntex, an integrated textile manufacturer and exporter of yarns, fabrics and garments, having a turnover of Rs 1,400 crore, CITI said. He expressed his commitment to fostering collaborative and inclusive initiatives for the overall growth of the textile sector. Reflecting on the industry’s recent challenges, outgoing Chairman T Rajkumar acknowledged the sector’s resilience, citing a 4.33% growth in the country’s cumulative exports of textiles and apparel in August compared to the previous year. India aims to clock $350 billion in apparel and textiles market size including $100 billion exports by 2030.

closer to $100 a barrel, many investors took profits on the rally given ongoing macroeconomic concerns. Crude prices going above $100 per barrel mark brings inflationary pressures on global economy and will compel central banks to raise interest rates all over again. Front-month Brent November futures settled down 7 cents to $95.31 per barrel at the contract's expiry, up about 2.2 per cent in the week and 27 per cent between July-September.

Dmitry Medvedev suggested Saturday that Moscow may annex more regions of Ukraine, as he marked one year since the Kremlin claimed four Ukrainian territories as its own. Moscow held elections in the four regions this month, but does not fully control any of them and is currently battling a Ukrainian counteroffensive to take them back. «The special military operation will continue until the complete destruction of the Nazi regime in Kyiv,» said Medvedev, who now serves as deputy chair of Russia's Security Council. «Victory will be ours.

Zelenskiy said on Saturday he wants to turn Ukraine's defence industry into a «large military hub» by partnering with Western weapons manufacturers to increase arms supplies for Kyiv's counteroffensive against Russia. He was speaking at a forum his government convened with international producers to discuss how to jointly develop industrial capacity to build and repair weapons in Ukraine despite constant Russian bombardment. «Ukraine is in such a phase of the defence marathon when it is very important, critical to go forward without retreating. Results from the frontline are needed daily,» Zelenskiy told executives representing more than 250 Western weapons producers. «We are interested in localizing production of equipment needed for our defence and each of those advanced defence systems which are used by our soldiers, giving Ukraine the best results at the front today,» he told the forum in Kyiv. Zelenskiy said that air defence and de-mining were his immediate priorities.

ZURICH (Reuters) — UBS on Saturday said it is «not aware» of a probe by the U.S. Department of Justice into alleged sanctions-related compliance failures, following a media report earlier this week.

increased from $7.85 to $8.60. The hike is expected to affect end-consumers, as city gas distribution companies are likely to accordingly raise the prices of compressed natural gas (CNG) as well the piped natural gas (PNG), commonly referred to as the cooking gas.

Thomas Grove, Karolina Jeznach and Drew Hinshaw contributed to this article. Write to Sharon Weinberger at [email protected]

By Andrew Osborn

(Reuters) — Ukraine's air force shot down 30 out of 40 Iranian-made «Shahed» drones launched by Russia in an overnight attack on central and southern regions, regional and military officials said on Saturday.