Russia Financial News

Russian business leaders want to use “digital assets” and a “single digital currency” to trade with BRICS members and other “friendly” nations.

exports received a much-need boost on account of free trade agreements (FTAs) with UAE and Australia with shipments to both nations surging 9% in April-August period of the financial year 2023-24 even as overall engineering exports slipped during the period under review. Engineering exports to UAE in April-August period of FY24 increased 9% year-on-year to $2.24 billion. In the same period, engineering exports to Australia also jumped 9% year-on-year and stood at $596.14 million as compared to $548.62 in April-August period of FY23. Overall engineering exports in April-August period of 2023-24 dropped 4.55% to $44.62 billion as against $46.74 billion in April-August period of 2022-23. Notably, engineering exports to Russia surged 178% year-on-year to $568.41 million in April-August period of FY24.

A new report about policing of Metro Vancouver port terminal facilities says there’s “literally no downside” for organized criminals to set up shop, and one British Columbia city is sounding the alarm.

Oil prices fell in early trade on Friday after a recent rally, as profit-taking and expectations of supply increases by Russia and Saudi Arabia outweighed forecasts of positive demand from China during its Golden Week holiday. Brent November futures which expire on Friday were down 21 cents to $95.17 per barrel. Brent December futures lost 10 cents to trade at $93.00 per barrel at 0055 GMT. U.S.

«Going ahead, the weakness in the market is likely to extend till the worry over the elevated oil prices and higher interest rates remains, posing a risk to the earnings growth trajectory,” said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Here's breaking down the pre-market actions: STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a negative start GIFT Nifty on the NSE IX traded higher by 25.5 points, or 0.13 per cent, at 19631.5, signaling that Dalal Street was headed for negative start on Friday.

A deal for Saudi Aramco to buy a $US500 million ($778 million) stake in one of the North American suitors for Origin Energy will bring the oil giant into the Australian LNG sector for the first time and has raised questions around foreign investment approval for the $18.7 billion takeover.

space exploration, NASA astronaut Frank Rubio, along with two Russian cosmonauts, has returned to Earth after an unprecedented 371-day mission. Rubio's name now shines in the annals of space history for achieving the longest US spaceflight.

Restrictions on food exports are spilling over from rice and wheat to other essentials

NEW DELHI : Oil India Ltd (OIL) has appointed legal and tax consultants to explore ways to repatriate its $150 million in dividend stuck in Russia, the state-run firm’s chairman and managing director Ranjit Rath said. In an interview, Rath said the money is currently parked in SBI’s Moscow branch. OIL is part of two Indian consortiums that have stakes in several Russian oilfields in Siberia.

New Delhi: State-owned Steel Authority of India Ltd (SAIL), the largest steel producer in the country, is ensuring it has adequate coking coal stock through imports from Russia and will complete imports of 300,000 tonnes from Russia by the end of this month. The company is looking to bring in 3,00,000 tons of coking coal by the end of this quarter (July – Sept), Amarendu Prakash, Chairman of SAIL, told Mint on the sidelines of the Indian Steel Markets conference here today. “It is a continuous thing; we buy from them continuously.

Germany and Israel have signed an agreement for Berlin to buy the sophisticated Arrow 3 missile defense system, designed to intercept long-range ballistic missiles

Restrictions on food exports are spilling over from rice and wheat to other essentials

U.S. oil prices soared Wednesday to their highest level in more than a year. Most frackers plan to stay on the sidelines.

China has bought several hundred thousand metric tons — trad Chinese importers are believed to have made large purchases of animal feed corn from Ukraine in the past two weeks, traders in Asia and Europe said on Thursday, providing a boost for the war-ravaged country from an unlikely source. The traders were unable to say the exact volumes but several said they amounted to several hundred thousand metric tons. A Ukrainian government source also confirmed corn sales to China, a key ally of Russia, particularly since Moscow's full-scale invasion of Ukraine in February 2022. «Importers in China have bought around 10 to 12 Panamax cargoes of Ukrainian corn for November/December shipment,» said a Singapore-based trader at an international grains trading company, referring to a size of ship with a capacity that typically exceeds 60,000 tons of grain. «Ukraine is the cheapest origin for corn as of now,» the trader said. A Ukrainian government source said: «I cannot tell you the volume, but I know that many (traders) did it and it is a good trend (for Ukrainian corn).» Russia has tried to impose a de facto blockade on seaborne Ukrainian grain exports through the Black Sea.

NATO Secretary-General Jens Stoltenberg met with President Volodymyr Zelenskyy to discuss the status of the war and needs of troops on Thursday, the day after Russia accused Ukraine's Western allies of helping plan and conduct last week's missile strike on the Black Sea Fleet's headquarters on the annexed Crimean Peninsula. Zelenskyy said Stoltenberg agreed to make efforts to get NATO members to help provide additional air defense systems to protect Ukraine's power plants and energy infrastructure that were badly damaged in relentless and deadly attacks by Russia last winter. He also reminded the secretary-general of the persistent attacks that often strike civilian areas, including 40 drone attacks overnight.

German inflation fell in September to its lowest level since Russia launched its full-scale invasion of Ukraine, signalling what could be the beginning of the end for the high inflation that has weighed heavily on Europe's largest economy. German consumer prices, harmonised to compare with other European Union countries, rose by an annual 4.3% in September, preliminary data from the federal statistics office showed on Thursday. Analysts polled by Reuters had forecast a fall to 4.5% from 6.4% year-on-year in August. Germany's core inflation rate, which excludes volatile items such as food and energy, fell to 4.6% year-on-year from 5.5% in August. Food prices continued to show above-average growth, posting a 7.5% year-on-year increase.

Binance CEO Changpeng Zhao has distanced himself and the company from the ownership of CommEX, the newly launched digital asset exchange that will take possession of Binance’s Russian entity. 

By Andy Home

By Florence Tan and Mohi Narayan

After India’s landing of its Chandrayaan-3 rover on the moon last month — becoming the first country to put a spacecraft near the lunar south pole and breaking China’s record for the southernmost lunar landing – a top Chinese scientist has said claims about the accomplishment are overstated. Ouyang Ziyuan, lauded as the father of China’s lunar exploration program, told the Chinese-language Science Times newspaper that the Chandrayaan-3 landing site, at 69 degrees south latitude, was nowhere close to the pole, defined as between 88.5 and 90 degrees. On Earth, 69 degrees south would be within the Antarctic Circle, but the lunar version of the circle is much closer to the pole. “It’s wrong!” he said of claims for an Indian polar landing.

This question is playing out in households around the world as they face shortages of essential foods like rice, cooking oil and onions. That is because countries have imposed restrictions on the food they export to protect their own supplies from the combined effect of the war in Ukraine, El Nino’s threat to food production and increasing damage from climate change. For Caroline Kyalo, a 28-year-old who works in a salon in Kenya's capital of Nairobi, it was a question of trying to figure out how to cook for her two children without onions.