Russia Financial News

rupee depreciated 29 paise to end near its two-week low of 83.04 a dollar. The yen was at 147.66 per dollar, just shy of 147.8 per dollar, the lowest since November 4 it touched overnight. The euro was unchanged at $1.0721, having breached a three-month low of $1.0705 overnight.

G20 summit in New Delhi on September 9-10. Instead, Premier Li Qiang will represent China, according to a brief announcement from the Chinese Foreign Ministry. While the ministry's spokesperson Mao Ning chose not to elaborate on Xi's absence, he did stress China's commitment to the G20's goals of global economic cooperation.

Indian stock market is expected to open on a cautious note Wednesday amid mixed global cues. While Asian markets traded mixed, US stock indices ended lower overnight as a rally in crude oil prices stoked inflation worries. Investors remained cautious as crude oil prices surged to 10-month high levels after Saudi Arabia and Russia announced to extend their voluntary oil production cut through the end of the year.

By Arathy Somasekhar

Investing.com-- Oil prices rose further in Asian trade on Wednesday, sticking to 10-month highs as bigger-than-expected supply cuts by Saudi Arabia and Russia pointed to tighter supplies this year.

By Patricia Zengerle

Saudi Arabia and Russia have agreed to extend their voluntary oil production cuts through the end of the year

The European Union’s Commission is reshuffling more of its top management because antitrust chief Margrethe Vestager of Denmark is seeking to become the president of the European Investment Bank

Stocks closed lower on Wall Street as traders return from a long holiday weekend

KYIV, Ukraine—A Russian military pilot who defected to Ukraine last month said he flew his Mi-8 helicopter low over fields with its transponder off to evade detection, capping an operation planned over months with Ukraine’s military intelligence agency. In his first public appearance at a news conference in Ukraine, Capt. Maksim Kuzminov said Tuesday that he reached out to the agency, best known by the acronym HUR, late last year after months lamenting the Russian invasion of Ukraine and his part in it.

Investing.com — The Dow closed lower Tuesday, weighed down by rising Treasury yields, but a rally in energy stocks kept a lid on losses as oil prices climbed after major oil producers agreed to extend their oil production cuts.

Indian diamond trade for a better deal as the US has slashed imports of cut and polished diamonds from India by almost 50% amid apprehensions that many of these stones might have indirectly come from Russia.

Investing.com — The S&P 500 slipped Tuesday, but downside momentum was kept in check by a rally in energy stocks after major oil producers agreed to extend their oil production cuts offsetting China-fueled concerns about timid demand.  

Aviva said it would be contesting the claim but declined to comment further on legal proceedings.

ALSO READ: ISRO's Aditya L1 successfully performs 2nd earth-bound manoeuvre; third to take place on THIS date "In this 3-channel image, the left image is positioned in the red channel, while the right image is placed in the blue and green channels (creating cyan). The difference in perspective between these two images results in the stereo effect, which gives the visual impression of three dimensions.

Urals oil loaded from the state's ports in August, despite a record rise in prices for the grade, traders, LSEG data and Reuters calculations showed.Indian refineries said in August that the Urals discount to the dated Brent benchmark crude had narrowed too much, making them cut purchases of the grade in September. Discounts for Urals oil loading in August narrowed to $5 per barrel and below on a DES (delivered ex ship) basis in Indian ports — a record low since a European Union embargo on Russia's oil. Along with the EU embargo, the G7, the European Union and Australia imposed a $60 per barrel price cap last December on sea-borne exports of Russian crude in retaliation for Russia's war on Ukraine, which Moscow calls a special military operation. The increase in prices for the Russian grade was due to Russia's pledge to cut oil exports in August by 500,000 barrels per day (bpd) in cooperation with OPEC+ to balance oil markets.

NATO member plans to spend more than four percent of its gross domestic product on defence next year amid security concerns over the war in neighbouring Ukraine. He announced the sum of 137 billion zloty ($33 billion) at the opening of this year's edition of the region's biggest trade fair for military equipment, the MSPO in Kielce, Poland. «When we see the emerging danger beyond our eastern border… we know perfectly well — history and experience has taught us this — that any price is worth paying to ensure that Poland is free, sovereign, independent and that Poles can live in safety,» Duda said. «Next year, we plan to spend 137 billion zloty on defence. That is more than four percent of our GDP,» he added, quoted by the Polish news agency PAP. That is an increase on the four percent of GDP Poland had pledged to spend on defence this year and much more than the 2 percent agreed by NATO allies. Poland has shown itself to be a staunch ally of Ukraine ever since Russia's invasion last year. More recently, Warsaw has also been sounding the alarm on threats that it says its other neighbour to the east — Belarus — poses, warning against «provocations» especially involving the Wagner mercenary group currently based there. Warsaw has signed multiple arm deals, including with the United States and South Korea, from whom it ordered K2 «Black Panther» tanks and K9 howitzers. Last month, the US approved a $12 billion sale of Apache attack helicopters to Poland, in another example of Warsaw's bid to boost its military capabilities in light of Russia's war in Ukraine. In June, Poland received a first shipment of US-made advanced Abrams tanks.

(Reuters) — Russian central bank deputy governor Alexei Zabotkin told reporters on Tuesday that Russia's economic growth this year would be towards the upper end of the 1.5%-2.5% forecast range.

By Shristi Achar A and Amruta Khandekar

Security groups loyal to the Kremlin are moving to take control of Wagner’s military forces in Ukraine and Africa in the wake of the death of its founder, Yevgeny Prigozhin. Mercenary groups with ties to Russian security forces and oligarchs close to the Kremlin are moving to absorb thousands of Wagner soldiers. In doing so, the Kremlin is seeking to commandeer experienced troops for the war in Ukraine and retain the influence Wagner had earned in parts of Africa.

MUNICH—For decades, German carmakers dominated their industry with brands that were bywords for excellence and consumer appeal. But as the sector transitions toward electric vehicles, they are falling behind. Nearly a decade into their electric-vehicle shift, and despite billions in investments, VW, BMW, Mercedes and others have failed to make a dent in Tesla’s share of the growing market.