Russia Financial News

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SYDNEY (Reuters) — The U.S. Defense Secretary Lloyd Austin on Saturday called on Russia to abide by the laws of the sky and cease «irresponsible behaviour» when asked about Russian attacks on U.S. drones in Syria.

Rishi Sunak is very much looking forward to attending the G20 Summit in New Delhi in September, UK High Commissioner in India Alex Ellis has said. Interacting with PTI on Friday on the sidelines of a preview of an art exhibition here, Ellis said he thought it was «great» that India is in the chair of the G20. India assumed the G20 presidency on December 1, 2022.

Russia is launching its electronic visa (e-visa) facilities for Indian passport holders from August 1. The e-visa will be processed in a maximum of four days and a $40 consular fee will be charged for the facility.

Russian bailiffs will be allowed to seize digital rubles from citizens, a government chief has confirmed – as the nation readies a “real-world” CBDC pilot.

India and Japan are exploring collaboration in critical and emerging technologies, including semiconductors and resilient supply chains, as part of a target $35.9 billion Japanese investment in the country by 2027

LA PAZ (Reuters) — Bolivia's government is determined to curb dependence on the U.S. dollar for foreign trade, instead turning to the Chinese yuan, officials said, as Latin American support for alternative currencies grows.

Investing.com — Non-stop chanting about Saudi output cuts; forecast-beating U.S. economic growth and fewer Americans filing unemployment claims despite moderating jobs growth — oil has little reason not to rally.

Cryptobiosis is a condition of existence in which the metabolism of a living organism reduces to such a minimalist level that it is not traceable. An organism in a cryptobiosis state does not need oxygen or water and can withstand extreme cold or high temperatures. Calling it a major find, Teymuras Kurzchalia, professor emeritus at the Max Planck Institute of Molecular Cell Biology and Genetics in Dresden said that earlier discoveries of animals in similar conditions have survived for decades and not millennia.

LONDON—The Bank of England has named Ben Bernanke, a former chair of the Federal Reserve, to review its economic forecasting record, one of the first steps taken by a leading central bank to understand why they underestimated a surge in prices that began more than two years ago and dented living standards. Consumer prices started to rise rapidly in early 2021 as economies around the world began to reopen after the Covid-19 pandemic. As demand for goods and services rebounded, supply chains were hampered by lockdowns that continued in key parts of the global economy through last year.

General Abdourahamane Tiani, Niger’s presidential guard chief, who led the coup against President Mohamed Bazoum leaving him detained, has named himself as the new leader of the country. In an address, General Abdourahamane Tiani also sought the support of people in leading the country.

Saudi Arabia is expected to extend a voluntary oil output cut of 1 million barrels per day for another month to include September, five analysts said, to provide additional support for the oil market. In June, OPEC+ agreed on a broad deal to limit oil supply into 2024 and Saudi Arabia pledged an additional voluntary cut for July. On July 3, Saudi Arabia said it would extend the cut for another month to include August, adding that it could be extended further. Oil prices have found some support from evidence of tightening supplies and economic stimulus in China. Brent crude was trading at over $84 a barrel on Friday, after hitting the highest level since April on Thursday. «Given the tentative recovery, my guess is they continue the cut for one more month and then phase it out over three months — similar to what Saudi did in 2021,» said Gary Ross, founder of Black Gold Investors and a veteran OPEC watcher. The Saudi Energy Ministry did not respond to a request for comment.

Niger defended the takeover on state television Friday and asked for support from the nation and international partners, as concerns grew that the political crisis could set back the country's fight against jihadists and increase Russia's influence in West Africa. Various factions of Niger's military have reportedly wrangled for control since members of the presidential guard detained President Mohamed Bazoum, who was elected two years ago in Niger's first peaceful, democratic transfer of power since independence from France.

One reminder from the latest results from Exxon Mobil and Chevron is that the oil and gas business is highly cyclical. Another important takeaway: Their cash payouts aren’t. Exxon Mobil said Friday that net income was $7.9 billion in the second quarter, a 56% decline from a year earlier when both oil and natural-gas prices surged following Russia’s invasion of Ukraine.

Uco Bank for opening special rupee vostro accounts for facilitating bilateral trade in local currency, Uco Bank managing director Ashwani Kumar said Friday, after announcing 81% year-on-year in June quarter net profit at Rs 224 crore. Two of these banks are from Russia, he said. «We will soon approach the Reserve Bank of India for approval,» he said.

G20 nations failed to agree on peaking global emissions by 2025 and other crucial issues to address the global climate crisis at their meeting in India on Friday, France's representative said. No breakthrough was possible on several key points ahead of this year's COP28 climate talks, with negotiations also failing to reach a consensus on drastically scaling up renewable energy use. «I am very disappointed,» France's ecological transition minister Christophe Bechu told AFP after the meeting.

Investing.com — Crude oil prices weakened Friday, but still remained on course for a fifth straight week of gains on growing optimism for global economic growth and tightening supplies.

Poland's lawmakers have voted to approve an amended but divisive law on Russian influences believed to be targeting the opposition and criticized by the U.S. and the European Union

The German economy is still failing to grow

Russian President Vladimir Putin is courting leaders from Africa at a summit, hailing the continent’s growing role in global affairs and offering to expand political and business ties

The head of a leading aid group says an impasse at the United Nations over a border crossing with Syria’s last rebel-held enclave is endangering 4.1 million Syrians living there