Russia Financial News

Investing.com — Pressing on with gains from four weeks, oil bulls targeted $80 per barrel for U.S. crude on Monday — and correspondingly higher prices for global benchmark Brent — as they turned what would typically be a mundane three-day stretch before a Federal Reserve rate decision into a hive activity.

China, with Russia in tow, found themselves endorsing a document that embraces the Indo-Pacific as a viable regional construct. This goes against the grain of Chinese opposition to Quad.

Ukrainian former military official was detained on Monday for suspected corruption following reports his family bought real estate worth millions of dollars in Spain after the Russian invasion.Yevgen Borisov was in charge of mobilisation and conscription in the southern Odesa region until his dismissal in late June. Investigators in May accused Borisov of accepting bribes in return for exempting some people from being mobilised in the army.Ukraine's State Bureau of Investigation, which probes high-level corruption, said Borisov had been detained in Kyiv in a joint operation with the prosecutor general's office.

Russia attacked Ukrainian grain warehouses on the Danube River, a vital inland export route and a major escalation of attacks on Ukraine's grain export infrastructure. Front-month September milling wheat on the Paris-based Euronext exchange was up 6.9% at 264.50 euros ($292.85) a metric ton at 1548 GMT, after earlier hitting 265.25 euros, its highest since April 3. Russia destroyed Ukrainian grain warehouses on the Danube River in a drone attack on Monday, expanding air campaign including attacks on Ukrainian grain infrastructure that Moscow began last week after pulling out of the Black Sea shipping deal.

Paris Olympics, and nearly a year-and-a-half since Russia's invasion of Ukraine, officials governing many of the sports on the 2024 program are still split on how to treat Russian athletes. Increasingly, various governing bodies are allowing them back into Olympic qualifying competitions as neutral competitors without national flags or anthems. Most sports initially barred Russians from competing soon after last year's full-scale invasion.

Russian authorities have accused Ukraine of launching a drone attack on Moscow during which one of the aircraft fell near the Defense Ministry’s main headquarters

The U.N. chief has urged Russia to resume the internationally brokered deal so that grain can be shipped from Ukraine's Black Sea ports during the war

A major shipping group says there is still interest from ship owners in carrying Ukrainian grain through the Black Sea if they can mitigate the risk

MG Motor India, which faced disruptions in production through most of the past one year, said with an expected improvement in the supply chain in the second half of 2023, it will be able to clock a quarter of its sales from electric vehicles (EVs) this year. While limitations continue in availability of components amid global challenges, from the Russia-Ukraine war to logistical delays in intercontinental movement, supplies have started showing an improvement, said Gaurav Gupta, deputy managing director, MG Motor India. “We have started ramping up operations with easing of constraints in the supply chain.

New Delhi: The domestic dye, dye intermediates, and pigment (D&P) industry witnessed a challenging FY23 as it grappled with a decline in demand from its primary end-user, the textile industry, according to a report by CareEdge Ratings. The industry also faced significant hurdles due to volatile input costs, including raw materials, fuel, and freight, resulting in major players experiencing a moderation in total operating income (TOI) by over 5% and a contraction in operating profitability of around 400 basis points. A multitude of factors contributed to this downturn, including high inflation across major economies, disruptions stemming from the Russia-Ukraine war, and stiff competition from low-cost Chinese products.

Bengaluru (Karnataka) [India], July 21: Equity investment is simple, but it requires perseverance, resilience and the right amount of determination to achieve success. Over the last few years, especially post-Covid-19, the world has gone through major economic events such as the Russia-Ukraine war, soaring inflation, the 2-year US treasury yields hitting 16 years high, commodity prices going through the roof, continuous lockdowns by China and others. These geopolitical tensions led to a global supply chain issue.

Russia is moving forward with its central bank digital currency (CBDC) as President Vladimir Putin signed the digital ruble bill into law on July 24, according to an official government document.

Russian wheat export prices jumped last week along with global prices after Russia's withdrawal from the Black Sea grain deal and amid restrictions on navigation in the Kerch Strait, analysts said. Last Monday Russia pulled out of the U.N.-backed deal that allowed the safe Black Sea export of Ukraine's grain, after saying for months that conditions for its extension had not been fulfilled. The passage of cargo ships through the Kerch Strait was closed from July 16 to 20, sources told Reuters.

Russia destroyed Ukrainian grain warehouses on the Danube River and wounded six people in a drone attack on Monday, expanding the target area of an air campaign that it launched last week after pulling out of the Black Sea grain deal, Ukraine said. Russia has pounded food export facilities in Ukraine's Odesa region in almost nightly attacks since it withdrew from a UN-brokered wartime agreement that allowed global grain producer Ukraine to export food via the Black Sea.

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As per media reports, President Volodymyr Zelensky accused Russia of intentionally targeting grain export infrastructure in the southern Ukrainian port of Odesa during a second night of strikes. He expressed concern that such actions were endangering vulnerable nations. As a response, Kyiv called upon other countries in the Black Sea region to step in and ensure the safe passage of cargo ships.

China's Foreign Minister Qin Gang has not been seen in public for almost a month, sparking a flurry of questions over his whereabouts. Here's what we know so far about the disappearance of one of China's most senior diplomats: — Who is Qin Gang? — Qin, considered a confidante of President Xi Jinping, was appointed foreign minister in December 2022. The 57-year-old spent several years at the Chinese embassy in London and is a fluent English speaker.

Biden has represented her country at the Olympics in Tokyo, a king's coronation in London and a royal wedding in Jordan. She gets another chance to put her ambassadorial skills to work this week when the United States formally rejoins a United Nations agency devoted to education, science and culture around the globe. Biden was arriving in Paris early Monday after flying overnight from Washington to join other VIPs and speak at a ceremony Tuesday at the headquarters of the United Nations Scientific, Educational and Cultural Organization.

GRMs did probably drop by maybe $3 to $4," says Probal Sen, ICICI Securities.While retail and Jio seem to be firing all cylinders, it is the oil and gas business which was a bit of disappointment, I guess. What was your read-through of the numbers?I think the OTC segment, obviously, has been a little bit muted. I think the advantage of Russian crude and the lack of windfall taxes notwithstanding what it does look like is that GRMs did probably drop by maybe $3 to $4.