Russia Financial News

Chelsea under their American investors will be a fascinating case study about running a soccer club. Because no one in England or beyond has ever seen anything like what has been happening at Stamford Bridge over the last two years. Just take this in: Chelsea has spent nearly $1.3 billion on 39 players across five transfer windows since a consortium fronted by Los Angeles Dodgers part-owner Todd Boehly and Clearlake Capital bought the Premier League club from its long-time owner, Russian oligarch Roman Abramovich, for $3.2 billion in May 2022. Throw in the club having four different full-time managers in this period — plus another coach on a temporary basis — and the revolving door at Chelsea, a six-time English champion and two-time European champion, simply hasn't stopped spinning.

India's stand of "dialogue and diplomacy" and announced every possible assistance to resolve the Russo-Ukraine conflict, external affairs minister S Jaishankar said in Kyiv on Friday following the PM's meeting with Ukrainian President Volodymyr Zelenskyy. The PM, Jaishankar said, stressed «India's willingness to contribute in all ways possible». The two leaders also discussed Modi's conversation with Russian President Vladimir Putin during a meeting in Moscow in July, Jaishankar said, adding India explained its position on energy ties with Russia. Modi invited Zelenskyy to visit India at a mutually convenient opportunity.

United States has emerged as India's top trading partner in January-June this year, while the country has recorded its highest trade deficit of $41.6 billion with China during the period, think tank Global Trade Research Initiative (GTRI) said Friday. India exports goods to 239 countries of which 126 countries showed positive growth in exports. Imports from Russia grew to $34.4 billion from $30.8 billion, a 11.65% increase. It also said the country's merchandise exports rose 5.41% to $230.51 billion during the first half of 2024, led by sectors like iron ore, pharmaceuticals, precious stones, basmati rice, chemicals, and smartphones.

Narendra Modi met Ukrainian President Volodymyr Zelenskyy here on Friday, he first shook hands and immediately gave him a warm hug. The hug to the top leader of the war-torn country came barely six weeks after Modi had similarly hugged the leader of Ukraine's arch enemy Russia, President Vladimir Putin. During a media briefing after the Modi-Zelenskyy talks, External Affairs Minister S Jaishankar was asked about the 'embrace' in a question meant to seek comments on apparent linkages with Modi's meetings with Putin earlier and Zelenskyy now. «In our part of the world, when people meet people, they are given to embracing each other, it may not be part of your culture but I can assure you it is part of our's. In fact, today, I think, I saw, Prime Minister (Modi) also embrace President Zelenskyy,» Jaishankar replied to a specific question by a Western reporter which mentioned in as many words about Modi's embrace of Putin a few weeks ago.

Zelenskyy on Friday said India supported his country's national sovereignty and territorial integrity, underlining that New Delhi's support was «critical» because everyone in the world must equally respect the UN Charter. «Today, history was made. The Prime Minister of India @narendramodi made his first visit to Ukraine since our country's independence, on the eve of our Independence Day,» Zelenskyy posted on X after holding talks with Modi. Modi arrived in Kyiv this morning on a special train on the first-ever visit to Ukraine by an Indian prime minister after it became independent in 1991. Zelenskyy noted that four documents between Ukraine and India, covering the medical field, agricultural cooperation, humanitarian relations, and culture, were signed.

July 2024, engineering goods exports to countries like the US, UAE, Saudi Arabia, and Singapore witnessed a positive growth whereas exports to countries like Bangladesh and Russia experienced a decline during this period, according to latest data released by Engineering Exports Promotion Council (EEPC). Among the 25 major destinations for Indian engineering goods, exports showed growth in 10 countries, while 15 countries experienced a decline. The top 25 countries contribute 75.5% of total engineering exports to the country, said EEPC in a statement . At $1.5 billion, engineering goods exports to the US recorded 4.2% year-on-year growth in July this year. Engineering exports to the UAE stood at $625.78 million in July this year, up 65.6% year-on-year. The exports to Saudi Arabia rose 9.2% year-on-year to $412.30 million in July this year.

Indian community in Ukraine. While Indian medical students were evacuated, long-term Indian residents faced stark choices, unable to abandon businesses and connections they had built over decades. Many, like Nagender Parashar, had to relocate their operations within Ukraine to ensure continued support for both their employees and local communities, as reported by TOI. «I had to shift my factory from Kyiv to Marshyntsy in Chernivtsi Oblast near the border with Romania. So many of my workers and their family members depended on me. I couldn’t abandon them,” says Parashar, whose prosthetics manufacturing business has become a crucial support system for Ukrainian amputees affected by the war. “Slowly, I had to bring my staff to Marshyntsy and continue my work.” For other long-term Indian residents like Ram Dange, the challenges were immense. “There were around 2,500 long-term Indian residents in Ukraine before 2022. Many of us got married and have families here. The outbreak of full-fledged war divided our families because we had to relocate our loved ones to safer locations and countries. But we had to stay behind for the sake of our businesses.»

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

A French destroyer rescued 29 mariners from an oil tanker that came under repeated attack from Yemen's Houthi rebels in the Red Sea, while also destroying a bomb-carrying drone boat in the area

Modi on Thursday reiterated India's previous standing of supporting dialogue and diplomacy and said India is willing to help Ukraine and nations West Asia revolve its conflicts. While speaking at the joint press briefing with Polish PM Donald Tusk, the PM further said that India does not believe war to be a solution. «The ongoing conflicts in Ukraine and West Asia are a matter of deep concern for all of us. India firmly believes that no problem can be solved on the battlefield. The loss of innocent lives in any crisis has become the biggest challenge for the entire humanity. We support dialogue and diplomacy for the early restoration of peace and stability. For this, India is ready to provide all possible cooperation along with its friendly countries,» he said. The prime minister's comments came ahead of his first visit to war-torn Ukraine on Friday by the invite of Ukrainian President Zelenskyy. PM Modi also thanked PM Tusk for playing a crucial role in facilitating the evacuation of Indian students from Ukraine during the initial months of the start of the its war with Russia in 2022.

In November 2022, after acquiring Twitter, Elon Musk joked to his millions of followers: “Wait, if I Tweet does that count as work?" An account secretly run by a Russian intelligence agency tried for a humorous reply: “Your boss will be angry." The awkward joke got zero likes. Russian trolls are ramping up their efforts again on social media ahead of another U.S. presidential election, and they seem desperate for influencers to notice them.

The war, largely a grinding artillery and drone battle across the fields, forests and villages of eastern Ukraine, escalated on Aug. 6 when Ukraine sent thousands of soldiers over the border into Russia's western Kursk region. For months, Ukraine has also fought an increasingly damaging drone war against the refineries and airfields of Russia, the world's second largest oil exporter, though major drone attacks on the Moscow region — with a population of over 21 million — have been rarer.

BP’s chief economist Spencer Dale has said. “Most of the consensus for next year is that oil demand will continue to grow. But many also point to strong growth in non-OPEC supply, with many of those scenarios suggesting the growth in non-OPEC supply will largely meet the growth in overall demand,” said Dale. “And that means the scope for OPEC to bring back production is likely to be relatively limited.” OPEC+, a grouping of nearly two dozen countries led by Saudi Arabia and Russia, has kept its production artificially low, keeping a record 5.8 million barrels per day of supply off the market. It plans to return these supplies to the market, starting October.

China is seriously concerned about a report that said the United Stated approved a nuclear strategic plan to focus on China's rapid expansion in its nuclear arsenal, the Chinese foreign ministry said on Wednesday. «The U.S. is peddling the China nuclear threat narrative, finding excuses to seek strategic advantage,» a Chinese foreign ministry spokesperson said. According to a report by the New York Times, U.S. President Joe Biden approved in March a highly classified nuclear strategic plan that focused on China's quickly growing arsenal, but also seeks to prepare the U.S for possible coordinated nuclear challenges from China, Russia and North Korea.

Santosh Rao, Head of Research, Manhattan Venture Partners, says more than 50 basis points rate cut by Fed would cause panic. It means the economy is deteriorating and they do not want that to happen. As long as they keep cutting rates, 25 bps, gold will be steady. But if they cut a lot, gold will go spike much higher. $3000 is in the bag at that point. What do you make of gold at $2,500? We understand that investors are looking at the Fed's rate cut decision to major escalations in the Middle East and the Russia-Ukraine conflict, but to what extent do geopolitical tensions drive these prices, and for how long will gold remain at these elevated levels? Santosh Rao: There is a fundamental shift in the way investors are looking at gold. It was a safe-haven trade in the past, but now it has become a big part of a diversified portfolio. It does move with the stock market, but not one-to-one correlation. When the stock market fell recently in the US, gold fell as well, but not as much. So, it outperformed the broader indexes.

Mint columns that I debunk the super cycle theory in oil and gas. Part of the reason is I have seen the sale of “ghost ships" grow exponentially in the past 10 years. Most of the spike came after the Covid lockdowns in 2020.

Azerbaijan has formally applied to join the BRICS group of developing economies, a day after Russian leader Vladimir Putin’s visit to the oil-rich South Caucasus country to shore up regional ties and secure Moscow’s under-pressure trade routes

The owner of 7-Eleven convenience stores has received a buyout offer for from Canada’s Alimentation Couche-Tard

German officials have rejected suggestions that national budget constraints could hurt weapons deliveries to Ukraine

Poland's prime minister has reacted to reports that revived speculation about who blew up the Nord Stream pipelines in 2022

Prime Minister Narendra Modi heads to Poland on August 21, the first visit by an Indian premier in 45 years, some focus will be on a forgotten slice of history during the turbulent Second World War in which two Indian rulers gave shelter and protection to thousands of Polish children and refugees caught in the crossfires of the biggest-ever conflict on earth. The PM is likely to pay a visit to the 'Good Maharaja Square' in Warsaw, which has been built to pay homage to the erstwhile ruler of Nawanagar, Maharaja Jam Saheb Digvijaysinhji Ranjitsinhji, who provided shelter to a group of Polish children who had been left homeless after Poland was ravished by the war. The Nawanagar ruler, along with Shrimant Rajarshi Chhatrapati Sahu Maharaj of Kolhapur provided housing and hospitality to an estimated 5,000 Polish citizens from 1942 to 1946 as the war raged in Europe.