Ukraine Financial News

By Jonathan Landay

Belgium’s prime minister says his country, which has the biggest interest in the global diamond trade in the European Union, is supporting a ban on Russian diamonds as part of sanctions targeting President Vladimir Putin’s government for its war agains...

IEA) on Thursday lowered its forecast for growth in oil demand in 2024, suggesting harsher global economic conditions and progress on energy efficiency will weigh on consumption. In its monthly report, the IEA forecast demand for oil will rise by 880,000 barrels per day (bpd) in 2024, down from its previous forecast of 1 million bpd, based on broader economic concerns and a faster adoption of electric vehicles among other energy efficiency measures. However, the Paris-based agency that advises the United States and other industrialised countries, raised its 2023 demand forecast to 2.3 million bpd, from a previous estimate of 2.2 million. OPEC and its allies, known as OPEC+, began limiting supplies in 2022 to support prices. In September, global benchmark Brent hit 10-month highs after Saudi Arabia and Russia extended their combined 1.3 million bpd cuts until the end of the year. «If extra cuts are unwound in January, the balance could shift to surplus, which would go some way to help replenish depleted inventories,» the agency said. Although Russia pledged to cut crude exports until the end of 2023, according to the IEA's estimates Moscow's total exports of crude oil and products in September rose by 460,000 bpd to 7.6 million bpd, with crude accounting for 250,000 bpd of the increase. The jump in exports highlights the difficulty the West has faced in trying to reduce Russian exports and revenue to Moscow amid its war with Ukraine. Last year, the IEA predicted harsh Western sanctions would lead to a collapse in Russian energy exports. ECONOMIC HEADWINDS, GEOPOLITICAL RISK Oil prices fell sharply last week as a darkening economic outlook intensified fears of slower growth in demand, eclipsing supply concerns.

IEA) on Thursday lowered its forecast for growth in oil demand in 2024, suggesting harsher global economic conditions and progress on energy efficiency will weigh on consumption. In its monthly report, the IEA forecast demand for oil will rise by 880,000 barrels per day (bpd) in 2024, down from its previous forecast of 1 million bpd, based on broader economic concerns and a faster adoption of electric vehicles among other energy efficiency measures. However, the Paris-based agency that advises the United States and other industrialised countries, raised its 2023 demand forecast to 2.3 million bpd, from a previous estimate of 2.2 million. OPEC and its allies, known as OPEC+, began limiting supplies in 2022 to support prices. In September, global benchmark Brent hit 10-month highs after Saudi Arabia and Russia extended their combined 1.3 million bpd cuts until the end of the year. «If extra cuts are unwound in January, the balance could shift to surplus, which would go some way to help replenish depleted inventories,» the agency said. Although Russia pledged to cut crude exports until the end of 2023, according to the IEA's estimates Moscow's total exports of crude oil and products in September rose by 460,000 bpd to 7.6 million bpd, with crude accounting for 250,000 bpd of the increase. The jump in exports highlights the difficulty the West has faced in trying to reduce Russian exports and revenue to Moscow amid its war with Ukraine. Last year, the IEA predicted harsh Western sanctions would lead to a collapse in Russian energy exports. ECONOMIC HEADWINDS, GEOPOLITICAL RISK Oil prices fell sharply last week as a darkening economic outlook intensified fears of slower growth in demand, eclipsing supply concerns.

Russia’s Central Bank thinks its digital ruble could let citizens pay abroad without making use of the SWIFT banking platform – and wants to let foreign banks use its CBDC.

Belgium’s prime minister says his country, which has the biggest interest in the global diamond trade in the European Union, is supporting a ban on Russian diamonds as part of sanctions targeting President Vladimir Putin’s government for its war agains...

What is the genesis of this crisis? It’s an incendiary mix of politics, religion and economics. Modern Palestine was populated with Jews from the global diaspora—a British imperial drive—in 1948. Around 750,000 Palestinians were expelled as Jews captured 78% of the land.

MUMBAI : Tata Consultancy Services (TCS) Ltd kick-started the fiscal second-quarter earnings season for the technology services industry on a disappointing note, with both revenue and profit falling short of analysts’ expectations. Worryingly, TCS’s dollar revenue slip in the September quarter comes on the back of a 0.4% sequential growth in the preceding three months, implying that the country’s largest technology services company added $779 million in incremental revenue in what is a seasonally strong first six months of the fiscal year. This translates into a 5.7% dollar revenue growth in the April-September period for TCS.

Moneycontrol reported Gill as saying. The good news, however, “basically ends there", he quipped.

By Sabrina Valle and Anirban Sen

Volodymyr Zelenskiy on Wednesday asked NATO allies for more weapons and air defences to tide his country through another wartime winter as it braces for a barrage of Russian attacks on power stations and other infrastructure. Zelenskiy made his first visit to NATO headquarters since Russia's invasion last year, at a time when turbulence in the U.S.

Russian oil at the widest premium above a G-7 imposed cap since the curb was introduced, highlighting the market’s importance to Moscow and a gap that may intensify scrutiny of the controversial mechanism. Crude processors in the key importer paid an average of $86 a barrel for Russian shipments in August, according to the Ministry of Commerce and Industry. That’s the biggest spread in dollar terms since the $60-a-barrel limit came into force after Moscow’s invasion of Ukraine in the first quarter of 2022. Oil rallied in the third quarter as OPEC+ leaders Russia and Saudi Arabia choked off some supply to tighten the market.

geopolitical tensions have dominated headlines. Be it the Russia-Ukraine waror various revolts outside the US, it seems like the world is becoming more chaotic and unstable. When nations lose trust in each other, it creates an environment where they are likely to engage in conflict to accomplish their goals.

Vladimir Putin will visit Kyrgyzstan on Thursday, the presidential office of the Central Asian country said, in what would be the Russian leader's first known trip abroad since the International Criminal Court issued a warrant for his arrest. Putin has rarely travelled abroad since the start of Moscow's invasion of Ukraine in early 2022 and is not known to have left Russia since the ICC issued in March a warrant for him on suspicion of illegally deporting hundreds of children from Ukraine. The Kremlin denies those allegations. «At the invitation of the President of the Kyrgyz Republic, Sadyr Japarov, on October 12 of this year, the President of the Russian Federation, Vladimir Putin, will make an official visit to the country,» the Kyrgyz presidential administration said in a statement on its website. Putin agreed in May during talks with Japarov to visit Kyrgyzstan, but there has been no official confirmation yet from the Kremlin that the Russian president will travel there on Thursday. The Russian leader is also due to travel to China next week for the third Belt and Road Forum in Beijing.

Key Takeaways

Key Takeaways

Gaza Strip. His promise raised questions about whether Washington can ramp up defense aid to Israel without jeopardizing aid for Ukraine, especially given Republican lawmakers' ouster of House of Representatives Speaker Kevin McCarthy and failure so far to name a replacement. Biden administration officials insist Washington can absolutely do both, but acknowledge there will be challenges.

Breitbart economics and finance editor John Carney breaks down Fed Chair Powell's policies on 'Kudlow.'

India should be able to tide over the spike in crude oil prices due to the latest conflict in Gaza, International Monetary Fund executive director KV Subramanian noted, saying that the development for the global economy meant more uncertainty. «As it is even before this particular incident there was uncertainty, one because of the high levels of debt in many economies together with elevated commodity prices because of the war in Ukraine. On top of that this adds uncertainty, which may impact, I think, the global growth, possibly, in an even more negative manner,» he told ET on the sidelines of the ongoing annual International Monetary Fund and World Bank meeting here. Crude oil prices jumped 4% soon after the conflict broke out.

Russia was defeated in its bid to regain a seat in the United Nations premiere human rights body by a significant majority in Tuesday's election in the General Assembly, which voted last year to suspend Moscow after its invasion of Ukraine. Russia competed against Albania and Bulgaria for two seats on the Geneva-based Human Rights Council representing the East European regional group. In the secret ballot vote, Bulgaria got 160 votes, Albania got 123 votes and Russia just 83 votes.

Crypto exchange Binance has frozen accounts linked to Hamas militants as per requests from Israeli law enforcement.