Ukraine Financial News

Eighteen months after Russia’s invasion of Ukraine, Western countries still haven’t swung the developing world behind supporting Kyiv. Europe, Ukraine and the U.S. have successfully orchestrated several United Nations votes condemning Russia’s invasion.

RIYADH, Saudi Arabia—American defense giant RTX and a Saudi weapons firm were heading toward a multibillion-dollar deal when it was abruptly called off early this year. The reason, say people familiar with the talks, was RTX’s concerns that its Saudi partner’s companies were pursuing business with sanctioned Chinese and Russian entities. That unease was a deciding factor for an advisory board of retired American military officers to resign from the Saudi company, Scopa Defense, the people said.

Joe Biden's son Hunter Biden was criminally charged on Thursday, after efforts to reach a plea deal failed, leading to the first ever prosecution of a sitting president's child. The indictment filed on Thursday U.S. District Court in Delaware with three criminal counts related to gun possession. The indictment brought by recently elevated U.S. Special Counsel David Weiss comes after a deal for Hunter Biden, 53, to plead guilty to two misdemeanor tax charges and enroll in a program to avoid prosecution on a gun-related charge collapsed in a stunning turn in a July hearing. The charges ensure that courtroom drama will play an outsized role in the 2024 U.S.

Arm saw its share price jump 20 percent on the first day of trading on the Nasdaq stock exchange in New York on Thursday. Arm, whose semiconductor design is used in most smartphones worldwide, announced earlier this week that it was targeting a valuation of more than $52 billion for its initial public offering (IPO). Its shares opened up 10 percent and continued climbing in early trading, at one point rising 20 percent before settling up closer to 17 percent. Arm's high share price in early trading underscored enthusiasm for tech firms amid elevated interest in artificial intelligence. If Arm's shares close anywhere near its current share price at the end of the first day of trading, it will be valued at closer to $60 billion. The company, which is a world leader in smartphone chip design, is owned by the Japanese tech investor SoftBank, which has had a mixed record of success with its investments in recent years. The IPO of around 10 percent of the company's shares is expected to raise around $5 billion for SoftBank, which will retain ownership of the remaining 90 percent of the company's shares. «I want to keep as much as possible as long as possible,» SoftBank chief executive Masayoshi Son told CNBC on Thursday. «I'm a long term believer,» he added. Traders are looking at Arm's IPO as a barometer for other tech IPOs, which have stalled in recent years as the Covid-19 pandemic, the war in Ukraine and higher interest rates lowered the appetite for riskier investments. If Arm's IPO does well, other companies may consider going public to raise funds, fueling fresh deal-making in the months ahead.

LONDON : Russia has stepped up imports of the aluminium feedstock alumina from India in recent months to supply its vast Siberian plants, a move that diversifies the sanctions-hit country's supply, helps reduce dependence on China and cuts costs. After invading Ukraine, the world's second biggest producer of aluminium lost two crucial sources of alumina, used to make aluminium metal, as a refinery in Ukraine suspended production and Australia banned supplies to Russia. While Russia and China are on friendly terms, aluminium production in China is rising, leaving less price flexibility for Russia to buy alumina.

The protective services detail with North Korean leader Kim Jong Un spent several minutes disinfecting the chair that Kim sat during a summit with Russian President Vladimir Putin, the Kommersant newspaper reported Thursday. A video footage published by the newspaper showed a North Korean security official in white gloves wiping down Kim's black chair and spraying around an unidentified substance.

The United States is sanctioning more than 150 businesses and individuals as it tries to crack down on evasion and deny Russia access to technology, money and financial channels that fuel Moscow's war in Ukraine

foreign exchange and fiscal revenues. Perhaps no company in the world is as closely linked to its country’s collapse as Venezuela’s state oil firm, PDVSA. At its peak in 1998, it provided 5% of global supply.

Covid pandemic and Russia’s invasion of Ukraine, both of which caused disruption in energy markets. There have been speculations as who will be new boss.

Russia-Ukraine crisis, though it stopped short of direct condemnation. From a Karachi resident's perspective, India's effective hosting of the summit signals not only an honour for the nation but also a potentially significant economic boost. This sentiment contradicts the usual rivalry between the neighbouring countries and acknowledges India's growing importance on the world stage.

Picasso masterpiece, the late Spanish painter's "Femme a la montre" from 1932, is expected to fetch at least $120 million, Sotheby's announced Wednesday. The painting, which depicts Picasso's mistress wearing a watch, will be sold as part of a two-day auction of late New Yorker Emily Fisher Landau's prestigious collection. Other works up for sale include pieces by Jasper Johns, Willem de Kooning, Mark Rothko and Andy Warhol. Fisher Landau, a longtime board member of the Whitney Museum of American Art in New York and a renowned art patron and collector, passed away in March at age 102. Sotheby's said in a statement that around 120 pieces from her collection would be for sale and «estimated to bring well over $400 million» in total, with «Femme a la montre» making up a significant portion.

Russia on Thursday said the United States was hypocritical to criticise President Vladimir Putin's summit with North Korean leader Kim Jong Un because Washington had sown chaos and sent weapons to allies across the world. «The United States has no right to lecture us on how to live,» Russia's ambassador to the United States, Anatoly Antonov, said in a statement. For the United States and allies, the burgeoning friendship between Kim and Putin is a concern: Washington has accused North Korea of providing arms to Russia, but it is unclear whether any deliveries have been made. The United States, Antonov said, had built up a coalition in Asia, expanded military drills near the Korean peninsula and was supplying billions of dollars of weapons to Ukraine. «It is time for Washington to throw its economic sanctions into the rubbish dump,» Antonov said.

The 6th edition of the Jaipur Literary Festival will be organised in Houston this year, featuring various celebrated writers, analysts, and researchers, including award-winning filmmaker Mira Nair. The JLF festival hailed as one of the greatest literary shows globally, will be held in Houston between September 15 and 17.

TAIPEI (Reuters) — Taiwan is «not for sale», the island's foreign minister said in a stern rebuke to Elon Musk who asserted Taiwan was an integral part of China, as the billionaire again waded into the thorny issue of relations between Beijing and Taipei.

Ukraine said on Thursday it downed 17 out of 22 Russian drones attacking its territory overnight in the country's south, centre and north. «On the night of September 14, 2023, from 9 p.m.

Also read: Ukrainian official says India has 'weak intellectual potential’, 'doesn't fully understand...' “Of course, Turkey, India, China, and other regional powers are increasingly and clearly justified in claiming global roles in the modern world - and there are all the reasons for this: historical, economic, cultural, scientific, and political. And these roles have long been much more extensive than Russia’s. But the global world is much broader than even the most thoughtful regional national interests," Podolyak said.

By Donny Kwok and Brenda Goh

Also read: Kim Jong Un extends ‘full support’ to Vladimir Putin's ‘just fight’ in Ukraine Kim left Pyongyang for Russia on Sunday on board his train. Kim does not travel abroad frequently, making just seven trips away from his country and twice stepping across the inter-Korean border in his 12 years in power.

ANI. In the briefing, Miller also added that there is a "possibility" of weapons flowing two ways between Russia and North Korea, as he underlined how war unleashed by Russia President Vladimir Putin on Ukraine resulted in the loss of billions of dollars as well as thousands of Russian soldiers.

European Union may have just sparked one of its biggest battles. With European officials fearing millions of auto jobs are at risk from China’s surging electric vehicle exports, the bloc’s executive arm on Wednesday launched an investigation into Beijing’s financial support for the EV industry. The probe, which could take up to nine months, will probably lead to new EU tariffs on Chinese EV imports and embroil major non-European automakers like Tesla Inc., which produce cars in China for export to the bloc. The move may lead to tariffs close to the 27.5% level already imposed by the US on Chinese EVs, according to a person familiar with the matter. The EU duties could vary depending on the producer, the person added, asking not to be identified as the discussions are private and no decision has been finalized. The bloc’s investigation, as well as aggressive moves by Washington to counter China, are part of a broader rethink by governments in developed economies to bring production closer to home, especially for key sectors like semiconductors, pharmaceuticals and heavy industries, which were disrupted during the Covid-19 pandemic. That drive to secure supply chains, combined with the tensions after Russia’s invasion of Ukraine, has resulted in a simultaneous rush to throw up trade barriers, triggering fears of a global economic fragmentation.Major Market If the EU does impose duties, that would curtail one of the last major markets for Chinese EV exports, and raises the prospect of a cascade of defensive moves in places like the UK to protect their markets being flooded by vehicles redirected from the EU. Shares of Chinese electric vehicle makers staged a mix performance Thursday with BYD Co Ltd.

Russia and North Korea as Kim Jong Un arrived in Moscow to meet President Vladimir Putin recently, giving rise to the concerns of a possible arms deal between the two countries, which has remained the talk of the town for quite sometime now. In a press briefing on Wednesday, the official spokesperson of the US Department of State, Matthew Miller said, «And then I want to speak specifically for a second about the idea of North Korea providing weapons to Russia, which I spoke to the other day but I don't think you were here. One, just the overall context, and one thing it's important to restate again, that a year and a half ago Vladimir Putin launched this war thinking he was going to restore the glory of the Russian empire, failed in all of his maximalist, imperialist aims, and now a year and a half later, after losing tens of thousands of Russian soldiers and spending billions and billions of dollars, here he is begging Kim Jong-un for help.» «So it says something about the overall context of how this war is going for Russia.