Ukraine Financial News

Read more of our recent coverage of the Ukraine war When Russian tanks began bearing down on Kyiv, Ukraine’s capital, in February of last year, Mykhailo Fedorov was overseeing improvements to an app that provides Ukrainians with easy access to government services. At the time the app focused on fairly conventional tasks: filing tax returns, obtaining business permits, claiming benefits and so on. But the 32-year-old Mr Fedorov and his colleagues quickly added extra features.

crude oil imports from Russia dipped for the first time in nine months, while inbound shipments from Saudi Arabia tumbled to their lowest in 2-1/2 years following OPEC+ cuts, tanker data from trade and industry sources showed. Both China and India, the world's biggest and third-biggest oil importers, cut imports from Russia and Saudi Arabia in July after prices rose and as the two oil producers reduced output and crude oil shipments. Saudi Arabia volunteered to cut output by another 1 million barrels per day (bpd) from July through September, and Russia will reduce exports in August by 500,000 bpd, part of a deal among members of the Organization of the Petroleum Exporting Countries and its allies, a grouping know as OPEC+, to curb supplies and support prices. India's overall imports also declined 5.2% from June to 4.4 million bpd oil in July, the data showed, as several refining plants are shut for maintenance during monsoon season.Russian oil imports declined 5.7% to 1.85 million bpd and Saudi shipments fell by 26% to 470,000 bpd, the data showed. India imports more than 80% of its overall oil needs. Indian refiners that have been diversifying their oil import sources to cut costs began snapping up Russian oil at a discount as some Western companies stopped purchasing from Moscow following its invasion of Ukraine in February 2022. India's import of Russian oil may now decline further in August and September, however, as refiners plan maintenance at their plants and as Russian crude prices are above the $60-a-barrel ceiling imposed by the European Union and G7 economies after spot discounts shrank, sources said. Russia was still the top oil supplier to India in July, though, followed by Iraq and Saudi Arabia.

BRICS economic alliance, comprising Brazil, Russia, India, China and South Africa, are gathering in Johannesburg's financial district of Sandton for a three-day summit. The meeting is anticipated to witness discussions on ways to consolidate political and economic influence in the developing world, marking a pivotal moment in international diplomacy. China's President Xi Jinping's participation in the summit underscores the nation's continued investment in the BRICS alliance as a vehicle for its strategic aspirations.

Asset Management could be seen playing with all his energy on the court. He captioned the video of his tennis practice as ‘Three hours of solid debate prep this morning.’ Born on 9 August 1985, Vivek Ganapathy Ramaswamy started his journey as an entrepreneur and managed to transform himself into one of the top billionaiares of America. He was born in Cincinnati to an Indian couple.

The New Yorker. The assertion by the ex-Pentagon official is in stark contrast to Musk's statement from last year where he claimed he talked to Putin only once since the start of the war.

Moscow have suspended arrivals and departures today, Tuesday, August 22 after the Russian military brought down four Ukrainian drones near Moscow and over the Bryansk region that borders Ukraine, according to a report published by TASS News. Reuters reported that one of the drones was shot down over Krasnogorsk, a town outside Moscow, that hosts the Moscow regional government. Russia's defense ministry confirmed that there were no injuries in the latest attack.

Moscow region, the city's mayor said on Tuesday. «Air defence shot down two attack drones. One in the Krasnogorsk area, the other in the Chastsy area,» said Sergei Sobyanin on Telegram, adding that emergency services were responding. He did not give details on damage or casualties. Russia's defence ministry reported two Ukrainian drones had been downed over the Moscow region, adding there had been no casualties. Air traffic at Moscow's Vnukovo, Sheremetyevo and Domodedovo airports had been briefly halted, the TASS news agency earlier quoted an aviation service source as saying. «Glass damage was recorded on several floors» in a multi-storey residential building in Krasnogorsk," the agency said, without specifying whether it was the result of a drone strike. «Several cars parked near the house were also damaged.» Two Ukrainian drones were downed over the Bryansk region near the Ukrainian border, Moscow's defence ministry said on Telegram, adding there were no casualties. In recent weeks, two drone attacks were repelled over Moscow's financial district, each causing minor damage to the facades of high-rise buildings.

Xi Jinping has arrived in South Africa, Chinese state media reported Tuesday, where he will attend the BRICS summit in Johannesburg. The state visit will be Xi's second of 2023, after making an official trip to Russia in March. «Chinese President Xi Jinping arrived in Johannesburg on Monday to attend the 15th BRICS Summit to be held here, and pay a state visit to South Africa,» Xinhua news agency said, adding he had been «warmly welcomed» by South African President Cyril Ramaphosa. «Xi said that he is very glad to visit South Africa again and looks forward to having in-depth exchanges of views with Ramaphosa on deepening China-South Africa relations and issues of common interest,» Xinhua said. The heads of Brazil, China, India and South Africa plus Russia's top diplomat will gather from Tuesday to Thursday this week under the theme «BRICS and Africa», South Africa's Foreign Minister Naledi Pandor said this month. Russian President Vladimir Putin — who is sought by the International Criminal Court (ICC) for his role in the Ukraine war — will not attend this year's BRICS conference in South Africa, which is a signatory of the ICC. The Chinese leader previously visited South Africa in 2018 as he sought to enhance his country's diplomatic and economic ties with the continent. On the agenda at this year's summit will be the possible future expansion of BRICS membership, which the bloc has previously indicated it is open to. Several African countries have previously expressed a desire to join the bloc, including Algeria, Egypt and Ethiopia. A total of 69 countries have been invited to the summit, including all African states. BRICS, a loosely-defined group that sees itself as a counterweight to Western economic domination,

Gas prices in Europe have surged due to concerns over possible strikes at a liquefied natural gas (LNG) plant in Australia. The Offshore Alliance union has issued a warning about a potential strike at Australia's North West Shelf facility, scheduled to begin as soon as September 2 if salary negotiations remain unresolved. Bloomberg reported a roughly 10% increase in benchmark gas prices for the European Union and the United Kingdom on Monday. While gas prices had surged following Russia's incursion into Ukraine, they had subsequently decreased. Apprehensions revolve around the North West Shelf facility's role in supplying LNG globally as Australia is a prominent supplier. Alongside this facility, Chevron-operated Gorgon and Wheatstone offshore LNG plants are also undergoing strike votes, with outcomes expected on Thursday. These three plants constitute approximately 10% of the global LNG supply. Ben McWilliams, an associate fellow at Bruegel, a think tank, cautioned that these strikes could have repercussions on worldwide LNG prices. As a response to Russia's reduction in natural gas supplies during the Ukrainian conflict, countries sought alternative energy sources, with LNG being a prominent choice. Australia, alongside Qatar and the United States, is a major global LNG exporter. Cornwall Insight, a research firm, has predicted that the uncertainty surrounding Australia's gas supply could lead to significantly higher gas prices and contribute to a substantial rise in Ofgem's price cap by January. It anticipated a rise in the price cap from £1,925.71 in Q4 2023 to £2,082.56 for a typical annual household bill in Q1 2024.

Brics bloc of emerging economies to counterbalance Western influence, while others in the group are reluctant to admit new entrants, such as Iran and Cuba, for fear of alienating Washington. The debate among the Brics nations—Brazil, Russia, India, China and South Africa—about whether and how to expand will likely feature prominently during the group’s first in-person leaders’ summit since the pandemic. The presidents of Brazil, China and South Africa, as well as the Indian prime minister, are set to attend the gathering here starting Tuesday.

BRICS group of countries starts on Tuesday in South Africa, the only add-on member of what began as a quartet of Brazil, Russia, India and China, which formed the original ‘BRIC’ coined by Goldman Sachs two decades ago by clubbing together hot emerging markets for global investors to bet on. Such summitry has been a regular feature since 2009, and its most notable achievement has been the Shanghai-based New Development Bank set up by the group as a multilateral lender, an alternative to the West-led World Bank and International Monetary Fund. What’s new is the context: a geopolitical upheaval is underway in the post-Ukraine-war world.

exports and imports of goods and services declined 2.5% on-year in January-June 2023 at $800.9 billion, think tank Global Trade Research Initiative (GTRI) said Monday. Exports of goods and services rose 1.5% to $385.4 billion in the first six months of the calendar year as against $379.5 billion in the corresponding period a year ago while imports dipped 5.9% to $415.5 billion from $441.7 billion in January-June 2022. In merchandise trade, exports fell 8.1% to $218.7 billion, while imports contracted 8.3% to $325.7 billion. “Data is showing modest decline due to weak global demand and losing competitiveness in labour intensive sectors,” said GTRI Co-founder Ajay Srivastava. Services exports during the six months grew 17.7% to $166.7 billion, while imports rose 3.7% to $89.8 billion. India exports goods to 240 countries and out of that, the country's outbound shipments declined in 134 destinations. Major countries where exports declined include the US, UAE, China, Bangladesh, and Germany.

ChatGPT, make predictions by exploiting AI’s aptitude for finding patterns in mountains of data. A portfolio manager chooses a trading strategy. The AI is then trained on a vast quantity of historical information and directed to trade within that strategy by using the tactics that would have worked best in the past.

The Clinton Global Initiative 2023 will convene “leaders, innovators and dreamers” – ranging from World Bank President Ajay Banga and The Bahamas’ Prime Minister Philip E

Volodymyr Zelenskyy thanked Danish lawmakers on Monday for helping his country resist Russia's invasion, a day after Denmark and the Netherlands announced they will provide Kyiv with American-made F-16 warplanes.Zelenskyy said that if Russia's invasion is successful, other parts of Europe would be at risk from the Kremlin's military aggression. «All of Russia's neighbors are under threat if Ukraine does not prevail,» he said in a speech in Copenhagen. Zelenskyy portrays Ukraine as defending Western values of freedom and democracy against tyranny and argues that Ukraine needs to be properly provisioned to fend off Russia's much bigger force.

Russia and China will look to gain more political and economic ground in the developing world at a summit in South Africa this week

Russia said it foiled attacks by two Ukrainian drones in the Moscow region on Monday but nearly 50 plane flights in and out of the capital were disrupted. Russia's defence ministry said it jammed a Ukrainian drone in the Ruzsky district west of the capital and later destroyed another one in the Istrinsky district nearby.

Countries worldwide are scrambling to secure rice after a partial ban on exports by India cut global supplies by roughly a fifth

By Stephanie van den Berg and Jacob Gronholt-Pedersen

NEW DELHI : Singapore, Indonesia and the Philippines, key diplomatic partners of India, have appealed to New Delhi to resume rice exports to their nations following India’s decision to suspend non-basmati shipments to check prices. Singapore has requested around 110,000 tonnes of rice from India. In June, Indonesia announced plans to import 1 million tonnes (mt) of rice from India to protect against disruptions caused by the El Nino weather pattern.

NEW DELHI: Former Russian president Dmitry Medvedev has warned that the Russia-Ukraine conflict may end up dragging on for decades as the fight is an “existential” conflict for Moscow and a «fight for its very existence». According to a report by RT, Medvedev posted on social media stating that «Russia must destroy and fully dismantle the Ukrainian state that is a terrorist in its essence, making sure this filth never re-emerges again». Medvedev, who is currently deputy chairman of the Russian Security Council, wrote: “Should it take years or even decades, then so be it. We have no choice: either we will destroy their hostile political regime, or the collective West will eventually tear Russia to pieces. And in this case, it will perish with us. Nobody needs this." «Therefore, the only way is a complete dismantling of the state machine of the hostile country and absolute guarantees of loyalty for the future. They can only be provided by Russia’s control over everything that is happening and will happen in the territories of the former Banderite state. And we will achieve that,» he said. 'Western support will dry up' MORE STORIES FOR YOU✕« Back to recommendation stor