Ukraine Financial News

NATO leaders are set to make a new defense spending pledge at their summit this week as support for Ukraine eats into their military budgets

Russia’s war on Ukraine will top the agenda when U.S. President Joe Biden and his NATO counterparts meet on Tuesday and Wednesday

Belarus President Alexander Lukashenko. Putin agreed to allow the Wagner founder and his men to move to Belarus and to drop criminal cases of armed mutiny against them.

Central banks are at «the end of the beginning» in their battle against inflation, as several factors keep core prices persistently high, according to top Societe Generale economist Kokou Agbo-Bloua.

Vladimir Putin met with Wagner leader Yevgeny Prigozhin days after a short-lived rebellion by the mercenary chief and his private army. Kremlin spokesman Dmitry Peskov said Monday that the three-hour meeting took place June 29 and also involved commanders from the military company Prigozhin founded.

Belarusian tennis star Victoria Azarenka accused the Wimbledon crowd of being drunk on Pimm’s after she was booed off the No.1 court as Vladimir Putin’s war spilled out into this most refined of sporting venues.

Reserve Bank of India (RBI) could have fired a shot in India's war on international card networks. The Ukraine-Russia conflict has highlighted how a country can be economically damaged if it is cut off from international payment networks. India's efforts to become self-reliant in payments systems and networks predate the war.

New Delhi: Domestic pharmaceutical industry will likely hit $57 billion by FY25, along with expansion in operating margins by 100-150 basis points (bps), according to a report by CareEdge Ratings. During FY18 to FY23, the Indian pharmaceutical industry has logged a a compound annual growth rate (CAGR) of 6-8%, primarily driven by an 8% increase in exports and a 6% rise in the domestic market. In FY23, the Indian pharma market saw a year-on-year growth of nearly 5%, reaching $49.78 billion.

Discover the implications of Russia's shift in cru... moreDiscover the implications of Russia's shift in crude oil trade towards India and China after its invasion of Ukraine.

Asset Management Study published on Monday, more than 85% of the 85 sovereign wealth funds and 57 central banks that took part in the annual survey believe that inflation will now be higher in the coming decade than in the last. A central bank in the West noted, “I think that inflation will not return to where it was in the last five years. The main question mark is how sticky it is.

Biden said in an interview that aired Sunday that Ukraine was not ready for membership in NATO and that it was «premature» to begin the process to allow Ukraine to join the alliance in the middle of a war. In an interview with CNN's Fareed Zakaria, Biden said that he did not «think there is unanimity in NATO about whether or not to bring Ukraine into the NATO family now,» and that the process could take place only after a peace agreement with Russia was in place. «If the war is going on, then we're all in war,» Biden said, referring to the alliance's commitment to mutual defense.

Joe Biden confirmed the decision to send cluster bombs to Ukraine as part of a military aid package worth $800 million. He acknowledged the difficulty of the decision but emphasised Ukraine's need for ammunition. He also stated that he had discussed the matter with allies beforehand.

Biden was in Britain on Monday for a brief visit to his key ally during which he will meet King Charles III and Prime Minister Rishi Sunak before going on to a NATO summit in Lithuania. Ahead of the visit, the White House said Biden would seek to «further strengthen the close relationship» with Britain. The king will host Biden at Windsor Castle, a royal residence west of London, where they are due to discuss climate issues, long a subject close to Charles' heart.

Victoria Azarenka produced some telling blows in an electrifying contest but in the end she lacked the chutzpah to prevent Elina Svitolina securing a place in the Wimbledon quarter-finals. Sunday's 2-6 6-4 7-6(11-9) win handed the Ukrainian wildcard a first win over Azarenka in a battle between the last two mums left standing out of the six who started in the singles draw as she snapped a five-match losing run against the Belarusian 19th seed.

By Michael Holden

interview with Fareed Zakaria of CNN ahead of his weeklong trip to Europe the US President said it was “premature" to begin the process to allow Ukraine to join the alliance in the middle of a war and that the process could take place only after a peace agreement with Russia was in place. Biden further said the US and its allies in NATOwould continue to provide President Volodymyr Zelensky and his forces the security and weaponry they need to try to end the war with Russia.

South African President Cyril Ramaphosa Sunday confirmed that the BRICS summit scheduled to be held next month, which Vladimir Putin has been invited to attend, will be ‘physical’ despite an arrest warrant against the Russian leader, reported AFP. South Africa is the current chair of the BRICS, a grouping of heavyweights that also includes Brazil, Russia, India and China and is set to host the 15th BRICS summit at the Sandton Convention Centre in its financial hub Johannesburg from August 22 to 24. "The BRICS summit is going ahead and we are finalising our discussions on the format," AFP reported quoting Ramaphosa, adding it will be a "physical" meeting.

Saudi Arabia's decision to extend its oil production cuts part of a so far largely unsuccessful bid to raise prices may trigger an economic contraction in what was the Group of 20's fastest-growing country last year. It would be a stark turnaround for the $1 trillion economy, which surged almost 9% in 2022, helping Crown Prince Mohammed bin Salman invest tens of billions of dollars in everything from sports to tourism and new cities. The boom was propelled by record crude output of around 10.5 million barrels a day and prices averaging $100 a barrel as Russia's invasion of Ukraine roiled energy markets.

Novak Djokovic contests his 100th Wimbledon match on Sunday as he continues his quest for a record-equalling eighth title while the All England Club witnessed the birth of a new star in 16-year-old Mirra Andreeva. Djokovic tackles Poland's Hubert Hurkacz on Centre Court, where he has not lost in 10 years, for a place in a 14th Wimbledon quarter-final. If he gets through that, he will face Andrey Rublev, one of two Russian men to make the last eight on Sunday, a year after they were banned from the tournament following the invasion of Ukraine. Djokovic, attempting to win a third major of 2023, and match Margaret Court's all-time record of 24 Slams, needs to find a way of piercing the seemingly impregnable Hurkacz defence. The Pole has not dropped serve at the tournament, saving all 11 break points he has faced.

(Reuters) — The foreign ministers of Russia and Turkey spoke by telephone on Sunday, a day after Ankara angered Moscow by sending five Ukrainian commanders home with President Volodymyr Zelenskiy in what Russia called a violation of a prisoner exchange agreement.

Bharat Petroleum Corporation Ltd (BPCL), Mangalore Refinery and Petrochemicals Ltd and HPCL-Mittal Energy Ltd as well as private refiners Reliance Industries Ltd and Nayara Energy Ltd continue to negotiate deals with Russia separately. The discounts could have been higher if state-controlled units, who account for roughly 60% of the 2 million barrels per day of Russian oil flowing into India, negotiated together.