Ukraine Financial News

Inflation is down in Europe

The Economist has adjusted SIPRI’s estimates for military purchasing-power parity (PPP), with help from Peter Robertson, a researcher at the University of Western Australia. This makes defence budgets comparable with America’s: pay is adjusted for wage differences and operating costs for general price levels. (Equipment costs are left the same, as much of the kit is imported, and its relative quality is hard to judge.) The adjustments show that Ukraine’s budget increases (though not its total budget) will stretch further than Russia’s, for example, even though its budget grew at a slightly slower rate in nominal terms (see chart 1).

Ukraine from frozen Russian central bank assets regardless of issues raised by the US, the bloc's top diplomat said. A Group of Seven agreement to leverage proceeds of the blocked assets has faced delays as Washington seeks firmer assurances that the EU will be able to renew sanctions measures in the face of the opposition from Hungary. The US wants to ensure that the plan, which aims to generate $50 billion in loans for Kyiv, moves forward before seeking approval from Congress.

Russia conducted a heavy aerial attack on Ukraine for the third time in four days Thursday, again launching missiles and scores of drones that mostly were intercepted, Ukraine's air force said. Russian forces fired five missiles and 74 Shahed drones at Ukrainian targets, an air force statement said. Air defenses stopped two missiles and 60 drones, and 14 other drones presumably fell before reaching their target, it said. Authorities in the capital, Kyiv, said debris of destroyed drones fell in three districts of the city, causing minor damage to civilian infrastructure but no injuries. Russia's relentless and unnerving long-range strikes on civilian areas have been a feature of the war since it invaded its neighbor in February 2022.

French President Emmanuel Macron starts a two-day state visit to Serbia, with the focus on the possible sale of 12 Rafale multi-purpose fighter jets to the country, which has maintained close ties to Russia despite its invasion of Ukraine

BEIJING — U.S. President Joe Biden and Chinese President Xi Jinping are set to speak over the phone in «coming weeks,» the White House said Wednesday.

The leaders of Germany and the United Kingdom have announced plans to draw up a treaty meant to deepen the two nations’ trade, defense and other relations

Poland’s budget proposal for 2025 includes record defense spending of 187 billion zlotys or $48.7 billion

The Antique", which has been reportedly called Georgian anti-Vladimir Putin movie, has been stopped from being premiered in Venice parallel section Giornate degli Autori (GdA), as per a Deadline report. The screening of «The Antique» was stopped after Russian and Croatian producers claimed that there are copyright issues pertaining to the film's screenplay, Deadline reported. Georgian producers and MPM International have countered these claims. The movie is reportedly inspired from Georgian nationals' expulsion in 2006, as per the report.

Telegram, was detained in Paris. The analysts believe that the Kremlin may take advantage of the global uproar to target one of the few platforms that has escaped censorship. According to George Barros of the Washington-based Institute for the Study of War think tank, the 39-year-old Durov left the nation in 2014 after he allegedly refused to turn over the encryption keys, and the Kremlin has been attempting to obtain Telegram for years to expand its power to censor and control the content on the app.

France’s arrest of Telegram CEO Pavel Durov over the weekend has made the Russian-born entrepreneur a cause célèbre for free speech, but is his detention or exaltation warranted? Hard to know, which speaks to the problem with Europe’s censorship regime. Conservatives in the U.S. are rallying around Mr.

Ukraine has begged its allies for permission to strike Russian territory with Western-supplied long-range missiles, but has been mostly rebuffed.Now, Kyiv says it has its own weapon that’s just as good.The Palianytsia was created by Ukraine’s burgeoning defence industry to finally provide “answers” to waves of Russian bombings and missile strikes, Defense Minister Rustem Umerov promised Monday.Ukrainian President Volodymyr Zelenskyy called it “a new class” of weapon, and released a video suggesting it can strike hundreds of kilometres inside Russia.Those comments came after Russian missiles and drones targeted Ukraine’s electrical infrastructure in the largest such attack in weeks. A second barrage on Tuesday killed at least five people.“Ukraine is preparing its response.

A Pennsylvania ammunition plant that makes a key artillery shell in Ukraine’s fight against Russia has managed to boost production by 50% to meet surging demand, with more capacity set to come on line

Ukraine says it has a new homegrown long-range weapon that will allow it to strike deep into Russia without asking permission from allies

China has expressed its opposition to the latest U.S. sanctions on Chinese companies over their alleged ties to Russia’s war in Ukraine, saying it would adopt necessary measures to safeguard the rights and interests of the country’s businesses

Telegram founder & CEO Pavel Durov has hit the headlines for the wrong reasons. The billionaire was detained by the French police after his private jet arrived at Le Bourget Airport on Saturday evening. The entrepreneur was arrested after Telegram users filed complaints regarding the lack of moderators on the app.

China's Ministry of Commerce said on Sunday it strongly opposed a U.S. decision to add multiple Chinese entities to its export control list over Russia-related issues. The United States on Friday added 105 Russian and Chinese firms to a trade restriction list over their alleged support of the Russian military. The companies — 42 Chinese, 63 Russian and 18 from other countries — were targeted for reasons from sending U.S. electronics to Russian military-related parties to producing thousands of Shahed-136 drones for Russia to use in its invasion of Ukraine.

Also read: India’s retail inflation eases to 3.54% in July, lowest in five years Meanwhile, Brazil surged four positions to claim third place in the EM league table, fueled by robust exports and strong manufacturing activity. Notably, Brazil also had the highest import cover among its peers.

The U.S. has imposed sweeping sanctions against hundreds of firms across Russia, Europe, the Middle East and Asia, accusing them of providing products and services that enable Russia’s war effort and aiding its ability to evade sanctions

Pavel Durov, billionaire founder and CEO of the Telegram messaging app, was arrested at the Bourget airport outside Paris on Saturday evening, TF1 TV and BFM TV said, citing unnamed sources. TF1 and BFM both said the investigation was focused on a lack of moderators on Telegram, and that police considered that this situation allowed criminal activity to go on undeterred on the messaging app. Telegram did not immediately respond to a Reuters request for comment. The French Interior Ministry and police had no comment. Russia's Foreign Ministry said it was taking steps to «clarify» the situation and questioned whether Western non-governmental organizations (NGOs) would seek his release…

Volodymyr Zelenskyy's comments on India's crude oil trade with Russia may not have been in the right spirit, coming hours after his meeting with Prime Minister Narendra Modi in Kyiv during which New Delhi explained the market rationale for oil imports given its substantial requirements. Emphasising on India's «global influence», Zelenskyy suggested that India can help end Moscow's war in Ukraine by halting the oil trade that significantly funds the Russian military. «You can stop Vladimir Putin and halt his economy, and put him really in his place,» Zelenskyy told members of the Indian media on Friday night in Kyiv, referring to his meeting with Modi earlier in the day.