Ukraine Financial News

Big banks warned of an uncertain year ahead after mixed financial results during the first quarter in an environment of stubbornly high inflation and geopolitical clashes in Europe, the Middle East and elsewhere

Russia, Congress leader Randeep Singh Surjewala Saturday said the Ministry of External Affairs has informed him that the Indian embassy in Moscow has raised the matter with authorities there. Surjewala said he had written to External Affairs Minister S Jaishankar on April 7, seeking his intervention to ensure the safe return of the eight youngsters stuck in war-torn Ukraine. The Congress Rajya Sabha MP said he received a reply from the ministry on April 12 which stated that the Indian embassy in Moscow has taken up the matter with the Russian authorities concerned. «Larger issue of other Indian nationals who had been misled into joining the Russian Army was also taken up by Foreign Secretary with Russian Ambassador in New Delhi. In order to preclude recurrence of such incidents in future, we have also advised Indian citizens to stay away from the conflict,» according to the communication Surjewala received from the ministry.

Ukraine's army chief said on Saturday the situation on the eastern front had deteriorated in recent days with Russia intensifying its armoured assaults and battles raging for control of a village west of the devastated city of Bakhmut. The statement by Colonel General Oleksandr Syrskyi more than two years since Russia's invasion evoked the increasingly grim mood in Kyiv as vital U.S. military aid that Kyiv expected to receive months ago remains stuck in Congress. Syrskyi said he travelled to the embattled area to stabilise the front as Russian assault groups using tanks and armoured personnel carriers took advantage of a period of dry, warm weather that was making it easier for them to manoeuvre.

eastern front has deteriorated significantly in recent days" in the face of a heightened Russian offensive, Ukraine's commander-in-chief Oleksandr Syrsky said Saturday. Syrsky, who took over as commander-in-chief in February after Ukrainian President Volodymyr Zelensky fired his popular predecessor, Valery Zaluzhny, said Russians also had superior weapons. He spoke of «a significant intensification of the enemy's offensive after the presidential elections in Russia,» in the middle of March and added that decisions were being taken «to strengthen the most problematic defence areas with electronic warfare and air defence».

AI) chips to China's military modernization efforts. This move comes as part of the US government's efforts to prevent sensitive American technology from being used for military purposes in China. The blacklisted companies, including Linkzol (Beijing) Technology Co, Xi'an Like Innovative Information Technology Co, Beijing Anwise Technology Co, and SITONHOLY (Tianjin) Co, were among 11 additions to the Commerce Department Entity List this week. Being placed on this list makes it significantly challenging for these companies to access American goods and technology.

Ukraine, China is helping Russia ramp up its defence industrial base at such a large scale that Moscow is now undertaking its most ambitious expansion in military manufacturing since the Soviet era, CNN reported, citing senior Biden administration officials. One of the official claimed that the Chinese and Russian entitles have also been working jointly to produce drones inside of Russia. The support from China is having a significant impact on Russia's ability to continue its assault on Ukraine, while Ukraine's military has been plagued with equipment and weapon shortages. The challenge for Ukraine is exacerbated by Republicans in the US Congress continuing to block a vote on a new American military aid package to Kyiv.

China has surged sales to Russia of machine tools, microelectronics and other technology that Moscow in turn is using to produce missiles, tanks, aircraft and other weaponry for use in its war against Ukraine, according to a US assessment. Two senior Biden administration officials, who discussed the sensitive findings Friday on the condition of anonymity, said that in 2023 about 90 per cent of Russia's microelectronics came from China, which Russia has used to make missiles, tanks and aircraft. Nearly 70 per cent of Russia's approximately USD 900 million in machine tool imports in the last quarter of 2023 came from China.

S Jaishankar on Friday emphasised that the 20,000 children who came back from Ukraine were "Modi ki Guarantee," adding that foreign policy is not just for diplomats, but has an impact on every person's life. During an interaction with the youths of Pune on the launch of the Marathi translation of his book: «Why Bharat Matters» he discussed about India's global rise and improved opportunities on Friday. «Today's world is globalised, and it means that whether you believe it or not, the world will come to your door. In the last three years, we have seen the Covid pandemic. It started somewhere else; who thought it'd reach India...and will turn our lives,» EAM Jaishankar said.

foreign exchange reserves touched a fresh record high of $648.56 billion in the week ended April 5th, topping the previous high of $645.58 billion, latest data published by the central bank showed. The reserves rose by $2.9 billion and were primarily driven by gold assets that climbed $2.4 billion. A spike in bullion (gold) prices has caused reserves to surge. This is the third time in the past two months where reserves have touched fresh highs. Potential supply chain disruptions spawned by uncertain geopolitics in West Asia and Eastern Europe prompted central banks to increase their gold assets, helping mitigate the impacts of currency volatility and elevated interest rates in the US.

Gold jumped to another record as the safe haven asset was boosted by simmering Middle East tensions.

The head of the International Monetary Fund says strong economic activity in the United States and emerging markets is projected to help drive global growth by about 3% this year

Biden administration to stop approving any more flights between the United States and China. This comes as they said due to “anti-competitive" policies that China imposes on the US carriers. On Thursday, the airlines and unions claimed that China closed its market to US carriers at the outbreak of the pandemic.

Hungary’s government will add new restrictions on the import of Ukrainian agricultural products to protect Hungarian farmers from market fluctuations caused by cheaper Ukrainian imports

Russia launched a major missile-and-drone assault on Ukrainian power stations, part of a new campaign to exploit delays in Western aid for Kyiv to press Moscow’s growing advantage in the third year of war. The overnight strikes hit several regions across the country, destroying a power plant in the Kyiv region and inflicting fresh damage on others that had been struck in earlier attacks. Tens of thousands of homes were left without power, according to Ukrainian officials.

Also Read: Oil traders stay bullish as Brent hovers at $90: ‘Crude to stay elevated even if Middle East tensions cool down’ The elevation in crude prices also comes as OPEC, the group comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, last kept its oil supply policy unchanged and pressed some countries to increase compliance with output cuts. Morgan Stanley said that with OPEC supply restraints, some downside to Russia production, and a seasonal upswing in demand ahead, it expects tightness in the second and third quarters.

Russian businessmen Mikhail Fridman and Petr Aven won a court case Wednesday over a European Union decision to sanction them for their alleged role in Russia’s war against Ukraine

India on Wednesday said it is and will remain Colombo's most reliable friend and dependable partner as it underlined that New Delhi was willing to offer modern defence equipment to friendly partner countries like Sri Lanka. Addressing the Second India-Sri Lanka Defence Seminar here, India's High Commissioner to Sri Lanka, Santosh Jha, said that like in other areas, India and Sri Lanka were cooperating closely on security and defence matters. «Because of our geography, our security is interlinked and intertwined. And when we speak of security, we must remember that it has acquired a wider meaning than we have traditionally associated with it,» Jha said and added, after the Covid19 pandemic and impact of Russia-Ukraine conflict, it has come to include energy, health, food and even economic security. The various advanced platforms and equipment developed indigenously in India can also become viable, affordable and modern solutions for the Sri Lankan military, he said.

A 'Mornings with Maria' panel weighs in on the March Core CPI, the Fed's expected rate cuts and their overall market outlook.

New Delhi: India and the Czech Republic are in talks to enhance defence cooperation, leveraging the shared utilization of Soviet and Russian-made defense platforms between the two nations. The discussions center on the possibility of Czech defense firms providing maintenance services, spares, and equipment to the Indian Army and Air Force, Eliska Zigova, Czech Republic’s Ambassador to India, said in an interview. “We understand that India has had a lot of cooperation in the past with the Soviet Union’s defense industry.

Rajnath Singh said on Wednesday and asserted «it is our character that we do what we say». Speaking at a campaign rally for the BJP's Saharanpur candidate Raghav Lakhanpal, he said, «A few years ago, there was a perception that politicians speak lies to seek votes and go away. They don't care about the public or the nation. This was the common perception towards politicians and political parties.» «We have changed this perception. It is our character that we do what we say. Earlier, it was the norm to think that a politician would lie but we changed this perception,» Singh added. The defence minister said political parties make big promises in their manifestos but forget those after assuming power.

Six northern Europe countries bordering the North Sea have signed an agreement to work together to protect underwater infrastructure in the northern part of the Atlantic Ocean from an increased risk of sabotage