LONDON – The world’s top association of ship certifiers has withdrawn membership from the Russia Maritime Register of Shipping (RS) due to the impact of sanctions on Moscow after its …
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By Amal S – Canada’s commodity-heavy main stock index fell on Monday, extending prior session’s losses, weighed down by weakness in energy and mining shares as commodities slumped on hopes …
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Financial News
India’s Feb retail inflation up 6.07% y/y, above RBI target for 2nd month
by Reutersby ReutersBy Manoj Kumar and Aftab Ahmed NEW DELHI – India’s annual retail inflation in February for a second consecutive month exceeded 6%, above the central bank’s tolerance limit, while economists …
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By Elvira Pollina MILAN -Telecom Italia shares rose on Monday after Italy’s biggest phone group said it would pursue a domestic broadband deal, while also engaging in talks with KKR …
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Berlin wants to buy 35 Lockheed F-35 fighter jets, def min tells parliament
by Reutersby ReutersBERLIN – Berlin aims to purchase 35 F-35 fighter jets built by Lockheed Martin to replace its ageing Tornado aircraft in the role of nuclear sharing, the German defence ministry …
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-Rivian Automotive Inc has named Frank Klein, a former executive at Canadian auto parts maker Magna International’s unit, as its chief operating officer, at a time when the electric carmaker …
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EU gives initial agreement to board quotas for women, more talks needed
by Reutersby ReutersBRUSSELS – European Union states have given initial approval to pushing firms to appoint women to at least 40% of non-executive director roles or 33% of all board jobs by …
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Russia says it may have to service FX debt in roubles due to sanctions
by Reutersby Reuters-Russia’s finance ministry is preparing to service some of its foreign currency debt on Wednesday, but such payments will be made in roubles if sanctions prevent banks from honouring debts …
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MILAN – Italy’s Prada confirmed its medium-term growth targets after “a strong start” to 2022, though the luxury group said the war in Ukraine would make any predictions uncertain. Earlier …
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FRANKFURT – The German insurer and asset manager Allianz said on Monday that it had put a stop to insuring new business in Russia and was no longer investing in …
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China will ensure stable economic operations this year, cabinet says
by Reutersby ReutersBEIJING – China will ensure stable economic operations this year, keep economic growth, employment and prices within reasonable ranges, state media quoted the cabinet as saying on Monday. China’s economy …
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Musk says Tesla, SpaceX face ‘significant’ inflationary pressure
by Reutersby Reuters-Tesla Inc Chief Executive Officer Elon Musk said the U.S. electric carmaker and his rocket company SpaceX are facing significant inflationary pressure in raw materials and logistics. Musk in a …
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Ukraine finance minister says hryvnia currency will remain stable
by Reutersby ReutersLVIV, Ukraine – Ukrainian Finance Minister Serhiy Marchenko said on Monday he believed the hryvnia currency rate would remain stable. “Exchange rate stability will be maintained,” he said on national …
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-Russia is gradually resuming wheat exports from its Black Sea ports while navigation in the Azov Sea remains restricted, analysts said on Monday. “Exports are ongoing from all the five …
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Sri Lanka finance minister meets top IMF official amid economic crisis
by Reutersby ReutersBy Uditha Jayasinghe COLOMBO – Sri Lanka’s finance minister held talks with a top International Monetary Fund (IMF) official on Monday, two sources said, as the island nation seeks help …
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China’s Tencent faces possible record fine for anti-money-laundering violations – WSJ
by Reutersby Reuters– Tencent Holdings Ltd is facing a potential fine, which could be at least hundreds of millions of yuan, for violating some central bank regulations on its WeChat Pay mobile …
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By Nidhi Verma and Sethuraman N R New Delhi -India will take “appropriate” steps to calm the rise in oil prices, triggered by Russia’s invasion of Ukraine, the junior oil …
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By Mimosa Spencer PARIS – Gucci owner Kering is bolstering its high-end eyewear division with a deal to buy U.S.-based label Maui Jim, the French luxury group said Monday. European …
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ISTANBUL – Ford Motor Co’s Turkish joint venture will buy the U.S. company’s Craiova plant in Romania for 575 million euros ($630 million) and plans to move Courier van production …
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Velodyne says founder David Hall and wife Marta slash stake to about 10%
by Reutersby Reuters– Sensor maker Velodyne Lidar Inc said on Monday founder David Hall and wife Marta Hall have cut their stake in the company to 10.1% from 42.9%. David Hall also …
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Russia to use yuan from its forex reserves, finance minister says
by Reutersby Reuters– Russia will use Chinese yuan from its foreign exchange reserves after Western sanctions blocked Moscow’s access to the U.S. dollars and euros in the reserves, Finance Minister Anton Siluanov …
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Inflation-wary bond markets focused on Fed’s tricky balancing act
by Reutersby ReutersBy Karen Brettell – With the Federal Reserve almost certain to hike interest rates this week for the first time in more than three years, investors will be focused on …
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By Francesco Guarascio and Gabriela Baczynska BRUSSELS – Top European Union diplomats have agreed to add Chelsea football club owner Roman Abramovich to the EU list of Russian billionaires sanctioned …
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EU members should keep budgets ‘reactive’ over Ukraine crisis – France
by Reutersby ReutersPARIS – EU governments need to keep their fiscal stances “reactive” in the face of the current Ukraine crisis with targetted measures for households and firms, French Finance Minister Bruno …
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India’s top refiner IOC buys 3 million bbls Russian Urals crude via tender -sources
by Reutersby ReutersBy Nidhi Verma NEW DELHI – Indian Oil Corp, the country’s top refiner, bought 3 million barrels of Russian Urals from trader Vitol for May delivery, trade sources said, its …