India’s macroeconomic fundamentals remain strong but the unfolding global developments pose downside risks in terms of spillover, the Reserve Bank of India (RBI) said in its monthly bulletin on Thursday. “The ongoing geopolitical crisis has heightened the uncertainty clouding the global macroeconomic and financial landscape even as the world economy struggles to recover from the … Read more
Russia’s war in Ukraine, which has caused a humanitarian crisis and convulsed global financial markets, is now threatening to crush an $81 billion economy more than 4,000 miles away in the Indian Ocean. Hit by soaring oil import costs and a dip in tourism revenue, Sri Lanka is racing to avert a default amid dwindling … Read more
Russia urged India to deepen its investments in the sanction-hit country’s oil and gas sector, and is keen on expanding the sales networks of Russian companies in Asia‘s third-largest economy. Russia’s economy faces its deepest crisis since the 1991 collapse of the Soviet Union, as the West imposes severe sanctions over Moscow’s invasion of Ukraine. … Read more
Russia controls 44% of global palladium suppplies, Ukraine produces a significant 70% of neon supples — the two key raw materials that go into making chips The Russia-Ukraine war could hit global supply chains that are already constrained due to the pandemic and the worst impact would be on the ongoing chip shortage because the … Read more
Western sanctions do not mean that Russia will truly be isolated, as the world, and Russia itself, are “too big” for that, Kremlin spokesman Dmitry Peskov told the media on Saturday. Peskov said that the “rejection of relations” following its offensive in Ukraine, and the introduction of restrictions by Europe, the US, Canada, Japan and … Read more
Stocks have been hard-hit by fears about the Russia-Ukraine war, high inflation, and rising rates. UBS investment chiefs Solita Marcelli and Mark Haefele outlined their firm’s new investing outlook. Here are the four sectors investors should target now with volatility on the upswing. A troublesome trio of risks has rattled stocks so far in 2022: … Read more
RBI has met with select bankers and is trying to assess the exposure that lenders have to Russia and to Ukraine and the impact it may have on banks. MUMBAI: Banks are scrambling after bills for imports from Russia have started bouncing and payments for exports have been stuck in the wake of sanctions imposed … Read more
Boeing suspended maintenance and technical support for Russian airlines and U.S. energy firm Exxon Mobil said it would exit Russia, joining a growing list of Western companies spurning Moscow over its invasion of Ukraine. U.S. tech giant Apple said it had stopped sales of iPhones and other products in Russia, while Ford Motor joined other … Read more
The invasion of Ukraine is causing a mass exodus of companies from Russia, reversing three decades of investment by Western and other foreign businesses there following the collapse of the Soviet Union. The list of those cutting ties or reviewing their operations is growing by the hour as foreign governments ratchet up sanctions against Russia, … Read more