Source link The current year could prove even more profitable for Russian banks than record-breaking 2023, Central Bank Deputy Governor Olga Polyakova said at a conference on Tuesday. Last year, a sharp rise in mortgages as well as consumer and corporate lending resulted in banks posting profits of 3.3 trillion rubles ($35.4 billion), despite Western […]
Source link The Chinese currency now accounts for the largest share of forex trading, the regulator reports The share of the Chinese yuan on Russia’s foreign exchange market hit an all-time high in March, the Bank of Russia (CBR) reported in its financial risk review on Monday. Russia’s shift away from major Western currencies started […]
Source link The Reserve Bank of India has kept the key interest rate unchanged at 6.5% amidst a stable economy In line with experts’ projections, Reserve Bank of India (RBI) Governor Shaktikanta Das affirmed on Friday that the crucial policy repo rate would be maintained at 6.5% as the economy is showing signs of robust […]
Source link Serbian President Aleksandar Vucic has said he could attend the group’s gathering planned for Russia in October Serbian President Aleksandar Vucic has said he will consider attending the BRICS Summit scheduled for the Russian city of Kazan in October 2024, after discovering that he has been invited to the gathering. During an address […]
Source link The slow-motion convoy of more than 150 vehicles arrived to protest against cheap agricultural imports Over 150 tractors descended on Britain’s Parliament on Monday evening in a noisy protest against post-Brexit regulations and trade agreements that they say are expected to endanger livelihoods and undermine food security. Farm vehicles flying UK flags made […]
Source link The struggling German economy will likely end the first quarter of the year in recession, and is not expected to recover for the rest of 2024, the central bank warned in a monthly report published on Monday. According to the forecastthe short-term outlook for German industry is “rather gloomy” due to lingering weakness […]
Source link Gabon was suspended from the economic union last September to force coup leaders to restore constitutional order The Economic Community of Central African States (ECCAS) has decided to lift sanctions imposed on Gabon in response to the ouster of President Ali Bongo in a coup last year, the military authorities announced on Saturday. […]
Source link The seizure of the country’s reserves would jeopardize the “immunity” of national assets worldwide, Elvira Nabiullina warns The global financial system would be disrupted if Brussels and Washington go through with threats to use Russian sovereign assets to help Ukraine, the head of the Bank of Russia, Elvira Nabiullina, warned on Friday. Nabiullina […]
Source link The survival of the startup that drove financial inclusion in the country and boosted the nation’s economy is now at stake In baseball, it’s three strikes and you’re out. Vijay Shekhar Sharma, founder of Indian digital payments company Paytm, and arguably the country’s largest startups poster boy, faces a possible third strike. Like […]
Source link The share of the country’s transactions with other bloc members in national currencies has reached 85%, Elvira Nabiullina says The share of Russia’s settlements in national currencies with fellow BRICS countries has increased to 85%, up from just 26% two years ago, the head of the Russian central bank, Elvira Nabiullina, told RIA […]
Source link Following the addition of new members, the group now accounts for 35% of the world’s GDP in PPP terms, Elvira Nabiullina has said The BRICS states have overtaken the G7 in terms of share in global GDP in PPP terms, the head of the Russian central bank, Elvira Nabiullina, told RIA Novosti in […]
Source link Export revenues dropped 30% compared to an all-time high recorded in 2022, the regulator estimated Russian export revenues saw a notable drop by almost a third in 2023, according to the preliminary assessment released by the Bank of Russia, which cites a decline in prices for crude oil as one of the key […]
Source link Kazakh President Kassym-Jomart Tokayev has characterized Russia as his country’s “main partner and ally,” adding that bilateral relations are “at a very high level.” In a Wednesday interview with the country’s Egemen Qazaqstan newspaper, the leader also said that close ties between the two neighbors are crucial for “ensuring regional stability and international […]
Source link More than 176,000 tons of liquefied petroleum gas have been supplied to Afghanistan this year Afghanistan has doubled imports of Russian liquefied petroleum gas (LPG) since the beginning of the year, as Moscow diversifies its energy flows from the EU to new markets, Reuters reported this week. Russia supplied over 176,000 tons of […]
Source link The currency’s reputation has been jeopardized by Brussels’ freezing of Russian assets, Elvira Nabiullina says The euro could lose its status as a global reserve currency if Brussels goes through with threats to use frozen Russian assets to help Ukraine, the head of the Russian central bank, Elvira Nabiullina, warned on Friday. “As […]