JP Morgan downgrades India’s IT sector as pandemic boom fades
Soaring inflation, supply chain issues and the hit from the Ukraine war will bring an end to the growth boom India’s IT services industry enjoyed during the pandemic, J....
Crypto crash leaves El Salvador with no easy exit from worsening crisis
El Salvador’s big bet on bitcoin, which the Central American nation has been buying since September, has soured in recent weeks as a cryptocurrency rout shaved over a third ...
Tesla cut from S&P 500 ESG Index, and Elon Musk tweets his fury
An S&P Dow Jones Indices executive told Reuters on Wednesday it has removed electric carmaker Tesla Inc (TSLA.O) from the widely followed S&P 500 ESG Index (....
British Airways owner IAG to order 50 Boeing 737 MAX jets
British Airways owner IAG (ICAG.L) said on Thursday it has agreed to order 50 Boeing (BA.N) 737 MAX jets for delivery between 2023 and 2027, in a vote of confidence in the ...
World Bank to offer $30 bln as Ukraine war threatens food security
The World Bank said on Wednesday it will make $30 billion available to help stem a food security crisis threatened by Russia’s war in Ukraine, which has cut off most ...
Sony readies for metaverse revolution with cross-platform push
Japanese conglomerate Sony Group Corp (6758.T) said it is well-positioned to play a leading role in the metaverse, or immersive virtual worlds, which commentators speculate will massively disrupt industries and ...
Rouble dips against dollar after Russia eases capital controls
The Russian rouble weakened against the dollar on Wednesday but steadied not far from a five-year high against the euro, after losing the support of some capital controls and as ...
Qatar to invest $5 bln in Spain’s EU-funded recovery, Emir says
Qatar’s $300 billion sovereign wealth fund plans to invest $5 billion in Spanish projects, the Gulf state’s ruler said late on Tuesday in a dinner held in his honour in ...
About 300,000 T of wheat bought by Egypt stranded in Ukraine
About 300,000 tonnes of Ukrainian wheat booked by Egypt’s state grains buyer for delivery in February and March is yet to be shipped, with one cargo stuck in port and ...
Why Twitter has ignored Elon Musk’s ‘trolling’
A unilateral pronouncement that the acquisition of Twitter Inc (TWTR.N) is “on hold”. Fierce criticism of the social media company’s handling of spam accounts. A “poop emoji” directed ...
Russia jumps to 4th position as oil supplier to India
Russia became the fourth-largest oil supplier to India in April, with volumes set to rise further in coming months as low prices spur demand from the world’s No. 3 oil ...
The long war and its collaterals
By Ioannis Tirkides
Wars are highly uncertain events and never go as initially planned. This one in Ukraine is no exception. Russia was surprised by the resistance it met in ...
Russians top foreign buyers as Turkish house sales rise by 38.8 per cent
Turkish house sales rose 38.8 per cent in April on the year to 133,058 houses, data from the Turkish Statistical Institute showed on Tuesday, with more than double the houses sold to ...
German finance minister open to seizing Russia cenbank assets – Handelsblatt
German Finance Minister Christian Lindner is open to the idea of seizing Russian state assets to finance the reconstruction of Ukraine, he said in an interview with German business daily ...
Russia gives Credit Bank of Moscow licence to export gold
Credit Bank of Moscow (MKB), one of Russia’s largest private lenders, has obtained a gold export licence from the government, it said on Monday, becoming the latest Russian bank ...
Eni to open bank accounts to pay for Russian gas after EU clarification
Italian energy group Eni (ENI.MI) will open bank accounts this week to pay for Russian gas after clarification that such a move will not breach sanctions, two sources said ...
Backer of stricken TerraUSD says spent reserves trying to salvage dollar peg
An affiliate of the company behind collapsed stablecoin TerraUSD on Monday said it had spent the bulk of its reserves trying to defend its dollar peg last week and would ...
Musk tells conference a lower price for Twitter might be appropriate
Elon Musk suggested that a lower price for Twitter Inc (TWTR.N) may be appropriate as he and CEO Parag Agrawal quarreled over the company’s estimates of spam accounts ...
FTX’s billionaire chief says bitcoin has no future as a payments network
Cryptocurrency exchange FTX’s founder has said that bitcoin has no future as a payments network and criticized the digital currency for its inefficiency and high environmental costs, the Financial ...
Vodafone shares up 4 per cent after UAE group buys stake
Shares in Vodafone (VOD.L) jumped 4 per cent in early trade on Monday after the United Arab Emirates-based telecoms company e& (ETISALAT.AD) revealed it had bought a 9.8 per ...
Snowless Davos readies new face for World Economic Forum meeting
Movers and shakers arriving for the annual meeting of the World Economic Forum (WEF) this month can pack sandals instead of ski boots for a rare springtime version of the ...
Factbox: Companies sell their businesses in Russia
Some Western companies have agreed to sell their Russian assets or hand them over to local managers as they scramble to comply with sanctions over the Ukraine conflict and deal ...
Russian oil output up 1.7 per cent month on month in May so far, Interfax reports
Russian oil and gas condensate average output has increased by around 1.7 per cent month on month to 1.4 million tonnes per day (10.25 million barrels per day) in the first half of ...
Nigeria’s markets regulator publishes rules on crypto assets
Nigeria’s markets regulator has published a set of regulations for digital assets, signalling Africa’s most populous country is trying to find a middle ground between an outright ban ...