By Sruthi Shankar (Reuters) – European stocks hit a one-year low on Monday, with German and French shares set to confirm a bear market as the United States and Western allies weigh a ban on importing Russian oil, raising fears of a spike in inflation dragging economic growth. The pan-European STOXX 600 index tumbled 3.0%…
ZURICH (Reuters) – UBS’s direct exposure to Russia made up $634 million of the Swiss bank’s total emerging market exposure of $20.9 billion at the end of 2021, the bank said in its annual report. Switzerland’s biggest bank said while its direct exposure was limited and had been reduced since year-end 2021 this could be…
LONDON (Reuters) – Russia’s rouble tumbled to a fresh record low in thin offshore trade with local markets closed for trading until at least Wednesday. The rouble weakened to 130.9338 to the dollar after closing at 121.037 on Friday, according to Refinitiv data. On the EBS trading platform, the rouble softened to as low as…
TOKYO (Reuters) – Japan, which counts Russia as its fifth-biggest supplier of crude oil, is in discussion with the United States and European countries about possibly banning Russian oil imports, Kyodo News reported on Monday. The report comes after U.S. Secretary of State Antony Blinken said on Sunday the United States and European allies were…
BEIJING (AP) — China’s exports rose by double digits in January and February before Russia’s attack on Ukraine roiled the global economy. Exports grew by 16.3% over a year earlier to $544.7 billion in a sign global demand was recovering before President Vladimir Putin’s Feb. 24 invasion, customs data showed Monday. Imports advanced 15.5% to…
By Alun John and Anshuman Daga HONG KONG/SINGAPORE (Reuters) – Southeast Asian stocks are becoming a haven for international investors fleeing a worsening outlook for global equities who are hoping for sustained strength in the commodity-heavy economies of the region. Driving the renewed interest is a surge in commodity prices that spells good news, particularly…
By Florence Tan and Scott DiSavino SINGAPORE (Reuters) -Oil prices soared more than 9% on Monday, touching their highest since 2008, as the United States and European allies mull a Russian oil import ban and delays in the potential return of Iranian crude to global markets fuelled tight supply fears. Brent crude futures jumped $12.61,…
