WASHINGTON (Reuters) – Ukraine’s economic output will likely contract by a staggering 45.1% this year as Russia’s invasion has shuttered businesses, slashed exports and destroyed productive capacity, the World Bank said on Sunday in a new assessment of the war’s economic impacts. The World Bank also forecast Russia’s 2022 GDP output to fall 11.2% due…
WASHINGTON (Reuters) – Inflation will remain high this year and next even as the Fed moves steadily to lower the pace of price increases, Cleveland Fed president Loretta Mester said Sunday in an interview on CBS’ “Face the Nation.” By making home, auto and other loans more expensive, Fed interest rate increases and other actions…
By Julie Gordon and Nichola Saminather OTTAWA (Reuters) – Canada has an ambitious plan to double the pace of homebuilding within a decade but the first big challenge is finding enough skilled workers, as the country grapples with the tightest labor market on record and with construction already at a multi-year high. Building more homes…
FRANKFURT (Reuters) – Russian bank VTB can no longer exercise any control over its European subsidiary in the wake of new sanctions, German regulator BaFin said on Sunday. The European Union on Friday formally adopted new sanctions against Russia, which will ban a range of imports and also ban all transactions with four Russian banks,…
(Reuters) -The Russian government said on Sunday it has increased its reserve fund used for emergency spending by 273.4 billion roubles ($3.52 billion) to ensure economic stability against the backdrop of Western sanctions over Ukraine. The sanctions, imposed after Russia invaded Ukraine on Feb. 24 in what Moscow describes as a “special military operation”, cut…
(Reuters) – The Russian government said on Sunday it was increasing its reserve fund by 273.4 billion roubles ($3.52 billion) to ensure economic stability against the backdrop of Western sanctions over Ukraine. “The funds, among other things, will be used to implement measures aimed at ensuring economic stability in light of external sanctions,” the government…
HONG KONG (Reuters) – Hong Kong will re-launch its inaugural retail green bond this month as the coronavirus pandemic eases to raise as much as HK$20 billion ($2.55 billion), the city’s financial chief said on Sunday. The Asian financial hub last month delayed a sale worth HK$6 billion because of the rapid spread of COVID-19….
