(Reuters) – Russia, hit by Western sanctions, has called on the BRICS group of emerging economies to extend the use of national currencies and integrate payment systems, the finance ministry said on Saturday. Sanctions have cut Russia off from the global financial system and from nearly half of its gold and foreign exchange reserves, which…
By Devjyot Ghoshal and Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka will need about $3 billion in external assistance in the next six months to help restore supplies of essential items including fuel and medicine, its finance minister told Reuters on Saturday. The island nation of 22 million people has been hit by prolonged power cuts…
COPENHAGEN (Reuters) – Danish investment bank Saxo Bank said on Saturday it had terminated clients from Russia and Belarus in response to sanctions imposed on those countries following Russia’s invasion of Ukraine. “It is a small number of clients, and a decision made on the basis of the tougher sanctions imposed on the two countries…
LONDON (Reuters) – Russia faces its first sovereign external default in over a century after it made arrangements to make an international bond repayment in roubles earlier this week, even though the payment was due in U.S. dollars. S&P on Saturday lowered the country’s foreign currency ratings to “selective default” on increased risks that Moscow…
(Reuters) -YouTube has blocked Duma TV which broadcasts from Russia’s lower house of parliament, drawing an angry response from officials who said the world’s most popular streaming service could face restrictions in response. On Saturday, a message on YouTube said the Duma channel had been “terminated for a violation of YouTube’s Terms of Service”. YouTube,…
MILAN (Reuters) -Leading investor advisers have recommended shareholders at Generali back the proposal by the Italian insurer’s outgoing board to hand CEO Philippe Donnet another term at the helm, documents showed on Saturday. In reports issued by Institutional Shareholder Services (ISS) and Glass Lewis ahead of an April 29 general meeting to name a new…
(Reuters) -The chairman of Vietnam’s Vingroup conglomerate said on Saturday that the company’s auto unit, VinFast, would seek financing from the U.S. government to support its expansion with a planned plant in North Carolina. “It is also one of our financing options, but we need to prove to them that we are qualified,” Vingroup Chairman…
By Devjyot Ghoshal and Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka will need about $3 billion in external assistance within the next six months to help restore supplies of essential items, including fuel and medicines, to manage a severe economic crisis, its finance minister said on Saturday. The island nation of 22 million people has…
MELBOURNE (Reuters) – S&P on Saturday lowered Russia’s foreign currency ratings to “selective default” on increased risks that Moscow will not be able and willing to honor its commitments to foreign debtholders. Facing waves of sanctions over its invasion of Ukraine, Russia could face its first sovereign external default in over a century after it…
(Reuters) – The chairman of Vietnam’s Vingroup conglomerate said on Saturday that the company’s auto unit, VinFast, could seek financing from the U.S. government to support its expansion with a planned plant in North Carolina. “It is also one of our financing options, but we need to prove to them that we are qualified,” Vingroup…
