By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s Central Bank tightened trade restrictions on Saturday, ordering exporters to repatriate foreign exchange earnings within 180 days of transactions in a bid to improve country’s depleting foreign exchange reserves. Sri Lanka is tackling its worst financial crisis in over a decade, struggling to pay for critical imports…
(Reuters) – Some U.S. hedge-fund firms that have investments from Russian oligarch Roman Abramovich have been told to freeze his assets after Britain imposed sanctions on him, the Wall Street Journal reported on Friday. Britain froze assets and imposed a travel ban on the Russian owner of Chelsea soccer club on Thursday along with six…
By Richa Naidu LONDON (Reuters) -Many Nike stores throughout Russia were open on Friday afternoon, according to checks made by Reuters, more than a week after the world’s biggest sports retailer said it was temporarily closing down all its shops in the country. Beaverton, Oregon-based Nike said the stores that were open are owned and…
By David Randall NEW YORK (Reuters) – Investors are rushing to recalibrate their portfolios for a potentially extended period of elevated commodity prices, as Russia’s invasion of Ukraine sparks eye-popping moves in raw materials that threaten to exacerbate inflation and hurt growth. Wild moves have been the norm in commodities over the last few weeks,…
By Ross Kerber (Reuters) – BlackRock Inc’s total client exposure to Russia has declined to less than $1 billion from $18 billion a month ago, before Moscow’s invasion of Ukraine led to Western sanctions and the closure of the Russian stock market, according to figures supplied by the asset manager on Friday. A spokesman for…
MONTREAL (Reuters) -Any dual registration of foreign-owned aircraft leased by Russian carriers would be inconsistent with parts of a key agreement that sets out core principles for global aviation, the United Nations’ aviation agency said by email on Friday. Russia’s government said on Thursday it had proposed allowing foreign planes leased by Russian airlines to…
WASHINGTON (AP) — Several congressional Democrats are warning that the proposed combination of Frontier Airlines and Spirit Airlines would reduce competition among low-cost carriers and drive up fares during a time of inflation. The lawmakers said previous mergers have hurt consumers and workers, and if Frontier and Spirit ever drop their budget-carrier business model, the…
By David Lawder DENVER (Reuters) -U.S. Treasury Secretary Janet Yellen said on Friday the U.S. economy is better prepared to weather economic turbulence from Russia’s invasion of Ukraine because of the $1.9 trillion COVID-19 aid package passed a year ago. Yellen, speaking at a Denver social services agency on the first anniversary of the American…
By Marc Jones LONDON (Reuters) – The cost of Russia’s invasion of Ukraine will become a lot clearer next week, with a previously unthinkable sovereign default looming, more emergency central bank measures likely and a stock market crash guaranteed if it reopens. Moscow’s “special operation” in its former Soviet neighbour has cut Russia off from…
By Elizabeth Dilts Marshall NEW YORK (Reuters) – World shares slid on Friday, pressured by uncertainty about the conflict in Ukraine and expectations the Federal Reserve will hike U.S. interest rates next week. The Nasdaq and the S&P 500 fell, weighed down by tech and growth stocks. Oil prices settled up for the day but…
