(Reuters) – The Russian central bank raised its key interest rate to 20% from 9.5% on Monday in an emergency move, and authorities told export-focused companies to sell foreign currency as the rouble tumbled to record lows. “External conditions for the Russian economy have drastically changed,” the central bank said in a statement. “The increase…
MOSCOW (AP) — Ordinary Russians faced the prospect of higher prices and crimped foreign travel as Western sanctions over the invasion of Ukraine sent the ruble plummeting, leading uneasy depositors to line up at banks and ATMs on Monday in a country that has seen more than one currency disaster in the post-Soviet era. The…
SINGAPORE (Reuters) – Commodities trader Olam International is focused on completing the IPO of its food ingredients unit in the second quarter but it is also tracking market movements to see the potential impact on the timing, executives said on Monday. Singapore-based Olam in August announced plans for Olam Food Ingredients (OFI) to pursue a…
Europe and Canada said Sunday they would close their airspace to Russian airlines after Russia’s invasion of Ukraine, raising the pressure on the United States to do the same. European Commission President Ursula von der Leyen said the European Union would shut down its airspace for planes owned, registered or controlled by Russians, “including the…
SEOUL (Reuters) – South Korea will tighten export controls against Russia, by banning exports of strategic items, and join Western countries’ moves to block some Russian banks from the SWIFT international payments system, Seoul’s foreign ministry said on Monday. The Korean government has also decided to promote the additional release of strategic oil reserves for…
By Scott Murdoch and Anshuman Daga SYDNEY/SINGAPORE (Reuters) -Chinese electric vehicle (EV) maker Nio Inc plans to carry out secondary listings by introduction in Hong Kong and Singapore as it seeks to grow its business in the region. Stock exchange filings on Monday showed the New York-listed firm had received preliminary approval from the Hong…
BEIJING (Reuters) – China’s factory activity likely contracted in February on slower production after the Lunar New Year holiday and Winter Olympics, with Beijing expected to unveil more stimulus measures at a parliamentary meeting later this week to support the economy. The official manufacturing Purchasing Manager’s Index (PMI) is expected to ease to 49.9 in…
SINGAPORE (Reuters) -The Russian rouble tumbled to a record low against the dollar on Monday, after Western nations announced a harsh set of sanctions over the weekend to punish Russia for its invasion of Ukraine, including curbs on the country’s currency reserves. The rouble fell as far as 119.50 per dollar in Asian trading, a…
By Kevin Buckland and Alun John TOKYO (Reuters) – The rouble plunged to an all-time low on Monday, and the dollar soared against nearly all peers after Western nations announced fresh sanctions to punish Russia for its invasion of Ukraine, and Vladimir Putin put nuclear-armed forces on high alert. The rouble dropped to as low…
TOKYO (AP) — Asian shares rose Tuesday as global investors eyed talks aimed at ending the Russian military assault on Ukraine, which so far have yielded just an agreement to keep talking. Benchmarks were higher in early trading in Tokyo, Sydney and Shanghai. Hong Kong declined and markets were closed in South Korea for a…
