Tuesday, September 27, 2022

Russian economy will not back to pre-war levels until 2030, Scope 

Market Desk (Economy): Russia’s economy is not likely to come back to pre-war levels before the end of this decade. The Ukraine war and stricter sanctions worsen long-standing economic deficiencies, Scope Ratings said in a report seen by Reuters on Friday. By the...

Indian companies swapping dollar, Asian currencies is being used 

Market Desk (Business): Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoiding US dollar and cutting the risk of breaching Western sanctions against Moscow. India has aggressively stepped...

Global economy in deep crisis and sending shockwaves 

Market Desk (Economy): First, the pandemic is turned our lives and economies upside down and it is not over still. The continued spread of the virus could give rise to even more contagious or worse, prompting further disruptions and divergence between rich and poor countries. 2nd, the...

War sets back world recovery, IMF says 

Market Desk (Economy): The war in Ukraine has triggered a costly humanitarian crisis and the world demands a peaceful resolution soon. However, economic damage from the conflict will contribute to a significant slowdown in global growth in 2022 and add to inflation. Fuel and...

Saudi Aramco overtakes Apple as world’s most valuable company 

Market Desk (Business): Apple has lost its crown as the world’s most valuable company to the oil giant Saudi Aramco. In a sign that the old economy is reasserting itself over the new this year, Aramco eclipsed Apple on Wednesday night amid the ongoing...

Remittances to reach US$630bn in 2022 with record flows to low 

Market Desk (Economy): The World Bank says the war in Ukraine could slow the growth of expatriate incomes in lower and middle-income countries by half of the previous year. Officially recorded remittance flows to low and middle-income countries (LMICs) are expected to increase...

Elon Musk buys large stake in Twitter 

Market Desk (Finance): Elon Musk has bought a 9.2% stake in Twitter, according to a regulatory filing published Monday by Securities and Exchange Commission. Musk's 9.2% stake is equivalent to 73,486,938 shares of Twitter stock and is worth US$ 2.89bn based on the company's...

Baltic States stop Russian gas imports  

Market Desk (economy): The head of Latvia's natural gas storage operator says the Baltic countries are no longer importing Russian natural gas. He said it on Saturday (2nd April). Uldis Bariss, CEO at Conexus Baltic Grid said that in the current context, it is clear that Russia cannot be trusted. Latvia...

Sri Lanka to turn off street lights in deepening crisis 

Market Desk (Economy): Sri Lanka has decided to turn off all street lights after announcing a record 10 hours of power outages across the country as hydropower is also declining amid the acute energy crisis, the news quoted from minister as saying. The worst...

UAE says energy market needs Russian oil 

Market Desk (Economy): UAE energy minister says the energy market needs Russian oil and urges OPEC+ not to allow politics to distract the group. Russian oil is needed by energy market and no producer can substitute its production, UAE energy minister Suhail al-Mazrouei said...

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Big Tech Companies: Loophole in privacy law

Market Desk (Tech): If anyone read the privacy policies of Face book, Twitter, Amazon, Apple and Google to find...