Washington/Moscow: The World Bank claimed that the G7 countries alone are incapable of capping the prices of Russian oil and that participation from more countries would be needed. The World Bank report argues that such a mechanism to control oil prices is unprecedented and poses a significant risk. Against the backdrop of the World Bank […]
Read More »
Canberra: Indian External Affairs Minister has once again criticized the US for providing a package of $45 crores to Pakistan Air Force for F-16 aircraft. Speaking during his visit to Australia, External Affairs Minister Jaishankar reminded that the US had decided to supply arms to the dictators of Pakistan, avoiding direct naming. External Affairs Minister […]
Read More »
Moscow: In 2014, Russia introduced an independent payment system as an alternative to SWIFT, which is widely used for international banking transactions. Officials of the Central Bank of Russia have claimed that their system, known as SPFS, is getting an encouraging response globally. Alla Bakina said that the total number of enterprises connected to this […]
Read More »
Berlin: In the wake of the Russia-Ukraine conflict, the process of globalisation has come to a standstill. Besides, there is no possibility of its recovery. At the same time, there is a risk of fuel shortage and inflation is also likely to continue. The head of Deutsche Bank, Christian Sewing, warned that due to these […]
Read More »
Brussels: Due to flaring inflation and declining productivity, the European continent is predicted to be hit by the economic recession. Despite this threat of recession, the European Central Bank, the central bank of the European Union, has increased the interest rate by an unprecedented 0.75%. The impact of this interest rate hike has started to […]
Read More »
London: The Bank of England, the central bank, is predicting Britain’s economy to enter recession by the end of this year. The governor of the Bank of England, Andrew Bailey, said that the economic price of the war must be paid and warned Britain to prepare to face the peak inflation index in the next […]
Read More »
Beijing: China, the world’s second-largest economy, is still in recession. Last month, it was revealed that China’s economic growth rate had dropped to 0.4%. After that, there are indications that the crisis in China’s ‘Real Estate’ sector is taking a more serious form. International financial institutions have predicted a 30% drop in China’s housing and […]
Read More »
Moscow/Washington: The western leaders had bragged that the harsh sanctions imposed on Russia following the invasion of Ukraine would break the Russian economy, and it would be forced to stop the Ukraine war. But the performance of the Russian economy has delivered a tight slap across the face of these leaders making such claims. There […]
Read More »
Moscow: Russia’s President Vladimir Putin has warned that sanctions imposed on Russia by the West over the Ukraine conflict have led to a global economic crisis, food shortages and starvation among several developing countries. Russia is facing tough sanctions, and its economy is slowly recovering, he said. Amid Putin’s claims, Russia’s currency, the Ruble, has […]
Read More »
Moscow: The Russian Central Bank’s use of the digital Ruble is a priority plan. Elvira Nabiullina, Governor of the Russian Central Bank, indicated that preparations are being made to start using the following year in Russia. Nabiullina said that efforts are being made to increase the use of Mir Banking Cards and digital Ruble even […]
Read More »
