Russia rises gold purchases by 601% to evade sanctions
Moscow/IBNS: As Western sanctions continue to tighten around Russia, Moscow on Friday (Sept 6) announced that the country will increase its daily gold purchases to 8.2 billion rubles, which represents a 601 percent rise from previous occasions, to bypass financial restrictions and maintain trade with its partners.
As Russia's invasion of Ukraine enters the 14th day, three more companies - McDonald's, Coca-Cola and Starbucks - have announced closure of business in Russia, joining the growing list of international businesses leaving the country, media reports said.
Hikes in petrol, diesel prices likely to start from next week: Report
New Delhi/IBNS: Petrol and diesel prices are likely to increase after assembly elections in five states get over next week to cover the Rs 9 a litre gap caused by international oil prices that zoomed past $100 a barrel.
The initial public offering of state-run insurance behemoth Life Insurance Corporation of India (LIC) can be pushed to the next financial year, media reports said, noting that the government is likely to hold a meeting to reassess the IPO timing amid the Russia-Ukraine war.
New Delhi: State-run Indian refiner Bharat Petroleum is seeking to import crude oil from the Middle Eastern producers to meet the requirements for April, fearing that the Western sanctions on Russia can disrupt the deliveries of Urals crude, Reuters reported citing sources.
Russia-Ukraine War: SBI halts trade with sanctioned Russian entities
State-run lender State Bank of India has said it has suspended transactions involving Russian entities in the wake of international sanctions, media reports said.
BP exits its 20 pc stake in Russian oil giant Roseneft in wake of Ukraine invasion
British energy giant BP said Sunday it plans to offload a 19.5 percent stake in oil Russian company Rosneft (ROSN.MM) in the wake of Russia's invasion of Ukraine, media reports said.
Russia's Ukraine blitz sends oil prices soaring, dampening hopes of post-Covid economic recovery
Crude oil prices crossed the $100 per barrel mark after Russia launched a military attack on Ukraine on Thursday, media reports said.
Indian pharma companies worried over impact of Russia-Ukraine crisis
The Indian pharma sector may take a hit because of Russia-Ukraine crisis and and sanctions against Russia by many western countries including the US, media report said.
Ukraine-Russia situation can hit oil & gas, essential commodities: Ex-RBI governor Raghuram Rajan
Former RBI governor Raghuram Rajan in an exclusive interview to CNBC-TV18 said Russia's invasion of Ukraine can create difficulties for countries dependent on supply of gas and commodities from the region.