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.
India in better position than most other countries: Sanjiv Goenka on economic situation
Kolkata/IBNS: Founder and Chairperson of RPSG Group Sanjiv Goenka said India is in a better place than most nations during the current conflict between Russia and Ukraine.
UK PM hopes for progress on Ukrainian grain export issue
London/UNI/Sputnik: UK Prime Minister Boris Johnson, during a phone call with Ukrainian President Volodymyr Zelenskyy, expressed hope for progress on the issue of Ukrainian grain exports, the Prime Minister's office said in a statement.
US blocks Russia's access to dollars, increasing risk of default: Report
The United States has started blocking Russia from making debt payments using dollars held in U.S. banks, media reports said.
Russia insists on getting paid in roubles
Moscow/UNI: Russia has warned European countries that they need to pay for gas in roubles or the supplies would be cut off.
New Delhi: The US and Australia have called out India for considering Moscow's proposal for rupee-ruble-denominated payments using its own mechanism that would sidestep sanctions, including Russia's exclusion from global money transfer network SWIFT, imposed by America and its allies.
India becomes the fifth most valued stock market
Mumbai: India is now the fifth most valued stock market ahead of the United Kingdom, Canada and Saudi Arabia.
Russia retaliates against Western sanctions with export bans: Report
Russia has retalited to the western sanctions to isolate it for invading Ukraine by imposing export bans on a host of products until the end of 2022, BBC reported.
Ukraine War: Mukesh Ambani's RIL supplying diesel to Europe from Jamnagar refinery
Mukesh Ambani-led Reliance Industries is sending shipments of diesel to Europe amid a global energy crunch spurred by Russia’s invasion of Ukraine, media reports said.
Ukraine War: Economy in 'shock' from unprecedented economic war, admits Russia
Moscow: Russia has admitted that the country's economy is in a shock and it is taking measures to resist the impact of what it described as an "absolutely unprecedented" economic war waged against Moscow, media reports said.
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.
Skyrocketing cooking oil prices to worsen food inflation situation
Amid Russia’s invasion of Ukraine coupled with U.S. and European sanctions that ensued and consequent disruption in the supplies of key commodities like grains and edible oils, shoppers need to prepare to dish out more money on groceries.
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.