The Russian stock market started today’s trading with a steady growth on the back of improving external stock market conditions and relative calm in the Western rhetoric regarding sanctions against the Russian Federation in connection with the special operation in Ukraine. The MosBirch index rose by 1.15% to 2452.25 points during one minute of trading. […]

South Korean electronics maker Samsung Electronics Co.’s net profit rose 59% to 11.32 trillion South Korean won ($8.9 billion) in the first quarter from 7.14 trillion won in the same period a year earlier. The company said its revenue in January-March rose 19% year-on-year to 77.8 trillion won. The figure was a record high for […]

U.S. stock indexes climbed out of a deep hole on Wednesday thanks to strong earnings reports from Microsoft Corp and Visa Inc Class A, which helped overcome weak results from other companies. Another stream of earnings reports from technology companies is expected on Thursday with results from Apple, Amazon and Twitter Inc, as well as […]

US GDP growth is expected to show a sharp slowdown in the first quarter due to COVID-19. Reporting season is feverishly underway, and yesterday’s update from Facebook owner Meta Platforms* will provide a positive start to the day. Economic leader Caterpillar also reported strong results, but the main event comes a little later: it’s reports […]

British bank Barclays said Thursday it has postponed its share buyback program indefinitely and set aside a 540 million pound provision following it reported a first-quarter profit that exceeded expectations as strong investment banking performance boosted its earnings, CNBC reported. The bank reported first-quarter net income of 1.4 billion pounds ($1.76 billion), above analysts’ expectations […]

April 22, Russia’s international reserves amounted to $607.1 billion, reported the Bank of Russia. As of April 15, international reserves amounted to $611.1 billion. Thus, during the week they decreased by $4 billion, or 0.7%. The reserves decreased mainly as a result of negative revaluation, notes the Central Bank. In the previous week, the international […]

Some of Europe’s largest energy companies are preparing to use a new system of paying for Russian gas in rubles, which critics believe will undermine EU sanctions, the Financial Times reports. Among the companies planning to use ruble accounts for gas payments are Germany’s Uniper and Austria’s OMV, while Italy’s Eni is weighing all possible […]

In Q1, Latvia’s gross domestic product (GDP) increased by 5.9% compared to the same period last year, the Central Statistical Office (CSO) reports with reference to preliminary data. The GDP dynamics was mainly influenced by a 6.3% growth in the service sector and a 0.2% decrease in the manufacturing industry. According to seasonally and calendar-adjusted […]

VTB CEO Andrei Kostin has approached Prime Minister Mikhail Mishustin with a proposal to merge two more banks into a common group with the bank – Crimea’s RNKB, controlled by the Federal Property Management Agency, and the Central Bank’s subsidiary Otkritie, Kommersant reported, citing its sources. All three banks are under US, UK and EU […]

In today’s trading, the U.S. dollar is getting cheaper against the Japanese yen and the euro amid data on the contraction of the U.S. economy in Q1. The dollar-euro exchange rate stood at $1.0543 as of 9:17 Moscow time, compared to $1.0499 at market close on Thursday. The Japanese yen rose at the same time […]

Wall Street posted gains on Thursday; with technology stocks leading the way as investors ignored concerns over unfavorable economic growth numbers. Meta Platforms Inc* led the sector, helping push the NASDAQ Composite index up 3%. Shares of the social media company surged 18% after it had more users than expected last quarter and beat low […]

Western Union’s expenses in connection with the suspension of work in Russia and Belarus amounted to $11 million, the company said in its statements for the first quarter of 2022. Western Union announced the suspension of operations in Russia and Belarus on March 10 due to the situation in Ukraine. The company had been operating […]

US billionaire Elon Musk has sold 4.4 million shares of the company he founded, Tesla Inc, according to regulatory filings with the US Securities and Exchange Commission (SEC). Musk made the trades on the stock exchange on Tuesday and Thursday – that is, two days after the Twitter Inc. deal. The price of sold shares […]

Consumer prices in the euro area in March 2022 increased by 7.5% in annualized terms, according to preliminary data from the Statistical Office of the European Union (Eurostat). This is the maximum figure in the history of the introduction of calculations. In March, annual inflation in the eurozone was 7.4%. Analysts surveyed by Trading Economics, […]

The Bank of Russia has decided to lower the key rate by 3 points to 14% per annum, the regulator said. The decision to lower the rate was expected. However, most analysts surveyed by Bloomberg (18 out of 21) predicted a reduction to 15%. Also, the Central Bank forecasts that annual inflation in Russia in […]

China’s top leadership gave no indication this Friday of any imminent relaxation of its zero-tolerance policy for the spread of the omicron strain COVID-19, CNBC writes. Against this backdrop, some businesses have resumed production in Shanghai and northern China. But the country’s capital, Beijing temporarily closed a major luxury shopping mall and minor businesses in […]

Germany is ready to stop buying oil from Russia, according to the US newspaper The Wall Street Journal. According to the newspaper, representatives of Germany in the EU have withdrawn the country’s objection to a full embargo on Russian oil, provided that Germany is given enough time to find sources of alternative supplies. German Economy […]

Members of the U.S. Senate Committee on Legal Affairs are likely to vote next week to approve a bill opening the door for Washington to sue oil-exporting countries, U.S. media reported. According to them, both Democrats and Republicans will vote in favor of the document at the vote, which is scheduled for next week. The […]