By Catherine Belton, Paritosh Bansal and Megan Davies LONDON/NEW YORK (Reuters) – A decision by Western allies on Saturday to block “selected” Russian banks from the SWIFT payments system will inflict a crippling economic blow, but also cause much pain to their own companies and banks. And the allies still have room to do more. …
Analysis-SWIFT block deals crippling blow to Russia; leaves room to tighten Read More »
By Steve Holland, John Chalmers and Daphne Psaledakis BRUSSELS/WASHINGTON (Reuters) – The United States and its allies on Saturday moved to block certain Russian banks’ access to the SWIFT international payment system in further punishment of Moscow as it continues its military assault against Ukraine. The measures, which will include restrictions on the Russian central …
U.S., allies target ‘fortress Russia’ with new sanctions, including SWIFT ban Read More »
MELBOURNE (Reuters) – Australian iron ore magnate Andrew Forrest, who’s been betting big on a global green revolution, said on Sunday he was investing A$3 billion ($2.2 billion) in renewable energy in central Queensland. Forrest, Australia’s richest man, said his company Squadron Energy has acquired the two-stage Clarke Creek project – a wind, solar and …
Australian mining billionaire to invest $2.2 billion in renewable energy project Read More »
WASHINGTON (Reuters) – The SWIFT international payments system said on Saturday it was preparing to implement Western nations’ new measures targeting certain Russian banks in coming days. “We are engaging with European authorities to understand the details of the entities that will be subject to the new measures and we are preparing to comply upon …
SWIFT says it preparing to comply with curbs on Russian banks Read More »
By David Lawder WASHINGTON (Reuters) – China so far does not appear to be helping Russia evade Western financial sanctions on Moscow over its invasion of Ukraine, but doing so would “do profound damage” to China’s reputation, a senior Biden Administration official said on Saturday. “The latest signs suggest that China’s not coming to the …
China so far not helping Russia evade Western sanctions – U.S. official Read More »
NEW DELHI (Reuters) -India is prepared to release additional crude from its national stocks in support of efforts by other major oil importers to mitigate surging global prices, the government said on Saturday. India is the world’s third biggest oil importer and consumer, shipping in 85% of its oil needs. The country has already released …
India ready to tap national oil stocks further to tackle soaring prices Read More »
LONDON (Reuters) – Russia launched a full-scale invasion of Ukraine this week, sparking a slew of sanctions and turmoil in global financial markets. Below are six charts showing the week’s dramatic moves in financial markets: ENERGY SURGE Fears of a potential supply disruption on oil markets from the war in Ukraine saw crude prices surge …
Europe at war: Six charts to know in financial markets Read More »
NEW DELHI (Reuters) -India’s cabinet approved on Saturday a policy amendment allowing foreign direct investment of up to 20% in Life Insurance Corp of India (LIC), a government source said, a change aimed at easing the listing of the state-run insurer. India’s biggest insurance company plans to float a stake of 5% to raise about …
India’s cabinet approves up to 20% FDI in behemoth insurer LIC -source Read More »
BEIJING (Reuters) – Chinese ride-hailing giant Didi Global said on Saturday that it would continue to operate in Russia, reversing a decision announced on Monday that it was leaving that country as well as Kazakhstan. No explanation was given. Didi did not immediately respond to a request for further comment. On Monday, Didi said it …
China’s Didi reverses course, will remain in Russia Read More »
TAIPEI (Reuters) -Taiwan expects little impact from the war in Ukraine on the supply of key raw materials for semiconductors, the government said on Saturday. Taiwan is a major chip manufacturer, home to the world’s largest contract chip maker and Asia’s most valuable listed company, TSMC, and key to alleviating a global shortage of semiconductors …
Taiwan sees limited impact from Ukraine war on chip supply chain Read More »
