International/Economy

Russian ruble becomes world’s best performing currency, despite sanctions

Ruble firms 30% against dollar

Zelensky calls for more Russia sanctions in Davos

Ukrainian president urged for complete withdrawal of foreign businesses from Russia

McDonald's to exit Russia, sell business in country

'Business in Russia is no longer tenable, nor is it consistent with McDonald's values'

Morgan Stanley warns 2022 global economic growth to take major blow

The brokerage forecasts 2022 global growth to be at 2.9 percent, compared to 6.2 percent the year prior

Airlines expect travel will rebound to pre-Covid levels in 2023

'We are seeing a strong recovery, and I think that recovery will gather momentum'

China’s Covid lockdowns bite local, international economies

'This has affected not only the supply chain within China, but… [also] around the world'

IMF: Ukraine war to hit MENA's poor nations, boost oil-producers

Low-income countries face increased pressure due to lower levels of food security

UK, India seal defense and economic pact

'We're telling our negotiators to get it done by Diwali in October. This could double our trade' by 2023

IMF: Fragmentation poses 'serious risk' to global prosperity

Globalization 'lifted hundreds of millions out of poverty... fragmentation would undo many of these gains'

Economists urge G20 set up register to track oligarchs

'We now have a unique opportunity to make progress on the implementation of a global asset registry'

World Bank plans $170b crisis fund, slashes global economy forecast

'I'm deeply concerned about developing countries. They're facing sudden price increases'

IMF anticipates 'significant' climate, pandemics trust pledges

Beaumont says that 'it could be a quite significant start to the overall fundraising effort'

WTO: War in Ukraine could halve 2022 global trade growth

Russia's invasion created a crisis of 'immense proportions' and a 'severe blow' to the global economy

World food prices hit record high over Ukraine war

The FAO's food price index made 'a giant leap to a new highest level since its inception in 1990'

Elon Musk buys large stake in Twitter, sending stock soaring

Musk is a frequent Twitter user who often posts controversial messages

Lithuanian minister speaks on financial impact of Ukraine war

'We don’t see [that] people won’t have enough finances for their vacation or tourism in general'

Russia headed for recession despite ruble rebound, US says

'The economic consequences Russia is facing are severe: high inflation... and deep recession'

BioNTech’s 2021 profits soar on global vaccine rollout

BioNTech projects vaccine revenues in 2022 to reach between $14 billion and $18 billion

Swiss banks manage up to $213 billion for Russian clients

Meyer says Switzerland 'must do everything possible to turn off the money taps'

Russia looks to China for military, economic support

Sanctions froze $300 billion out of the $640 billion that Russia has in gold and forex reserves

Russia sanctions may cause IMF to cut global growth forecast

Georgieva says sanctions on Moscow will lead to a 'sharp contraction' of the Russian economy

Bank for International Settlements suspends Bank of Russia

'The BIS is following international sanctions against the central bank of Russia'

US ban on Russian oil: Likely global consequences

Russia is the world's top exporter of crude and oil - a Western ban would have costly consequences

World Bank mobilizes over $700 million in Ukraine funding

'The World Bank Group is taking quick action to support Ukraine and its people'