International/Economy
2 min read

Russian ruble becomes world’s best performing currency, despite sanctions
Ruble firms 30% against dollar
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Zelensky calls for more Russia sanctions in Davos
Ukrainian president urged for complete withdrawal of foreign businesses from Russia
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McDonald's to exit Russia, sell business in country
'Business in Russia is no longer tenable, nor is it consistent with McDonald's values'
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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
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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'
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China’s Covid lockdowns bite local, international economies
'This has affected not only the supply chain within China, but… [also] around the world'
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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
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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
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IMF: Fragmentation poses 'serious risk' to global prosperity
Globalization 'lifted hundreds of millions out of poverty... fragmentation would undo many of these gains'
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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'
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World Bank plans $170b crisis fund, slashes global economy forecast
'I'm deeply concerned about developing countries. They're facing sudden price increases'
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IMF anticipates 'significant' climate, pandemics trust pledges
Beaumont says that 'it could be a quite significant start to the overall fundraising effort'
3 min read
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
3 min read
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'
2 min read
Elon Musk buys large stake in Twitter, sending stock soaring
Musk is a frequent Twitter user who often posts controversial messages
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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'
3 min read
Russia headed for recession despite ruble rebound, US says
'The economic consequences Russia is facing are severe: high inflation... and deep recession'
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BioNTech’s 2021 profits soar on global vaccine rollout
BioNTech projects vaccine revenues in 2022 to reach between $14 billion and $18 billion
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Swiss banks manage up to $213 billion for Russian clients
Meyer says Switzerland 'must do everything possible to turn off the money taps'
3 min read
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
3 min read
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
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Bank for International Settlements suspends Bank of Russia
'The BIS is following international sanctions against the central bank of Russia'
3 min read
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
3 min read
World Bank mobilizes over $700 million in Ukraine funding
'The World Bank Group is taking quick action to support Ukraine and its people'