SAO PAULO, Feb 28 (Reuters) – Western powers butted heads over how to handle frozen Russian assets on Wednesday as G20 finance ministers kicked off a discussion of challenges for the global economy, trying to set aside deep geopolitical divisions. Brazilian officials hosting the two-day meeting in Sao Paulo sought to focus talks on economic […]
LONDON, Feb 29 (Reuters) – The pound was set for a small monthly decline against both the dollar and the euro on Thursday, on a busy day for inflation data elsewhere in the world, while investors in Britain’s focus began turning to next week’s budget. Sterling was last down 0.06% against the dollar at $1.2654 […]
An appeals court judge on Wednesday denied a request by former President Donald Trump to pause enforcement of the $454 million judgment he was ordered to pay in his New York civil fraud case. But Judge Anil Singh’s ruling in Manhattan Supreme Court allows Trump and his two adult sons to stay in control of their companies while the […]
MOSCOW, Feb 28 (Reuters) – Russia’s largest lender Sberbank (SBER.MM), opens new tab reported a record annual profit of 1.5 trillion roubles ($16.3 billion) for 2023, a more than five-fold increase on the previous year as Russia’s banking sector recovered from the impact of financial sanctions. Last year, Russian banks collectively made record profits of 3.3 trillion […]
The expansion of the Trans Mountain oil pipeline will cost about $3.1 billion more than the Canadian government-owned company running the project projected in May, another financial setback for a project beset by spiralling expenses and years of delays.Costs for the expansion — which involves twinning a pipeline stretching from Edmonton to Vancouver — will be […]
Feb 27 (Reuters) – Two of Sweden’s largest property companies on Tuesday announced multibillion-crown writedowns in their 2023 results, as they grappled with a European property rout that both voiced hope could soon be over. For years, property in Europe and particularly Germany and Sweden boomed as interest rates fell, turbocharging demand. A sharp rise […]
Barcelona-based Nebius, a company empowering digital nomads and marketplaces with payments, crypto and card solutions, has secured €250M in institutional funding for its crypto-backed lending program. Nebius offers a secure service with a low interest rate structure to corporate and consumer clients. The initiative allows individuals and businesses to leverage crypto assets for real-world financial […]
The purchasing power of Kenyans has seen a significant decline owing to some economic challenges. In the past year, citizens of the East African country have been faced with rising commodity prices, while their incomes stagnated. As a result, Kenyans could scarcely purchase goods the same way they may have been accustomed to. A report […]
Egypt is seeking to raise the private sector’s contribution to the state’s total investments to 65%, Prime Minister Mostafa Madbouly stated. Madbouly noted that the country is keen on encouraging the private sector to promote its participation in different development and services projects. This came during a meeting held by the prime minister to follow […]
Gold prices opened lower on Tuesday morning after rising sharply on Monday. The Dubai Jewellery Group data showed 24K trading at Dh246.0 per gram at the opening of the markets on Tuesday as compared to last night’s close of Dh246.75 per gram. Among the other variants of the yellow metal, 22K was selling at Dh227.75 […]