Payments for India’s urea deal with Iran — its first long-term Iranian import contract for the fertilizer since 2019 — will likely be made in rupees, Reuters reported Thursday (Feb. 24). The move by India to seal a deal with Iran is in anticipation of...
Russian lender VTB said Western sanctions on its operations would limit the use of its cards outside Russia, and warned customers in other nations to withdraw money or pay through different banks. According to a Thursday (Feb. 24) report by Reuters, VTB said all cards,...
The booming outsource tech sector from the Ukraine is at risk following the Russian invasion Thursday (Feb. 24), The Wall Street Journal reported. As troops invaded the Eastern European country, internet outrages were widespread, according to the Georgia Institute of Technology, which monitors internet access....
The EU and the U.S. are formally signing off on sanctions against Russia in response to President Vladimir Putin’s decision to invade Ukraine, but the penalties stop short of booting Russia from the global SWIFT payments network. Virtual meetings were held yesterday among G7 leaders...
Homebound consumers worldwide tapped virtual channels to conduct their grocery and retail shopping or to stream movies, TV and music throughout the pandemic, leading to a boom in virtual streaming and subscription figures. Latin America has seen especially strong growth within this space, with the...
In today’s top Europe, Middle East, and Africa news, the Russian invasion into Ukraine triggered more than $242 million in liquidations in the crypto market, while Allegro, one of the largest eCommerce websites in Europe, reported its revenue was up nearly 34% last year compared...
U.S. President Joe Biden and the leaders of the United Kingdom, dozens of European countries, Oceania and Japan announced sweeping sanctions on Thursday (Feb. 24) aimed at punishing Russia financially in response it its full-scale invasion of Ukraine. The measures, disclosed in coordinated announcements Thursday,...
U.K. Prime Minister Boris Johnson on Thursday (Feb. 24) pushed “very hard” to remove Russia from the Society for Worldwide Interbank Financial Telecommunications (SWIFT) international payments system, which would severely limit the ability of Russia to trade outside the nation, the Financial Times reported. While...
The International Monetary Fund (IMF) has warned the United Kingdom that deregulation of the country’s financial system presents issues over the role of the Bank of England (BoE) in competitiveness. Last month, Prime Minister Boris Johnson announced the U.K.’s Brexit Freedoms’ legislation will be coming...
