Business
Russian oil major ditching dollar in trade
Russian crude producer Gazprom Neft has switched to yuan and ruble in export payments, its CEO says
Brussels should buy Ukrainian grain for Africa – Lavrov
Russia’s foreign minister Sergey Lavrov suggests Brussels buy the Ukrainian grain that the EU doesn’t want and give it to African nations
Eurozone facing contraction – S&P
Germany and France have led the euro area’s downturn with no indication of returning to growth, S&P Global says
Russia-China trade on track for record in 2023
Moscow and Beijing have continued to ramp up economic cooperation in the face of Western pressure
Fake euros accepted as payment in Kosovo
Cafes and shops in Kosovo have stopped checking euro coins for authenticity as the breakaway province has been inundated with fake money
Russian LNG shipments to China surge
Russia has become China’s third largest LNG supplier after Qatar and Australia, customs data shows
Coffee prices in Russia more than double in seven years – study
A cup of coffee in Russia now costs roughly twice as much as it did in 2016, according to the financial data firm OFD Platform
Ukrainian economy grows nearly 20% – government
Ukraine’s economy saw year-on-year growth of 19.5% in the second quarter of this year, the State Statistics Service reports
EU trade chief rules out China decoupling
European Commission trade chief Valdis Dombrovskis has said the EU does not intend to cut commercial ties with China
Russia’s trade with EU state hits eight-year low – media
Russia’s trade with the Netherlands dropped 200% in July compared to the same period last year, hitting its lowest since 2015
US corporate failures set to register 13-year high – report
Corporate bankruptcy filings in the US have been on the rise in the light of sharp rate hikes by the Federal Reserve
Poland sharply increases imports of Russian fertilizers – media
Poland more than tripled purchases of Russian potash in July in annual terms, RIA Novosti reports
Statistics reveal German house prices collapse
German property values slid nearly 10% in the second quarter, marking the sharpest drop since 2000, official data shows
US buying record amount of Russian fertilizers – official figures
Purchases of Russian fertilizers by the US jumped to a record $944 million in the January-to-July period, official data shows
‘Exceptional’ Russian harvest lowers global wheat prices – FT
Wheat prices have slipped to a three-year low due to abundant Russian supplies that help to offset falling Ukrainian exports, the FT reports
Russia reaping benefits of storing gold – media
Russia has ramped up its gold reserves to record highs to counter Western sanctions
