Business
Saudi Arabia’s forex reserves plunge
Saudi Arabia’s foreign currency reserves plunged by over $16 billion in July as the country slashed its oil production, data shows
Brazil ramps up purchases of critical metal from Russia
Russian nickel exports to Brazil have surged to an 18-year high, data has shown
US dollar a ‘very problematic’ currency – Moscow
Washington uses the dollar as a tool of ‘‘hegemony and colonialism,’’ Maria Zakharova says
Musk secretly funded Bitcoin rival – WSJ
Elon Musk has been quietly financing Dogecoin developers, the Wall Street Journal reports, citing a new biography of the billionaire
Hollywood strikes cost California economy billions – FT
The ongoing writer and actor strike action in Hollywood has cost California economy some $5 billion, Financial Times reports citing a study
West looking for ways to ban Russian diamonds – NYT
The EU and G7 have been working to restrict trade in Russian diamonds as part of sanctions against Moscow
Eurozone slowdown faster than expected – ECB
The euro area needs its economic growth to slow faster to help bring down inflation in the region, ECB policymaker Boris Vujcic says
Sales of Russian ice cream booming in Israel
Russian ice cream is in high demand in Israel, according to Rosselkhoznadzor
Brazil posts record oil and gas production
Brazil extracted record volumes of oil and gas in July and is set to boost its energy output by 75% in 2030, data has shown
UK home sales set to hit 12-year low
The number of homes sold in Britain this year is set to reach the lowest annual figure since 2012 due to rising mortgage costs, data shows
Grain deal hinges on SWIFT action – Turkish media
The UN’s new proposal for the revival of the Black Sea initiative reportedly includes a Russian bank's return to SWIFT
Sanctions against Russia turning Germany into ‘kamikaze’ – MP
Western sanctions have failed to destabilize Russia and are instead rapidly weakening Germany’s economy, lawmaker Sevim Dagdelen says
EU’s largest economy stocks up on Russian fertilizers
German imports of Russian fertilizers surged by more than 300% over the past year, official data shows
Italian factories slashing workforce – Bloomberg
Italy’s GDP shrank more than expected in the second quarter as a manufacturing downturn is weighing on the economy, data shows
Luxury giant loses crown as EU’s most valuable firm
Novo Nordisk has overtaken LVMH to become the EU’s largest firm by market capitalization, trading data shows
UK house price slide accelerates – data
Real estate prices in the UK fell 5.3% year-on-year this month in the biggest annual decline since the global financial crisis, data shows