Business
First Russian transit cargo travels through Iran to Saudi Arabia
A Russian freight train has left the country for Saudi Arabia, passing through Iran for the first time
China issues trade war warning to US
China’s Commerce Ministry raised “serious concerns” over US tariffs targeting its semiconductor industry
Kiev and London mulling a free-trade deal, report claims
The UK and Ukraine have been discussing the prospect of a post-war free-trade agreement, British media reports, citing government sources
Australia demands China lift trade barriers
Australia has called on China to end trade curbs in order to normalize economic cooperation, according to CNBC
Google’s debts in Russia revealed
The Russian division of Google owes local vendors more than $200 million, according to minutes of the first meeting of creditors
Eurozone recession likely as business activity slows – S&P
The downturn in the euro area has deepened as business activity in key economic sectors tumbled in August, flash PMI data shows
China Evergrande shares plummet as trading resumes
China Evergrande Group lost nearly 90% of its market value within hours on its first trading day in 17 months, market data shows
EU country to burn more coal this winter – Bloomberg
France has extended permission for electricity producers to burn more coal as it fails to restart its nuclear reactors, Bloomberg says
Japanese clothing giant exits Russia – Vedomosti
Japanese casual wear brand Uniqlo has ceased operations in Russia amid Western sanctions pressure, Vedomosti reports
Russian billionaire asks EU to remove sanctions – FT
The co-founder of Russian tech giant Yandex is seeking EU sanctions relief, the Financial Times reports
Scholz laments state of Germany’s economy
Germany’s current economic growth is ‘unsatisfactory,’ Chancellor Olaf Scholz has said
Russian business activity soaring
Small- and medium-sized Russian businesses have continued to strengthen their economic activity, according to new research by PSB bank
EU imports from Russia drop at ‘unprecedented’ pace – Borrell
Top EU diplomat Josep Borrell claims that the drop in trade with Russia shows that Brussels’ restrictions are a success
Expanded BRICS will make up nearly 40% of global economy – data
The combined GDP of the BRICS group of countries will top $60 trillion after six new members officially join in January, calculations show
Top crypto exchange bans foreign currency transfers for Russians – media
Binance has banned Russia-based users from transactions in any currency other than the ruble, media reports claim
Rich Nordic nation’s economy stalls
Norway’s economy stagnated in the second quarter of this year due to a slowdown in private consumption, statistics reveal