Business
IMF warns of sharp increase in grain prices
Global grain prices could jump by up to 15% after Russia quit the Black Sea grain deal, Bloomberg reported, citing the IMF chief economist
Japan tightens anti-Russian trade sanctions
The Japanese government is set to expand its ban on Russian imports, citing the ongoing conflict in Ukraine
ECB hikes interest rates to multi-year highs
The European Central Bank has continued raising interest rates despite concerns of a recession in the Eurozone
Putin suggests alternative route to deliver goods to Africa
The International North-South Transport Corridor could provide Russian goods with a shorter route to Africa, Vladimir Putin says
Putin urges launch of Russian industrial zone near Suez Canal
A Russian industrial zone near Egypt’s Suez Canal should be operational in the near future, President Putin has pledged
Africa capitalizing on Western exit from Russia – official
Africa’s share in Russia’s foreign trade rose to 3.7% in the first half of 2023, up from 2.3% last year, the Federal Customs Service reports
African country seeks Russian grain
Zimbabwe’s interested in agriculture imports from Russia and wants Moscow to help modernize its economy, President Mnangagwa says
Putin backs G20 membership for African Union
Russia will support the bid by 55-state African Union to join the G20 as a permanent member at a meeting in September, Putin says
EU state on takeover spree of Russian assets
Poland has appointed temporary governance for two firms with Russian connections, TVP has reported
Spaniards losing spending power – data
Spain is facing a slump in purchasing power as it reels from one of the sharpest drops in real income in the EU, a report has found