Business
Russian economy outperforming developed countries – prime minister
Russia’s GDP is expected to grow by 3.5-4.0% in 2023 despite pressure from Western sanctions, the prime minister has said
Euroclear discloses profits from frozen Russian assets
The Belgium-based clearing house revealed earning income totaling nearly $5 billion from Russia’s frozen assets in 2023
Turkish banks closing Russian accounts – Vedomosti
US threats of secondary sanctions have reportedly resulted in tighter policies for Russian clients at Turkish banks
Retail sales in Germany plunge – data
Price-adjusted sales in the German retail sector fell by 3.3% in 2023 due to persistently high inflation, statistics data shows
Moscow court reduces suspended sentence of convicted US investor
A Moscow appeals court has reduced the sentence of Baring Vostok founder Michael Calvey
Berlusconi’s villa put on sale for over $500 million – FT
The family of Italy’s late former prime minister is reportedly selling his Sardinian beach estate, Villa Certosa
Germany mulling stake sale in major gas importer – Bloomberg
The German government is reportedly considering selling part of its stake in major gas importer Uniper in a bid to plug a budget gap
Russia overtakes US as Brazil’s top diesel supplier – data
Brazil has become a major buyer of Russian diesel and gasoil, with Brazilian imports seeing a three-digit surge, data shows
Red Sea crisis exposing EU energy weakness – FT
Global diesel prices have hit a nearly three-month high adding pressure to a burgeoning cost-of-living crisis in the EU, the FT says
Judge cancels Elon Musk’s $56 billion pay package
Tesla’s shareholders overpaid Elon Musk because they were “beholden” to the billionaire, a Delaware judge has ruled
EU to extend tariff-free entry for Ukrainian grain – official
The European Commission is seeking to extend the suspension of customs duties for Ukrainian farm produce for another year
British investment minister urges caution on seizing Russian assets
The UK’s investment minister, Dominic Johnson, has called for the seizure of Russian frozen reserves to be done in a completely legal manner
Kremlin finds IMF’s change of tune on Russian economy ‘interesting’
The latest upgrade of Russia’s economic outlook is “very interesting,” according to Dmitry Peskov
IMF improves Russia’s 2024 GDP growth forecast
The IMF now sees the Russian economy expanding much more rapidly this year than previously expected
Germany sees sharp rise in fake euros
Germany saw a surge in counterfeit euros in circulation last year, according to the Bundesbank
IMF slashes Argentina’s growth forecast over Milei’s ‘shock therapy’
The economy in Argentina, Latin America’s third-biggest, is now expected to contract for a second year in a row, latest IMF update says