Business
UK seeks alternative to Visa and Mastercard
The UK should develop a “digital alternative” to reduce the dominance of America’s payment systems, a government report says
ECB chief reveals family’s crypto losses
Christine Lagarde says her son lost nearly all of his investments in cryptocurrencies, despite her many warnings
Energy costs push Germany to ‘beg with hat in hand’ – Russian tycoon
Berlin’s fiscal policy decisions coupled with high energy costs are likely to destabilize the German economy, Oleg Deripaska warns
NATO state raises interest rates to 40%
Türkiye’s central bank has hiked its key interest rate to 40% in a bid to combat skyrocketing inflation and support the lira
Russia’s economy growing three times faster than Eurozone – Guardian
Western sanctions have so far failed to stall Russia’s economic growth, The Guardian reports, citing fund manager Amundi
Gold price forecast to hit record high
Gold prices could soar as investors rush into safe havens, an analyst believes
Russian property buyers flooding back to EU
Russian citizens view home buying in EU countries as a way to obtain a residence permit for free movement within the bloc, a report says
Eurozone economy ‘stuck in the mud’ – analyst
The euro area may plunge into a recession by year’s end, Bloomberg reports, citing analysts and economic indicators
Ukrainian business group warns of food shortage
Certain food stuffs may disappear from shelves in Ukraine due to Polish trucker protest, a business association has warned
Israel’s war debt forecast to balloon
The conflict with Hamas will lead to a larger-than-expected budget deficit in Israel and a big jump in debt issuance, Bloomberg reports
Ukraine counting losses from Polish border blockade
Kiev has lost more than $437 million in profits due to Polish trucker protests, Ukrainska Pravda reports
Crypto investors pull over $1 billion out of Binance
Outflows from Binance have exceeded $1 billion since its CEO stepped down and pleaded guilty in a deal with the US government
Israel’s largest banks block Russian assets – media
Three financial institutions in Israel have segregated accounts that belong to Russians, Forbes reports
Russia reveals lower-than-expected budget gap
Russia’s budget deficit will total 1% of GDP this year, much lower than earlier forecast, on the back of solid revenues, Anton Siluanov says
Western policies putting global economy under ‘colossal stress’ – Putin
The West’s ill-considered macroeconomic policies are causing economic turbulence, the Russian president says
Russian trade with ‘friendly’ states soaring – official
Moscow’s economic cooperation with ‘friendly’ countries is growing, the Russian Foreign Ministry says