Business
Russians buying less Dubai property – Bloomberg
Purchases of Dubai real estate by Russian investors have started to slow, Bloomberg reports, citing top brokers
Eurozone risks recession – S&P Global data
The worsening economic activity across the euro area has reignited fears of a downturn, according to latest report
Russia accounts for one-third of world diamond output – data
Russia accounted for over 35% of global rough diamond production for the first time in 2022, Kimberley Process data shows
No more dirty money for Swiss banks. Who’s to blame? And is it a good thing?
Swiss banking faces existential crisis as global pressures erode secrecy and trust, with UBS-Credit Suisse merger adding to turmoil
US dependent on Russian nuclear fuel – official
A reliance on Russian nuclear fuel poses a “critical” threat to US security, a senior White House official has told the FT
Over 100 British firms admit violating Russia sanctions – FT
UK companies have admitted breaching sanctions on Russia in a bid to mitigate government penalties, the FT has reported
UK probably in recession – Bloomberg
The British economy is likely already in a mild recession amid soaring interest rates and rising unemployment, according to analysts
Central banks on record gold-buying binge – industry group
Levels of bullion purchases by central banks were the highest on record in January-September 2023, the World Gold Council has said
Russia plans hydrogen exports to Asia – Rosatom
Supplies of Russian hydrogen energy to the global market may be launched by 2030, Rosatom says
Germany may tax super-rich to battle crisis – media
Chancellor Olaf Scholz’s Social Democratic Party has drafted a proposal aimed at restructuring the German economy, local media reports
Economic decline behind West’s weaponization of currencies – Moscow
Western states use economic sanctions to stay in power and halt the development of rivals, Russian Finance Minister Anton Siluanov claims
Russian oil price cap not working – WSJ
Russia has become increasingly adept at sidestepping the G7 and EU price cap on its oil exports, a Wall Street Journal report says
China and Russia step up work on new gas route – CNPC
Moscow and Beijing have been working on a new route to boost gas supplies from Russia’s Far East
Russian consumer demand growing – report
Russian consumer demand has been on the rise, facilitated by growth in real wages, according to data from Rosstat
Canada headed for recession – official data
Canada is showing clear signs of an economic slowdown in the wake of higher interest rates and soaring inflation, statistics show
Sanctions failed to ‘bring Russia to its knees’ – industry group
The EU has been hit harder by the restrictions on Russia than Russia itself, the head of an Italian business group told RT