Business
Ex-Soviet state to nationalize branch of world’s second-largest steelmaker
Astana is finalizing the acquisition of ArcelorMittal’s local business, the government announced after an incident that killed 36 miners
Russian forex reserves growing
Moscow has continued adding to foreign exchange reserves in light of Western economic pressure
No point in further sanctions against Russia – Hungary
Budapest will not support the EU’s next round of sanctions on Russia if it targets the energy sector, Foreign Minister Peter Szijjarto says
Russia wants to replace Japanese seafood in China
Russia wants to supply seafood to China after Beijing banned Japanese marine products over Tokyo’s release of Fukushima wastewater
Tough times ahead for US consumers – strategist
The US economy will face difficulties due to a substantial labor market downturn, CNBC reports
Western arms makers see revenues booming on Ukraine conflict
Several key defense contractors reported stellar third-quarter earnings on Ukraine orders and expect Gaza tensions to push profits higher
Young Russians favor jobs in fintech over energy sector – survey
A poll shows that employment in the fintech sector is now the most popular among Russia's young people
Oil, precious metals prices spike amid Israel incursion
Crude benchmarks rallied alongside gold and silver on Friday after Israel announced an expansion of ground operations in Gaza
Gold outperforming stocks – MarketWatch
Investors seeking shelter in gold have pushed prices higher to outgain the S&P 500 stock index
Mexico grants historic tequila license in Russia
Russian distillery Crystal is the first in the country to be granted an official license to bottle tequila, its owner has revealed
Bluechip banks to lose billions on Musk-linked debts – WSJ
Major Wall Street banks have been struggling to unload the debt on financing acquisition of Twitter by Elon Musk
Germany warns EU about overspending – Bloomberg
German Chancellor Olaf Scholz has reportedly called on EU members to get serious about curbing expenditures
Largest UK energy producer warns of 70% price rise
The UK’s biggest power provider has said London should hike the price offered to wind farm operators to encourage expansion
French diesel demand collapsing
The decline in demand for diesel in France suggests the EU’s second-biggest economy is slowing
Central Bank of Russia hikes key interest rate
The Russian central bank has once again raised its benchmark rate, citing inflationary pressure
Russian alternative overtakes historic Coca-Cola sales
US soft-drink giant Coca-Cola has been successfully replaced by a local brand on the Russian market, according to a new study