Business
Russia planning two new railroads to China
Russia is planning to build two railroads to China as the countries ramp up economic cooperation
More than a million children in UK living in poverty – study
A UK charity says almost four million people experienced destitution in 2022 due to the raging cost-of-living crisis
German military giant raises price of ammo for Ukraine by 50%
Artillery shell prices made by Germany’s Rheinmetall for Ukraine have reportedly risen in price to €3,600, compared to €2,000 in early 2022
US went ‘overboard’ in weaponizing dollar – Musk
Elon Musk says the US has forced countries to move away from the dollar by sanctioning Russia
Russian foreign debt to GDP hits record low
Russia's foreign debt-to-GDP ratio dropped to the lowest in history, reaching $318 billion at the end of June 2023, data shows
‘Golden age’ of gas ending – IEA
The IEA expects natural gas consumption to decrease after reaching its peak at the end of the decade
EU proposes ‘global billionaire tax’
The EU Tax Observatory has proposed a global minimum 2% annual tax to be levied on the wealth of the world’s richest
Black swan event: Will Israel-Hamas conflict drive oil prices to $150 per barrel?
Escalating regional tensions may lead to global implications
Russian oil industry resists crushing taxes – Kommersant
Major Russian oil producers and refiners have raised concerns over financial losses in domestic gasoline and diesel sales
Israel counts cost of war as growth forecast slashed
The Bank of Israel has downgraded its economic growth forecast for 2023 and 2024 amid the escalation of the Gaza conflict
Russia’s economically strongest regions revealed
Moscow and resource-rich regions in the Urals have topped the rankings of the fastest economic development
Russian region asks businesses not to celebrate Halloween
Authorities in Russia’s Krasnodar Region are urging people not celebrate Halloween, Kommersant reports
Ruble surges as comeback against dollar continues
The Russian currency has strengthened to a six-week high to the US dollar and euro
Russia’s Gazprom ‘confident’ despite sanctions – CEO
Gazprom head Aleksey Miller says the company is economically strong despite Western restrictions that forced it to reorient gas flows
Germany maintaining LNG trade with Russia – Bloomberg
Germany continues to deliver Russian LNG to avoid breaching a long-term deal that could cost taxpayers over $10 billion, Bloomberg says
Global industry needs $7 trillion to avoid gas shortages – report
The world will need major investment to secure sufficient gas supply and avoid crises through 2050, a report has found