Topic

Economics News

A collection of 554 issues

Prices in Russia rose in September for the first time after three months of decline

Inflation in September was 0.05% as compared with August, such data are reported by the Bank of Russia. The regulator notes that the softening of MP and increased producers' costs had the main influence on the CPI increase. The Central Bank believes that the rise in prices of

Business on pause. IKEA laid off 10,000 employees in Russia

The company remains in Russia, but stops all business and sells four factories. Because of this, staff layoffs have begun. About 8 thousand dismissed IKEA workers in Russia received monetary compensation and assistance in finding a job. It is also noted that 700 people in Russia remain in the company&

Rosstat measured income inequality in the country - RBC

At the end of the second quarter of 2022, the wealthiest 10% of Russians accounted for 30% of the population's monetary income. Only 2% of total income was in the hands of the poorest 10%. The average income of the richest Russians reached 132.92 thousand rubles. This

Biden administration considers ban on Russian aluminum, Bloomberg

Rusal shares fell 4.6 percent momentarily after the news. And the LME aluminum price reacted with a sharp 7.3 percent rise. In case of such a ban many producers will lose their Russian suppliers and will have to urgently look for their replacements.

Apple is set to unveil new products on Oct. 24, Bloomberg

A newspaper insider said that on that day, the company intends to present the iPad 10 tablet with a USB-C port and Apple 14 processor, as well as its senior iPad Pro model with an M2 chip. There will also be new Mac Mini and MacBook Pro with an updated

Strikes have reached Africa. Staff at key port demand wage increases

About 90% of employees at South Africa's largest iron ore port, which exports more than 57 million tons of ore, are refusing to work. They are demanding a pay increase from the operator Transnet SOC. At other ports around the country, the same company continues to cut staff

Nissan will lose $687 million on sale of Russian business

The company announced on Tuesday that it will transfer its Russian division to the state design institute FSUE NAMI. In this case, the amount of the deal is 1 euro. Nissan reserves the right to buy the business for 6 years.

Belarus Suspends Export of Meat and Dairy Products, - Kommersant

The Belarusian authorities, trying to keep domestic food prices, imposed restrictions on the export of products abroad for seven major producers of meat and dairy sector of the Republic. Belarus imports to Russia 120-140 thousand tons of poultry meat a year, but taking into account the ban on exports from

The EU wants to legalize the confiscation of sanctions assets frozen in Europe, Bloomberg

The current rules only provide for the blocking (or freezing) of assets, which makes their management costly and complicated. And the possibility of their confiscation would allow the use of these sanctioned assets for the subsequent reconstruction of Ukraine. European countries have blocked at least 85.7 billion euros worth

Tinkoff Investments launches OTC trading of blocked assets

Initially, 10 assets will be available for trades. Five ETFs and five stocks that have been blocked by Euroclear at NSD. The list will be expanded over time. Trading will take place on Oct. 7 between 4:30 p.m. and 7 p.m. Qualified clients of Tinkoff with Private