Currencies

Russian factory activity contracts for third month running in August, PMI shows

Activity across Russia's manufacturing sector declined for the third month running in August, a business survey showed on Monday, driven by falls in output and new orders for both domestic and export...

Russia's Gazprom first-half net profit down 6% to $12 billion

MOSCOW -Gazprom's net income dropped almost 6% year-on-year in the first half of 2025 to 983.1 billion roubles , the state-owned Russian company said on Friday, due to a stronger rouble and weaker...

Russia's Transneft reports 3.6% fall in second-quarter profit

MOSCOW -Second-quarter net profit of Russia's oil pipeline monopoly Transneft fell by 3.6% to 73.1 billion roubles , the company said on Friday. Revenue edged up by 2.8% to 357.9...

Sterling on course for monthly rise against dollar but fiscal risks linger

Sterling slipped against the dollar and euro on Friday amid concerns over Britain's fiscal position, but remained on track for a monthly gain against the U.S. currency. The pound...

Russia's Aeroflot H1 profit jumps 76%

MOSCOW -Russian flag carrier Aeroflot on Friday reported a 76% year-on-year increase in net profit for the first half of 2025, sayig it had made 74.3 billion roubles . Revenue rose 10%...

North Korea posts fastest growth in 8 years in 2024, driven by Russia ties, Seoul says

SEOUL -North Korea's economy grew 3.7% in 2024, the fastest annual pace of growth in eight years, backed by expanded economic ties with Russia, according to estimates by South Korea's central bank...

Dollar trades lower with Fed cut in view, on course for monthly drop

NEW YORK -The dollar weakened against the euro and Swiss franc on Friday, on course for a 2% decline in August against a basket of currencies, as traders prepared for a U.S. interest rate cut by the...

Exclusive-Russia's Ust-Luga port to operate at half capacity in September after pipeline damage, sources say

MOSCOW -Russia's Ust-Luga oil export terminal will operate at around 350,000 barrels per day in September, or about half its usual capacity, following damage to pipeline infrastructure from Ukrainian...

Russia slashes 2025 economic growth forecast to 1.5% from 2.5%

MOSCOW -Russia sees economic growth in 2025 slowing to 1.5%, far below the earlier 2.5% forecast, as high interest rates imposed to reduce inflation have stifled borrowing, Finance Minister Anton...

Sterling retreats as dollar rebounds, traders digest British PPI

August 27 -Sterling slipped on Wednesday as the U.S. dollar firmed against major currencies, recouping losses spurred by investor worries over independence of the U.S. Federal Reserve while traders...

New BIS head stresses importance of central bank independence and accountability

LONDON -The new head of the Bank for International Settlements on Tuesday stressed the need for central banks to focus on inflation and, amid Donald Trump's escalating attacks on the Fed, for their...

Exclusive-US and Russian officials discussed energy deals alongside latest Ukraine peace talks

LONDON -U.S. and Russian government officials discussed several energy deals on the sidelines of negotiations this month that sought to achieve peace in Ukraine, according to five sources familiar...

DAX Investors Take Cover as Defense Stocks Gain Favor

The interest-rate euphoria fueled by U.S. Federal Reserve Chairman Jerome Powell has already dissipated on the German stock market. The DAX opened Monday down 0.5 percent at 24,238 points, after...

Major brokerages pivot to Sept Fed rate cut on Powell's labor warning

Major brokerages, including Barclays, BNP Paribas and Deutsche Bank, now expect a 25-basis-point U.S. Federal Reserve rate cut in September following Chair Jerome Powell's shift in tone at Jackson...

Dollar rebounds from slump spurred by Powell's dovish surprise

NEW YORK -The dollar advanced against major currencies on Monday, bouncing from a steep fall last week that followed remarks from Federal Reserve Chair Jerome Powell that boosted expectations for a...

Russia orders state-backed MAX messenger app, a WhatsApp rival, pre-installed on phones and tablets

MOSCOW -A Russian state-backed messenger application called MAX, a rival to WhatsApp that critics say could be used to track users, must be pre-installed on all mobile phones and tablets from next...

DAX Expected to Open Little Changed as Markets Await Jackson Hole Signals

In anticipation of key interest rate signals from the United States, the DAX is expected to start Thursday's session with little movement, according to calculations by banks and brokerage houses. On...

Russian central bank official says further rate cut this year is not a foregone conclusion

MOSCOW -Russia's central bank may be able to cut its key interest rate from 18% this year if inflation slows rapidly, but it does not rule out holding it at that level in order to achieve a...

Dollar gains before key Powell speech at Jackson Hole on Friday

NEW YORK -The dollar gained on Thursday before a highly anticipated speech by Federal Reserve Chair Jerome Powell on Friday will be evaluated for any new clues on whether the U.S. central bank is...