Currencies

Britain vows to toughen its trade defences under new strategy

LONDON -Britain said it would toughen up its trade defences to better protect industries amid a turbulent global outlook of trade wars and U.S. tariffs that has shaped its new trade strategy...

Sterling holds firm near January 2022 highs

LONDON -The pound held steady against the dollar on Wednesday, consolidating gains from the past two days, as investors felt confident enough in the fragile ceasefire between Israel and Iran to dip...

Russia says NATO needs to demonise it to justify 5% defence spending target

MOSCOW -The Kremlin said on Tuesday that NATO was on a path of rampant militarisation and bent on portraying Russia as a fiend of hell in order to justify committing to a big increase in member...

DAX Surges on Relief Over Ceasefire

The ceasefire between Israel and Iran, announced by US President Donald Trump, has renewed risk appetite among DAX investors. The German benchmark index jumped 1.8 percent at the open, reaching 23,688...

Italy has frozen Russian oligarchs' assets worth over $2.6 billion

MILAN -Italy has frozen Russian oligarchs' assets valued at around 2.3 billion euros since the invasion of Ukraine in 2022, data provided by Italian authorities show, with the most recent seizures...

Putin says war in Ukraine is not killing Russia's economy

ST PETERSBURG, Russia -Russian President Vladimir Putin on Friday dismissed claims the war in Ukraine is devastating the Russian economy, citing continued growth, low debt and economic...

Sterling set for weekly loss as Middle East conflict overshadows domestic data

Sterling gained slightly against the dollar on Friday but was set for a loss on the week as uncertainty over the Israel-Iran conflict fuelled demand for traditional safe havens such as the...

Russia's flagship economic forum offers scant hope of foreign investment revival

ST PETERSBURG, Russia -Foreign direct investment into Russia has fallen sharply, U.N. data published on Thursday showed, and Russia's premier economic forum in St Petersburg this week is offering...

Fears of Iran Conflict Escalation Weigh on DAX

The prospect of U.S. involvement in Israeli strikes against Iran sparked unease among DAX investors on Corpus Christi, sending Germany's leading index down as much as 0.9 percent to 23,118 points...

Russia's Novak says no one has approached government about buying Nord Stream 2

ST PETERSBURG -Russian Deputy Prime Minister Alexander Novak said on Thursday that no one has approached the Russian government about buying the Nord Stream 2 gas pipeline. The Wall...

EU countries reach deal on new defence funding programme

BRUSSELS -European Union governments have reached an agreement on a 1.5 billion-euro EU scheme to fund defence investments, although some complained that its 'buy European' provisions are too...

Exclusive-Russia's Sberbank warns of economy overcooling, says key rate below 15% would spur growth

ST PETERSBURG -The Russian economy could cool down excessively due to high interest rates and may face difficulties returning to a growth path, Alexander Vedyakhin, First Deputy CEO of Russia's...

Gloom pervades ahead of Fed meet's outcome

A look at the day ahead in European and global markets from Rae Wee Markets head into Wednesday's Federal Reserve rates decision with much uncertainty around the global economy, trade...

US tariffs, tax hikes to depress UK growth this year and next, CBI forecasts show

LONDON -One of Britain's leading business groups on Wednesday slashed its forecast for economic growth in 2025 and next year due to headwinds from U.S. President Donald Trump's tariffs and an...

Sterling drops to six-week low against euro

Sterling rose against the U.S. dollar on Thursday but dropped to a six-week low against the euro, following weak economic data from the U.S. and the UK.  The euro hit its highest level...

AerCap can recover over $1 billion, UK court rules in case over jets 'lost' in Russia

LONDON -The world's largest aircraft lessor AerCap can recover over $1 billion in relation to jets stuck in Russia since the invasion of Ukraine, London's High Court ruled on Wednesday, though that...

Potato price surge fuels inflation pain for Russia's poorest

At a farm near Moscow, newly arrived guest workers from India are planting potatoes and cabbages - work closely monitored by central bank analysts as they prepare for board meetings to set interest...

EU's new Russia sanctions to target energy sector and banks

BRUSSELS -The European Commission proposed on Tuesday an 18th package of sanctions against Russia for its invasion of Ukraine, aimed at Moscow's energy revenues, its banks and its military industry. ...

UK pay growth slows as jobless rate rises to highest since 2021

LONDON -Pay growth in Britain slowed sharply and unemployment rose to its highest in nearly four years in the three months to April, official data showed on Tuesday, potentially making the Bank of...