Export to russia

- A + A (May 26): Russia’s central bank delivered its third interest-rate reduction in just over a month and said borrowing costs can fall further still, as it looks to stem a rally in the ruble and unwinds the financial defenses in place since the invasion of Ukraine. The Bank of Russia lowered its benchmark to 11% from 14% on Thursday at an extraordinary meeting it announced only a day earlier. All 23 economists surveyed by Bloomberg predicted a reduction, with most forecasting a cut of two percentage points. The central bank said it “holds open the prospect of a key rate reduction at its upcoming meetings.” In a statement accompanying the decision, policy makers made little mention of the ruble beyond noting the exchange rate contributed to slower inflation. “External conditions for the Russian economy are still challenging, considerably constraining economic activity,” they said. “Financial stability risks decreased somewhat, enabling a relaxation of some … [Read more...] about Russia cuts rates again and takes aim at ruble’s rebound

By The Associated Press MOSCOW — The Kremlin says it expects Ukraine to recognize the existing situation and accept Moscow’s demands. Asked Thursday if Russia expects Ukraine to make territorial concessions, Kremlin spokesman Dmitry Peskov said that “Moscow expects the acceptance of its demands and the understanding of the real situation that exists de-facto.” Russia has previously demanded that Ukraine recognize the Russian sovereignty over the Crimean Peninsula that Moscow annexed from Ukraine in 2014 and acknowledge the independence of Russia-backed separatist regions in eastern Ukraine. During the talks in March, Ukrainian officials said that the status of Crimea and the separatist regions could be discussed later, but in recent weeks they have toughened their stand and said that Russian troops should pull back to areas where they were before Moscow launched a military action in Ukraine on Feb. 24. Speaking in a conference call with reporters on Thursday, Peskov said … [Read more...] about Live updates | Russia tells Ukraine to accept real situation

- A + A (May 26): The world’s food problem is already severe as prices jump and protectionism flares but there’s a good chance governments can stop it from getting way worse if they heed a lesson from the crisis in 2008 — don’t panic. With a gauge of global prices already at a record following Russia’s invasion of Ukraine, a spate of nations have moved to curb exports in crops from wheat and sugar to cooking oils, exacerbating security risks for the rest of the world. Bad weather is a concern, too. Still, while wheat, corn and soy have soared, rice, a staple for more than three billion people, has so far been more stable. If nations do not panic or start hoarding, they can stop the current crisis from becoming a rerun of the one in 2008, when rice prices soared to put the region’s food security at serious risk, according to Harvard University Professor Emeritus Peter Timmer, who’s studied food security for decades. “The 2008 lesson is: Do not spook the market,” … [Read more...] about Bigger food crisis can be averted If Asia remembers not to panic

A banker watches news on the Russia-Ukraine war at a bank in central Seoul on March 31. [YONHAP] Foreign investors net sold more than 7 trillion won ($5.6 billion) of Korean stocks in the first quarter. LG Energy Solution, with its record-setting initial public offering that went public in January, was the most sold stock by foreign investors in January through March. As the market continues to stay sluggish this year, analysts have lowered their projections on the Kospi in an indication that it may be difficult for the benchmark index to once again reach 3,000 points within the year. Foreign investors net sold 7.57 trillion won Korean stocks in the first quarter. They net sold 5.5 trillion won Kospi stocks, and 1.8 trillion won of secondary Kosdaq stocks. The total market capitalization for Kospi stocks owned by foreign investors was down to 31.61 percent as of last month, the lowest since 31.54 percent recorded in January 2016. They net sold 2.95 trillion won of battery … [Read more...] about Foreign investors offload over 7 trillion won of Korean stocks in Q1

KYIV, Ukraine (AP) — Russia pressed Thursday for the West to lift sanctions imposed because of its war in Ukraine, claiming without proof that the punitive measures are preventing millions of tons of grain and other agricultural products from leaving Ukrainian ports, exacerbating a global food crisis. Ukraine is one of the world’s largest exporters of wheat, corn and sunflower oil, but the war, including a Russian blockade of its ports, has prevented most of those products from leaving the country, endangering the world food supply. But Kremlin spokesman Dmitry Peskov sought to shift the blame to Western sanctions on Thursday. “We accuse Western countries of taking a series of unlawful actions that has led to the blockade.” Western officials have dismissed Russia’s claims that sanctions are responsible. U.S. Secretary of State Antony Blinken noted this week that food, fertilizer and seeds are exempt from sanctions imposed by the U.S. and many others — and that Washington is … [Read more...] about As Ukraine war grinds, world pushes for way to get grain out