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Oil surged past $105 per barrel and equities tumbled Thursday after key crude producer Russia sent forces into Ukraine, accelerating fears of a major war in eastern Europe. Asian and European stock markets nosedived — with Frankfurt shedding five percent in mid-afternoon trading — as investors fled risky equities, while haven investment, gold, rose to just over $1,955 per ounce. After weeks of warnings from the United States and other powers, Russian President Vladimir Putin […]
HONG KONG, China (AFP) — Equities mostly rose Wednesday and oil prices stabilized as investors tracked developments in the Russia-Ukraine crisis after world powers imposed less harsh sanctions on Moscow than feared. However, trading floors remain on edge after Russian President Vladimir Putin ordered his forces into Ukraine to secure the self-declared Donetsk and Lugansk rebel republics, with Western leaders warning that a war could break out imminently. Global markets have been in turmoil since […]
Oil prices surged close to $100 per barrel Tuesday as major crude producer Russia prepared to send troops into two breakaway regions of Ukraine, sparking Western nations to ready economic sanctions against Moscow. After heavy falls at the open, European stocks edged into positive territory as the Kremlin said it remained open to all diplomatic contact over Ukraine. “The old adage goes that the market hates uncertainty and while that has clearly been evident at […]
by Nathalie OLOF-ORS Agence France Presse ZURICH, Switzerland (AFP) — The “Suisse Secrets” data leak claiming to reveal how Credit Suisse handled billions of dollars in dirty money has renewed pressure on Switzerland’s financial sector, which has spent years trying to clean up its image. Switzerland’s second largest bank was rocked Sunday by a vast investigation by dozens of media organisations into leaked data they said showed Credit Suisse held more than $8 billion […]
by Tim Witcher DOHA, Qatar (AFP) — Qatar’s emir said major gas exporting nations were working to ensure “credible and reliable” supplies as he hosted a forum overshadowed by the worsening crisis in Ukraine on Tuesday. Sheikh Tamim bin Hamad Al-Thani said the 11-nation Gas Exporting Countries Forum, which includes Russia, was striving to preserve stability in world markets, which have been rocked by growing fears of a conflict. But the group made no immediate […]
New York’s West Texas Intermediate crude contract rose more than three percent on Tuesday as Russian President Vladimir Putin ordered troops to deploy in separatist areas of Ukraine. WTI Crude rose 3.14 percent to $93.93 per barrel in early Asian trade, while Europe’s benchmark Brent North Sea crude was up 1.98 percent at $95.39 per barrel. kaf/ssy © Agence France-Presse
MOSCOW, Russia (AFP) — Russian stock indexes fell Monday as the Ukraine crisis rapidly deteriorated, with the Kremlin dampening hopes for a summit between Russian leader Vladimir Putin and US President Joe Biden. The dollar-denominated RTS index was down 8.5 percent at 1200 GMT, and has fallen nearly 19 percent since the start of the year. The Russian currency also slid, with the US dollar being exchanged for 78 rubles and the euro for almost […]
BANGKOK, Thailand (AFP) — Thailand’s economy rebounded in the fourth quarter of last year on the back of rising exports and the easing of coronavirus restrictions that allowed tourists to return, senior officials said Monday. The 1.9 percent on-year expansion was more than double what was forecast and marked a strong bounce after a 0.2 percent contraction in the previous three months. For the whole year the economy grew 1.6 percent, according to the National […]
LONDON, United Kingdom (AFP) — Britain on Friday said it had accepted changes proposed by US tech giant Google to address competition and customer privacy concerns linked to online advertising. “The commitments we have obtained from Google will promote competition, help to protect the ability of online publishers to raise money through advertising and safeguard users’ privacy,” the Competition and Markets Authority (CMA) regulator said in a statement. Google separately said it would “apply […]
LONDON, United Kingdom (AFP) — British consumer goods group Unilever on Thursday logged a rising net profit in 2021 but warned that soaring inflation would ramp up costs again this year. Profit after tax rose 8.4 percent to six billion euros ($6.9 billion) last year, Unilever said in a statement. The group, which has faced fierce criticism over its recent failed $50-billion bid for the health care unit of drugmaker GlaxoSmithKline, ruled out any […]
LONDON, United Kingdom (AFP) — British Covid vaccine maker AstraZeneca said Thursday that net profit collapsed last year, hit by the vast takeover of US biotech firm Alexion and other charges, despite surging revenues. Profit after tax slumped to just $112 million (98 million euros) compared with $3.2 billion in 2020, the pharmaceutical company said in a statement. However, revenues including Covid vaccine sales rebounded 41 percent to $37.4 billion. The Covid jab, Vaxzevria, […]
by Heather SCOTT WASHINGTON, United States (AFP) — The world’s largest economy staged a solid recovery last year as it grew at the fastest pace since 1984, but damage from the Omicron variant of Covid-19 is imminent. Surging prices continue to pose a challenge, as inflation picked up speed in the final three months of the pandemic’s second year, according to official data released Thursday. That threatens to dampen the consumer demand that has underpinned […]
