European gas prices once again rose to record highs on fears over Russian supply peak. The gas prices have spiked in recent days because of the three-day halt in Russian deliveries to Germany via the Nord Stream 1 continues to approach. The biggest fear is that Moscow will now turn the taps back on afterwards […]
Tag: Russia
Chinese Automobile Manufacturer Chery To Start Production In Russia
At a time when many western companies have quit Russia after Ukraine invasion, Chinese companies are planning to expand operations in Russia according to the latest reports. Chinese car maker Chery is in talks with Russian manufacturers about producing cars in Russian plants. Cherry also plans to increase sales from 80000 to 100000 this year […]
Despite The Russian Invasion Mcdonald’s Plans To Reopen Some Branches In Ukraine
The world’s biggest burger chain McDonalds’s had shut all its outlets in Russia and Ukraine following the Russia’s invasion of Ukraine. In a recent development, the company has announced its plans on reopening its restaurants in Ukraine over the next few months. This could be an early indication of western businesses returning to the country […]
IMF slashes global growth forecasts amid Russia-Ukraine war and high inflation
In a major new update, the international monetary fund (IMF) has cut its global growth forecasts for the year 2022 and 2023 further warning of a possible worldwide recession. According to the IMF, the two factors that have contributed to a slow economic growth are the Ukraine war and the downside risks of high inflation. […]
Russia Further Cuts Natural Gas to Europe via Nord Stream 1
The amount of natural gas flowing through the major pipeline from Russia to Europe has been halved by Gazprom. The total gas flowing in the pipeline is 20% of capacity. This is the latest reduction in Nord Stream1 pipeline and Russians blame technical problems are causing this reduction whereas Germany says that this is a […]
Apple Inc. on Russia’s Competition Authority’s List for Violating Anti-Trust Laws
The Federal anti-monopoly service (FAS) which is Russia’s competition authority said that it would fine US tech giant Apple for violating of Russia’s antitrust laws and abusing its dominant position in the iOS app distribution market. FAS said that the size of the fine would be determined during the course of an administrative investigation and […]