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Tag Archives: Economy

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Russian economy minister responds to calls for WTO exit

Russia needs to keep its place in the World Trade Organization despite Ukraine-related Western sanctions, Economy Minister Maxim Reshetnikov said in response to a bill demanding Moscow quit the WTO. “In an attempt to deprive Russia of the benefits of WTO membership, a group of sanctioning countries is attempting to …

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Major EU economy hit with surging energy costs

The price of imported energy in Italy rose in March by 72.5% on a yearly basis, the National Institute of Statistics (ISTAT) reported on Tuesday. Data showed that the increase in energy prices accelerated by 5.6% compared to February. Italy, which relies heavily on Russia for its energy needs, has …

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Musk raises concerns over US economy

Billionaire Elon Musk said on Monday that the US economy is probably in a recession that could last anywhere from a year to 18 months. He suggested, however, that recessions aren’t necessarily a bad thing, adding that he’s been through a few of them in his time in public companies. …

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Ukraine warns of draconian measures to support crashing economy

The Ukrainian government will take “painful” measures if the military conflict in the country lasts another three or four months, according to the country’s Finance Minister Serhiy Marchenko. He said that the drastic steps may include a sharp increase of taxes, spending cuts as well as nationalization. “What in recent …

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Russian economy stronger than expected – JPMorgan

Russia’s economy is coping better with Ukraine-related Western sanctions than could be expected, JPMorgan Chase said in a note to clients dated last week and made public on Monday. According to the biggest US investment bank, business sentiment surveys from the country “are signaling a not very deep recession in …

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Russia vital part of global economy – Austrian ex-FM

Claims by high-ranking officials that the Russian economy is crashing are completely inaccurate, according to former Austrian foreign minister Karin Kneissl, who spoke to RT about the global crisis. She explained that the Russian economy is an important part of the global economy, especially though not exclusively due to its …

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Banning abortion bad for economy – US Treasury chief

President Joe Biden’s Treasury secretary, Janet Yellen, has made an economic case for ensuring that all Americans have access to abortion services, arguing that half a century of allowing women to terminate their pregnancies has increased participation in the labor force. “I believe that eliminating the right of women to …

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US economy hit by unexpected slowdown

The US economy unexpectedly declined by an annualized rate of 1.4% during the first three months of 2022, the Department of Commerce said on Thursday, while noting that consumers and businesses kept spending despite the slowdown. According to the report, the first quarter was hampered by a slower restocking of …

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Wall Street bank raises alarm over US economy

The Federal Reserve will face a difficult task in tightening monetary policy enough to cool inflation without causing a recession in the United States, Goldman Sachs Chief Economist Jan Hatzius wrote in a research report on Sunday and seen by Bloomberg. The analyst sees the odds of economic contraction at …

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