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Putin and Xi may meet sooner than expected

Chinese leader Xi Jinping could travel to Central Asia in September to meet with Russian President Vladimir Putin on the sidelines of the Shanghai Cooperation Organization (SCO) summit, the Wall Street Journal reported on Friday, citing sources familiar with the matter.  According to the sources, Xi’s office indicated this week …

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Russian economy more resilient than expected – Bloomberg

Russia appears to be on track for a much shallower recession than was initially expected this year, Bloomberg reported on Wednesday, citing experts. Surging oil shipments have blunted the impact of US and EU sanctions, they say. According to the publication, economists from JPMorgan Chase, Citigroup, and other big banks …

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Global chip shortage expected to worsen

Russian government restrictions on exports of gasses used in semiconductor production may exacerbate the shortage of chips in the global market and further increase prices, the Global Times reported this week, citing sources. Xiang Ligang, director-general of the Beijing-based Information Consumption Alliance, told the outlet that the restrictions could affect …

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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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US consumer prices spike even worse than expected

Prices of consumer goods continue to soar across America, the latest official print of the Consumer Price Index confirmed on Wednesday, showing price growth at 8.3% over the last 12 months as of April. This marks the eleventh straight month of inflation registering over 5% and exceeds the 8.1% expected by …

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Russia’s oil revenues expected to soar

Russia will see its income from the oil sector rise sharply this year and reach more than $180 billion, despite production cuts related to international sanctions, suggests a report published by independent research house Rystad Energy on Monday. Thanks to the rising oil prices, Russia’s tax revenues will be 45% …

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Expected EU sanctions against Russia unveiled

The European Commission is set to propose a new broad package of sanctions on Russia over the conflict in Ukraine, media reported on Tuesday. According to the Wall Street Journal, among the expected measures are a ban on Russian coal, restrictions on access of Russian trucks and ships to the …

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1,000s of unvaccinated NHS staff may be fired later than expected

The UK government’s threat to fire unvaccinated National Health Service (NHS) staff is likely to be delayed amid fears of a Conservative Party revolt against Prime Minister Boris Johnson, according to The Telegraph. The NHS vaccine mandate will probably be “kicked down the road” and delayed by six months, though …

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Earth’s core cooling faster than expected – study

The Earth’s molten interior is cooling faster than expected, which could turn the planet into a cold, inactive world similar to neighboring Mercury and Mars sooner than previously thought, researchers have warned. The study, published in the Earth and Planetary Science Letters journal, examined how well bridgmanite – the primary …

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