Washington: Moscow's war on Ukraine and the ferocious financial backlash it's unleashed are not only inflicting an economic catastrophe on President Vladimir Putin's Russia.
The repercussions are also menacing the global economy, shaking financial markets and making life more perilous for everyone from Uzbek migrant workers to European consumers to hungry Yemeni families.
Even before Putin's troops invaded Ukraine, the global economy was straining under a range of burdens: Surging inflation. Tangled supply chains. Tumbling stock prices.
The Ukraine crisis both magnified each threat and complicated the potential solutions.
We are actually in uncharted territory,' said Clay Lowery, executive vice president at the Institute of International Finance, a trade group of global banks. We know there are consequences that we cannot predict.'
For now at least, the damage to the overa.....
Washington: his Russian counterpart Vladimir Putin of waging a "premeditated and unprovoked" war against Ukraine, President Joe Biden in his maiden State of the Union Address said the United States is ready to tackle the challenge posed by him.
"Throughout our history we've learned this lesson when dictators do not pay a price for their aggression, they cause more chaos. They keep moving. And, the costs and threats to America and the world keep rising," Biden said addressing the joint session of the Congress in his first State of the Union.
"That's why the NATO Alliance was created to secure peace and stability in Europe after World War II. The United States is a member along with 29 other nations. It matters. American diplomacy matters, he said, launching a blistering attack on Putin.
"Putin's war was premeditated and unprovoked. He rejected efforts at diplomacy. He thought the.....
China, a close ally of Russia, said on Monday that it was opposed to illegal unilateral sanctions and will continue to carry out normal trade cooperation with Moscow, as the US, EU and their allies stepped up punitive measures against Russia, including the interbank messaging system SWIFT.
Asked about what some have described as the "financial nuclear option" at a regular press briefing in Beijing, Foreign Ministry spokesman Wang Wenbin said China opposes the use of sanctions to solve problems and is even more opposed to unilateral sanctions that have no basis in international law.
"China and Russia will continue to carry out normal trade cooperation in the spirit of mutual respect, equality and mutual benefit," Wang said.
The US is joined by some European nations and Canada to remove certain Russian banks from SWIFT, the payment system used for most international financial transa.....
Moscow: Russian troops launched their anticipated attack on Ukraine on Thursday, as President Vladimir Putin cast aside international condemnation and sanctions, warning other countries that any attempt to interfere would lead to consequences you have never seen .
Big explosions were heard before dawn in Kyiv, Kharkiv and Odesa as world leaders decried the start of an Russian invasion that could cause massive casualties and topple Ukraine's democratically elected government.
US President Joe Biden pledged new sanctions meant to punish Russia for an act of aggression that the international community had for weeks anticipated but could not prevent through diplomacy.
Putin justified it all in a televised address, asserting the attack was needed to protect civilians in eastern Ukraine - a false claim the US had predicted he would make as a pretext for an invasion.
He accused the .....
New Delhi: Moody's Investors Service on Thursday raised India's growth forecast to 9.5 per cent for the calendar year 2022 and to 8.4 per cent for the coming fiscal beginning April 1, even as it flagged high oil prices and supply distortions as a drag on growth.
"We have raised our 2022 calendar year growth forecasts for India to 9.5 per cent from 7 per cent, and maintained our forecast for 5.5 per cent growth in 2023. This translates into 8.4 per cent and 6.5 per cent in fiscal years 2022-23 and 2023-24, respectively," Moody's said in a statement.
In November last year, Moody's had forecast India's economy to expand 7.9 per cent in the 2022-23 fiscal beginning Aptil 1. As per official estimates, Indian economy is estimated to grow at 9.2 per cent in the current fiscal ending March 31.
The speed of the recovery from the first lockdown-led contraction in the June quarter of 2020 .....
Canberra: The Morrison Government has imposed sanctions on Russian individuals, organisations and banks as part of the international effort to impose a sharp cost on Russia for its unprovoked and unacceptable aggression against Ukraine.
Under a first phase, the government will impose travel bans and targeted financial sanctions on eight members of Russia’s Security Council. The Council bears responsibility for the current phase of the invasion by providing policy advice and justification to President Putin’s unilateral declaration recognising the so-called Donetsk People's Republic and the Luhansk People's Republic.
Targeted financial sanctions will mean Australian individuals and entities cannot do business with the following banks: Rossiya Bank, Promsvyazbank, IS Bank, Genbank and the Black Sea Bank for Development and Reconstruction. This is in addition to restrictions on Au.....
Boston: Ukraine's parliament and other government and banking websites were hit with another punishing wave of distributed-denial-of-service attacks, and cybersecurity researchers said unidentified attackers had also infected hundreds of computers with destructive malware.
Some of the infected computers were in neighbouring Latvia and Lithuania, the researchers said.
Early Thursday local time in Ukraine, as fears of a Russian invasion heightened, the foreign ministry and council of ministers were unreachable and other sites were slow to load, suggesting the DDoS attacks were continuing, though there was no official confirmation.
Officials have long expected cyber attacks to precede and accompany any Russian military incursion, and analysts said the activity hewed to Russia's playbook of wedding cyber operations with real-world aggression.
ESET Research Labs said it detected a.....
Canberra: Australia will open its borders to all vaccinated tourists and business travellers from February 21 in a further relaxation of pandemic restrictions announced Monday.
Australia imposed some of the world's toughest travel restrictions on its citizens and permanent residents in March 2020 to prevent them from bringing COVID-19 home.
When the border restrictions were relaxed in November in response to an increasing vaccination rate among the Australian population, international students and skilled migrants were prioritised over tourists in being welcomed back to Australia.
Prime Minister Scott Morrison said his senior ministers agreed on Monday that the border would reopen to all vaccinated visas holders from February 21.
Morrison said visitors must have proof of vaccination. He referred to Serbian tennis star Novak Djokovic being deported by the Australian government.....
2022-23వ ఆర్థిక సంవత్సరంలో భారతదేశం స్థూల స్వదేశీ ఉత్పాదన 8నుంచి 8.5శాతం వరకూ వృద్ధిని సాధించబోతోంది. దేశంలో కొనసాగుతున్న విస్తృత స్థాయి వ్యాక్సినేషన్ ప్రక్రియ, సరఫరాల రంగంలో సంస్కరణల ద్వారా అందే ప్రయోజనాలు, నియంత్రణల సడలింపు, ఎగుమతుల్లో భారీ స్థాయి వృద్ధి, పెట్టుబడి వ్యయానికి అందుబాటులో ద్రవ్యనిధి..వంటి సానుకూల పరిస్థితుల నేపథ్యంలో స.....
కేంద్ర ఆర్థిక, కార్పొరేట్ వ్యవహారాల శాఖ మంత్రి శ్రీమతి నిర్మలా సీతారామన్ సమర్పించిన 2021-22 ఆర్థిక సర్వే ముఖ్యాంశాలు:
ఆర్థిక వ్యవస్థ స్థితి:
భారత ఆర్థిక వ్యవస్థ 2020-21లో 7.3 శాతానికి తగ్గిన తర్వాత 2021-22లో (మొదటి ముందస్తు అంచనాల ప్రకారం) వాస్తవ పరంగా 9.2 శాతం వృద్ధి చెందుతుందని అంచనా వేశారు.
జిడిపి 2022-23 లో వాస్తవ పరంగా 8-8.5 శాతం పెరుగుతుందని అంచనా .....
New Delhi: India's economy is expected to grow by 8-8.5 per cent in the fiscal beginning April 1 and is well placed to meet the future challenges on the back of widespread vaccine coverage, supply-side reforms and easing of regulations, said the pre-Budget Economic Survey on Monday
The Economic Survey 2021-22, tabled by Finance Minister Nirmala Sitharaman in Parliament, expects the economy to grow by 9.2 per cent during the current financial year, indicating a recovery to the pre-pandemic level.
The economy had contracted by 7.3 per cent in 2020-21 on account of impact of COVID pandemic and subsequent nationwide lockdowns to check the spread of coronavirus
"Overall, macro-economic stability indicators suggest that the Indian economy is well placed to take on the challenges of 2022-23. One of the reasons that the Indian economy is in a good position is its unique response strateg.....
Perth: Based on the latest health advice, Western Australia's Safe Transition Plan has been updated with new hard border settings from Saturday, February 5 to respond to serious concerns around the impacts of the Omicron variant.
The updated plan means the full border opening will be delayed given the full impacts of Omicron in Australia are still unknown, with the peak of infections not yet reached in jurisdictions with widespread transmission.
Western Australians now have the opportunity to get their third dose, to ensure the best protection possible against the Omicron variant.
The new hard border settings will allow for more safe compassionate travel and the return of Western Australians.
"It would be irresponsible and reckless for the State Government to ignore the facts and ignore the reality of the situation playing out on the east coast," Premier Mark McGowan said whi.....