India to boost shipments to Russia by $ 2 billion

India is planning to boost shipments to Russia by an additional $2 billion as the two nations work out a payment system in local currencies to continue bilateral trade amid sweeping international sanctions on Russia for invading Ukraine. The Prime Minister Narendra Modi’s administration is in talks with Moscow to liberalise market access for several […]

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Fitch Ratings cut world growth forecasts as inflation intensifies due to war

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The outlook for global GDP growth has deteriorated significantly as inflation challenges intensify and Russia’s invasion of Ukraine threatens global energy supplies. Fitch Ratings’ March 2022 Global Economic Outlook sees world GDP growth reduced by 0.7pp in 2022 and sharp upward revisions to inflation forecasts. “Global inflation is back with a vengeance after an absence […]

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India might emerge as key global player in wheat after sanctions on Russia

India’s role in maintaining food security on the global stage could significantly increase if it succeeds in expanding its market share of wheat. New Delhi is already the largest exporter of rice. With the US and European Union slapping sanctions against Russia, wheat supplies have become uncertain leading to high prices. Sources said that several […]

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EIA says price forecast “highly uncertain” due to Russia, but expects Brent crude to average $117/barrel in March

The U.S. Energy Information Administration (EIA) said in its latest short-term outlook report that it expects the Brent price ot average $117/b in March, $116/b in 2Q22, and $102/b in the second half of 2022 (2H22) and fall to $89/b in 2023, but the price forecast was “highly uncertain” due to the situation in Ukraine […]

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Fear of Russia-Ukraine crisis impacting commodities market

Several commodity markets are starting to price in some geopolitical risk around the growing tension between Russia and Ukraine. There is still plenty of uncertainty over how the situation will evolve, but it is still worthwhile to look at what the potential impact could be should tension boil over into a conflict. A scenario where […]

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U.S. waives sanctions on frozen Iranian oil funds

The United States has temporarily waived sanctions on Iranian oil funds abroad but without returning Tehran’s access to its bank accounts in Japan and South Korea. “Allowing these funds to be used to repay exporters in these jurisdictions will make those entities whole with respect to the goods and services they exported to Iran, address a recurring […]

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