ISTANBUL (AA) – More global brands have joined major companies from different sectors suspending their operations in Russia. It was only a few days after Russia started what it called a “special military operation” in its neighbor on Feb. 24 that various sectors in Russia, ranging from technology to automotive and energy, have anno...
MOSCOW – Russia’s VTB Bank has launched accounts in Chinese currency yuan offering up to 8% rate to deal with the volatility on the currency market. Customers will be able to open such deposit accounts from March 9 in their online personal cabinets with a minimum amount of 100 yuan (around $16), and in offices […]
Rising crude oil prices are expected to lower oil-rich Gulf nations’ need to sell Islamic bonds, according to Moody’s Investors Service. Higher oil prices will lead to lower sukuk issuance in 2022. Sukuk is the name for interst free bonds. That’s driven largely by lower financing needs among Gulf Cooperation Council countries, according to a...
U.S. biotechnology company Moderna plans to invest more than $500 million in a vaccine and drug manufacturing facility in Kenya. Leaders of the African nation signed a memorandum of understanding with Moderna on Monday in the capital Nairobi. The new facility will help address the problem of vaccine inequity experienced across Africa. Kenyan P...
BUDAPEST (AA) – Hungarian Prime Minister Viktor Orban announced Tuesday that his country is against possible sanctions on Russia that would cover imports of its oil and natural gas. Following a meeting in London with his counterparts from fellow Visegrad Group countries Poland, the Czech Republic and Slovakia along with British Prime Min...
TEL AVIV, Israel– Turkish and Israeli businesspeople are hoping the visit to Turkiye by Israel’s president will give a boost to already thriving trade ties. Isaac Herzog’s visit starting March 9 materialized at the invitation of Turkish President Recep Tayyip Erdogan. Ahead of the visit, Turkish and Israeli trade missions gathered in Tel Aviv ...
WASHINGTON- Russia has become the world’s ‘most sanctioned country’ due to its war on Ukraine, according to recent data. Moscow has been subjected to 2,778 new sanctions in just under two weeks since Russian President Vladimir Putin ordered troops into Ukraine, bringing the total to 5,532, according to the global sanctions mo...
Russia has become the world’s most sanctioned country due to its war on Ukraine. The international community has imposed 2,778 new sanctions on Moscow in just under two weeks since Russian troops invaded Ukraine. The total number of sanctions increased to 5,532, according to the global sanctions monitoring database Castellum.ai. By comparison,...
The 14th Emir of Kano and former governor of Central Bank of Nigeria, is calling for religious tolerance among Nigerians while canvassing support for Islamic finance. Lamido Sanusi spoke Sunday in Lagos as the guest of honour at the fifth national discourse organized by The Companion, an association of Muslim businessmen and professionals. San...
MOSCOW – The Russian government has issued a list of countries “taking unfriendly actions”, referring to the sanctions imposed on it. The list includes Albania, Andorra, Australia, Great Britain and includes Jersey, Anguilla, British Virgin Islands, Gibraltar, EU member states, Iceland, Canada, Liechtenstein, Micronesia, Mona...
