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Russia’s gold reserves have reached a record-breaking value of US$310.72 billion, a significant increase of 57% from the previous year. According to data released by the Central Bank of Russia as of November 30th, this marks the fourth consecutive month of…
On June 12, in a vibrant celebration coinciding with Russia Day, WinCommerce unveiled its latest venture—Russia Corner—at the WinMart Royal City in Hanoi. This dynamic space is the brainchild of WinCommerce, the operators behind the WinMart and WinMart+…
Honda Motor Company has said that it won’t be supplying new cars to its authorized dealers in Russia in 2022 as the company is trying to restructure its operations. The Japanese automaker has confirmed that it would keep its presence in the Russian market…
Apple’s decision to stop product sales in Russia over the war in Ukraine has not saved the company expenses, stemming from the multiple antitrust investigations that are going on. One of them has reportedly concluded with a $12.12 million fine over the…
After failing to find buyers, Citi has decided to close its consumer and commercial banking businesses in Russia. Citi will shut down its Russian consumer and commercial banking businesses starting this quarter, it said in a statement Thursday. The closure…
Following Russia’s invasion of Ukraine, UBS reduced its exposure to the country and continues to do so. As a result of sanctions imposed against Russia by various jurisdictions including the US, EU, UK, and Switzerland, among others, UBS said it is not…
India has received 34 million barrels of discounted Russian oil since Moscow invaded Ukraine on Feb. 24, according to Refinitiv Eikon data, more than trebling the value of total imports from Russia, including other products, compared with the same period of…
Southeast Asia and Latin America are strong growth regions for Mastercard after its withdrawal from Russia in March and India’s 2021 ban on it from issuing new cards, the company’s co-president for international markets said. “Southeast Asia is exciting (due…
McDonald’s became the symbol of glasnost in action 30 years ago when it opened its first restaurant in Moscow. But after temporarily shutting down more than 800 restaurants following the invasion of Ukraine, McDonald’s has decided to leave Russia altogether.…
Renault has announced that it has signed an agreement to sell its entire 100 percent stake in Renault Russia along with its controlling stake in Russian firm Avtovaz. The company said that Renault Russia would be turned over to Moscow City entity while its…
Vietnam’s rice exports surged 2.6 times year-on-year to over US$553,000 in Q1, according to Vietnam Customs. The grain was one of Vietnam’s few exports to Russia that increased in the first quarter as the Russia-Ukraine crisis impacted other suppliers. It was…
Tinkoff Bank has so far avoided being sanctioned as its founder and Putin critic Oleg Tinkov stayed in an orbit neither too close nor far from the Kremlin. The Russian bank Tinkoff has avoided being directly caught in sanctions that hit rival banks such as…
Russia is looking to China, India, Iran and Turkey to plug the gap created by an exodus of western retail companies, an industry body said on Friday, as Moscow grapples to find ways to combat its growing isolation in the face of sanctions. The Russian Council…
The largest Vietnamese travel agency for Russian tourists has temporarily suspended its services for the market as a fallout of Western sanctions imposed on Russia.Anex Vietnam Travel and Trading announced the suspension after taking more than 300 Russian…
Like many banks, consultancy firms have announced they are pulling out of Russia in response to the country’s attack on Ukraine. McKinsey is the next audit firm to announce that it is moving its Russia-based staff out of the country. It will be relocating…
Netflix is the latest giant to take a stand in the Russia-Ukraine crisis, as the company announced last night that it is cutting off all of its streaming services to Russia. This is certainly no small decision, as Russia makes up nearly one million of…
