Hey folks, welcome to this Sunday’s rundown of the top news!
[Russia] Russia has boosted the fund that cushions its sanctions-hit economy with $3.4bn in additional oil and gas revenues thanks to rising energy prices since the start of its war with Ukraine, as it edges closer to its first debt default since 1998. Economists predict that Russia’s GDP will contract by 10% this year. Please use the sharing tools found via the share button at the top or side of articles. Despite this, earnings from commodity exports and harsh capital controls have helped Moscow to stabilise its currency and prevent a financial collapse in the face of severe economic sanctions imposed by western countries and their partners.
Over60: FT
[Monetary Policy] The Reserve Bank of India decided to keep its key policy rate unchanged at 4%. The decision comes as central banks worldwide have started increasing interest rates in a bid to control spiralling inflation. However, the RBI has decided to remain accommodative and gradually withdraw its accommodative stance.
Over60: Economic Times
[Private Equity] Bain Capital is rumoured to propose a deal to the management team of Toshiba which would take the Japanese conglomerate private.
Over60: Nikkei Asia
[Debt] Investors withdrew close to €14bn from European corporate debt funds in the first three months of the year, the worst quarter since the start of the pandemic, as the war in Ukraine fired up already rapid inflation and stirred market volatility.
Over60: FT