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Short, fast updates on the day's moving stories.
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Brent Crude Falls to $105 a Barrel as Supply Fears Ease
Oil prices slipped on Thursday after a sharp drop a day earlier, as Saudi Arabia's plan to reroute crude through Oman and hopes of easing Middle East tensions calmed supply concerns. US fuel inventories rose unexpectedly.
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Putin Expects Russia's GDP Growth Within 1% in 2026 as Inflation Eases to 6.2%
Speaking at an economic meeting on 17 September 2026, President Vladimir Putin said Russia's GDP growth would be within 1% for the year, matching budget projections. Inflation stood at 6.2% as of 14 September, down from double-digit 10.3% in Q1 2025. Unemployment remains near historic lows at 2.3%, real wages grew 6.5% in H1 and retail sales rose 5.4% over seven months.
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Ruble Eases Against Yuan at Moscow Exchange as Oil Slides for Second Day
The Chinese yuan edged up at the Moscow Exchange on Thursday morning, with the ruble weakening against the backdrop of oil falling for a second consecutive day. Brent futures traded near $104.8 a barrel, while Russian annual inflation slowed to 6.27% as of September 14, according to Rosstat data.
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Airbus Hands Over First A320neo From Second Tianjin Assembly Line
The European planemaker delivered the first aircraft from its second final assembly line in Tianjin to China Eastern Airlines, a step toward 75 A320-family jets a month.
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Bank of Russia Holds Key Rate at 14% After Ten Straight Cuts
Russia's central bank paused its easing cycle on 11 September 2026, keeping the key rate at 14% as annual inflation stood at 6.3% and pro-inflationary risks mounted; the next decision is due on 23 October.
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Federal Reserve Raises Rates for the First Time Since 2023
The US central bank lifted its benchmark rate by a quarter point to 3.75%-4%, a unanimous move against stubborn inflation that puts the new chair at odds with the White House.
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Nobel Laureate Michael Kremer Named World Bank Chief Economist
The Nobel prize-winning economist and University of Chicago professor will take up the role on 1 October, the World Bank said.
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Russian Inflation Slows to 6.27% as Weekly Price Growth Cools
Consumer prices rose just 0.02% in the week to 14 September, with annual inflation easing to 6.27%, as the central bank keeps its key rate on hold at 14%.
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Petrol Prices Fall in 21 Russian Regions After Summer Shortages
Fuel became cheaper across a fifth of Russian regions in the week of 8-14 September, with the sharpest drop in Sevastopol, as summer emergency measures begin to take effect.
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Saudi Aramco Eyes Partial Restart of East-West Oil Pipeline Within Days
Saudi Arabia plans to resume pumping oil through the East-West pipeline, shut down last week after drone attacks, to about half of its previous volume within days, Bloomberg reported, citing sources. Saudi Aramco is working to bypass the damaged section, with full restoration expected in about six weeks.
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Snapchat Open to Teen Time Limits, Snap Boss Tells BBC
Snap chief executive Evan Spiegel told the BBC the company would be willing to implement time limits for teenage Snapchat users, following pressure from Meta after its multi-billion dollar settlement with US states. The interview also covered new features for Snap's upcoming Specs smart glasses.
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UK towns with the fewest jobs for young people
A new IPPR 'local youth opportunity index' shows Rotherham has the fewest suitable job opportunities for young people in Britain, with a sixfold gap versus the Cotswolds and nine of the ten best areas located in the south of England.
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UAE to Invest $46 Billion in Germany Across Energy, Defence and Digital Sectors
The United Arab Emirates has decided to invest $46 billion in various sectors of the German economy, from artificial intelligence to energy and defence, to deepen its strategic partnership in Europe, Bloomberg reported. About $10 billion is earmarked for Bavaria, and UAE Foreign Trade Minister Thani Al Zeyoudi said the commitment is 'only the beginning'.
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Analysts Cut Russia's 2026 GDP Growth Forecast to 0.5%
Analysts surveyed by the Bank of Russia lowered their 2026 GDP growth forecast to 0.5% from 0.6% and raised the inflation projection to 6.6%, while keeping the average key rate expectation for 2026 at 14.5% per year.
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Russia's Trade Surplus Falls 8.2% in 2025 as Exports and Imports Both Decline
Russia's positive foreign trade surplus fell 8.2% to $139.3 billion in 2025 as exports declined 3.7% to $418.3 billion and imports eased 1.4% to $279.0 billion, Federal Customs Service data show.
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South Korea's GDP Growth Halves to 1% in 2025 as Semiconductor Exports Offset Construction Slump
South Korea's real GDP grew just 1.0% in 2025, halving from 2.0% the previous year, as a construction slump and weak facility investment dragged the economy down despite a 13.2% surge in semiconductor output. The fourth quarter contracted 0.2%, capping a volatile year in which exports grew 4.2% led by chip demand, according to Bank of Korea data reported by The Korea Herald.
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Russia's International Reserves Jump 23.9% in 2025 to a Record $754.9 Billion
Russia's international gold and forex reserves rose by $145.8 billion, or 23.9%, over 2025 to a record $754.9 billion, with higher gold prices accounting for almost 90% of the annual gain and the gold share reaching 43.3%, the highest since March 1995.
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Bank of Russia Cuts Key Rate to 16% in Fifth Straight Reduction
The Bank of Russia cut its key rate by 0.5 percentage points to 16% on December 19, 2025 — the fifth consecutive reduction of the easing cycle that began in June from a record 21%. Annual inflation was estimated at 5.8% as of December 15 and is expected to end the year below 6%, under the floor of the regulator's October forecast.
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UK Inflation Falls Sharply to 3.2% as Slowing Food Prices Clear Way for Rate Cut
UK CPI inflation fell to 3.2% in November 2025 from 3.6% in October — below the 3.5% forecast and the lowest in eight months — as food prices eased and Black Friday discounts bit. Core inflation cooled to 3.2%, financial markets priced in a more than 90% chance of a quarter-point Bank of England cut from 4%, and the pound fell 0.7% against the dollar.
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Russian Depositors Set to Earn a Record 9.5 Trillion Rubles in Interest Income in 2025
VTB estimates that Russian depositors will receive more than 9.5 trillion rubles in interest income on savings products in 2025, about one and a half times more than a year earlier; PSB forecasts 8.3 trillion rubles and Absolut Bank 10.1 trillion rubles, while tax receipts from deposit income are expected to hit a record 305 billion rubles.
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Weak Won Keeps Bank of Korea on Hold at 2.5% Despite Growth Upgrade
The Bank of Korea kept its benchmark interest rate at 2.5 percent on 27 November 2025, citing the won's slide to a seven-month low of 1,477.1 per dollar, while raising its 2025 economic growth outlook to 1 percent on strong exports and resilient domestic consumption.
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Bank of Russia cuts 2025 GDP forecast to 0.5-1.0% and lowers key rate to 16.5%
The Bank of Russia lowered its 2025 GDP growth forecast to 0.5-1.0% from 1.0-2.0% in the July version of its medium-term outlook, published after the board meeting on October 24, 2025, at which the key rate was cut to 16.5% from 17%. The Q4 2025 GDP estimate was worsened to a range of minus 0.5% to plus 0.5% year-on-year, while forecasts for 2026-2028 were left unchanged.
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Rosstat Confirms Russian GDP Growth of 1.1% in Q2 2025 as Economy Cools Sharply from Prior Year
Rosstat confirmed on 24 September 2025 that Russia's GDP grew 1.1% year on year in the second quarter and 1.2% in the first half, with Q2 output of 49.5 trillion roubles. Hotels and restaurants (+9.2%), finance (+11%) and manufacturing (+3.8%) led growth, while mining, wholesale and retail trade contracted.
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Bank of Russia Says Key Rate Could Reach Single Digits by End of 2026
Advisor to the Bank of Russia governor Kirill Tremasov said the forecast path of the key rate allows it to fall to a single-digit level by the end of 2026, after the regulator cut the rate by 100 basis points to 17% on September 12.
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Value of Russia's Gold Reserves Hits Record $255 Billion
The value of Russia's gold reserves reached a record $250 billion at the end of August and gold holdings climbed 2.6% to $255 billion, the highest in modern history, while gold's share in the country's reserve assets rose to 37% — the maximum since October 1999, Bank of Russia data reviewed by RIA Novosti showed.
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Russia Orders New Support Measures for Metallurgy and Coal Industries
Deputy Prime Minister Alexander Novak instructed the Industry and Trade Ministry, the Finance Ministry and the Economic Development Ministry to work through initiatives of the largest companies and prepare support measures for Russia's metallurgical and coal industries, the cabinet press service said after an August 28 subcommission meeting on the stability of the financial sector and individual sectors of the economy.
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IMF Lifts 2025 US Growth Forecast to 1.9% as Tariff Pressure Eases
The International Monetary Fund raised its forecast for US economic growth in 2025 to 1.9%, 0.1 percentage point above its April estimate, citing lower tariffs than announced on 2 April and softer financial conditions. Growth in 2026 is now seen at 2%, and the July OBBBA fiscal package could add an average of 0.5% to US GDP through 2030.
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Ruble Share in Russia's Export Settlements Tops 50% for the First Time
Ruble payments for Russian exports reached a record 52.3% in April 2025, up 11.9 percentage points year on year, according to Bank of Russia data reviewed by RIA Novosti and published by Prime. Every world region increased its ruble share, with Africa reaching 98.3%, while payments in unfriendly currencies fell to a record low of 14.1%.
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Russia Cuts 2025 Oil and Gas Budget Revenue Forecast by 24%
Amendments to Russia's 2025 federal budget cut projected oil and gas revenues by 2.6 trillion rubles to 8.32 trillion rubles, or 3.7% of GDP, as the export price forecast for Russian crude was lowered from $69.7 to $56 per barrel and the rouble exchange rate outlook was revised following the sharp oil price drop triggered by announced US protectionist measures in early April.
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Global Markets Fall as Trump Signals Tariffs on 'All Countries'
Stocks slid across Asia, Europe and the US after the president crushed hopes that 'reciprocal tariffs' would spare most trading partners, sending investors into safe havens.
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Russia's GDP Grew 4.1% in 2024, Reaching a Record 200 Trillion Roubles
Russia's economy expanded by 4.1% in 2024 according to Rosstat's first preliminary estimate, Prime Minister Mikhail Mishustin told President Vladimir Putin, beating the official forecast by 0.2 percentage points. Nominal GDP hit a record 200 trillion roubles, December growth reached 4.5%, and the 2023 figure was revised up to 4.1%. For 2025, the central bank expects only 0.5-1.5% growth as authorities target balanced expansion and lower inflation.
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Russian Banks Post Record 3.8 Trillion Rouble Net Profit in 2024
Banks in Russia earned a record 3.8 trillion roubles of net profit in 2024, up from the previous record of 3.3 trillion roubles in 2023, according to the Bank of Russia's sector review. December profit fell 2.8 times to 187 billion roubles as currency revaluation, year-end costs and impairments weighed on results, while the capital buffer grew to about 7 trillion roubles and the regulator forecast 2025 profit of 2.7–3.2 trillion roubles.
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Russia's LNG Exports Rose 4% in 2024 to Record 33 Million Tonnes, Novak Says
Russian LNG exports increased by 4% in 2024 to approximately 47.2 billion cubic metres (around 33 million tonnes), Deputy Prime Minister Alexander Novak said, as the country redirected energy flows from pipeline gas to liquefied natural gas amid the loss of the European market. The growth was driven by the Novatek-led Arctic LNG and Yamal projects.
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Russia Sets Record Oil Exports to China in 2024 at 108.5 Million Tonnes, Widening Lead Over Saudi Arabia
Russia retained its status as China's top oil supplier in 2024, setting a new record of 108.47 million tonnes (2.19 million bpd) worth $60.2 billion, according to China's General Administration of Customs. Saudi Arabia remained second but saw shipments fall 8.5% to 78.64 million tonnes, while Malaysia rose to third with a 28.4% jump to 70.33 million tonnes as a transit hub for Iranian and Venezuelan crude.
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China Logs 5% GDP Growth in 2024 as Exports and Late-Year Stimulus Deliver Target
China's economy grew 5% in 2024, meeting Beijing's official target, as strong exports and a late-year stimulus package provided the final push, according to data reported by the South China Morning Post. The property sector continued to contract, falling to 6.3% of GDP from 6.8% the previous year, while manufacturing and external trade carried the burden of growth.
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Russia Exported 83.5 Million Tonnes of Grain in 2024, Up 4%, as China Enters Top Five Buyers
Russia exported 83.5 million tonnes of grain and grain products in 2024, 4% more than in 2023, according to Rosselkhoznadzor data from the Argus-Phyto system. China entered the top five buyers for the first time, with spring wheat shipments doubling and barley rising 43%. Main buyers remained Middle East, African and Asian countries, with the strongest growth from Vietnam, Nigeria, Morocco and Sri Lanka.
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World Trade Hits Record $33 Trillion in 2024 as Global Growth Stabilises Below Pre-Pandemic Pace
Global trade reached a record $33 trillion in 2024, up $1 trillion from 2023, according to UNCTAD data, while the World Bank projected global GDP growth of 2.6% — stable but well below the 3.1% average of the pre-pandemic decade. Services trade drove half the increase with 7% growth.
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Bank of Russia Sees Inflation Peaking in April 2025 at No More Than 9.8% This Year
Annual inflation in Russia will peak in April 2025 before declining actively, the Bank of Russia's monetary policy director Andrey Gangan said, estimating 2024 price growth at no more than 9.8% against the October forecast of 8-8.5%. Economists see about 10% in the first quarter of 2025 and no February rate cut, while the antitrust regulator dismissed media claims of a 10-20% gasoline price surge linked to Transneft's 5.8% tariff indexation.
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Bank of Russia Holds Key Rate at 21%, Defying Analysts' Hike Expectations
The Bank of Russia kept its key rate at 21% on 20 December 2024, surprising markets that had largely priced in a 200-basis-point hike to 23%, and forecast annual inflation returning to the 4% target in 2026.
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US Economy Is Booming, but Many Americans Say They Feel Little of It
New jobs, record markets and falling inflation have made the US economy 'the envy of the world', yet a Guardian survey found many households still feel priced out by the cost of living.
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Russia's Economy Ministry Holds 2025 GDP Forecast at 2.5% Despite Signs of Cooling
Russia's Ministry of Economic Development sees signs that the economy has begun to cool and will closely analyse fourth-quarter data, but for now keeps its 2025 GDP growth forecast at 2.5%, Economy Minister Maksim Reshetnikov said on 30 October 2024 at a business forum in Tanzania. The ministry raised its 2024 forecast to 3.9% in September, while the Bank of Russia, having lifted the key rate from 19% to 21%, sees 2025 growth of just 0.5-1.5%.
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Bank of Russia Raises Key Rate by 200 Basis Points to 21%, Signals Possible Further Hike
On 25 October 2024 the Bank of Russia board of directors raised the key rate by 200 basis points to 21% per annum, well above the 100-point step most analysts expected. The regulator said inflation was running substantially above its July forecast and did not rule out another hike at the next meeting on 20 December. The Russian stock market turned lower after the decision.
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Russia's Internet Economy Hit 17.1 Trillion Rubles in 2023, Up 40% Year on Year
Russia's internet economy grew to 17.1 trillion rubles in 2023, more than 3.5 times its 2019 level, driven by digital services, IT investment and online advertising. RAEC forecasts another 40% expansion to 23.8 trillion rubles in 2024, while cybersecurity workforce shortages and hardware import dependence remain key challenges.
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US Economic Growth Slows as Inflation Picks Up Again
The US economy expanded at an annualised rate of just 1.6% in the first quarter of 2024, far below forecasts, while inflation accelerated to 3.4%, complicating the Federal Reserve's path to interest rate cuts.
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Sberbank Posts Record 1.5 Trillion Rouble IFRS Net Profit for 2023
Sberbank earned 1.5086 trillion roubles of net profit under IFRS in 2023, a 5.2-fold increase on the restated 2022 result and slightly above consensus, with return on equity jumping to 25.3% from 5.2% and the capital base strong enough to support payouts of at least half of profit as dividends.
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Record Staff Shortage: 47% of Russian Industrial Enterprises Lack Workers, Gaidar Institute Survey Shows
The January survey by the Gaidar Institute for Economic Policy found that 47% of Russian industrial enterprises are short of staff — the highest reading since the polls began in 1996. The previous peak, recorded in July 2023, was later revised to 45%, while in October only 39% of plants reported shortages. Economists at the Russian Academy of Sciences put the 2023 labour deficit at 4.8 million people, the central bank calls the workforce shortage the main problem of the economy, and 85% of employers expect it to persist through 2024.
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Russia's Antitrust Watchdog Finds Wildberries and Ozon Collectively Dominant With 80% of Online Retail
Russia's Federal Antimonopoly Service completed its competition analysis in December and established that Wildberries and Ozon hold a collective dominant position in online retail with a combined share of about 80%, opening the way to stricter antitrust regulation. Under the moratorium on IT-company inspections, the FAS is counting on the platforms voluntarily eliminating violations after complaints about logistics costs, imposed terms and fines.