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Russia's 'overheating' economy will face a sharp slowdown next year as labor and sanctions crush momentum, central bank says
Russia's central bank projects that the economy's expansion will slow sharply to 0.5% to 1.5% in 20…
Filip De Mott
Russia is turning to crypto as sanctions snarl payments, report says
Russia could start cryptocurrency exchange trails as soon as next month, in order to solve payment …
Filip De Mott
Russian banks say they're run out of yuan as Chinese firms pull away from the nation
Payment scuffles between Russian companies and Chinese banks have escalated in recent weeks, with C…
Jennifer Sor
China's yuan is tumbling amid US sanctions and as central banks boost dollar holdings
China's yuan fell to its lowest value against the ruble in a year as holders eye the impact of sanc…
Jennifer Sor
China's trade with Russia is getting so difficult that payments can take half a year and most bank transfers are returned
Chinese banks are tightening compliance checks, fearing repercussions from Western sanctions.
Huileng Tan
China's yuan will take over as Russia's main trade currency 'once and for all' as US sanctions get tighter, think tank says
Ruble volatility will get worse in Russia amid fresh US sanctions, but this offers a way for the Ch…
Filip De Mott
The 4 forces that will challenge the dominance of the dollar, according to economic researchers
The dollar's dominance in financial markets has slipped, with the greenback accounting for less tha…
Jennifer Sor
Russia is doubling down on its de-dollarization efforts as Putin calls to reduce use of 'toxic' currencies
Russia's use of "toxic" currencies has been slashed in half over the past year, Putin said.
Jennifer Sor
Russia shuts down dollar and euro trading after sweeping US sanctions take aim at Moscow's financial lifelines
Russians were lining up at one lender that was still offering dollars after trade was restricted fo…
Filip De Mott
Why Russia's brain drain is the biggest problem facing its economy
Russia is missing around 5 million workers - one sign that the exodus of Russians is eating away at…
Jennifer Sor
Stock market today: Indexes trade mixed after the S&P 500 hits longest winning streak of the year
The stock rally lost momentum Tuesday morning as investors gear up for the Fed's symposium in Jacks…
Filip De Mott
The boss of Russia's biggest bank said the country's economy is 'definitely and strongly overheated'
Russia's economy is driven by wartime activities, government subsidies that steady the economy, and…
Huileng Tan
S&P 500 caps off its best week of the year after strong economic data
The S&P 500 rose 3.9% over five days as major indexes reversed the sharp sell-off earlier this mont…
Max Adams
Some Russians are spending like no tomorrow with 'considerable' overheating in the economy
Russia's central bank hiked interest rates from 16% to 18% to cool its overheated wartime economy.
Huileng Tan
Countries from Russia to China are building payments systems that could threaten the dollar's global dominance
Cryptocurrencies, SWIFT alternatives, and even the barter system could reshape global payments amid…
Huileng Tan
The US dollar has become so weaponized that central banks are snapping up politically-neutral gold
Gold is seen as a politically neutral, safe asset, insulated from sanctions. China has doubled down…
Huileng Tan
Russia's economy is still raking it in, but many billions of dollars are stranded overseas
Russia's foreign financial assets rose $44.6 billion in the first seven months of this year, with a…
Huileng Tan
The West can't completely isolate Russian banks because it would be disastrous beyond Russia
The West could still block the access of all Russian banks to SWIFT — but it would come with major …
Huileng Tan
De-dollarization is a fad that will backfire on countries trying to move away from the greenback, currency expert says
Dollar dominance is sticking around for at least the next few decades, one currency expert told Bus…
Jennifer Sor
Stock market today: Nasdaq suffers worst day since 2022 as weak earnings spark steep sell-off
The Nasdaq dropped more than 3%, fueled by a selloff in Tesla and Alphabet shares after earnings. T…