BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Rio Tinto Raises 2025 Copper Output Outlook as Oyu Tolgoi Expansion Accelerates 
EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Momenta Quietly Moves Toward Hong Kong IPO Amid Rising China-U.S. Tensions 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Hikvision Challenges FCC Rule Tightening Restrictions on Chinese Telecom Equipment 
Amazon Italy Pays €180M in Compensation as Delivery Staff Probe Ends 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
ExxonMobil to Shut Older Singapore Steam Cracker Amid Global Petrochemical Downturn 
GM Issues Recall for 2026 Chevrolet Silverado Trucks Over Missing Owner Manuals 
Russia started to attack Ukraine last week, and a full-scale invasion has been launched the past weekend. President Vladimir Putin has ordered devastating attacks by air, land, and sea, and the Russian troops are now closing in on Ukraine's capital.
Putin shuttered the peace deal in Europe when he sent the forces across Ukraine's borders at all points, including the north, east, and south. The number of deaths is climbing each day, and the rest of the world is also affected by the situation, including economically.
Many countries are making immediate plans to help local businesses in dealing with the impact of the Russia-Ukraine crisis. Some companies are already feeling the effects of the ongoing war as their businesses had to close down while others are experiencing supplies shortage since many firms have stopped operating though temporarily.
It was reported that billionaires in Russia have been affected as well, and the richest people there have paid a steep price for their president's invasion order of Ukraine. As Putin ignored the pleas and warnings to proceed with his plans of a full-fledged invasion, the New York Post reported that the country's billionaires reported a combined loss of $39 billion in on-paper net worth.
This happened as the nation's stock market sunk in response to the invasion. Moscow Exchange's (MOEX) Index was said to have closed 33% lower late last week, and this was the worst single-day market crash in Russia's history.
Among all the Russian billionaires, it was Vagit Alekperov, the chairman of Lukoil energy firm, was the most affected. He was hit the hardest and lost almost a third of his on-paper fortune net worth, which is based on the Bloomberg Billionaires Index is equivalent to more than $6 billion.
Next on the list is Alexey Mordashov, the chairman of Severstal steel firm. He lost over $4 billion, while Gennady Timchenko is the third hardest hit after losing $3.7 billion due to individual sanctions handed down by the US and European authorities as a response to Russia's destructive actions.
As per Bloomberg, Timchenko is a 69-year-old son of a Soviet military officer who met and befriended Putin in the early 1990s. His fortune is said to be about $16 billion, and the bulk of his wealth came from his stake at Novatek. Lastly, a close associate of Putin, who is also one of the richest people in the country, also lost around $3 billion.
Photo credit: m./Unsplash
