Operational downturn // Economy accelerates contraction amid mounting uncertainty

The contraction of the Russian economy is accelerating. According to the Ministry of Economy, in June, GDP contracted by 4.9% in annual terms after a decline of 4.3% in May and 2.8% in April 2022, and in the first half of the year the economy shrank by 0.5%. The output of goods and services by … Read more

Huobi CFO: Crypto market downturn creates arbitrage opportunities

Fernando Gutierrez-Juarez/dpa/Globallookpress On June 14th, crypto markets plummeted due to the effects of the Celsius platform suspending customer withdrawals and the subsequent drop in the price of CEL tokens. As of 15:00 Moscow time, the price of bitcoin was hovering around $22,300, while the price of ethereum was about $1,200. Commenting on the fall of … Read more

Siluanov expects economic downturn in 2022 to be less than previous forecasts

Russian Finance Minister Anton Siluanov said that the actions taken by the Russian authorities to support the economy suggest that its decline in 2022 will be lower than planned. He said this in an interview with the Chinese TV channel CGTN. He noted that while the Ministry of Finance predicts a fall of 8%. He … Read more

Bill Gates expects a global economic downturn due to the situation in Ukraine

Rising interest rates around the world could lead to a global economic slowdown, says billionaire Bill Gates. He cited the Russian military operation in Ukraine, as well as the consequences of the coronavirus pandemic, as the reason for a possible economic downturn. According to Mr. Gates, the situation in Ukraine has already led to a … Read more