Search Results for: Russian

EGYPTIAN businesses are struggling to import goods due to an ongoing shortage of US dollars, while the Egyptian pound has depreciated by over half in less than a year and inflation is in the double digits. Such issues, along with tough import requirements, has pushed businesses to resort to roundabout, sometimes illicit, means to stay afloat.…

As the Nordic paint and coatings sector moves towards increasing sustainability, reducing its carbon and other emissions, including volatile organic compounds (VOCs), the region’s market is facing significant challenges. Inflation of prices for finished products is dampening demand – annual inflation in Sweden in December was 12.3%; Norway 5.9%; Denmark 7.7%; and Finland 9.1%.…

Given the constant expansion and tightening of sanctions against Russian individuals and organisations since Russia invaded Ukraine last February 24, it is no surprise that Russians have developed innovative ways to evade these sanctions. Sanction Scanner, a UK-based screening and transaction monitoring service provider highlighted how Russians have been utilising peer-to-peer exchanges of digital currencies to help conceal the beneficial owner of crypto.…

The battle between an invading Russia and Ukraine’s defenders has not just been conducted with military force – by January 23 killing 7,068 civilians, said the UN, but also in cyberspace. While lacking the sophistication of attacks carried out by Chinese threat actors, Russian cybercriminals are increasingly probing Ukrainian companies critical to the institutional stability and defence of the country, primarily active in Ukrainian cyberspace for data collection purposes, according to the Carnegie Endowment for International Peace (1): “Intelligence collection… has been the main focus of Russia’s wartime cyber operations in Ukraine”.…

THE HUNGARIAN dairy industry and supporting government officials are looking ahead to incoming financial support from the European Union (EU) now that the European Commission has approved the country’s Common Agricultural Policy (CAP) strategic plan for 2023-2027. This has cleared the way for a ЕUR8.4 billion transfer in funding from Brussels, despite the friction between the EU and the Hungarian government, led by populist right-wing Prime Minister Viktor Orbán.…

Sugar production and consumption are being targeted for spending in new national Common Agricultural Policy (CAP) plans approved by the European Commission as part of a new process to secure European Union (EU) food production funding. With EUR53 billion spent in 2022 alone, this is the EU’s largest spending programme.…

The European Union (EU) has approved its ninth package of sanctions against Russia, following the country’s invasion of Ukraine, blocking the export of technologies used to create drones and missiles being fired at Ukraine power and water plants. These are designed to create misery during the Ukraine winter – with temperatures in Kyiv already falling below zero, worsening an invasion that the UN says has killed 6,826 civilians as of December 19.…

Denmark’s largest bank Danske Bank has settled criminal cases brought against it in the USA and Denmark over allowing its Estonia branch to funnel around EUR200 billion (USD213 billion) in funds from non-residents, including from Russia, into international financial networks, with light touch AML controls.…

With the Bank of England predicting Britain will be mired in recession until 2024 H2, the country’s clothing industry has been left considering how much worse this UK slump will be because of Brexit. The central bank has been focusing on more recent challenges – saying that “high energy prices and materially tighter financial conditions” (through interest rate increases fighting inflation) “will weigh on spending”.…

Germany’s estimated 1,300 breweries are leaving the Covid-19 pandemic behind only to find themselves faced with skyrocketing energy prices and the affiliated rapid consumer price inflation. Several of large German brewery groups have already raised their prices to compensate for their past Coronavirus losses, and a second wave of price increases has recently been announced for early 2023.…