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The so-called "Magnificent Seven" were among the hottest stocks last year, but one wealth manager says they are "wildly overvalued" and has his sights elsewhere. The Magnificent Seven comprises Alphabet , Amazon , Apple , Meta Platforms , Microsoft , Nvidia and Tesla , which continue to be in the spotlight thanks to the buzz around artificial intelligence. Other global stocks Global stocks Dennison is betting on include Fresenius Medical Care , a German health-care company, and Kazatomprom, a Kazakhstan-headquartered producer of uranium. "It is a top position in many pension portfolios and has become a value stock because of the strong Swiss Franc," he said. Value stocks are often cheaper than so-called growth stocks and typically trade at a lower price than what the company's performance indicates.
Persons: Tariq Dennison, Dennison, he's, Russell, Chow, Fook, Tencent, Goldman Sachs, Kazatomprom Organizations: GFM Asset Management, CNBC Pro, Apple, Microsoft, Nvidia, Tesla, Nasdaq, Value, Avantis U.S, Abercrombie, Fitch, Cadence Bank, Commercial Metals, KB, Jackson Financial, Warrior, MTR Corp, Global, Dennison, Fresenius, London Stock Exchanges, U.S, Nestle, Six Swiss Exchange Locations: U.S, China, Hong Kong, Kazakhstan, Swiss
Every year in Kazakhstan, workers pull hundreds of thousands of tons of copper from below the nation’s soil. Exporting oil and metals has been the life force of this former Soviet republic’s economy for decades. Now, as the world moves toward cleaner energy and electric vehicles, nickel and other minerals have become even more valuable, kicking off a boom. China, the country’s neighbor to the east, is well positioned to capitalize. It has invested billions upgrading Kazakhstan’s rail lines ...… and new ports and other infrastructure — visible symbols that this Central Asian country is open for business.
Locations: Kazakhstan, Soviet, China
LONDON — The number of global millionaires is set to keep rising over the next five years — with the U.K. a stark outlier, according to the 2024 Global Wealth Report from UBS. Gains will be led by tech powerhouse Taiwan, where the number of millionaires is set to jump 47% on the back of the booming microchip industry and a rise in immigration by wealthy foreigners. The two hubs in which the most global millionaires are based, the U.S. and mainland China, are set to see their figures rise 16% and 8% respectively. Another country where the number of dollar millionaires is forecast to decline was the Netherlands, which is estimated to see a 4% drop in such wealthy individuals. The report meanwhile sees the number of U.S. dollar millionaires in Russia growing by 21%.
Persons: Paul Donovan, Donovan Organizations: UBS, Taiwan, UBS Global Wealth Management, Russia, Labour Party, Conservative Locations: Turkey, Kazakhstan, Indonesia, Japan, U.S, China, France, Italy, London, Dubai, Singapore, Netherlands, Russia
Russia's President Vladimir Putin and India's Prime Minister Narendra Modi walk during their meeting at the Novo-Ogaryovo state residence near Moscow, Russia July 8, 2024. Their partnership has become more complicated, however, as Russia has moved closer to China amid international isolation of Moscow over Ukraine. Russian state media reported that they would also discuss Moscow helping India build more nuclear power plants. The two countries already are collaborating on the Kudankulam nuclear power project in the southern Indian state of Tamil Nadu. With Moscow's arms industries mostly serving the Russian military in Ukraine, India has been diversifying its defense procurements, buying more from the U.S., Israel, France and Italy.
Persons: Vladimir Putin, Narendra Modi, Putin, Modi, Volodymyr Zelenskyy, Matthew Miller, Vinay Mohan Kwatra Organizations: India's, Indian, NATO, . State Department, Shanghai Cooperation Organization, India, Russian Locations: Moscow, Russia, Washington, Ukraine, China, Kazakhstan, Beijing, Russian, Kyiv, India, New Delhi, Tamil Nadu, United States, Vladivostok, Uzbekistan, U.S, Israel, France, Italy, Chennai, East
AdvertisementThe US has raised "some concerns" about India's relationship with Russia with New Delhi, Kurt Campbell, the US Deputy Secretary of State, said last month. However, Washington acknowledges that India's ties with Russia are different from its ties with the US. Make no mistake — the United States and its allies are more consequential for India's future than its relationship with Russia," wrote Shinde. India needs to leverage its historical ties with Russia to secure its economy and security, so Modi isn't just in Russia for a goodwill trip. India imports about $60 billion of goods a year from Russia, but Russia buys less than 10% of this amount from India, per Bloomberg.
Persons: , Narendra Modi, Vladimir Putin —, Vinay Kwatra, Ved Shinde, Shinde, Russia isn't, Kurt Campbell, we've, Campbell, Modi, There's, Putin Organizations: Service, Indian, Russia —, Business, Bloomberg, Australia's Lowy Institute, State, Shanghai Cooperation Organisation Locations: Russia, Delhi, Moscow, India, New Delhi, Ukraine, Europe, Vietnam, Washington, China, United States, Kwatra, Kazakhstan, Pakistan
The two leaders began their meeting at the Diaoyutai State Guesthouse Monday morning, Chinese state media reported. China is a “key power in creating the conditions for peace” in the war, Orban wrote in an X post Monday. “This is why I came to meet with President Xi in Beijing, just two months after his official visit to Budapest,” he added. Orban and Xi last met in May, when the Chinese leader was welcomed with fanfare for a state visit to Hungary. “Only unity and determination will pave the path to a comprehensive, just and lasting peace in Ukraine,” she added.
Persons: Viktor Orban, Xi Jinping, ” Orban, Xi, Orban, , Orban’s, Joe Biden, Vladimir Putin, , Ursula von der Leyen, ” Putin, Putin, Jens Stoltenberg, Volodymyr Zelensky Organizations: Hong Kong CNN, West, NATO, Shanghai Cooperation Organization, of, European Union, Putin, , Ukrainian Locations: Hong Kong, Hungarian, Beijing, Moscow, Kyiv, Russia, Ukraine, Diaoyutai, Washington, Hungary, China, Russian, Kazakhstan, Europe, Budapest,
This story has been updated to reflect Elina Svitolina’s comments in her post-match press conference at Wimbledon. WIMBLEDON — Elina Svitolina wore a black ribbon during her Wimbledon last-16 match against Wang Xiyu, after Russian missile strikes killed and injured more than 100 Ukrainians across the country this morning. “It’s a very difficult day today for Ukrainian people,” she said, before beginning to cry. Her foundation, established in 2019, has brought over 1000 young Ukrainian players into tennis coaching. When asked whether she would shake her hand at this match, Svitolina said “she changed her nationality, so it means she doesn’t want to represent her original country, so it works.”(Andrej Isakovic/AFP via Getty Images)
Persons: Elina Svitolina’s, WIMBLEDON — Elina Svitolina, Wang Xiyu, ” Svitolina, , , Okhmatdyt, Volodymyr Zelenskyy, Svitolina, Yastremska, Varvara Gracheva, Elena Rybakina, Rybakina, Andrej Isakovic Organizations: Wimbledon, WIMBLEDON, Russian, , Okhmatdyt Children’s, , All England Club, England Club, Belarusian tennis, ATP, WTA, Kazakhstan tennis, Getty Locations: England, Ukraine, Kyiv, Belarusian, Russian, France, Moscow, Kazakhstan, AFP
CNN —China and Belarus announced they were holding joint military training exercises just miles from the border of Poland – a NATO and European Union member. Belarus’ Ministry of Defense said troops from China’s People’s Liberation Army arrived in Belarus over the weekend. The exercises are taking place near the Belarus city of Brest on the Belarus-Poland border which is around 130 miles from the Polish capital of Warsaw and some 40 miles from Minsk’s border with Ukraine. Moscow partly used Belarus as a launching pad for the full-scale invasion of Ukraine in February 2022 after amassing troops on the Ukrainian border during what it said were joint military exercises. The Chinese troops arrived in Belarus just days after that country joined the Shanghai Cooperation Organization (SCO) on Thursday.
Persons: Volodymyr Zelensky Organizations: CNN, NATO, European Union, Belarus ’ Ministry of Defense, China’s People’s Liberation Army, EU, Washington , D.C, China’s Ministry of Defense, Shanghai Cooperation Organization, SCO Locations: China, Belarus, Poland, China’s, weaponizing, Washington ,, Brest, Warsaw, Minsk’s, Ukraine, Moscow, Ukrainian, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Beijing, Central Asia, United States
During his two-day visit, Modi is expected to attend a private dinner hosted by Vladimir Putin and hold talks with the Russian president, according to India’s foreign ministry spokesperson Randhir Jaiswal. Reducing the trade imbalance would be a “matter of priority” in Modi’s discussions with Putin, he added. Modi’s visit to Russia is also widely seen as the latest dent in efforts by Western leaders to cast Putin aside. Later that year, Putin did not attend the Group of 20 leaders’ summit in New Delhi, during which leaders delivered a consensus statement criticizing his invasion of Ukraine. Following his Russia trip, Modi will visit Austria in the Indian leader’s first visit to the European nation, according to his office.
Persons: CNN —, Narendra Modi, Modi, Vladimir Putin, Randhir Jaiswal, ” Jaiswal, Putin, , Jaiswal, ” Modi, , Nandan Unnikrishnan, China’s, Joe Biden Organizations: CNN, CNN — India’s, Kremlin, West . Trade, United Nations, Shanghai Cooperation Organization, SCO, Observer Research Locations: Russia, Moscow, Ukraine, China, New Delhi, India, Uzbekistan, Bhutan, Sri Lanka, Maldives, Delhi, Beijing, Kazakhstan, Soviet Union, Western, United States, Washington, Japan, Australia, , Austria
1 Iga Świątek crashed out of Wimbledon on Saturday as she suffered a shock third round loss to Kazakhstan’s Yulia Putintseva, ending her 21-match winning streak. I’m not going to make this mistake again.”Yulia Putintseva celebrates winning and reaching the fourth round. Clive Brunskill/Getty ImagesAnd though Świątek proved too powerful in the first set, Putintseva continued to break down the Pole’s game and stormed through the second to level the match. “At some point I was playing fearless,” Putintseva told reporters afterwards. Elsewhere, Novak Djokovic overcame a slow start to defeat Australia’s Alexei Popyrin 4-6 6-3 6-4 7-6 (7-3) and set up a clash against Holger Rune in the fourth round.
Persons: Świątek, Kazakhstan’s Yulia Putintseva, Putintseva, , Roland Garros, I’m, ” Yulia Putintseva, Susan Mullane, Reuters Świątek, Clive Brunskill, ” Putintseva, Jelena Ostapenko, Novak Djokovic, Australia’s Alexei Popyrin, Holger Rune Organizations: CNN, Wimbledon, Reuters, USA, Sports, Locations: Birmingham
Iga Swiatek, the world No 1 who has never won Wimbledon, has been eliminated from this year’s tournament. Up against Kazakhstan’s Yulia Putintseva, the 5ft 4in world No. 35, Swiatek was defeated 3-6, 6-1, 6-2 in a third-round match on Court 1. Back in 2019, Putintseva beat the then world No 2 Naomi Osaka at Wimbledon. Putintseva certainly looked the sharper of the two, racing around the court and rushing Swiatek, taking away her rhythm.
Persons: Iga Swiatek, Kazakhstan’s Yulia Putintseva, Swiatek, Alize Cornet, Jannik, Putintseva, Naomi Osaka, Roland Garros, craves, Jelena Ostapenko, Coco Gauff, Clive Brunskill Organizations: Wimbledon, Birmingham, All England, undercooked, Paris Olympics Locations: Paris
Armoured vehicles of the Indian army at a military camp in Eastern Ladakh on May 19, 2024. India and China have agreed to intensify efforts aimed at resolving their longstanding border issues, according to a statement by India's external affairs ministry. The Asian giants have been at loggerheads on the border issue for several decades. India and China share a 3,500 kilometer Himalayan border. Earlier this year, the U.S. had weighed in on the India-China border issue, drawing a sharp response from Beijing.
Persons: Wang Yi, Jaishankar, Wang Organizations: China's, Shanghai Cooperation Organization Locations: Eastern Ladakh, India, China, Astana, Kazakhstan, loggerheads, Ladakh, Beijing, U.S
A small crowd of mourners gathered on Friday for the funeral of the Kazakh opposition activist and YouTuber Aidos Sadykov, who was assassinated in Kyiv, Ukraine — a killing that colleagues said had cast a chill over journalists and exiles in Ukraine and the wider region. A former opposition politician and trade unionist, Mr. Sadykov, 55, lived in Ukraine after fleeing Kazakhstan, his homeland, with his family 10 years ago. He was granted political asylum in Ukraine and, with his wife, ran a widely followed YouTube Channel covering events in Kazakhstan. He was shot last month outside their home, and died of his injuries earlier this week. Natalia Sadykova, his widow and a journalist, has laid the blame for her husband’s death on President Kassym-Jomart Tokayev of Kazakhstan.
Persons: YouTuber Aidos Sadykov, Sadykov, Natalia Sadykova, Kassym Organizations: YouTube Locations: Kazakh, Kyiv, Ukraine, Kazakhstan
“Russian-Chinese cooperation in global affairs serves as a main stabilizing factor on the international stage, and we continue to further enhance it,” Putin said. China has surpassed the European Union to become Russia’s top trade partner, offering a crucial lifeline to its heavily sanctioned economy. The two nuclear-armed neighbors have also continued to hold joint military exercises, including with Iran. Both moves are widely seen as part of a broader push by Xi and Putin to create an alternative world order that is no longer dominated by the West. Xi said Wednesday that China backed Russia’s role as BRICS chair this year in uniting the Global South, preventing a “new Cold War” and opposing hegemonism, according to state-run news agency Xinhua.
Persons: Hong Kong CNN — Russia’s Vladimir Putin, Xi, Putin, ” Putin, , , ” Xi, Organizations: Hong Kong CNN, Wednesday, Shanghai Cooperation Organization, SCO, , Union, Foreign Ministry, West, China, Xinhua Locations: Hong Kong, Kazakhstan, Russia, China, Russian, Moscow, Central Asia, United States, Belarus, Ukraine, Iran, Beijing, North Korea, Europe,
CNN —Indian Prime Minister Narendra Modi will visit Moscow next week for the first time since Russia invaded Ukraine, a sign of the growing relationship between the two countries even as New Delhi maintains strong ties with the United States. Modi’s visit is widely seen as the latest dent in efforts by Western leaders to cast Putin aside. India’s ties with Russia date back decades to the Cold War and have remained strong despite repeated sanctions on Moscow from Western governments. Confirmation of Modi’s visit comes as Russia draws ever closer to China, potentially making New Delhi uncomfortable due to its longstanding Himalayan border dispute with Beijing that has simmered in recent years. But Modi’s visit is set against the backdrop of India’s growing relations with the US, as both countries share concerns over China’s assertiveness in the Indo-Pacific region.
Persons: Narendra Modi, Modi, Vladimir Putin, ” Modi’s, China –, Modi’s, Putin, Xi Jinping, , Dmitry Peskov, Kim Jong Un, China’s, Joe Biden, Gan Organizations: CNN, Indian, India’s Ministry, External Affairs, Kremlin, Russia, United Nations Security Council, Shanghai Cooperation Organization, SCO, US, North Locations: Moscow, Russia, Ukraine, Delhi, United States, India, China, Western, New Delhi, Beijing, Kazakhstan, Pyongyang, Brazil, South Africa, Washington, Japan, Australia,
Turkey's pro-Western tilt and Ukraine support have strained the Erdoğan-Putin relationship. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTurkey's President Tayyip Erdoğan has long been eyeing the role of peacemaker in Russia's war with Ukraine. Erdoğan most recently pursued this ambition again on Wednesday when he told Russian President Vladimir Putin that Ankara could help end the war, Reuters reported, citing the Turkish presidency. The two leaders were speaking on the sidelines of the Shanghai Cooperation Organisation summit in Kazakhstan, which Putin is attending in person.
Persons: Erdoğan, Putin, , Tayyip Erdoğan, Vladimir Putin Organizations: Kremlin, Service, Reuters, Shanghai Cooperation Organisation Locations: Russia, Ukraine, Turkey, Erdoğan, Ankara, Kazakhstan
Members of the Shanghai Cooperation Organization are meeting in Kazakhstan Wednesday. Russia and China are competing over influence in Central Asia. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe leaders of a club of countries touted by Russia and China as a counterweight to Western global power are meeting this week in Kazakhstan. At the Shanghai Cooperation Organization (SCO) in Kazakhstan's capital Astana, Russia's President Vladimir Putin is scheduled to meet China's President Xi Jinping.
Persons: , Vladimir Putin, Xi Jinping Organizations: Shanghai Cooperation Organization, Kazakhstan, Service, SCO, Astana, China's, Business Locations: Russia, China, Central Asia, Kazakhstan, Kazakhstan's
With Russia mired in a long war in Ukraine and increasingly dependent on China for supplies, Beijing is moving quickly to expand its sway in Central Asia, a region that was once in the Kremlin’s sphere of influence. Russia, for its part, is pushing back hard. As the leaders of Central Asian countries meet with the presidents of China and Russia this week in Astana, the capital of Kazakhstan, China’s rising presence is visible in the region. Flag-waving Kazakh children who sang in Chinese greeted Xi Jinping, China’s leader, upon his arrival in Astana on Tuesday. But as the group has expanded its membership, China and Russia have used it as a platform to showcase their ambitions of reshaping a global order dominated by the United States.
Persons: Xi Jinping, Vladimir V, Putin Organizations: Russia, Central, Shanghai Cooperation Organization Locations: Ukraine, China, Beijing, Central Asia, Russia, Astana, Kazakhstan, United States
We didn’t know whether we’d get to the end.”Record-setting journeyOllie Gamblin and Lavi Scholl have set the record for the youngest duo to circumnavigate the globe by motorbike. Keen to take things further, the couple began planning a cycling trip around the world. The couple, known as “Lavi and Ollie” were loaned a Suzuki V-Strom 1050XT by UK dealership Motorcycle World, and Gamblin says he fell over while riding out of the parking lot. “That was really, really challenging for me,” Scholl says. They plan to head off on a UK-based riding trip so that Scholl can improve her motorcycle skills.
Persons: CNN —, Lavi Scholl, Ollie Gamblin, , we’d, Oliver Gamblin, , Scholl, Gamblin, Keen, Lavi, Ollie ”, Suzuki, Strom 1050XT, Ollie, hadn't, Oliver Gamblin “, “ We’ve, ” Scholl, they’d, Elvis, ” “, Oliver Gamblin Gamblin, who’d Organizations: CNN, CNN Travel, , Las Vegas, Guinness World Records, UK, Google, Geographic, YouTube Locations: Morocco, Argentina, Mongolia, Las, Australia, New Zealand, Germany, England, London, , Russia, Ukraine, France, Spain, Senegal, Brazil, South America, Bolivia, Peru, Chile, Ecuador, Colombia, Panama, North America, Las Vegas, , Canada, Seoul, South Korea, Vladivostok, gers, Central Asia, Kazakhstan, Europe, Dover
After adding Belarus, it will boast 10 members, representing more than 40% of the world’s population and roughly a quarter of the global economy. Growing ambitionsAs the SCO grows in international visibility and economic weight, it has also broadened in geopolitical ambitions. Putin speaks to Xi at the SCO summit two years ago in Samarkand, Uzbekistan. But the Belarus membership also creates big question marks that will hang over the organization, Gill said. After the summit in Astana, China is due to take up the rotating presidency of the SCO for a year.
Persons: Xi Jinping, Vladimir Putin, Narendra Modi, Moscow’s, , , Eva Seiwert, Seiwert, Putin, Xi, Sergei Bobylev, Bates Gill, Gill, , ” Gill, Modi, they’re Organizations: Hong Kong CNN —, Shanghai Cooperation Organization, Indian, SCO, Union, Mercator Institute for China Studies, , Putin, AP, National Bureau of Asian Research, , Central, Modi, Astana –, Kremlin, Central Asia, NATO, European Union, Seven Locations: Hong Kong, China, Russia, Russian, Ukraine, Belarus, Astana, Kazakhstan, Beijing, Moscow, United States, Iran, Kyrgyzstan, Tajikistan, Uzbekistan, India, Pakistan, Afghanistan, Mongolia, Myanmar, Turkey, Berlin, , Eurasia, Samarkand, Central Asia, New Delhi, Soviet, Xi’an
The purpose of the network was to smuggle people, not bring in terrorists, one of the officials said. There was specific “derogatory information” linking those individuals to ISIS, the official said. In the latest case, the 400 migrants under scrutiny – mostly from Central Asian nations – are being screened purely because of their connection to the human smuggling network. The leadership of ISIS-K is mainly made up of Tajik nationals and the group has recruited from both countries. Tajik nationals have carried out a series of recent attacks in Europe on behalf of the group, including the Crocus Hall attack in Moscow in March that killed more than 100 people.
Persons: Alejandro Mayorkas, , Mayorkas, CNN’s Evan Perez Organizations: CNN, Department of Homeland Security, ISIS, Central, Homeland, NBC News, Crocus, US, MSNBC Locations: Central, Tajikistan, Uzbekistan, Europe, Moscow, United States, Kazakhstan
Russian Defence Minister Sergei Shoigu attends a meeting held by defence ministers of the Shanghai Cooperation Organisation (SCO) in Astana, Kazakhstan, April 26, 2024. The International Criminal Court issued arrest warrants for Sergei Shoigu, the former Russian defence minister, and leading Russian general Valery Gerasimov on Tuesday for alleged crimes committed during Russia's invasion of Ukraine. In a press release, the court said judges had found there were "reasonable grounds to believe that the two suspects bear responsibility for missile strikes carried out by the Russian armed forces against the Ukrainian electric infrastructure from at least 10 October 2022 until at least 9 March 2023". The Russian officials were suspected of having committed war crimes and crimes against humanity for directing attacks against civilians and civilian objects in Ukraine. Russia, which like Ukraine is not a member of the ICC, has repeatedly said Ukraine's energy infrastructure is a legitimate military target and denies targeting civilians or civilian infrastructure.
Persons: Sergei Shoigu, Valery Gerasimov Organizations: Russian, Shanghai Cooperation Organisation, ICC Locations: Astana, Kazakhstan, Russian, Ukraine, Russia
In Dagestan, Russian security forces fought an Islamist insurgency in the mountainous region in the 2000s that spilled over from neighboring Chechnya, though attacks have become rarer in recent years. Russian President Vladimir Putin attends a meeting with his election campaign confidants at the Kremlin in Moscow, Russia March 20, 2024. ISIS-K attack on music venueThe coordinated attacks in Dagestan come just weeks after Russia suffered its worst terror attack in decades. For a leader who has long promised security and stability to Russians, the major attack on Russian soil was another powerful blow. In the aftermath of the March attack, Putin called for Russia to remain united.
Persons: Vladimir Putin’s, Putin, Ramzan Kadyrov, Jill Dougherty, Vladimir Putin, confidants, Evgenia Novozhenina, Bashar al, Assad, Prince Mohammed bin Salman, Benjamin Netanyahu, Organizations: CNN, ISIS, Ukraine grinds, Russian Jewish Congress, Attackers, TASS, Russian Federation, Soviet, Hamas, Makhachkala Uytash Airport, Kremlin, Reuters, Saudi, Israeli, Central, Migrants, Kazakhstan — Locations: Russia, Russia’s, Dagestan, Moscow, Derbent, Makhachkala –, Makhachkala, Russian, Republic of Dagestan, Russia’s Caucasus, Caucasus, Soviet Union, Chechnya, , Grozny, Ukraine, , Gaza, Israel, CNN Moscow, Reuters Russia, Iran, Soviet, Tajikistan, Uzbekistan, Kyrgyzstan, Turkmenistan, Kazakhstan
In this case, my mission was personal: I was seeking records in Altay’s Civil Affairs Bureau on my father’s service in a Chinese army unit six decades earlier. I knew police officers would soon be trailing me, as they did whenever foreign journalists turned up in Xinjiang. President Xi Jinping had begun enacting much harsher policies in the region, home to Uyghur and Kazakh Muslims. I knew that finding anything about my father, Yook Kearn Wong, was a long shot. I asked her if she knew anything about an old army base of mostly Kazakh cavalry soldiers, where my father and a few other ethnic Han soldiers had served in 1952.
Persons: Xi Jinping, Yook Kearn Wong, Wei Yangxuan Organizations: The New York Times, Altay’s Civil, Bureau, Civil Affairs Bureau Locations: Altay, China’s, Xinjiang, Russia, Mongolia, Kazakhstan, Beijing, Kazakh
The latest batch of US sanctions against Russia will promote further use of the yuan, a think tank said. It argued that as ruble volatility increases, the Chinese currency will offer stability. While sanctions also threaten Chinese entities, they won't be enough to disrupt yuan trading, it said. AdvertisementFresh sanctions on Russia are too late to be a game-changer, but they will help cement the role of China's yuan in place of Western currencies, a think tank said. "In May, its share in exchange trading once again hit a new record, reaching 53.6 percent.
Persons: , Alexandra Prokopenko, Prokopenko Organizations: Russia, Service, Carnegie, Carnegie Russia Eurasia Center, Kremlin Locations: Russia, Carnegie Russia, Moscow, Beijing, Kazakhstan, UAE
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