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☆ Turkmenistan rebukes Russia over 'gas union' comments
▼ + stars: | 2023-08-12 | by ( ) www.reuters.com time to read: +2 min

A 3D printed natural gas pipeline is placed in front of displayed Turkmenistan flag in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/File PhotoASHGABAT, Aug 12 (Reuters) - Turkmenistan warned Russia on Saturday against trying to extend its influence over the Central Asia-China natural gas supply chain after Moscow said more countries could join its "gas union" with Kazakhstan and Uzbekistan. Turkmenistan, Uzbekistan and Kazakhstan all pump gas to China via a pipeline crossing the three countries; the lion's share of gas comes from Turkmenistan as the two other countries have faced strong growth in domestic gas demand. Russia, trying to open up new Asian markets for its gas after Western sanctions, said last year it was forging a gas union with Kazakhstan and Uzbekistan that would streamline shipping and exporting gas to them and to third parties. Russia's foreign ministry said this week the gas union could be expanded as other countries were interested in joining it; it did not name any.

Persons: Dado, Marat Gurt, Olzhas, David Evans Organizations: REUTERS, Central, Gazprom, Thomson Locations: Turkmenistan, ASHGABAT, Russia, Central Asia, China, Moscow, Kazakhstan, Uzbekistan, Ashgabat

☆ Insight: What happens when a $2 million gene therapy is not enough
▼ + stars: | 2023-08-12 | by ( Deena Beasley | ) www.reuters.com time to read: +13 min

Their experience raises broader questions around other high-cost gene therapies coming to market, sometimes after accelerated regulatory approvals, drug pricing experts said. Gene therapies work by replacing genes – the body's blueprint for its development. The gene Zolgensma delivers instructs the body to make a protein vital for muscle control. If gene therapies do fall short, it becomes harder to justify prices that researchers have argued are already poor value. More recently, the first hemophilia gene therapy approved by the U.S. Food and Drug Administration was priced by CSL Behring at $3.5 million; 26 more gene therapies are in late-stage development, according to IQVIA.

Persons: Elizabeth Kutschke, Ben, Zolgensma, Ben Kutschke, neurologists, Sitra Tauscher, Wisniewski, Ben's, Roger Hajjar, Brigham Gene, Kutschke, Vasant Narasimhan, Stacie Dusetzina, Roche's, Biogen, Roche, Maha Radhakrishnan, Steven Pearson, It's, Sree Chaguturu, Amanda Cook, Weston, Jackson, Cook, Elizabeth, Jerry Mendell, Russell Butterfield, –, Biogen's, Mendell, UMR, Spinraza, Eric Cox, Caroline Humer, Sara Ledwith Organizations: Reuters, U.S, Novartis, IQVIA Institute, Human Data, Novartis Gene Therapies, Mass, Cell Therapy, U.S . Food, Drug Administration, CSL Behring, CSL, Nashville's Vanderbilt University School of Medicine, Clinical, Economic, CVS Health, Aetna, SMA, Nationwide Children's Hospital, University of Utah Health, Children's, UnitedHealth, Thomson Locations: Oak Park, Berwyn , Illinois, Swiss, U.S, Lebanon , Virginia, United States, Columbus , Ohio, Russia, Kazakhstan, Chicago

☆ Arkady Volozh: Co-founder of Yandex, Russia's Google equivalent, slams 'barbaric' invasion of Ukraine
▼ + stars: | 2023-08-10 | by ( ) edition.cnn.com time to read: +2 min

The co-founder of Russian internet giant Yandex, Arkady Volozh, on Thursday condemned what he described as Moscow’s “barbaric” invasion of Ukraine, days after criticism in Russia over his apparent efforts to distance himself from the country. He has also been criticized by those opposed to Russia’s actions for not speaking out more forcefully against the war. “Russia’s invasion of Ukraine is barbaric, and I am categorically against it,” Volozh said in a statement. Volozh developed Yandex (YNDX) in Russia, creating the country’s largest tech company and its leading search engine. Volozh called the EU’s decision “misguided.”Yandex is pursuing a corporate restructuring that should ultimately see its main revenue-generating businesses inside Russia spun off from its Dutch-registered parent company, Yandex NV.

Persons: Arkady Volozh, Volozh, ”, ” Volozh, “, —, Yandex Organizations: European Union, Yandex NV, Nasdaq Locations: Ukraine, Russia, Kazakhstan, Ukraine —, Israel, Moscow

Arkady Volozh, Co-Founder and Chief Executive Officer of Yandex Group of Companies, attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia June 7, 2019. REUTERS/Maxim Shemetov/File PhotoAug 10 (Reuters) - The co-founder of Russian internet giant Yandex (YNDX.O), Arkady Volozh, on Thursday condemned what he described as Russia's "barbaric" invasion of Ukraine, days after criticism in Russia over his apparent efforts to distance himself from the country. "Russia's invasion of Ukraine is barbaric, and I am categorically against it," Volozh said in a statement. Volozh developed Yandex in Russia, creating the country's largest tech company and ultimately taking it public on the U.S. Nasdaq stock exchange in 2011. Since Russia invaded Ukraine in February 2022, Yandex has sought to balance domestic pressure on one side with its Western investors on the other.

Persons: Arkady Volozh, Maxim, Volozh, –, Yandex, Alexander Marrow, Jason Neely Organizations: Yandex, of Companies, St ., Economic, REUTERS, U.S, Nasdaq, European Union, Thomson Locations: St, St . Petersburg, Russia, Ukraine, Kazakhstan, Ukraine –, Israel, Yandex

☆ House Oversight GOP claims they don’t need to find direct payments to Joe Biden to prove corruption in Hunter Biden business dealings memo
▼ + stars: | 2023-08-09 | by ( Annie Grayer | ) edition.cnn.com time to read: +7 min

“President Biden’s defenders purport a weak defense by asserting the Committee must show payments directly to the President to show corruption,” the House Oversight Republicans wrote. “It appears no real services were provided other than access to the Biden network, including Joe Biden himself. Even though Hunter Biden was not directly involved, House Oversight Republicans are attempting to show how a portion of the $3.5 million was transferred into multiple accounts until it entered an account connected to Hunter Biden. In a 2020 Senate report, Republicans revealed the existence of the payment from Baturina to a company tied to Hunter Biden’s business associates. The memo focuses on deals and transactions Hunter Biden made with foreign oligarchs and leaders in Russia, Ukraine and Kazakhstan.

Persons: Joe Biden, Hunter, Biden’s, ” Hunter Biden, Republicans –, Donald Trump –, Biden, “, Ian Sams, ”, Jamie Raskin, Trump’s, Hunter Biden, Joe Biden’s, James Comer, Devon Archer, Archer, Yelena Baturina, Café, –, ” Archer, Hunter Biden’s, Comer Organizations: CNN, “, Republicans, Biden Administration, White, House Republicans, Democrat, Democratic, “ Republicans, Republican, Burisma, Café Milano Locations: Maryland, Kazakhstan, Russia, Ukraine, Kentucky, Ukrainian, Burisma

☆ Top economist Paul Krugman says food inflation has mostly been caused by Russia
▼ + stars: | 2023-08-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Food inflation has mostly been brought on by Russia, top economist Paul Krugman said. The Nobel laureate pointed to accelerating food prices over the past year, with the Food and Agriculture Organization's Food Price Index rising to 123.9 in July. But the primary driver of "foodflation" exists outside of the US -- and lies largely in the hands of Russia, Krugman argues. Russia's invasion of Ukraine also spiked fertilizer prices, as the nation is one of the world's largest exporter of fertilizer. Still, Russia's impact is still "at the top of the list" for culprits driving food inflation.

Persons: Paul Krugman, Vladimir Putin, Krugman, Biden, That's, Putin Organizations: Service, Soaring, Food, Agriculture, That's, Observers, Cleveland Fed Locations: Russia, Ukraine, Wall, Silicon, Kazakhstan, Odesa, Europe

☆ The wartime economy is making Russians hoard cold hard cash more than ever — the money in circulation reached a record $187 billion in June
▼ + stars: | 2023-08-08 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

In June, the amount of cash in circulation in Russia hit a record $187 billion, per its central bank. Russians are hoarding cold, hard cash amid economic uncertainty, an economist told Novaya Gazeta. Compensation to families of dead fighters and increased demand in Russian-occupied Ukrainian regions also add to the cash in circulation. In June, the amount of cash in circulation in Russia hit a record 17.9 trillion rubles, or $187 billion, data from the Russian central bank shows. To tame inflation, the Russian central bank its central bank raised interest rates by one percentage point on July 21 — double the 0.5 percentage point analysts polled by Reuters had expected.

Persons: Igor Lipsits, there's, Alexey Zabotkin, Wagner, Nikolay Korzhenevsky Organizations: Novaya Gazeta, Service, HSE University, RBC, Wagner Group, Bloomberg, Reuters Locations: Russia, Wall, Silicon, Russian, Ukraine, —, Kazakhstan, Russia's

☆ Opinion | Why Are Groceries So Expensive?
▼ + stars: | 2023-08-08 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

For example, a White House blog post on grocery prices cited, among other things, “pandemic-induced shifts in food demand from restaurants to groceries.” This is a version of the toilet-paper problem. Part of the issue was that the toilet paper sold in stores is different from the toilet paper sold to businesses and restaurants, and when millions of people suddenly began staying home, the industry temporarily found itself producing the wrong kind of stuff. Also, getting food into your shopping cart involves a number of costs over and above the price of food commodities. If it were, we wouldn’t have seen egg prices come down as fast as they went up. But what caused that global food spike?

Organizations: Kazakhstan Locations: Ukraine, Soviet Union, Russia

☆ China's embassy to Russia criticises treatment of citizens at border
▼ + stars: | 2023-08-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas Peter/Pool/File PhotoAug 5 (Reuters) - China's embassy in Russia criticised the treatment of five Chinese citizens who were refused entry into Russia, calling the treatment inconsistent with the overall friendly relations between the two countries. The five, attempting to drive into Russia from Kazakhstan late last month, were refused entry after four hours of examination and had their visas cancelled, the embassy said on its WeChat social media account on Friday. The embassy met with Russia's foreign ministry and border agencies, "clearly pointing out that the brutal and excessive law enforcement by Russia in this incident seriously damaged the legitimate rights and interests of Chinese citizens," the post said. The embassy cited statements by Russian officials that Russia welcomes and does not have discriminatory policies against Chinese citizens, as well as that the destination on their visa application of the five Chinese did not match their actual destination. Reporting by David Kirton in Shenzhen; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Mikhail Mishustin, Thomas Peter /, Xi Jinping, Vladimir Putin, Putin, David Kirton, William Mallard Organizations: Russian, of, REUTERS, Russia, Saudi, Thomson Locations: Beijing, China, Russia, Kazakhstan, Moscow, Ukraine, Saudi Arabia, Kyiv, Shenzhen

☆ Russia's so desperate for soldiers that it's offering a $5,200 sign-on bonus to recruit from neighboring Kazakhstan
▼ + stars: | 2023-08-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The Russian military is trying to recruit from neighboring Kazakhstan amid a manpower crunch, per Reuters. It's offering a $5,200 sign-on bonus, a salary of at least $2,000, and other benefits to Kazakh recruits. Russia's economy is also facing a manpower crunch amid the Ukraine war. However, the Kazakh government has not supported Russia's war in Ukraine and has urged for peace. The surveys found 42% of Russian industrial enterprises experienced a manpower crunch in July.

Persons: It's, Vladimir Putin's, Putin Organizations: Reuters, Service, Kazakhstan —, RBC, Gaidar Institute for Economic Policy Locations: Kazakhstan, Ukraine, Wall, Silicon, Russia, Moscow, Russian, Soviet, Kazakh, Sakhalin

☆ Russia targets neighbour Kazakhstan with army recruitment ads
▼ + stars: | 2023-08-03 | by ( Filipp Lebedev | ) www.reuters.com time to read: +2 min

Kazakhstan, a former Soviet republic bordering Russia, is home to over 3 million ethnic Russians and has traditionally been one of Russia's closest allies. Clearly targeting Kazakhs, ads seen by Reuters feature Russian and Kazakh flags and the slogan "Shoulder to shoulder". The ads lead to a website that offers potential recruits a chance to join the Russian army in the Sakhalin region in Russia's Far East. Joining military conflicts abroad for pay is illegal under Kazakh law. In Kyrgyzstan, a local man was sentenced to 10 years in prison in May for joining Russian proxy forces in Ukraine's Luhansk region.

Persons: Russia's, Wagner, Mariya Gordeyeva, Gareth Jones Organizations: Russian, Astana, Moscow, Reuters, Human Capital Development Agency of, Kazakhstan's Ministry of Information, Social Development, Soviet Central, Thomson Locations: Kazakhstan, Soviet, Russia, Ukraine, Kazakh, Russian, Sakhalin, Russia's Far, Lysychansk, Tajikistan, Kyrgyzstan, Ukraine's Luhansk, Moscow, Bishkek

☆ Top banks made $6 billion trading the ruble last year amid Western exodus from Russia, report says
▼ + stars: | 2023-08-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Wall Street reaped billions from ruble trading in the Ukraine war's first year, Bloomberg reports. Banks would buy dollars cheaply and sell them at a markup to Western firms fleeing Russia. Western banks turned to lesser-known peers in countries on good terms with Russia, such as Kazakhstan and Armenia. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Lenders involved in the ruble trade and those that steered clear of it declined to comment to Bloomberg.

Persons: Banks, Vali, Goldman Sachs, JPMorgan Chase, Vladimir Putin, June's Wagner Organizations: Ukraine war's, Bloomberg, Service, Citigroup, JPMorgan, Wall Street Locations: Ukraine, Russia, Kazakhstan, Armenia, Wall, Silicon

☆ Britain agrees deals on clean energy, critical minerals with Zambia
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Alaa Al SukhniLONDON, Aug 3 (Reuters) - Britain on Thursday said it had agreed deals with Zambia on clean energy and critical minerals as foreign minister James Cleverly ends a four-day visit to Africa to deepen ties. "The UK-Zambia Green Growth Compact and our landmark agreement on critical minerals will support investment between UK and Zambian business, creating jobs in both countries," Cleverly said. Zambia is a major copper producer, and also has deposits of critical minerals such as cobalt, manganese and nickel. Last year Britain emphasised the importance of diversifying its supply chains in a critical mineral strategy. Britain has agreed to deepen collaboration on critical minerals with other countries such as the United States, Japan, Australia, Kazakhstan and Saudi Arabia.

Persons: James, Ayman Safadi, Sukhni, Alistair Smout, William James Our Organizations: British, Jordan's, REUTERS, Sukhni LONDON, Thomson Locations: Amman, Jordan, Britain, Zambia, Africa, Niger, Zambian, United States, Japan, Australia, Kazakhstan, Saudi Arabia

☆ EU sees 'no immediate risks' if Niger cuts uranium supplies
▼ + stars: | 2023-08-01 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +2 min

REUTERS/Yves Herman/File PhotoBRUSSELS, Aug 1 (Reuters) - EU nuclear agency Euratom said on Tuesday it saw no immediate risk to nuclear power production in Europe should Niger cut its deliveries of uranium. It said utilities in the bloc had enough uranium inventories to fuel its nuclear power reactors for three years. "If imports from Niger are being cut, there are no immediate risks to the security of nuclear power production in the short term," said Euratom. Euratom said that in 2022 Niger delivered 2,975 tU of natural uranium, or 25,4% of the EU's supplies. The agency said natural uranium equivalent in inventories owned by EU utilities last year totalled 35,710 tU, compared to average annual consumption of around 12,500 tU.

Persons: Yves Herman, Euratom, Gabriela Baczynska, Andrew Gray, Ed Osmond Organizations: European Commission, REUTERS, EU, Reuters, European Union, European, Canada, Thomson Locations: Brussels, Belgium, BRUSSELS, Europe, Niger, African, France, Kazakhstan, Canada, Australia, Namibia

☆ The BRICS are better off disbanding than expanding
▼ + stars: | 2023-07-31 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

(South Africa wasn’t on his list.) O’Neill likes to tease the BRICS that their economic performance subsequently went downhill - particularly after the much smaller South Africa joined in 2011. Since then, Russia, Brazil and South Africa have all struggled economically. The fault line between India and China, which fought a small war in the Himalayas in 2020, is one reason the BRICS club has done so little. Besides, most developing countries don’t want to be forced to choose sides in a showdown with the United States.

Persons: Jim O’Neill, Goldman Sachs, O’Neill, Vladimir Putin, Peter Thal Larsen, Thomas Shum Organizations: Reuters, Africa wasn’t, Reuters Graphics Reuters, New Development Bank, Bank, Global, U.S ., Thomson Locations: TINOS, GREECE, Brazil, Russia, India, China, South Africa, Johannesburg, Africa, Africa’s, Saudi Arabia, Argentina, Egypt, Iran, Cuba, Kazakhstan, United States, Iraq, Republic, Ukraine, Russian, New Delhi, Soviet, Philippines, Mexico, Indonesia, Thailand, Nigeria, Vietnam, Malaysia, Bangladesh

☆ Chevron expects annual production at low-end of guidance
▼ + stars: | 2023-07-28 | by ( Sabrina Valle | ) www.reuters.com time to read: +3 min

REUTERS/Brendan McDermid/File PhotoCompanies Chevron Corp FollowJuly 28 (Reuters) - Chevron Corp (CVX.N) on Friday said that its annual oil and gas production should stay near the low-end of the oil major's guidance due to unexpected stoppages in Canada and Thailand operations. For the current quarter, Chevron said it was expecting upstream turnarounds and downtime to reduce production by about 110,000 boepd. Chevron expects TCO's expanded operations, which are 98% complete, to deliver more than 1 million boepd in 2025, and to pump about 1.1 million boepd from the Permian by mid-decade. Its Permian production rose 5% from the first quarter to a record of 772,000 boepd, on track with its full-year guidance, the company said. 2 U.S. oil company also expects Permian output in the third quarter to be roughly flat before growing again in the fourth quarter.

Persons: Brendan McDermid, Michael Wirth, Wirth, We've, Sabrina Valle, Arunima Kumar, Mrinalika Roy, Shinjini Ganguli, Anil D'Silva, Marguerita Choy Organizations: Chevron, New York Stock Exchange, REUTERS, Companies Chevron Corp, Chevron Corp, Thomson Locations: New York City, U.S, Canada, Thailand, Tengizchevroil, Kazakhstan, Russia, East, Argentina, Houston, Bengaluru

☆ Factbox: Uranium mines in Niger, world's 7th biggest producer
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +2 min

Niger is the world's seventh-biggest producer of uranium, according to the World Nuclear Association (WNA). Below are details of Niger's uranium deposits and mines:PRODUCTIONNiger, which has Africa's highest-grade uranium ores, produced 2,020 metric tons of uranium in 2022, about 5% of world mining output, according to the WNA. Niger has one major mining operation in the north operated by France's state-owned Orano, another major mine which closed in 2021, with one under development. French nuclear power plants source less than 10% of their uranium from Niger, Orano added. IMOURARENThis deposit about 50 miles south of Arlit contains one of the largest reserves in the world, according to Orano.

Persons: Mohamed Bazoum, Orano, Eric Onstad, Nick Macfie Organizations: Niger, World Nuclear Association, Somair, Arlit, Thomson Locations: Niger, Kazakhstan, Canada, Namibia, Arlit, Orano, Niger's, Akokan

CNN —An Iranian chess player, who competed in an international tournament without wearing a hijab, has been granted Spanish nationality, Spain’s Minister of Justice announced on Tuesday. Sara Khadem, also known as Sarasadat Khademalsharieh, competed in the FIDE World Rapid and Blitz Chess Championships in Almaty, Kazakhstan, in December 2022. Khadem was one of a number of sportswomen to appear at a sporting event without a hijab since anti-government protests erupted in September last year, sparked by the death of Mahsa Amini. Spain’s Minister of Justice, Pilar Llop, said that there were “exceptional circumstances” in Khadem’s situation, announcing that the country’s Council of Ministers granted her “Spanish nationality through a naturalization letter.”The chess player met with Spanish Prime Minister Pedro Sánchez in January, who said that he was “inspired” by Khadem. “How much I have learned today from a woman who inspires me, the Women’s Chess Grandmaster Sara Khadem,” Sánchez tweeted.

Persons: Sara Khadem, Khademalsharieh, Khadem, Mahsa, Pilar Llop, Pedro Sánchez, ” Sánchez, ” Organizations: CNN, Justice, FIDE, Reuters, country’s, Ministers, Spanish Locations: Iranian, Spanish, Almaty, Kazakhstan, Iran, Spain

☆ How Russia’s youth see their lives and their future
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +5 min

Some spoke of study plans and jobs upended, others, of fear of an unknown and unpredictable future. But none of the four said there was much they could do to influence Russia's direction. Instead, as one young man put it, there was nothing to do but adjust to a new reality and "carry on." I plan to study a master's course in China…I think they are very interesting people, an interesting nation. I can't change and fix everything in the country, so I'm forced to come to terms with it, get used to it, and move forward.

Persons: Vladimir Putin, Sabina, Maxim Lukyanenko, let's, Konstantin Konkov, on.Ivan Sokolov, William Maclean Organizations: Kremlin, Moscow's Higher, of Economics, Higher School of Economics, Moscow State University, Reuters, Thomson Locations: MOSCOW, Russian, Ukraine, Russia, Abkhazia, Georgia, universit, Finland, Krasnodar, Europe, Asia, China, Moscow, Kazakhstan, Astrakhan, Atyrau

☆ Iranian chess player who removed hijab gets Spanish citizenship
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

MADRID, July 26 (Reuters) - An Iranian chess player who moved to Spain in January after she competed without a hijab and had an arrest warrant issued against her at home has been granted Spanish citizenship, Spain said on Wednesday. Laws enforcing mandatory hijab-wearing became a flashpoint during the unrest that swept Iran when a 22-year-old Iranian-Kurdish woman, Mahsa Amini, died in the custody of the morality police in mid-September. The 26-year-old has told Reuters she had no regrets over her gesture in support of the protest movement against her country's clerical leadership. Spain's official gazette said the cabinet approved granting Khadem citizenship on Tuesday "taking into account the special circumstances" of her case. Reporting by Emma Pinedo; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: Sarasadat, Sara Khadem, Mahsa Amini, Emma Pinedo, Alison Williams Organizations: FIDE, Reuters, Thomson Locations: MADRID, Iranian, Spain, Spanish, Kazakhstan, Iran

☆ Cuban high jump king Sotomayor holds onto crown after 30 years
▼ + stars: | 2023-07-25 | by ( Nelson Acosta | ) www.reuters.com time to read: +2 min

[1/5] Cuba's high jump king and international idol Javier Sotomayor reacts during an interview beside a sculpture of himself leaping over the bar at his Restaurant & Bar in Havana, Cuba, June 20, 2023. REUTERS/Alexandre MeneghiniHAVANA, July 25 (Reuters) - Records are made to broken, world high jump king and international idol Javier Sotomayor said, smiling behind dark glasses as the fierce Caribbean sun beat down on Havana's Pan-American Stadium. At 55 years old, however, the lanky, unassuming Cuban athlete is now celebrating the third decade that his record-breaking 2.45-metres leap over the outdoor high jump bar in Salamanca, Spain, in 1993, remains unmatched. Including his prior 2.43m indoor world record in Budapest five years earlier, Sotomayor counts 35 years as world record holder, though the weather-sensitive outdoor title carries more weight internationally. Sotomayor first hurled himself to the world's top high jump spot in 1988, before beating this with a 2.44m spring in San Juan, Puerto Rico, the following year.

Persons: Javier Sotomayor, Alexandre Meneghini HAVANA, Sotomayor, Sweden's Patrik Sjoberg, Igor Paklin, Charles Austin, Ukraine's Bogdan Bondarenko, Jaxier, Jose Godoy, Nelson Acosta, Sarah Morland, Ken Ferris Organizations: Bar, REUTERS, Reuters, Thomson Locations: Havana, Cuba, Cuban, Salamanca, Spain, Budapest, San Juan , Puerto Rico, Brussels, New York

☆ Hundreds of thousands of people fled Russia after it invaded Ukraine — and now the countries that took them in are seeing a boost in their economies
▼ + stars: | 2023-07-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Scores of Russians fled their homeland following the outbreak of the Ukraine war. The growth of such countries surged in 2022 after the arrival of these Russians, per a new report. About six months later, there was another wave of departures after Russian President Vladimir Putin ordered a partial military mobilization for the Ukraine war on September 21. Armenia — once known as the Silicon Valley of the Soviet Union — saw its 2022 growth spike to 12.6%, per the World Bank. Meanwhile, Georgia's GDP jumped by 10.1% in 2022, per the World Bank, beating an 8.8% growth forecast.

Persons: —, Insider's Jason Lalljee, Vladimir Putin, Georgia —, Armenia —, Soviet Union —, Suren, Martin Galstyan, Oleg Itskhoki Organizations: Service, Reuters, Kremlin, Novaya Gazeta, World Bank, Bank, Armenian State University of Economics, Georgia's, University of California, Bloomberg Locations: Ukraine, Armenia, Georgia, Kyrgyzstan, Wall, Silicon, Russia, Caucasus, Azerbaijan, Soviet Union, IT, outpacing, Turkey, Kazakhstan

☆ Chevron's $6 billion second-quarter profit tops analysts' outlook
▼ + stars: | 2023-07-23 | by ( Sabrina Valle | ) www.reuters.com time to read: +2 min

In a rare preview of its results that coincided with the announced retirement of its finance chief, Chevron disclosed a $6 billion net profit in the quarter ended June 30. While that profit is almost half of the record profit in the same period last year, the $3.08 a share adjusted profit beat Wall Street's $2.97-a-share consensus estimate. "The macro price environment has softened a little bit versus the first quarter," Wirth said in an interview outlining changes to the company's financial and operating executive team. Chevron's oil and gas production in the Permian Basin, the top U.S. shale field, hit 772,000 barrels a day. Wirth signaled the company is still open to M&A deals and to increasing shareholder distributions.

Persons: Michael Wirth, Wall, " Wirth, Wirth, We've, Sabrina Valle, Chris Reese Organizations: Chevron, PDC Energy, Thomson Locations: U.S, Kazakhstan, DJ, Houston

☆ Russia and Iran's 'unprecedented' military ties worried the US, but it's starting to look like Russia can't hold up its end of the deal
▼ + stars: | 2023-07-23 | by ( Paul Iddon | ) www.businessinsider.com time to read: +8 min

Iran has supported Russia by providing it with arms to use in Ukraine. Kirby said "support is flowing both ways," with Moscow providing Tehran "an unprecedented level of military and technical support." As part of this burgeoning partnership, Iran expected to receive an unspecified number of Russian Su-35 jets, along with helicopters and even advanced S-400 air-defense systems. REUTERS/FARS NEWS/Ali ShayeganWhile Iran has never armed Russia to the extent it has in recent months, Moscow has sold Tehran considerable military hardware in the past. Paul Iddon is a freelance journalist and columnist who writes about Middle East developments, military affairs, politics, and history.

Persons: John Kirby, Kirby, Russian Su, Saeed Azimi, Hassan Rouhani, Azimi, Putin, Alexei Nikolsky, Abu, Russia's, Richard Moore, Ali Shayegan, haven't, Tehran weren't, Iranian Su, ATTA KENARE, Moore, William Burns, Burns, Paul Iddon Organizations: Service, National Security, Iranian MiG, Army Day, REUTERS, Sputnik, Gulf Cooperation Council, United Arab, GCC, Intelligence Service, Tehran, Soviet Union, Getty, UN, CIA Locations: Iran, Russia, Ukraine, Russian, Moscow, Tehran, Wall, Silicon, Iranian, Egypt, Aktau, Kazakhstan, Kremlin, United Arab Emirates, Abu Musa, Greater Tunb, Persian, Hormuz, British, UAE, FARS, Iraq, Soviet, Islamic Republic, AFP

☆ Algeria applies to join BRICS, would contribute $1.5 billion to group bank
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

TUNIS, July 21 (Reuters) - Algeria has applied to join the BRICS group and submitted a request to become a shareholder member of BRICS Bank with an amount of $1.5 billion, Ennahar TV quoted Algerian President Abdelmadjid Tebboune as saying. It added that Tebboune said at the end of his visit to China that Algeria had sought to join the BRICS to open new economic opportunities. The BRICS group of nations comprises Brazil, Russia, India, China, and South Africa. "We officially applied to join the BRICS group, we sent a letter asking to be shareholder members in the bank ... Algeria's first contribution in the bank will be $1.5 billion," Ennahar quoted Tebboune as saying. China will invest $36 billion in Algeria across sectors including manufacturing, new technology, the knowledge economy, transport, and agriculture, local media quoted Tebboune as saying this week.

Persons: Abdelmadjid Tebboune, Tebboune, Algeria's, Ennahar, Tarek Amara, Louise Heavens, Alison Williams Organizations: BRICS Bank, United Arab, Democratic, Thomson Locations: TUNIS, Algeria, China, North Africa, Brazil, Russia, India, South Africa, South, Argentina, Iran, Saudi Arabia, United Arab Emirates, Cuba, Democratic Republic of Congo, Comoros, Gabon, Kazakhstan

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