World Bank lowers Russia's economic forecast
Moscow
THE World Bank announced a gloomier economic forecast for Russia on Tuesday as the rouble fell despite the central bank saying it had spent billions last week to prop it up.
Falling oil prices and sanctions over the crisis in Ukraine have taken a heavy toll on Russia's economy, and the World Bank on Tuesday predicted it would shrink by 0.7 per cent in 2015. It warned, however, that the contraction would be worse if oil prices were to keep sliding.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Shell in talks to sell Malaysia fuel stations to Saudi Aramco: sources
Israel begins evacuating part of Rafah, Hamas decries 'dangerous escalation'
France’s Macron welcomes China’s Xi at Elysee Palace
Eurozone business activity grows at fastest pace in almost a year, PMI shows
China May Day holiday spending delivers mixed picture on post-Covid recovery
India's national election hits central bank with liquidity dilemma