Business

New Delhi, Mar 2 (PTI) With the Russia-Ukraine war roiling financial markets globally, the government may defer the mega IPO of LIC and wait for an opportune time to get the maximum value of its holding in the state-owned insurance behemoth, sources said.

"It's a full blown war now so we will have to assess the situation for going ahead with the LIC IPO," a government source said.

Washington, Mar 2 (AP) President Joe Biden announced Tuesday night in his State of the Union address that the US is banning Russian flights from its airspace in retaliation for the invasion of Ukraine.

The move follows similar action by Canada and the European Union this week. Biden also issued an ominous warning that without consequences, Russian President Vladimir Putin's aggression wouldn't be contained to Ukraine.

Washington, Mar 2 (AP) Moscow's war on Ukraine and the ferocious financial backlash it's unleashed are not only inflicting an economic catastrophe on President Vladimir Putin's Russia.

The repercussions are also menacing the global economy, shaking financial markets and making life more perilous for everyone from Uzbek migrant workers to European consumers to hungry Yemeni families.

Even before Putin's troops invaded Ukraine, the global economy was straining under a range of burdens: Surging inflation. Tangled supply chains. Tumbling stock prices.

01 March 2022; MEMO:As the Russian war in Ukraine continues, fears are growing in Egypt about the effect the fighting will have on its economy as it recovers from the global coronavirus pandemic.

Russian and Ukrainian tourists make up around 40 per cent of the total number of tourists who visit Egypt and numbers had already started to wane in February as news of a potential conflict played out.

01 March 2022; MEMO:Israel has rejected Ukrainian President Volodymyr Zelenskyy's request to supply his country with weapons, according to a report in Yedioth Ahronoth. The request came during a telephone conversation with Israeli Prime Minister Naftali Bennett on Friday. However, Israel has announced that two planes loaded with humanitarian aid for Ukraine are flying to Poland today.

28 Feb 2022; MEMO: Airbus AIR.PA hit back in an escalating dispute with Qatar Airways over A350 jets on Monday, asking a British judge to award $220 million in damages over two undelivered airliners, Reuters reports.

The plane maker's claim for two A350s that Qatar's national carrier has rejected comes after the airline sued Airbus for $600 million over degradation on more than 20 jets recently grounded by Qatar.

28 Feb 2022; MEMO: President Tayyip Erdogan, on Monday, repeated that Turkey could not abandon its ties with Russia or Ukraine, amid Moscow's invasion of Ukraine, adding Ankara would implement a pact on passage from its straits to prevent an escalation of the war, Reuters reports.

Kolkata, Feb 28 (PTI) Exporters on Monday said they will face more difficulties for their shipments to Russia with a decision to exclude selected Russian banks from the global financial system SWIFT as the move would hamper direct payments for goods shipped out to the CIS country.

The US along with its key allies, including the European Union and the UK, have decided to disconnect key sanctioned Russian banks from the Society for Worldwide Interbank Financial Telecommunication in response to Moscow's invasion of Ukraine.

27 Feb 2022; MEMO: A company controlled by Israeli billionaire Dan Gertler will give control of valuable mining and oil assets back to the Democratic Republic of Congo, the government said on Friday, reported Reuters.

Anti-corruption group Congo is Not for Sale (CNPAV) has previously warned the mineral-rich country would lose out on $1.76 billion in potential royalty payments from copper and cobalt mining deals if officials did not review the contracts with Gertler's group.

28 Feb 2022; MEMO: Iran yesterday announced that it will not accept any deadline set by the West to revive the 2015 nuclear agreement with world powers, Reuters reported.

The agency said Tehran also demanded that "politically motivated" claims by UN watchdog the IAEA about its nuclear work be dropped.