Business

Vladimir Putin's attempts to control Russia's internet are exposed by the Ukraine war, with tech company exits threatening to isolate Russians from global information while potentially strengthening state propaganda narratives.

The UN Food and Agriculture Organization reports that the war in Ukraine could severely impact food security in Africa, Asia, and the Middle East. Ukraine and Russia, responsible for one-third of global grain exports, face agricultural disruptions that may escalate worldwide food insecurity and drive up already high international food prices.

A World Bank official highlights how Russia's invasion of Ukraine could reduce growth by a full percentage point for countries like China, Indonesia, South Africa, and Turkey. The war exacerbates existing economic challenges from the COVID-19 pandemic, including debt and inflation uncertainties.

President Biden announces complete ban on Russian oil imports as a response to Ukraine invasion, emphasizing solidarity with Ukrainian President Zelenskyy and potential economic consequences for American consumers.

Russian invasion of Ukraine has paralyzed agricultural production in the Black Sea region, known as the world's "breadbasket". With ports closed and farmers displaced, wheat exports are severely impacted, potentially causing global food shortages and price increases starting July.

Reliance Industries and Google postponed their low-cost smartphone launch planned for September 10, citing industry-wide semiconductor supply constraints. The collaboration between Reliance Telecom and Google aims to develop an ultra-affordable JioPhone, with efforts continuing to make it available during the Diwali festive season.

Senate Democrats are exploring a stock buyback tax as a potential revenue source for the $3.5 trillion spending bill. The proposal aims to generate funds without directly raising corporate tax rates, amid political tensions surrounding infrastructure financing and the 2022 midterm elections.

Toyota and Honda criticize a Democratic proposal offering a $4,500 tax incentive exclusively for union-made electric vehicles in the United States, arguing the plan discriminates against non-union auto workers and manufacturers.

The US president spoke to the Chinese president for the first time since taking office. Washington / Beijing: US President Joe Biden has spoken over...

Wall Street and European stocks decline as investors worry about economic recovery pace, COVID-19 Delta variant impact, and recent US job market data. Central bank policies and reopening economies remain key market drivers.