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Main events by the morning: March 20


March, 20 2024
watermark Economic news

  • Over the past three years, Russian business has lost almost a third of companies with foreign participation. Their number decreased from 29.2 to 19.3 thousand. This was the result of a massive outflow of foreign enterprises that disappeared from the register. However, those companies that have only temporarily suspended operations are still on the registration list. 


  • On the eve of the parliamentary elections in the European Union, the authorities are trying to avoid the topic of Ukraine's accession to the EU. The fears are caused by the ongoing protests of European farmers. Some officials prefer to hide the possible negative consequences for agriculture from EU enlargement at the expense of Ukraine, Moldova and the countries of the Western Balkans, which may entail significant financial injections.


  • Africa is striving for independence from Western influence. Niger has reneged on the 2012 military agreement with the United States. Local authorities claim that the agreement was imposed and does not meet the wishes of the population, and also point to a violation of U.S. diplomatic protocol.


  • The EU's plans to impose high duties on Russian grain are equivalent to a complete ban on its import. The Russian Grain Union notes that this season Russia is among the five largest grain importers in the EU. Meanwhile, the EU authorities extended the abolition of duties on imports of Ukrainian agricultural products until June 2025, despite the high probability of disruptions in the domestic market due to these measures.


  • The list of products that Microsoft will block in Russia has increased to more than 50 items. According to the promises of the corporation, the blockages will not affect individuals in the Russian Federation.


  • Emirates NBD, the largest state-owned bank in the UAE, is shutting down its activities with Russians. The bank stopped accepting payments in rubles, closed a specialized branch working with wealthy Russians, and also closed accounts with balances of $5 million and above.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.