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“Russian Ruble Gains Slightly Amid New Western Sanctions”

LONDON: The Russian ruble firmed on Friday, pushing back past the level of 80 to the US dollar, helped by higher oil prices but still hampered by reduced foreign currency supply and the latest Western sanctions, according to Reuters. By 11:03 a.m. Saudi time, the ruble was 0.4 percent stronger against the dollar at 79.93, and had gained 0.4 percent to trade at 86.22 versus the euro. It had firmed 0.3 percent against the yuan to 11.37.

Saudi Arabia’s M3 Money Supply Increases by 4.74% Since December End

RIYADH: Saudi Arabia’s M3 money supply has surged 4.74 percent since December 2022, according to data released by the Saudi Central Bank, also known as SAMA. The M3 money supply, which is usually monitored as a broad measure of liquidity in the monetary system, reached SR2.61 billion ($696 billion) in the week ending May 11, rising from SR2.50 billion on Dec. 31. The former M3 money figure also reflects a 0.17 percent drop in the week ending May 11 to the week ending on May 4 when it stood at SR2.62 billion.

Nigerian Aviation Workers Strike, Block Roads Over Pay

Chanting Nigerian aviation workers block roads to the domestic terminal to protest working conditions and wages.

South Korea & Japan Finance Heads to Hold First Talks in 5 Years

South Korean Finance Minister Choo Kyung-ho tells reporters he will meet with his Japanese counterpart next month.

Russia-Ukraine Conflict: Key Events on Day 409

As the Russia-Ukraine war enters its 409th day, we take a look at the main developments.

Russia and Belarus celebrate ‘unity’ amidst ongoing Ukraine war.

The ex-Soviet allies have grown closer and Lukashenko's dalliances with the West appear to be over, say analysts.

Russia and China’s Attempt to Dethrone the Dollar

Russia turns to China's yuan as its foreign currency of choice and supports it in trade with other countries.

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