The UKIBC is helping companies seeking to move their supply chains to India, especially in manufacturing and advanced manufacturing, its CEO Richard McCallum says.
BRUSSELS - European Union ambassadors agreed on Wednesday to adopt further sanctions against Russia and Belarus in response to the war in Ukraine. EU ambassadors of the 27 member states "agreed on new sanctions targeting Russian officials and oligarchs, as well as their family members for their involvement in the Russian aggression against Ukraine," the French government assuming the rotating presidency of the Council of the European Union said on Twitter. The EU envoys also reached a deal on measures that complete previous sanctions, such as "excluding three Belarusian banks from the SWIFT (Society for Worldwide Interbank Financial Telecommunication) system," "clarifying the question of cryptocurrencies, and adding new items to the list banning the export of technologies and goods," the announcement added. EU national capitals have yet to officially adopt the measures by a written procedure, which is expected soon. Belarus, a pro-Moscow Eastern European s
ISTANBUL - The World Bank announced on Monday that it approved a support package of USD723 million for Ukraine amid the ongoing war with Russia. In a statement, the bank said the supplemental budget support package for Ukraine, called Financing of Recovery from Economic Emergency in Ukraine, or FREE Ukraine, was approved by the Board of Executive Directors. "The package approved by the Board consists of a supplemental loan for $350 million and guarantees in the amount of $139 million, and is also mobilizing grant financing of $134 million and parallel financing of $100 million," according to the readout. It said the fast-disbursing support will help the government provide critical services to Ukrainian people, including wages for hospital workers, pensions for the elderly, and social programs for the vulnerable. "The World Bank Group stands with the people of Ukraine and the region," World Bank president David Malpass said. "This is the first of many steps we a
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