The Treasury Department’s sanctions arm designated the commercial bank Transkapitalbank, which has operations in China and the Middle East. Transkapitalbank is a Russian privately owned commercial bank which the U.S. says has helped sanctioned clients process dollar payments, by providing an alternative communication channel to SWIFT — the dominant system for global financial transactions.
Treasury also targeted people and companies led by U.S.-designated Russian oligarch Konstantin Malofeyev — the founder of a Russian Orthodox news channel, Tsargrad TV. Malofeyev was also designated for sanctions in December 2014. Treasury said he was one of the main sources of financing for Russians promoting separatism in Crimea.
In a first, the U.S. government issued penalties against a cryptocurrency firm in relation to the war. Digital currency firm Bitriver AG and 10 of its subsidiaries were included in Wednesday’s package of sanctions from Treasury’s Office of Foreign Assets Control.
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World Bank President welcomes India’s move of selling oil
World Bank President David Malpass has welcomed India’s move to begin selling oil from its stockpiles, asserting that the world needs to take important steps to address the current set of crises. Speaking on the sidelines of the annual Spring meeting of the IMF and the World Bank held here, Malpass told reporters that allowing more trade and opening of markets were “very important” steps. “I was intrigued to see and welcomed India’s moves yesterday and today to begin to sell from its stockpiles. I think market opening steps by many of the advanced economies could add a lot to the global supplies and alleviate some of the impact on the poor countries,” he said on Wednesday.
Three killed, including police inspector, in terror strike in Pakistan’s KPK
Some unknown assailants attacked a police checkpost in Pakistan’s restive Khyber Pakhtunkhwa province on Wednesday, killing three persons, including a police inspector, and injuring two others, officials said. The terrorists attacked Ajab Talab police checkpost in Khyber tribal district, bordering Peshawar and Afghanistan. As a result of lethal firing by the terrorists, a police inspector and two passersby were killed.
Tesla Q1 earnings seven times higher than year ago
Tesla reported Wednesday that its first-quarter net earnings were over seven times greater than a year ago, powered by strong sales despite global supply chain kinks and pandemic-related production cuts in China. The electric vehicle and solar panel company made USD 3.32 billion from January through March. Excluding special items such as stock-based compensation, the Austin, Texas, company made USD 3.22 per share. That soundly beat Wall Street estimates of USD 2.26 per share according to data provider FactSet. Revenue for the quarter was USD 18.76 billion, also beating estimates of USD 17.85 billion. It was boosted by multiple price hikes meant to offset rising costs of lithium, nickel, cobalt and other precious metals used to make batteries.
“India in much better place to face Ukrainian crisis”
The successful macroeconomic management of the Covid-19 pandemic has resulted in a strong recovery of India’s economy because of which the country is in a better position to face the economic fallout of the current Ukrainian crisis, a top official from the International Monetary Fund has said.
Observing that India represents about seven per cent of the total world economy in purchasing power parity (PPP) terms and is one of the countries that are growing rapidly, IMF’s Mission Chief for India Nada Choueiri told PTI that India’s growth is lifting the global economy and is very important for a well-functioning global economy. “So, here you have an important contribution. The other important role that India is playing today is in the provision of vaccines,” she said on Wednesday. As a significant vaccine producer, India has a role also in managing future pandemics, she said.
“India’s high growth rate positive news for world”
A high growth rate for India, as projected in the latest World Economic Outlook, is not only healthy for the country but also positive news for the world, Managing Director of the International Monetary Fund Kristalina Georgieva has said.
The IMF, early this week, projected a “fairly robust” growth of 8.2 per cent for India in 2022, making it the fastest-growing major economy in the world, almost twice faster than China’s 4.4 per cent. The global growth has been projected at 3.6 per cent in 2022, down from 6.1 per cent in 2021.
BJP worker shot dead in east Delhi’s Ghazipur
A 42-year-old BJP member was shot dead on Wednesday in east Delhi’s Ghazipur area, police said. The deceased, identified as Jeetu Choudhary, was the secretary of BJP’s Mayur Vihar district unit, they said. According to police, the incident took place around 8.15 pm. The beat staff of Ghazipur Police Station during patrolling noticed a gathering near Mayur Vihar area. When he reached there, a man was found lying on the road in front of his house with gunshot wound.