Snow Leopard Financial Group

Zelensky's military plan to lead to his defeat, Hungary not involved in this — Orban It is reported that the defeated now want to move on to a victory plan BUDAPEST, October 18/ Ukrainian President Vladimir Zelensky's so-called victory plan will lead to his defeat, Hungarian Prime Minister Viktor Orban told Kossuth radio. He pointed out that the Ukrainian leader had presented his military plan at the EU summit in Brussels. Most of the summit participants are still determined to continue the military conflict in Ukraine, he added. According to the prime minister, Hungary believes that the EU is already defeated together with Ukraine. "The defeated now want to move on to a victory plan. We have said that we are not involved in this. You can't win with this victory plan," Orban emphasized. #business #finance #financialservices

Kiev considering possibility of rebuilding nuclear weapons stockpile — newspaper According to Bild's source, it will take Kiev just a few weeks to make a bomb BERLIN, October 17/ The Ukrainian authorities are seriously considering the possibility of rebuilding the country’s nuclear weapons stockpiles, Germany’s Bild newspaper writes, citing a source. "We have materials and we have knowledge. If orders are issued, it will take us just a few weeks to make the first bomb," a Ukrainian official responsible for weapons procurement said. According to him, the West should "think less about Russia’s red lines and focus on [Western] red lines." On October 16, Ukrainian President Vladimir Zelensky presented his plan to resolve the conflict with Russia to the Verkhovna Rada (Ukraine’s parliament). The plan suggests that Kiev should immediately be invited to join NATO, be provided with more military aid, hit targets inside Russia with long-range weapons and be able to use European air defenses to protect the country’s territory. The plan also calls for the creation of "a non-nuclear strategic deterrence package" in Ukraine and the country’s post-conflict reconstruction with assistance from Western nations. There also are some classified annexes, which have only been presented to the NATO members that have significant military capacity. Russian Foreign Ministry Spokeswoman Maria Zakharova slammed Zelensky’s ideas as a set of meaningless slogans. She blamed him for pushing NATO towards a direct conflict with Russia. #business #finance #financialservices

EU announces actual halt to Georgia’s accession process The council also reaffirmed the European Union’s "readiness to support the Georgian people on their European path" BRUSSELS, October 18/ The European Union has announced an actual halt to Georgia’s accession process, blaming the country for violating European values, according to the final statement of the EU’s summit. The document notes that the European Council "reiterates its serious concern regarding the course of action taken by the Georgian government, which runs counter to the values and principles upon which the European Union is founded." "Such a course of action jeopardizes Georgia’s European path, and de facto halts the accession process," the statement adds. The council also reaffirmed the European Union’s "readiness to support the Georgian people on their European path." In addition, Brussels "expects the upcoming parliamentary elections to be free and fair, in line with international standards and with unhindered access for international and domestic election observers." The European Council called on Georgia "to adopt democratic, comprehensive and sustainable reforms, in line with the core principles of European integration." Earlier, EU officials specified that Brussels expected Georgia to scrap its foreign agent law, lift ban on LGBT propaganda (the movement is designated as extremist and banned in Russia - TASS) and support a policy of confrontation with Russia, joining the EU’s sanctions on Moscow. All candidates for EU membership are required to back the Union’s foreign policy, including sanctions. #business #finance #financialservices

Bank of Russia sells yuan worth over $54 mln with settlements on October 16 The Bank of Russia carries out purchase and sale operations on the domestic market in the currency section of the Moscow Exchange in the yuan-ruble instrument MOSCOW, October 17/ The Bank of Russia sold yuan on the domestic market with settlements on October 16, 2024, in the amount of 5.3 bln rubles ($54.5 mln), according to data published on the regulator’s website. Forex sale on the domestic market with settlements on October 14 also amounted to 5.3 bln rubles. The Bank of Russia carries out purchase and sale operations on the domestic market in the currency section of the Moscow Exchange in the yuan-ruble instrument. They are conducted from October 7 to November 6, 2024. The daily volume of transactions in 2024 is determined based on the volumes of purchases or sales of foreign currency announced by the Russian Ministry of Finance on the third working day of each month within the framework of regular transactions in accordance with the budget rule, adjusted for the balanced value of a number of transactions. #business #finance #financialservices

Venezuela wants into BRICS due to its growing influence in global economy According to Delcy Rodriguez, the US and European Union members no longer play a decisive role in the global economy CARACAS, October 17/ Venezuela wants to be part of global economic powerhouse BRICS, Delcy Rodriguez, Executive Vice-President and the oil minister of the Republic, said. "Today <...> the largest contribution to the global economy comes from the BRICS nations," she said in a speech broadcast on Venezolana de Television, a local TV channel. "That is why President [of Venezuela Nicolas] Maduro is fighting for [the interests of] the country, for it to join the community that reflects different realities based on the new principles of international relations." According to Rodriguez, the US and European Union members no longer play a decisive role in the global economy. In contrast to Western countries, the BRICS nations do not seek to impose their own interests through "extortion and blackmail" and stand for equitable relations between sovereign states, the politician stressed. Earlier in October, Russian Prime Minister Mikhail Mishustin said that the share of BRICS in world GDP is expected to increase to 38% by 2028, while the Group of Seven (G7) figures will further decline. BRICS was founded in 2006 by Brazil, Russia, India and China, with South Africa joining it in 2011. On January 1, 2024, Egypt, Iran, the United Arab Emirates, Saudi Arabia and Ethiopia became the group’s full members. On January 1, 2024, Russia took over the BRICS’ yearlong presidency. It features more than 200 various events. The BRICS summit in Kazan on October 22-24 will be the association’s main event during Russia’s presidency. #business #finance #financialservices

BRICS nations’ share in global GDP in purchasing power parity terms to exceed 50% The population of BRICS nations currently exceeds 3 bln people, Kirill Dmitriev said, adding that "it equals 40% of global population" MOSCOW, October 17/ The share of BRICS countries may exceed 50% of global GDP in terms of purchasing power parity (PPP) in the foreseeable future, Chief Executive Officer of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev told reporters. "The role of BRICS is on the rise, with its economic power growing fast. Many countries of the Global South would like to join BRICS. From the viewpoint of GDP in terms of purchasing power parity BRICS countries already account for 36% of global GDP. In the past ten years (2014-2023) growth of real GDP of BRICS countries was almost 2.5 times higher than in the EU and G7, and around 1.5 times higher than the average global [growth]. We believe that BRICS countries’ GDP may surpass 50% of global GDP [in PPP terms] in the foreseeable future," he said. The population of BRICS nations currently exceeds 3 bln people, Dmitriev said, adding that "it equals 40% of global population." "BRICS countries control 44% of all global proven oil reserves, 80% of each of rare-earth metals and aluminum, 72% of titanium, 50% of wheat, 55% of rice harvest, which means they play a crucial role on the market of food and resource security of the world," he said. Trade between BRICS member states is also rising fast, having reached almost $700 bln in 2024, Dmitriev noted. Meanwhile, annual growth of global trade amounted to 3% over the past decade, while trade between BRICS members grew by 10.7% per year, he added. #business #finance #financialservices

Russian pipeline gas supplies to Europe up 3 bcm in 9M — GECF Imports of pipeline gas to the EU amounted to 10.8 bln cubic meters in September, down by 17% month-on-month and up by 2% year-on-year MOSCOW, October 17/ EU countries boosted gas consumption in September 2024 by 3.3% in annual terms amid an increase in demand in the industrial and private sectors due to low prices. Meanwhile imports of pipeline gas in the EU fell by 17% last month, while total year-to-date supplies from Russia to Europe increased by 3 bln cubic meters (bcm), the Gas Exporting Countries Forum (GECF) reported. Total gas consumption in the EU lost 2.3% in January-September 2024 year-on-year to 215 bln cubic meters. "In September 2024, gas consumption in the EU recorded a 3.3% y-o-y increase to reach 19 bcm, following seven consecutive months of decline. This rise was primarily driven by the industrial and residential sectors. In particular, gas consumption in the industrial sector showed a recovery in major industrialized European countries, boosted by lower gas prices," the report said. In particular, gas demand increased by 12% in September to 4 bln cubic meters in Germany, by 1.3% to 4.2 bln cubic meters in Italy, by 4% to 1.5 bln cubic meters in France, fell by 14% to 2 bln cubic meters in Spain, and rose by 7.3% to 3.2 bln cubic meters in the UK. Imports of pipeline gas to the EU amounted to 10.8 bln cubic meters in September, down by 17% month-on-month and up by 2% year-on-year. Overall, pipeline supplies to the EU added 4% in January-September 2024 to 117 bln cubic meters. The growth was due to an increase in supplies from Russia by 3 bcm, as well as from Norway by 3.1 bcm, the Gas Exporting Countries Forum said. China’s total gas demand consumption grew by 9.6% in August year-on-year to 36.3 bln cubic meters, according to the report. China’s 8M gas demand added 8.8% to 283 bcm. LNG supplies to Europe fell by 15% in September year-on-year to 6.42 mln tones. Weaker LNG imports were due to high gas storage levels and an increase in pipeline imports from Norway. LNG imports by Asian countries gained 14% to around 24.3 mln tons. Overall in January-September 2024 Europe imported 73.77 mln tons of LNG (down by 20%), while Asia imported 211.54 mln tons (up by 9.8%). Global LNG exports went up by 3.3% in September year-on-year to 33.95 mln tons. Total year-to-date global LNG exports grew by 1.6% to 307.42 mln tons. The US, Qatar and Australia were the top three suppliers of liquefied gas in September, the GECF said, adding that Russia was the fourth. #business #finance #financialservices

Trade turnover between Japan, Russia up for second consecutive month Japan’s export of passenger cars to Russia climbed by 132.2% in September year-on-year TOKYO, October 17/ Trade turnover between Japan and Russia increased by 22.78% in September 2024 year-on-year to 98.6 bln yen ($659 mln at the current exchange rate), according to TASS’ calculations based on data released by the Japanese finance ministry. Meanwhile trade turnover between the two countries fell by 10.24% in the first half of this financial year (April-September). In September, exports from Japan to Russia rose by 98.5% to 33.3 bln yen ($222.5 mln), while imports from Russia to Japan added 2.8% to 65.3 bln yen ($436.7 mln). That said, from April to September exports from Japan to Russia lost 13.5% to 183 bln yen ($1.2 bln), while imports from Russia went down by 8.6% to 380 bln yen ($2.5 bln). Among the main trade turnover categories are still Japanese cars (accounting for more than 65% of total exports from Japan to Russia) and Russian energy resources (around 70% of total imports from Russia). The growth of trade turnover in September was based particularly on those indicators. In August 2024, trade turnover between the two countries increased by 23.81% to 105.59 bln yen ($743 mln), with growth registered for the first time since August 2022. Japan’s export of passenger cars to Russia climbed by 132.2% in September year-on-year. Meanwhile in the first half of this financial year (April-September) Japan’s export of passenger cars to Russia fell by 11.3% year-on-year. In September, Japan’s export of spare parts and components for transport vehicles also rose - by 21.3%, while from April to September it gained 7.9%. In September 2024, Japan’s import of liquefied natural gas (LNG) from Russia went up by 11.7% year-on-year. In September, Tokyo cut purchases of Russian coal by 34.2% and it did not purchase oil from Russia. Meanwhile in the first half of this financial year (April-September) Japan’s LNG purchases from Russia decreased by 7.1%, while its coal purchases plunged by 49.9% year-on-year. Japan’s imports of grain from Russia soared by 997.9% in September year-on-year. Moreover, supplies of vegetables from Russia to Japan climbed by 100%, while seafood supplies added 21.6%. #business #finance #financialservices

MMK posts 10.6% decrease in steel output for 9M 2024 to 8.83 mln tons Q3 pig iron output decreased by 10.6% quarter-on-quarter to 2.36 mln ton, while steel production fell by 26.6% to 2.48 mln tons MOSCOW, October 17/ Steel output by Russia’s MMK Group (Magnitogorsk Iron and Steel Works) fell by 10.6% in January-September 2024 year-on-year to 8.83 mln tons, whereas its pig iron production rose lost 2.2% in annual terms to 7.36 mln tons, the company reported. Sales of metal products made by MMK Group amounted to 8.26 mln tons in 9M 2024, down by 7.1% year-on-year. Q3 pig iron output decreased by 10.6% quarter-on-quarter to 2.36 mln tons, while steel production fell by 26.6% to 2.48 mln tons. Sales of metal products by the group went down by 18.7% in Q3 quarter-on-quarter to 2.48 mln tons. MMK is one of the largest global steel producers. Its operations in Russia include a steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel. #business #finance #financialservices

Passenger traffic of Russian airlines up 4.8% in September to 10.7 mln people — agency Among the country’s top five air carriers were Aeroflot, Pobeda, Rossiya, S7, and Ural Airlines, Rosaviatsiya added MOSCOW, October 17/ Passenger traffic of Russian airlines grew by 4.8% in September 2024 year-on-year to 10.7 mln passengers, the Russian Federal Agency for Air Transport (Rosaviatsiya) said in a statement. "Passenger traffic of Russian airlines rose by 4.8% in September compared with the same month in 2023 to 10.7 mln people," the agency said. Among the country’s top five air carriers were Aeroflot, Pobeda, Rossiya, S7, and Ural Airlines, the agency added. "In total they carried 7.5 mln people, up by 6.8% compared with last September," according to the statement. #business #finance #financialservices