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Raiffeisenbank Russia faced a setback in court as its appeal against a sales prohibition was rejected, with a crucial hearing set for April 24 regarding a €2.044 billion lawsuit from Rasperia Trading Limited, linked to EU sanctions against its former owner, Oleg Deripaska. If the appeal fails, Rasperia could access funds from the bank, complicating the share transfer process due to EU restrictions. The case highlights the intricate ties between the parties involved, particularly through Raiffeisen-Holding Niederösterreich-Wien.
HSBC chair Sir Mark Tucker stated that "globalisation as we knew it may have now run its course," citing trade and geopolitical tensions that could reshape economic ties among regional groups and trade blocs. He emphasized that while the world won't regress into de-globalisation, new opportunities will arise, particularly among the expanding Brics group, which now includes additional countries like Iran and the UAE. Tucker noted that economic connectivity between Asia and the Middle East is expected to increase significantly in the coming years.
Raiffeisen International transferred billions to Russia just before the onset of the war in Ukraine. Significant cash shipments reportedly arrived in Moscow on the very day of the invasion, raising concerns about the timing and implications of these financial movements.
Raiffeisenbank Russia faced another legal setback as a St. Petersburg court rejected its appeal against a temporary injunction preventing ownership changes, linked to a billion-euro lawsuit from Rasperia Trading Limited, a shareholder in Strabag. A decisive appeal hearing is set for April 24, where the court will determine if the bank must pay 2.044 billion euros in damages and transfer Strabag shares, complicated by EU sanctions against Rasperia. The case stems from a dispute over sanctions related to Russian oligarch Oleg Deripaska, with the lawsuit targeting Raiffeisenbank based on its connection to Raiffeisen-Holding.
The FCC is investigating whether black-listed Chinese firms, including Huawei, are circumventing U.S. regulations by continuing operations in America. The agency has issued inquiries and subpoenas to these entities, aiming to identify any loopholes that allow them to operate despite national security concerns. FCC Chairman Brendan Carr emphasized the need to address potential violations and ensure compliance with the Secure and Trusted Communications Networks Act of 2019.
Brazil's President Lula began a four-day state visit to Japan, accompanied by a 100-member business delegation, to strengthen trade ties amid US tariffs. Discussions with Prime Minister Ishiba will focus on biofuels and reaffirming commitments to free trade, while also addressing Brazil's increasing reliance on China. Lula's visit marks a significant effort to diversify Brazil's trade relationships, particularly in the Asia-Pacific region.
The prepaid card market is projected to grow from $24.91 billion in 2024 to $28.37 billion in 2025, driven by regulatory changes, consumer preferences, and financial inclusion initiatives. By 2029, the market is expected to reach $46.16 billion, with trends highlighting enhanced security, sustainability, and digital wallet integration. The increasing use of prepaid cards for online purchases and innovative products like Neokred are further fueling this growth.
The global debt crisis is intensifying, with developing nations facing unprecedented challenges as their external debt reached $11.4 trillion in 2023, consuming more than their export earnings. Countries like Sri Lanka and Pakistan exemplify the dire consequences of unsustainable borrowing, leading to defaults and economic turmoil. Urgent reforms and innovative solutions, such as debt-for-climate swaps, are essential for fostering sustainable development and financial stability amidst rising global trade uncertainties.
The global Cell Line Development Market is projected to grow at a CAGR of 12.13% from 2024 to 2031, driven by increasing demand in drug discovery and biopharmaceutical production. Key players include Lonza Group AG, Thermo Fisher Scientific Inc, and GE Healthcare, with significant regional markets in North America, Europe, and Asia-Pacific. The report offers insights into market trends, challenges, and opportunities, utilizing both qualitative and quantitative research methods.
Aleksei Andriunin, CEO of the cryptocurrency market-making firm Gotbit, pleaded guilty to market manipulation and wire fraud in a Boston federal court. The 26-year-old Russian national was extradited from Portugal after being arrested in October 2024. Prosecutors revealed that Gotbit engaged in "wash trading" from 2018 to 2024, inflating token volumes and generating millions in sham trades. As part of the FBI's "Operation Token Mirrors," Andriunin faces a recommended sentence of up to two years in prison and will forfeit approximately $23 million in cryptocurrency, with sentencing scheduled for June 16.
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Raiffeisenbank Russia faces legal setbacks in billion euro Strabag lawsuit
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Raiffeisenlandesbank Niederösterreich- Wien AG
RBI OE TS.Z./Siemens
RAIFFEISEN-HOLDING NIEDERÖSTERREICH- WIEN eG
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08:45 25.03.2025
globalisation may be ending as trade tensions reshape economic ties
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07:17 25.03.2025
Raiffeisen International transfers billions to Russia before Ukraine invasion
05:00 25.03.2025
Raiffeisenbank Russia faces legal setbacks in billion-euro Strabag lawsuit
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RAIFFEISEN-HOLDING NIEDERÖSTERREICH- WIEN eG
RBI OE TS.Z./Siemens
Strabag SE
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01:40 25.03.2025
fcc investigates blacklisted chinese firms for potential violations in us operations
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22:24 24.03.2025
brazil and japan strengthen trade ties during lula's state visit
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11:45 24.03.2025
prepaid card market poised for rapid growth driven by consumer demand and innovation
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11:11 24.03.2025
global debt crisis challenges developing nations amid rising economic instability
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19:23 22.03.2025
cell line development market projected to grow at 12.13 percent CAGR through 2031
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19:14 22.03.2025
gotbit ceo pleads guilty to market manipulation and wire fraud
02:20 22.03.2025
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