Category: Russian economy is set to shrink

Ukraine War Will Lower Global Growth Says IMF, Russian Economy Could Contract 15 Percent in 2022

March 11, 2022
Business & EconomyEuropeglobal growth concernsIMF - International Monetary FundMarketsRussia Ukraine invasionRussia-Ukraine WarRussian economy is set to shrinkWorld
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The International Monetary Fund (IMF) is expected to cut down its global growth forecast for 2022 due to Russia’s invasion of Ukraine, according to the managing director of the agency, placing a damper on the post-pandemic economic recovery that was critical to many nations. “We think that we would be downgrading our growth projections as…

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Uniqlo Reversing Position, Announces Russia Exit

March 10, 2022
Business & EconomyEuropeMarketsNew Sanctions on RussiaRussia-Ukraine WarRussian economy is set to shrinkUniqloWorld
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Japanese fashion brand Uniqlo has announced its exit from Russia after earlier saying it would continue operations, which drew widespread criticism amid global enterprises quitting en masse as a retaliatory action against the war in Ukraine. “While continuing our UNIQLO business in Russia, it has become clear to us that we can no longer proceed…

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