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Russia doing better than expected despite sanctions: IMF
Russia doing better than expected despite sanctions: IMF
World
by  AFP

Despite damaging Western sanctions imposed on Moscow in the wake of the invasion of Ukraine, Russia's economy appears to be weathering the storm better than expected as it benefits from high energy prices, the IMF said Tuesday. Meanwhile, rising energy prices are "providing an enormous amount of revenues to the Russian economy."

Don't let inflation 'genie' out of the bottle: IMF economist
Don't let inflation 'genie' out of the bottle: IMF economist
World
by  AFP

The global economy is facing a worrisome slowdown, but the critical priority for policymakers is to bring raging inflation under control, the IMF's chief economist said Tuesday. - Signs of hope - Some of the primary risks facing the global economy are beyond the control of policymakers, including the potential for Russia to shut off gas supplies to Europe.

Shopify cuts staff as tech firms tighten belts
Shopify cuts staff as tech firms tighten belts
Business and Economy
by  AFP

Canadian e-commerce platform Shopify laid off about 10 percent of its workers Tuesday as a pandemic-driven boom in online shopping has waned. Shopify beefed up its team as online shopping boomed during the pandemic, gambling that the lifestyle shift would remain even when restrictions eased, Lutke told workers.