The Group of Seven rich democracies will commit on Tuesday to a new package of coordinated actions meant to raise pressure on Russia over its war in Ukraine, and will finalise plans for a price cap on Russian oil, a senior US official said on Monday. The announcement came as the White House said Russia had defaulted on its foreign sovereign bonds for the first time in decades – an assertion Moscow rejected – and as Ukrainian President Volodymyr Zelensky spoke virtually with G7 leaders meeting at an alpine resort in southern Germany. Zelensky asked leaders of the Group of Seven leading industrial democracies for a broad range of military, economic and diplomatic support, according to a European official. G7 nations, which generate nearly half the world’s economic output, want to crank up the pressure on Russia without stoking already soaring inflation that is causing strains at home and savaging the global south. The price cap could hit Russian President Vladimir Putin’s war … [Read more...] about G7 to Hike Sanctions on Russia, Nears Oil Price Cap Deal
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A poster showing BTS members is displayed at a tourist information center in Seoul on June 15. [AP/YONHAP] HYBE was not required to make a formal disclosure about a possible BTS "hiatus," according to the stock exchange, despite concerns that the company failed to properly communicate a material event to the public and shareholders. "Not disclosing information on a BTS hiatus is not a violation of Korea Exchange rules," said Lee June-hyung, a spokesperson for Korea Exchange. "The band's remarks were vague. The company would have to file a disclosure if it was clear from when to when the group will halt activities." Lee added that listed entertainment agencies cannot file reports on every activity of their singers or actors. In a video released June 14, BTS member Suga suggested that the band would be taking a temporary break from group activities. HYBE's stock plummeted 28 percent the following day to near its initial public offering price. The stock hasn't recovered since, … [Read more...] about HYBE not required to disclose BTS ‘hiatus,’ Korea Exchange says
The story so far: The World Gold Council accorded India as the fourth largest recycler of gold, having recycled 75 tonnes of the valuable yellow metal in the previous year. As per the report titled ‘Gold refining and recycling’, India’s gold refining landscape has changed ‘notably’ in the past decade with formal operations increasing from less than 5 in 2013 to 33 in 2021. The import duty differential that gold doré has enjoyed over refined bullion has particularly accelerated the growth of organised refining in India. Helped by these tax incentives, about half of India’s new refining capacity opened up in Excise Free Zones (EFZs) in Uttarakhand since 2014. China topped the list having recycled about 168 million tonnes of gold in 2021. Italy stood second having recycled 80 million tonnes of gold in 2021, followed by the United States (78 million tonnes). For perspective, gold dorés are metal bars with high gold content. They are composed of a mixture of precious metals but … [Read more...] about Explained | What is gold recycling?