russia Archives - Page 2 of 3

All banks refused to open LC for Russian crude oil import

2Jul

By Aqsa Azam1 Comment

Latest

All banks refused to open LC for Russian crude oil import

Pakistani banks refused to open any letter of credit to allow the import of crude oil from Russia. This decision is based on the sanction on Russia and Ukraine imposed by UK and USA. Looking at fuel shortage and price, Russian crude oil might be our last option. All Pakistani commercial banks have refused to open letters of credit (LCs) for Russian-origin crude in the light of economic sanctions by the United States, United Kingdom, and European Union against Moscow for attacking Ukraine. Banks are saying Dollar cannot be a mode of payment for importing Russian crude oil. The oil industry group, comprising refineries and oil marketing companies (OMCs) wrote a letter to the State Bank Of Pakistan (SBP) to review this decision. They know the economic condition of the country is not ...

Marriott Hotel chain to leave Russia after 25 years

7Jun

By Muhammad Dastageer ShamsNo Comments

Global

Marriott Hotel chain to leave Russia after 25 years

Marriott Hotel network has declared it is leaving Russia following 25 years, saying Western limitations made it "impossible" to continue work there. The organization shut its Moscow office and stopped interest in Russia in March, following the attack on Ukraine. In any case, its 22 hotels in the nation are claimed by Russian third parties and stayed open. Marriott said the most common way of suspending activities in Russia was "mind-boggling". In spite of the fact that it might require time for them to finish the course of their withdrawal from the country. However, they have made it official that the brand won't be working in any capacity. Inside the Russian area as managing the business with the sanctions, made unthinkable. Marriott said the most widely recognized approac...

Wimbledon Tennis 2022: Russian and Belarus players banned

21Apr

By Aqsa Azam1 Comment

Sports

Wimbledon Tennis 2022: Russian and Belarus players banned

Men's tennis world number two Daniil Medvedev is set to be banned from the current year's Wimbledon Grand Slam competition. The Times announced coordinators are to boycott Russian and Belarus players because of Russia's attack on Ukraine. Daniil Medvedev Russia is one of the strong competitors in the sports of Tennis. Daniil Medvedev is the top player from the side of Russia who plays alone in the Men's Tournament. Whereas, Wimbledon Tennis women’s singles semi-finalist of Belarus is Aryna Sabalenka. However, Both the players agreed that they would not make any statement regarding political or war Issues. The organizers of the Wimbledon Tennis Championship thought that this will send a negative effect on the families of other players. The BBC reported that confirmation of the dec...

Netflix is losing subscribers for the first time in 10 years

20Apr

By Aqsa AzamNo Comments

Global

Netflix is losing subscribers for the first time in 10 years

Netflix is losing subscriptions for the first time in 10 years. They are expecting to lose even more in the spring. Netflix hints at the password sharing crackdown is the main reason for subscriber's fall. The streaming giant’s share price initially fell close to 20%. It means that Netflix has lost 200,000 subscribers at a single moment. They hint that the password-sharing crackdown is the main cause of this fall. Wall Street had been expecting the company to add 2.5 million subscribers. Even though Netflix Inc., is still expecting to lose 2 million global subscribers in the current quarter. Netflix has hinted it will crack down on households sharing passwords as it seeks to sign up new members following a sharp fall in subscribers. The number of households using the streaming servi...

Russia Resumes Flights with 52 ‘Friendly’ Countries, including Pakistan

19Apr

By Muhammad Dastageer Shams1 Comment

Global

Russia Resumes Flights with 52 ‘Friendly’ Countries, including Pakistan

As part of Russia's plans to reduce measures taken to slow the spread of COVID-19, Prime Minister Mikhail Mishustin announced on Monday that the country would end restrictions on flights to and from 52 countries after April 9. Mishustin announced that Russian airlines would resume flights to and from Argentina, South Africa, and other "friendly countries". That means countries that are not a party to the latest wave of Western sanctions against Moscow over its invasion of Ukraine. Moscow calls it a "special operation" to demilitarize its neighbor. Russian government imposed broad travel restrictions at the start of the coronavirus pandemic in March 2020, and many of them remain in effect. However, the list of countries deemed safe to travel to has gradually expanded. According to...