Profitloss Centerstage Events

The rise in oil prices due to Russia's invasion of Ukraine took center stage on Wednesday, 23 February 2022 among all major events across the globe, and remains the highlight of this week's list of center stage events.
Picture Courtesy: Profit loss

Centerstage events of week 3

Iraq is seeking to postpone the final $4.6 billion installment...

Iraq is seeking to postpone the final $4.6 billion installment of reparations for its occupation of Kuwait in 1990-91, citing a cash crisis caused by falling oil prices and war with the Islamic State. The Finance Minister, Hoshiyar Zebari, has stated that Iraq is in discussions with Kuwait to defer the payment for one or two years in order to present a realistic budget. The decision would require the agreement of the United Nations Compensation Commission's Governing Council.

Monday, 21 February, 2022

Following Russia's invasion of Ukraine, oil prices surged on Thursday,...

Following Russia's invasion of Ukraine, oil prices surged on Thursday, with Brent crude surpassing $100 a barrel for the first time since 2014. However, prices retreated after President Joe Biden stated that there were no immediate plans for energy sector sanctions against Russia. The attack has significant implications for energy markets due to Russia's position as the world's second-largest natural gas producer and one of the largest oil-producing nations. Concerns over potential international sanctions disrupting supplies have contributed to the increase in oil prices.

Tuesday, 22 February, 2022

The Moscow Stock Exchange experiences a significant selloff, leading to...

The Moscow Stock Exchange experiences a significant selloff, leading to the activation of circuit breakers twice within three hours. The Russian ruble reaches a historic low of ₽89.98 per US dollar. Meanwhile, the National Bank of Ukraine pegs the official hryvnia rate to the US dollar at ₴29.25, imposes restrictions on foreign currency purchases in the interbank market, and introduces cash withdrawal limits. Additionally, the central bank halts all transactions with Russian accounts and provides unlimited short-term liquidity loans to banks.

Wednesday, 23 February, 2022

A 6.2 magnitude earthquake in Sumatra, Indonesia has resulted in...

A 6.2 magnitude earthquake in Sumatra, Indonesia has resulted in the deaths of at least seven people and injuries to 85 others. The impact of the earthquake was felt as far as Malaysia and Singapore. The affected areas, particularly West Pasaman and Pasaman regencies, experienced damage to over 400 houses, buildings, and infrastructure. More than 5,000 residents have sought refuge in temporary shelters, and the National Disaster Management Agency is providing assistance and coordinating relief efforts.

Thursday, 24 February, 2022

A draft resolution aimed at ending Russia's military offensive in...

A draft resolution aimed at ending Russia's military offensive in Ukraine was rejected by the Security Council today. The draft, supported by 11 members, was vetoed by Russia, while China, India, and the United Arab Emirates abstained. The resolution would have condemned Russia's aggression, called for an immediate cessation of force and withdrawal of military forces from Ukraine, and demanded the reversal of Russia's decision on certain areas. It also urged adherence to the Minsk agreements, humanitarian access, and de-escalation efforts by international organizations.

Friday, 25 February, 2022

The European Union bans the Sputnik news agency and RT,...

The European Union bans the Sputnik news agency and RT, both state-sponsored news outlets which are widely considered to be promoting Russian propaganda.

Saturday, 26 February, 2022

The United Nations reports at least 406 civilian casualties in...

The United Nations reports at least 406 civilian casualties in Ukraine.

Sunday, 27 February, 2022