Curbs

Global exports of semiconductors to Russia have plummeted by 90 percent since the United States and allies slapped export controls on Moscow over its invasion of Ukraine, US Commerce Secretary Gina Raimondo said on Wednesday.Raimondo, speaking at an annual Commerce Department conference, also said that controls placed on Russia's aerospace sector were hammering its ability to generate revenue and support military aviation."Russia may be forced to ground between half and two-thirds of its commercial aircraft in the next…

Countries around the world have enacted a wave of export curbs on food since the start of the Ukraine war, a trend that economists say risks aggravating shortages and global food-price inflation.On nearly every continent, nations have put new restrictions and bans on products ranging from wheat, corn and edible oils to beans, lentils and sugar. Lebanon has even banned the export of ice cream and beer. The cascade of restrictions marks another setback for unfettered global trade, which has been dented in recent years by…

India's Paytm Payments Bank, which facilitates transactions on mobile commerce platform Paytm, expects the central bank to allow it to resume taking on new customers in the next few months, a top executive told Reuters.In March, the Reserve Bank of India ordered a comprehensive audit of the company's IT systems, citing "material" supervisory concerns, without elaborating further, and barring it from taking on new customers.The bank is working with the RBI to complete the IT audit and address the regulator's concerns."The…

Washington says it will expand flights to Cuba, take steps to loosen restrictions on US visitors to the island and lift Trump-era restrictions on remittances that immigrants can send to people on the island. US will lift the current limit of $1,000 per quarter for each sender, and also allow non-family…

Shipments of some Apple products, as well as Dell and Lenovo laptops are likely to face delays if China's COVID-19 lockdowns persist, analysts said, as curbs force assemblers to shut down and closed-loop arrangements get harder to maintain.China's race to stop the spread of COVID-19 has jammed highways and ports, stranded workers and left countless factories awaiting government approval to reopen - disruptions that are rippling through global supply chains.Apple supplier Pegatron said this week it would suspend its plants…