KYIV/NOVOAZOVSK, Ukraine – Ukraine’s military said on Tuesday it was working to evacuate all remaining troops from their last stronghold in the besieged port of Mariupol, ceding control of the city to Russia after months of bombardment. The evacuation likely marked the end of the longest and bloodiest battle of the Ukraine war and a significant defeat for Ukraine. Mariupol is now in ruins after a Russian siege that Ukraine says killed tens of thousands…"Ukrainian troops evacuate from Mariupol, ceding control to Russia"
LONDON – The cost of life-saving treatment for the most severely malnourished children is set to jump by up to 16% due to Russia’s invasion of Ukraine and pandemic disruptions, according to the United Nations’ children’s agency. The raw ingredients of the ready-to-eat-therapeutic food have leapt in price amid the global food crisis sparked by the war and pandemic, UNICEF said. Without further funding in the next six months, 600,000 more children may miss out…"U.N. warns of ‘catastrophic’ child malnutrition due to price hikes, Ukraine war"
– Credit Bank of Moscow (MKB), one of Russia’s largest private lenders, has obtained a gold export licence from the government, it said on Monday, becoming the latest Russian bank to turn to precious metals trade to offset the impact of sanctions. The main operators of the gold market in Russia and its largest lenders – Sberbank and VTB – have been hit by harsh Western sanctions imposed on Moscow after it sent tens of…"Russia gives Credit Bank of Moscow licence to export gold"
KRAKOVETS, Ukraine – Ukraine’s Kalush Orchestra returned to their homeland on Monday after an emotional Eurovision Song Contest victory, greeted at the border with Poland by servicemen and women whose cause the band had championed in Turin. Frontman Oleh Psiuk was presented with a bouquet of yellow and blue flowers – the colours of Ukraine’s flag – and reunited with his girlfriend before he and his band launched into an impromptu version of “Stefania”, their…"Ukraine’s Kalush Orchestra feted on return home after Eurovision win"
LONDON – Russia said on Monday that it had agreed to evacuate wounded Ukrainian soldiers from the bunkers below the besieged Azovstal steel works in Mariupol to a medical facility in the Russian-controlled town of Novoazovsk. “An agreement has been reached on the removal of the wounded,” the Russian defence ministry said in a statement. “A humanitarian corridor has been opened through which wounded Ukrainian servicemen are being taken to a medical facility in Novoazovsk.”…"Russia says it will evacuate wounded Ukrainian soldiers from Azovstal"
(Corrected to say $1 billion not $1 million in the ninth paragraph.) -A Soviet-era car brand the “Moskvich” could make a surprise comeback in Russia, as Moscow takes over assets belonging to Renault following the French carmaker’s exit from the country. Moscow’s mayor Sergei Sobyanin said he would nationalise Renault’s car factory in the city, after the Western carmaker said it was selling its local business following the start of the conflict in Ukraine. The…"Return of the Moskvich: Russia to revive ‘legendary’ Soviet-era car after Renault exit"
PARIS – The European Union and the United States agreed on Monday to cooperate more closely to counter disrupted supply of industrial commodities and food caused by Russia’s invasion of Ukraine and to combat disinformation from Moscow. Senior EU and U.S. officials convened in Paris for the second Trade and Technology Council, a forum initially seen as a transatlantic counterweight to China, but now with a clear focus also on Russia. In a joint statement,…"EU, U.S. raise cooperation to counter Ukraine war disruption"
KYIV – Weather conditions for the development of Ukrainian spring and winter crops were satisfactory in early May and most of the crops are in good or satisfactory condition, analyst APK-Inform said on Monday. Ukraine has almost completed its early spring grain sowing and the area would be 20% to 30% smaller than in peace time because of fighting in southern and eastern regions of the country, one of the world’s biggest wheat exporters. “Weather…"Weather mostly favours Ukrainian grain crops in May, consultancy says"
– McDonald’s Corp said on Monday it has started a process to sell all its restaurants in Russia, exiting the country after more than 30 years following its invasion of Ukraine. The world’s largest fast food chain had in March decided to close its 847 restaurants in Russia, taking a hit of $50 million per month. It now expects to record a non-cash charge of about $1.2 billion to $1.4 billion following the sale. The…"McDonald’s to exit Russia after more than 30 years"
– Gold prices fell more than 1% to their lowest in 3-1/2 months on Monday as elevated bond yields and a firmer U.S. dollar dampened bullion demand, even as riskier assets dropped after grim China economic data. A stronger dollar makes gold expensive for overseas buyers, while higher Treasury yields raise the opportunity cost of holding zero-yield bullion. Spot gold was down 0.7% at $1,798.80 per ounce as of 0920 GMT, after hitting its lowest…"Gold prices buckle under pressure from ‘King Dollar’, higher yields"