Time and money are largely interchangeable terms. - Winston S. Churchill

Health

Inceptive Raises $100mn to Develop AI-based Vaccines and Drugs in Biotech Expansion

Inceptive Raises $100mn to Develop AI-based Vaccines and Drugs in Biotech Expansion

Andreessen Horowitz, which has invested in numerous tech companies, sees Inceptive's approach as the future of drug design. Chris Dixon, a general partner at Andreessen Horowitz, stated, “The blend of biology and AI has enormous potential. It can effectively shorten the drug development cycle, saving years and millions of dollars.

Price for oil price cap yet to be determined, head of European Commission

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

Exports are falling and imports are growing. The Central Bank of Russia has calculated the balance of payments for Q3

Exports are falling and imports are growing. The Central Bank of Russia has calculated the balance of payments for Q3

The value of exports of goods and services rose 5% y/y in Q3 2022 - a lower growth rate than in Q2. The decline in the value of imports slowed to 14% y/y in Q3 2022. The growth rate of exports fell due to the shutdown of Nord

Switzerland may resort to rationing of gas consumption - Government of Switzerland

Switzerland may resort to rationing of gas consumption - Government of Switzerland

This month, Switzerland held the first talks with Germany on a planned cooperation agreement on gas supplies. "We cannot rule out gas shortages this winter, we can resort to rationing if necessary," the government said.

Europe cuts gas consumption

Europe cuts gas consumption

According to Citigroup, industrial gas use in the UK alone fell by about 49% in June compared to May. The drop in consumption is due to reduced exports from Russia via the Nord Stream pipeline. Europe has already seen a 15-20% drop in gas demand due to high prices, and

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Russian oil workers move to Dubai in search of "favorable" tax jurisdiction

Russian oil workers move to Dubai in search of "favorable" tax jurisdiction

According to Bloomberg, Rosneft explored the idea of establishing a trading venture in Dubai after Switzerland confirmed its willingness to follow EU sanctions. But the UAE refused to follow the example of the U.S. and the EU, refusing to impose sanctions on Russian companies. According to Bloomberg, the UAE

Shanghai introduces mass testing for COVID - number of cases rising - Reuters

Shanghai introduces mass testing for COVID - number of cases rising - Reuters

Shanghai has begun mass COVID-19 testing of all 25 million residents, authorities are trying to contain the outbreak. Authorities ordered PCR testing this weekend for all residents in 15 of Shanghai's 16 districts, with residents in five districts prohibited from leaving their homes during the testing period.

Moscow mayor's office will cancel fines for businesses for violations of covid restrictions and reimburse already paid

Moscow mayor's office will cancel fines for businesses for violations of covid restrictions and reimburse already paid

The mayor of Moscow Sergey Sobyanin announced a "covid amnesty" because of the "fall in real incomes of citizens". The executive authorities will stop the collection of assigned but unpaid fines for violations of covid restrictions. This does not apply to non-compliance with isolation during Covid-19 illness. The amnesty is