UBS announced a net profit of $1.4 billion for the second quarter of 2019.Earningsread more
Japan and South Korea are part of a complex and tightly linked supply chain that produces electronic goods such as smartphones and laptops.Technologyread more
Michael Kugelman from the U.S.-based Wilson Center says other issues take precedence in the bilateral dialogue between the United States and Pakistan — namely, Afghanistan and...Asia Politicsread more
Beijing says it can still meet its 2019 growth target of between 6% and 6.5% and continues to roll out stimulus measures to prop up activity. China set a 2019 industrial...China Economyread more
A different oil pricing dynamic has been evolving with new supply calculations based on the U.S. as the world's largest producer.Market Insiderread more
The Massachusetts senator's alarm-sounding on consumer debt neglects to measure it against the growth in the economy and the ability to pay.Economyread more
Stocks in Asia Pacific edged up on Tuesday afternoon, as investors await closely-watched central bank meetings in the coming days.Asia Marketsread more
More than half of Venezuela's 23 states lost power on Monday, according to Reuters witnesses and reports on social media, a blackout the government blamed on an...World Politicsread more
Equifax will give consumers a range of options for monitoring their credit or making claims of fraud or data misuse, part of a $425 million restitution fund.Technologyread more
The deal between the White House and Democrats was earlier expected to raise the debt ceiling for two years and permanently end the sequester.Politicsread more
Britain's Antstream is jumping into the cloud gaming battle with a streaming platform for retro titles. And Tencent just backed the company.Technologyread more
Russian Prime Minister Dmitry Medvedev said he saw no reason for Moscow to cut gas supplies to Ukraine over an unpaid bill for now, playing down talk of an imminent "gas war" that might disrupt flows to Europe.
In an interview with Reuters, he denied Russia's demands for payment had anything to do with opposition to Ukraine signing agreements with the European Union this month which would mark a historic shift away from former imperial master Moscow.
But the 48-year-old ex-president said the "special relationship" between the two former Soviet republics would change if Ukraine moved closer to Europe and that Kiev should no longer come to Moscow seeking loans.
(Read more: Russia takes a page out of the US playbook)
Russian gas export monopoly Gazprom said on Tuesday that Ukraine, which is dependent on supplies of Russian gas, had failed to settle a $882 million bill for August deliveries and demanded it be paid urgently.
Medvedev said it had yet to pay.
"We understand that they have economic difficulties, but they still have to pay, especially after we gave them loans and financed transit," Medvedev said in the interview on Thursday, adding that the transit fees cost billions of dollars.
"It's the law - you have to pay for delivered goods. It's normal practice around the world. Let them pay."
Medvedev said Russia could resort to a system of advance payments if Ukraine did not respond to its demands.
(Read more: Russia's economy could be next big underperformer)
As it nears a payment crunch to service its debt over the next 18 months, Ukraine has asked for leniency from Russian creditors, including trying to extend the term of a $2 billion loan from Russia's Gazprombank by five years.
Just last month, Putin said Russia would lend $750 million to Ukraine.
Ukrainian Energy Minister Eduard Stavitsky said Kiev was able to cover its gas payments without additional borrowing.
"We hope to find a common language in the nearest future, there is no doubt about it, maybe today," he told Reuters.
Medvedev said if Ukraine moved closer to Europe by signing an association agreement with the European Union at a summit on Nov. 28-29, and joining a free trade pact, Brussels could then foot the bill. He denied Russian pressure over the unpaid bill was connected to Kiev's choice of closer ties with the West.
"This is the sovereign choice of Ukraine, but let's hope they don't kick themselves when they see that they will not receive those dividends, those benefits which they counted on, and lose the advantages that exist because of what we have now ... a special relationship with them, an exclusive relationship," he said.
Asked whether there would be a reduction in gas supplies to Ukraine, he replied: "No. In this sense I think that for now everything is okay ... I don't expect any complications."
Harsh language used by Gazprom in the gas dispute has raised concerns of a new "gas war" over prices between the neighbors, similar to those in the winters of 2006 and 2009 which caused supplies to be disrupted to Ukraine and the rest of Europe.
Ukraine's energy minister acknowledged on Wednesday the country may have fallen behind in payments for monthly supplies of Russian gas but said he expected the matter to be settled with Moscow very soon.
Ukraine, which must meet conditions including releasing former prime minister Yulia Tymoshenko from prison for the EU agreements, may have a safety net provided by the International Monetary Fund if Russia cuts it ties.
Russia fears Ukraine could be moving out of its sphere of influence and will stymie President Vladimir Putin's dream of a Moscow-led customs union to replace, at least in part, ties broken with the collapse of the Soviet Union in 1991.
Russia has put pressure on its neighbor, by tightening customs rules and banning some imports.
Medvedev said it was simple choice between forming a trade pact with the 28-nation bloc or the customs union with Russia and two other former Soviet republics, Belarus and Kazakhstan.
"It's their position, and it has to be respected, but they have to understand that relations with us will be different," he said. "They constantly turn to us for credits, for example. In the end, if they have such advanced relations with Brussels ... let them get credits from Brussels."
Follow us on Twitter: