Richard Yu, CEO of Huawei's consumer business, said Huawei's own operating system for smartphones and laptops could be ready for use in China by fall this year.Technologyread more
Lawmakers, lobbyists and CEOs in the U.S. are looking to trying to pick out the best parts of the EU's privacy law called GDPR – and ditch what they see as the worst.Technologyread more
After holding parliamentary elections over seven phases, India started counting the votes on Thursday — and Prime Minister Narendra Modi's Bharatiya Janata Party-led coalition...Electionsread more
Among the many ways Trump has shattered White House norms, his impulsive public communications rank among the most consequential. By inspiring investors or spooking them, his...Politicsread more
A federal judge in New York City on Wednesday said Deutsche Bank and Capital One can turn over financial documents related to President Donald Trump and his businesses in...Politicsread more
China accounted for 40% to 60% of the global increase in trichlorofluoromethane, or CFC-11, emissions between 2014 and 2017, a study found.Scienceread more
CNEX, backed by Microsoft and Dell, filed new allegations in a Texas suit accusing China's Huawei and an executive of trade secrets theft.Technologyread more
With Amazon and Walmart facing regulatory hurdles in India, Reliance's Mukesh Ambani isTechnologyread more
Tech usage and addiction inspires a billion-dollar mindfulness industry. CNBC's Uptin Saiidi attempts three days without any digital gadgets.Technologyread more
Japan's Panasonic said on Thursday it has stopped shipments of certain components to Huawei Technologies to comply with U.S. restrictions on the Chinese company.Technologyread more
Treasury Secretary Steven Mnuchin told CNBC on Wednesday that a trip to Beijing to resume trade negotiations has not been scheduled yet, reducing hopes of a speedy resolution...Asia Marketsread more
An unexpected spike in the value of the Russian ruble has got currency traders speculating that the Central Bank of Russia may be intervening to prop up the currency.
The ruble rallied by around 3 percent against the dollar Thursday – its best performance since January 2010. This has led to speculation that the central bank has intervened to prop up the currency again.
"The most obvious explanation is that policymakers have intervened heavily on the foreign exchange market," economists at Capital Economics argued in a research note.
However, the movement could also be down to traders taking action ahead of Russia's central bank meeting tomorrow.
The ruble's roller-coaster ride means that all eyes will be on the Central Bank of Russia's monthly rate-setting committee on Friday, where policymakers are expected to hike interest rates by 100 basis points from its current 8 percent in an attempt to curb inflation.
There is also a chance they could choose to move away from the policy of a fully-floating exchange rate, towards further intervention, although this would dent further Russia's currency reserves (around $406 billion at the moment, according to the International Monetary Fund).
The ruble has been on a downward trend for most of the month, with falls of 7.1 percent against the dollar and 7.3 percent against the euro before Thursday, making it the worst-performing emerging market currency this month, according to Capital Economics.
This is partly a side effect of the continued slide in the price of oil, one of Russia's biggest exports. There are also increasing signs of pressure on Russian consumers, with food price inflation of 11.9 percent in September, according to Bernstein research.
A weaker ruble seems "inevitable" according to Luis Costa, emerging markets strategist at Citi.
It's not just Russia where a weak ruble will sting. Currency weakness will also continue to hurt European exports to Russia, quite apart from the weakness following sanctions. German exports to Russia were down 16.6 percent in the year to August, compared to the same time in 2013.
However, a weak ruble isn't just a negative for Russia. Timothy Ash, head of emerging markets research at Standard Bank, explains: "a weaker currency a) helps underpin growth, which remains feeble; b) helps buoy ruble budget revenues, offsetting the lower oil price."
Follow us on Twitter: