Key events through the morning: April 16 – Market News – April 16, 2024

Olaf Scholz arrived in China to persuade Xi Jinping to reduce support for Russia. During his three-day visit to China, the German Chancellor met with Xi Jinping. In addition to talking about further developments in German-Chinese relations, Scholz’s delegation plans to persuade China to put pressure on the Russian government, in particular, to agree to the terms of the Ukraine peace talks.

The United States will not provide support to Israel in the event of a retaliatory attack on Iran. It is reported that the United States has no plans to participate in military operations against Iran out of concern that the Middle East conflict will worsen. And this despite Israel receiving the most support from the United States in decades.

Discussions on a bill to provide aid to Ukraine at the expense of Israel are resuming in the United States. Congress is considering three separate loan-and-lease bills, including those financing Israel, Taiwan and Ukraine. But Politico sources claim Republicans will again block any plans involving Ukraine aid.

Russian banks are actively increasing spending on cybersecurity. By 2023, information security costs could increase by up to 60%. It is expected to grow another 20% in 2024. These cost increases are related to the increase in the number of cyberattacks on Russian infrastructure, including banks, as well as the increased costs of software and equipment from major suppliers.

In Russia, the minimum wage can be set at the minimum wage level. The bill, promoted by the “Just Russia – For Truth” faction, includes fixing a minimum wage equivalent to that of the labor law. Today, for many businesses in the country, tariff rates are lower than the minimum wage. As a result, more than 700,000 Russians are receiving unfair wages.