Chinese exports in January and February rose a combined 16.3 per cent on surging global demand and a spike in trade with Russia in the run-up to the war in Ukraine, according to customs data released on Monday.

Chicago wheat futures rose by more than 6 per cent on Monday to 14-year highs on concern global supplies will be disrupted until the Russia-Ukraine conflict is resolved.

Russia’s rouble tumbled to a fresh record low in thin offshore trade on Monday, with local markets closed for trading until at least Wednesday.

Persistent and significant gaps in care services and policies have left hundreds of millions of workers with family responsibilities without adequate protection and support, yet meeting these needs could create almost 300 million jobs by 2035.

Western allies’ sanctions against Russia have started to blow back in the form of large potential losses for their own banks, companies and investors, often in unexpected ways. In the past, such fires have been precursors to financial crises.

Oil prices soared and shares sank in frantic trading on Monday as the risk of a US and European ban on imports from Russia and delays in Iran's renewed nuclear talks boosted commodities and threatened a stagflationary shock for world markets.

Oil prices soared to their highest since 2008 due to delays in the potential return of Iranian crude to global markets and as the United States and European allies consider banning imports of Russian oil.

Russia’s central bank announced Sunday it was allowing lenders in the country to reduce the frequency of their financial disclosures, a measure it said was necessary to mitigate sanctions fallout.

Retailers in Russia will limit sales of essential foodstuffs to limit black market speculation and ensure affordability, the government said Sunday, as sanctions imposed over Moscow’s military incursion into Ukraine began to bite.

The International Monetary Fund on Saturday said it expected to bring Ukraine’s request for $1.4 billion in emergency financing to its board for approval as early as next week and was in talks about funding options with authorities in neighboring Moldova.

Global banks face an arduous and costly process if they decide to close businesses in Russia, banking sources and experts say, complicating decisions over whether they should withdraw.

Russia and Ukraine-bound exports, especially garments, are now faced with an uncertain future as shipping lines are understandably not too eager to carry goods to war zones.

Oil prices are set to surge further this week due to delays to the conclusion of Iranian nuclear talks and the potential return of Iranian crude to global markets, which are already suffering from Russian supply disruptions, analysts said.

Several Russian banks said on Sunday they would soon start issuing cards using the Chinese UnionPay card operator's system coupled with Russia's own Mir network, after Visa and MasterCard said they were suspending operations in Russia.

World food prices hit a record high in February, led by a surge in vegetable oils and dairy products, to post a 24.1  per cent increase year-on-year, the UN food agency said on Friday.

Chinese firms are staying put in Russia for the moment despite a growing exodus of Western companies - albeit bracing for growing uncertainty - taking a cue from Beijing’s stance of refraining from criticizing Moscow over its invasion of Ukraine.

Samsung Electronics has suspended shipments to Russia over “geopolitical developments”, the firm said Saturday, as major firms including Apple cut ties with the country over its invasion of Ukraine.

The White House is looking for ways to reduce US consumption of Russian oil while protecting American families from price hikes, an administration spokeswoman said Friday.

In bright sunshine, a long queue of shoppers snaked outside an IKEA store near Moscow this week. Similar scenes were repeated across Russia as families rushed to spend their fast-depreciating roubles at the Swedish retailer which is exiting the crisis-hit country.

Philippine President Rodrigo Duterte has signed an executive order to include nuclear power in the country’s energy mix, as authorities prepare for the phasing out of coal-fired power plants and after earlier efforts failed due to safety concerns.