The Ukrainian president’s economic adviser on Saturday played down the risks of the hryvnia devaluating further, despite the Russian invasion of the country that began on Feb. 24, Reuters reported. Oleg Ustenko told local media that Ukraine’s budget was fully funded and that the country's foreign exchange reserves of $27.5 billion would be replenished. Ukraine has secured emergency financing from the International Monetary Fund and other institutions to support its economy during the war.

Electricite de France SA forecast a deeper hit to earnings from falling nuclear output and the French government’s cap on power prices for consumers, highlighting its vulnerability to Europe’s escalating energy crisis, Bloomberg reported. EDF had already warned it would be squeezed this year, with its French atomic output dropping to a three-decade low due to reactor works. The situation has been worsened by a government decision to force EDF to sell more power at a discount and to delay part of a tariff hike for customers.

The Irish commercial court has rejected an attempt to enforce a judgment that was awarded in 2010, in a decision that one legal expert warned could have a knock-on effect for banks and other lenders, Pinsent Masons reported.

Hundreds of foreign companies have announced a partial or total withdrawal from Russia in recent weeks amid continuing fighting in Ukraine, The Bell reported. These include Apple, IKEA, McDonald’s, Microsoft, IBM, Sony, Shell, Porsche, Volkswagen, H&M, Inditex (that includes Zara, Bershka, Massimo Dutti, Pull&Bear), Procter & Gamble (that covers brands including Tide, Ferry, Pampers and Head & Shoulders), Universal, Mars, Warner and Sony Music.