News Snapshot:
A Shenzhen-based smartphone maker said it is relying on yuan payments to maintain its operations in Russia, becoming the first Chinese tech firm to reveal how it is maintaining business continuity there after Western countries imposed harsh financial sanctions on Moscow following its invasion of Ukraine. Transsion Holdings, a budget smartphone maker, said in a message to investors that they have started settling transactions in Chinese yuan to manage potential risks when asked about the impact of sanctions on Russia. It did not elaborate. The company said that the Russian market only makes up a small share of its overall...
