G7 considering ways of capping Russian oil price

Leaders of the Group of Seven rich democracies are having “very constructive” discussions on a possible cap on Russian oil imports, a German government official said on Saturday shortly before the start of the annual three-day G7 summit.
26 June 2022, 18:00 PM

Europe’s aviation industry frets despite strong summer start

Air traffic is booming this summer, but after European vacations are over will passenger demand hold up? The question was the focus of the annual congress of the Airports Council International (ACI) Europe in Rome this week, held at the cusp of the approaching peak season.
26 June 2022, 18:00 PM

French energy giants urge consumers to cut back on use

Consumers should start cutting back on their energy use immediately, the bosses of France’s three big energy companies urged Sunday, warning of social tensions next winter unless reserves are replenished.
26 June 2022, 18:00 PM

India plans safety rating system for passenger cars

India will introduce a safety rating system for passenger cars - a measure it hopes will encourage manufacturers to provide advanced safety features and will boost the “export worthiness” of vehicles produced in the country.
26 June 2022, 18:00 PM

Singapore eases movement curbs for migrant workers

Migrant workers in Singapore no longer need special permission to leave their dormitories from Friday, after two years of coronavirus curbs, but campaigners criticised the decision to maintain some  “discriminatory” restrictions.
25 June 2022, 18:00 PM

Japan inflation hits 7-year high

Japan’s core consumer prices jumped 2.1 per cent again in May, the second consecutive monthly jump of a level not seen in seven years, official data showed Friday.
25 June 2022, 18:00 PM

Norway raises rate to combat inflation

Norway’s central bank announced Thursday a sharper-than-expected interest rate hike and warned of more to come, as policymakers tighten monetary policies worldwide to fight surging inflation.
23 June 2022, 18:00 PM

SHV Energy to enter local LPG market

Global off-grid energy distributor SHV Energy is set to enter Bangladesh’s growing market for liquefied petroleum gas (LPG) by acquiring local bottler and marketer, Petromax LPG.
23 June 2022, 18:00 PM

Germany declares gas crisis, blames Russia of "economic attack"

Germany triggered the "alarm stage" of its emergency gas plan on Thursday in response to falling Russian supplies but stopped short of allowing utilities to pass on soaring energy costs to customers in Europe's largest economy.
23 June 2022, 13:25 PM

Oil prices plunge more than 5pc on recession fears

Oil prices plunged more than five percent Wednesday as traders grow increasingly worried that demand for the commodity will take a hit from a possible recession caused by a sharp hike in interest rates aimed at reining in inflation.
22 June 2022, 18:00 PM

EU vows €600m for Africa, others

The European Union on Tuesday pledged an additional 600 million euros to help vulnerable nations weather a food security crisis worsened by Russia’s war on Ukraine.
21 June 2022, 18:00 PM

Luxury market growing despite rise in fuel, energy prices amid Russia-Ukraine war

Neither inflation nor the war in Ukraine are threatening to take a bite out of the luxury fashion market, according to a study.
21 June 2022, 16:40 PM

Recession looms over German economy amid Russian gas crisis

Germany faces certain recession if already faltering Russian gas supplies completely stop, an industry body warned on Tuesday, as Italy said it would consider offering financial backing to help companies refill gas storage to avoid a deeper crisis in winter.
21 June 2022, 13:43 PM

Turkish central bank’s net forex reserves around $7 bn, a 20-year low

The Turkish central bank’s net foreign currency reserves fell to a 20-year low of around $7 billion last week, according to calculations by four economists based on preliminary data.
21 June 2022, 13:03 PM

China keeps key lending rates unchanged

China stood pat on its benchmark lending rates for corporate and household loans, as expected, on Monday, with global central banks’ rate increases making it tough for Beijing to stimulate a weak domestic economy by lowering rates.
20 June 2022, 18:00 PM

Crypto industry fears contagion as bitcoin plunges

The cryptocurrency industry was on edge on Monday as bitcoin held just above $20,000 and investors feared that problems at major crypto players could unleash a wider market shakeout.
20 June 2022, 18:00 PM

Russia now China’s biggest oil supplier

China’s imports of oil from Russia in May rose 55 per cent year on year, customs data showed on Monday, with the West sanctioning fuel imports from Moscow over its invasion of Ukraine.
20 June 2022, 18:00 PM

Ukrainian refugees could ease eurozone labour crisis: ECB

The influx of Ukrainian refugees into the European Union could gradually ease labour shortages in the euro zone as some of those fleeing the war are likely to settle permanently, the European Central Bank said on Monday.
20 June 2022, 18:00 PM

Russia gas squeeze threatens Europe’s stockpiling plans

With France becoming the latest country to be cut off from Russian natural gas, and supplies sharply reduced in Italy and Germany, Europe’s summer stockpiling plans are looking shaky.
19 June 2022, 18:00 PM

Problems soar for airlines despite pandemic recovery

Desperate to put the coronavirus pandemic behind them, airlines will hold talks on Sunday ahead of a potential summer of chaos with shortages and strikes that could threaten their recovery.
19 June 2022, 18:00 PM