China and Nepal study feasibility of cross-border power grid

China and Nepal will conduct a feasibility study to construct a high-voltage power transmission line across the Himalayas to facilitate the exchange of electric power, officials said on Saturday.
27 March 2022, 18:00 PM

Kuwait-Saudi deal to develop gas field illegal: Iran

Iran on Saturday branded  “illegal” a deal reached between Kuwait and Saudi Arabia to develop a disputed gas field in the Gulf, insisting on its right to also exploit it.
27 March 2022, 18:00 PM

Russian sanctions could be lifted with Ukraine withdrawal: UK

British foreign minister Liz Truss says sanctions imposed on Russian individuals and companies could be lifted if Russia withdraws from Ukraine and commits to end aggression, the Telegraph newspaper reported on Saturday.
27 March 2022, 18:00 PM

Pandemic and war rattle globalisation

Globalisation, which has both fans and detractors alike, is being tested like never before after the one-two punch of Covid and war.
27 March 2022, 18:00 PM

Samsung chief’s mother sells stakes to pay taxes

Hong Ra-hee, Samsung Electronics Vice Chairman Lee Jae-yong’s mother, reportedly sold her shares in the company worth 1.3 trillion won ($1.06 billion) in a block trade Wednesday, the latest stake sale by the Samsung family being carried out apparently to pay inheritance taxes.
27 March 2022, 18:00 PM

China industrial profit up but mired in single-digit growth

Profit growth at China’s industrial firms accelerated in the first two months of the year in line with other signs of momentum in the economy, although the outlook is clouded by domestic Covid-19 outbreaks and the war in Ukraine.
27 March 2022, 18:00 PM

US durable goods end streak of gains in Feb

Orders for big-ticket manufactured goods fell for the first time in five months in February amid a slump in business for civilian aircraft manufacturers, US government data said Thursday.
26 March 2022, 18:00 PM

Gas bills in roubles are just days away

Russia warned the West on Friday that billing in roubles for billions of dollars of natural gas exports to Europe could be just days away, Moscow’s toughest response yet to crippling sanctions imposed by the West for the invasion of Ukraine.
26 March 2022, 18:00 PM

Sri Lanka fuel prices soar as economy reels

One of Sri Lanka’s biggest fuel suppliers hiked the price of gasoline by nearly 20 per cent on Saturday, the second increase in as many weeks, as the country struggles to import oil without dollars.
26 March 2022, 18:00 PM

Ukraine war knocks German business confidence

The business climate in Europe’s top economy worsened in March, German survey data showed Friday, amid fears over soaring energy prices and deepening supply chain woes due to the Ukraine invasion.
26 March 2022, 18:00 PM

Bitcoin price boosted by possible Russia gas payment

Bitcoin on Friday rose above $45,000, boosted by talk that the Kremlin could accept the world’s biggest cryptocurrency in exchange for Russian gas.
26 March 2022, 18:00 PM

UK consumer confidence nosedives

UK consumer confidence  “continues to nosedive” as surging inflation causes a cost-of-living crisis, a survey revealed Friday, as the government faces pressure to better ease the financial pain.
26 March 2022, 18:00 PM

China’s Sinopec pauses Russia projects

China’s state-run Sinopec Group has suspended talks for a major petrochemical investment and a gas marketing venture in Russia, sources told Reuters, heeding a government call for caution as sanctions mount over the invasion of Ukraine.
26 March 2022, 18:00 PM

How European rulings imperil flagship Google product

Lax laws and sweetheart deals are becoming a thing of the past for big tech firms, particularly in Europe where a series of rulings is posing a major threat to one of Google’s flagship products.
26 March 2022, 18:00 PM

Gas buyers puzzle over Putin’s demand for payment in rouble

Asian importers of Russian gas were scrambling on Thursday after Russian President Vladimir Putin said “unfriendly” countries must pay for Russian gas in roubles, in the latest jolt to global energy markets after Moscow’s invasion of Ukraine.
24 March 2022, 18:00 PM

Shell to invest $33b in UK energy sector

Shell will invest up to 25 billion pounds ($33 billion) into the energy system in Britain over the next decade, a senior executive at the oil major said, and over 75 per cent of which will be funnelled into zero-carbon products and services.
24 March 2022, 18:00 PM

Eurozone growth slows as war threatens recovery

Business activity in the eurozone slowed in March, according to a closely watched survey, as high prices and a gloomy outlook raised fears the Ukraine war could snuff out economic recovery.
24 March 2022, 18:00 PM

US, UK to end steel, aluminum tariffs

The United States on Tuesday announced an agreement with Britain to end tariffs on steel and aluminum imports imposed by former president Donald Trump in 2018 on national security grounds.
23 March 2022, 18:00 PM

Can firms leaving Russia recoup losses through insurance?

Hundreds of companies have said they are withdrawing or suspending operations in Russia after its invasion of Ukraine, from energy producer Shell Plc to carmaker Hyundai Motor Co to PwC, a global professional services firm.
23 March 2022, 18:00 PM

China to boost renewable power

China aims to increase renewable power, maintain crude oil output and boost natural gas production, as it seeks to balance energy security and achieve its climate change goals.
22 March 2022, 18:00 PM