Lebanon, Syria and Egypt on Tuesday agreed to ship 650 million cubic metres of natural gas per year from Egypt to Lebanon via Syria, in an effort to address Lebanon's crippling blackouts with electricity and gas transfers.
China ramped up crude oil imports from Russia in May, customs data showed Monday, helping to offset losses from Western nations scaling back Russian energy purchases over its military operation in Ukraine.
The lira firmed versus the dollar on Monday then lost some of its gains as investors raised questions about Turkey's latest move to boost the currency by restricting lira lending to many companies with more than $1 million in forex.
Oil rose by more than $1 a barrel on Friday supported by tight supply, although crude was heading for a second weekly fall on concern that rising interest rates could push the world economy into recession.
Norway's central bank raised its benchmark interest rate by 50 basis points on Thursday, its largest single hike since 2002 and did not rule out making further increases of this size as the country seeks to control inflation.
Soaring food prices pushed British consumer price inflation to a 40-year high of 9.1% last month, the highest rate out of the Group of Seven countries and one which underlines the severity of the country's cost-of-living crunch.
Sri Lanka’s debt-laden economy has “collapsed” after months of shortages of food, fuel and electricity, its prime minister told lawmakers Wednesday, in comments underscoring the country’s dire situation as it seeks help from international lenders.
Sri Lanka's heavily loss-making state-run electricity monopoly asked for a shocking price rise of over 800 percent for its poorest customers with the bankrupt nation out of fuel, regulators said Monday.