آرشیو

Lebanon, Syria, Egypt sign gas import agreement

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.

Bank of Finland sees growth slowdown, inflation surge

Finnish economic growth will come close to a halt next year while inflation is set to stay high as Russia's military operation in Ukraine takes a toll, the Bank of Finland said on Tuesday.

Sanctioned Russia becomes China's main source of oil

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.

Turkish lira rally reined in as investors question lending curbs

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.

European stocks hit two-week high as commodities rebound

European shares on Monday jumped to their highest level in two weeks, underpinned by miners and oil stocks, as an easing of COVID-19 restrictions in China boosted commodity prices.

Oil up more than $1 but set for second weekly drop on recession fears

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 central bank makes largest rate hike in two decades

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.

UK inflation hits 40-year record, highest in G7

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 PM says economy ‘has collapsed’

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 electricity firm seeks 835% price rise

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.