Negative interest rates will soon be a thing of the past in the eurozone, the European Central Bank’s (ECB) chief signalled Monday, with the bank poised to raise rates for the first time in over a decade to tamp down soaring inflation.
ECB plans end to negative rates era as inflation soars
The energy security crisis since Russia's military operation against Ukraine must not lead to a deeper dependence on fossil fuels, International Energy Agency (IEA) chief Fatih Birol said on Monday.
IEA warns against energy crisis deepening fossil fuel reliance
The Russian rouble firmed around 4% against the dollar and euro on Monday, heading back towards multi-year highs hit last week, supported by capital controls and an upcoming month-end tax period.
Rouble gains around 4%, heading back towards multi-year highs
U.S. President Joe Biden on Monday launched a new trade deal with 12 Indo-Pacific nations as he warned Americans worried about high inflation that it was “going to be a haul” before they feel relief.
Biden launches Indo-Pacific trade deal, warns over inflation
The mood among German businesses improved in May, a key survey published Monday showed, as Europe's largest economy weathered the first impacts of Russia’s military operation against Ukraine.
German business mood recovers further in May
Iran Mercantile Exchange announced that more than 7.9 million tons of commodities, valued at over $2.6 billion, were traded in its domestic trading and export halls during the month to May 21.
IME monthly trade surpasses $2.6b
Minister of Petroleum Javad Owji said Iran agreed to form a committee with Oman to jointly develop the Hengam oilfield, which straddles their sea border.
Minister: Iran agrees to jointly develop Hengam oilfield with Oman
The Iran Statistics Center (SCI) reported a slight drop in the rate of inflation in the country in the month to May 21.
Iran’s annual inflation rate drops slightly in May to 38.7%
Iran has imposed a ban on imports of Apple phones into the country, showed a report published in the local media, amid plans by the government to control the use of hard currency resources at a time the country faces US sanctions.
Iran imposes ban on imports of Apple phones: Report
A group of millionaires have joined protests against the World Economic Forum gathering of the business and political elite in Davos, Switzerland, demanding that governments “tax us now” to tackle the burgeoning gulf between rich and poor.
Millionaires join Davos protests, demanding ‘tax us now’

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