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

China to host virtual BRICS summit

Chinese President Xi Jinping will host a virtual summit with top leaders from Russia, India, Brazil and South Africa next week, marking the first such meeting since the Ukraine crisis unfolded.
19 June 2022, 18:00 PM

Fed official supports another big rate hike

Federal Reserve Governor Christopher Waller on Saturday threw his support behind another large interest rate increase next month.
19 June 2022, 18:00 PM

Russian institutions in rare public discord over economy

Russia’s economic authorities have clashed over inflation and growth forecasts in rare public displays of discord at a flagship forum in Saint Petersburg.
19 June 2022, 18:00 PM

Central banks walk inflation-recession tightrope

Central banks have ramped up their battle against runaway inflation, a necessary remedy that could have the adverse side effect of tipping countries into recession, analysts say.
19 June 2022, 18:00 PM

Germany to take emergency measures

Germany will take emergency measures to ensure it meets its energy needs after the drop in supply of Russian gas, including increased use of coal, the government said Sunday.
19 June 2022, 18:00 PM

Firms in China teeter under zero-Covid pressure

Fiona Shi lost her job twice during the pandemic -- first, in 2020 when Covid ravaged the travel industry, and then this year as China’s strict virus controls hammered businesses in the world’s number two economy.
19 June 2022, 18:00 PM

Russia putting world at famine risk

Russia is putting the world at risk of famine through its blockade of Ukraine’s shipments of grains and restrictions on its own exports, EU foreign policy chief Josep Borrell said Saturday.
19 June 2022, 18:00 PM

Mexico signs renewable energy deals with US firms

Mexico has made commitments with 17 US companies on clean energy generation, its president announced Friday.
18 June 2022, 18:00 PM

Venezuela resumes oil export to EU after 2 years

A 650,000-barrel-cargo of Venezuela’s oil chartered by Italy’s Eni is about to set sail carrying the first export of crude from the US-sanctioned country to Europe in two years, Refinitiv Eikon data showed on Friday.
18 June 2022, 18:00 PM

Is recession the only way out of US inflation scourge?

A massive interest rate hike by the US Federal Reserve and promises of more to come are fueling warnings that the only offramp from the searing price hikes engulfing American families is a full-blown recession.
18 June 2022, 18:00 PM

Ukraine war not behind rising global inflation

Russian President Vladimir Putin said Friday that Moscow’s military intervention in Ukraine was not the cause of global economic troubles, instead blaming Western countries for using the situation to cover up their own mistakes.
18 June 2022, 18:00 PM

Germans turn to food banks as inflation bites

German pensioner Gabriele Washah waits in line to fill her trolley with bags of carrots for 50 cents, yoghurts just past their sell-by date and bunches of wilting flowers.
18 June 2022, 18:00 PM

EU, India relaunch FTA talks

The European Union and India on Friday relaunched negotiations to forge a free trade agreement, with the aim of completing talks by the end of 2023.
18 June 2022, 18:00 PM

Bitcoin hits 18-month low

Bitcoin dropped below $20,000 on Saturday to its lowest level in 18 months, extending its slide as investors pull back from riskier assets amid rising interest rates.
18 June 2022, 18:00 PM

Fed vows unconditional inflation war

The Federal Reserve, fresh from its biggest interest rate hike in more than a quarter of a century, signaled on Friday that the rising risk of recession will not stop its battle to bring down searing inflation that’s punishing American households.
18 June 2022, 18:00 PM

Bitcoin drops below $20,000, lowest since December 2020

Bitcoin dropped below the $20,000 level on Saturday to its lowest point in 18 months, extending its slide as investors showed they were unnerved by growing troubles in the industry and as the general pull-back from riskier assets continued.
18 June 2022, 15:30 PM