Recent developments spark concerns that the conflict, which is spreading across the region, presents a long-term threat to global energy and commercial infrastructure.
Month after predicting contraction, IMF expects UK economy to grow
The IMF said the 2023 upgrade reflected "higher-than-expected resilience" in both demand and supply, alongside improved confidence in reduced post-Brexit uncertainty as well as lower energy costs.
IEA calls special meeting as gas crisis ‘not over’
IEA Executive Director Fatih Birol said the measures taken following Russia's invasion of Ukraine helped European nations whether Russia cutting off most of its gas supplies. The IEA said the meeting is expected to identify and endorse measures to improve the balance between gas supply and demand.
Russia exit, soaring costs hit H&M
The company reported a big drop in profits in 2022.Two years after EU exit, UK business feels Brexit blues
Complicating matters has been the loss of EU workers in sectors such as health, hospitality and agriculture, even if some of those returning home have been replaced by staff from non-EU countries. Witnessing the fallout, some high-profile bosses who voted for Brexit are calling on the government to relax the...Euro hits 20-year low against dollar amidst economic uncertainties
The euro fell 0.70 percent to 0.9884 dollars Monday at 0535 GMT, its lowest since December 2002. The European currency has continued to weaken against the dollar since the start of the year, hammered by economic turbulence and uncertainties sparked by Russia's invasion of Ukraine.
OPEC+ agrees small oil output rise despite Biden plea
The cartel led by Saudi Arabia and Russia decided to raise production by 100,000 barrels per day for September, much lower than previous increases, according to a statement issued after a ministerial videoconference. Oil prices seesawed following the announcement, rising before falling more than two percent in afternoon trading, with...Soaring food prices stoke inflation worries for KSA
Saudi Arabia may see a rise in inflation as global food and energy prices surge amidst the ongoing Russia-Ukraine war, Alexander Perjessy of Moody’s Investors Service tells TRENDS.
High energy prices put more pressure on Turks
When temperatures plunged well below freezing in Ankara and energy prices soared, Dondu Isler had to make a tough choice to both stay warm and keep her soaring utility bills down. She turned off the heating in two bedrooms of her apartment. "Only the living room and the kitchen were...Look beyond subsidies to fight high energy prices: IMF
Governments should avoid using general subsidies as a way to soften the blow from recent high energy prices, said Paulo Medas from the IMF's Fiscal Affairs Department. Broad subsidies are expensive, so policymakers instead should use targeted aid to help low-income families, he added.
