NATO chief calls on Europe to ramp up arms production
Ahead of a key meeting of NATO defense ministers in Brussels and the second anniversary of the Russia-Ukraine war, Jens Stoltenberg insisted that "we need to reconstitute and expand our industrial base faster, to increase deliveries to Ukraine and refill our own stocks." "This means shifting from slow peacetime to...
Greece will send Iranian oil from seized ship to US: police
Greece will send Iranian oil from a seized Russian-flagged tanker to the United States at the request of the US judiciary, Greek port police said Wednesday, a decision that angered Tehran. Last month the Greek authorities seized the Pegas, which was said to have been heading to the Marmara terminal...
Oil, gas firms use Ukraine war to resist climate efforts: report
The London-based think tank InfluenceMap analyzed advertisements and declarations by the companies in the weeks before and after Russia's invasion of Ukraine on February 24.
Russian army says Mariupol steelworks ‘totally liberated’
Russia's Defense Minister Sergei Shoigu informed president Putin of "the end of the operation and the complete liberation of the (Azovstal) industrial complex and the city of Mariupol".Nearly 60 mn people internally displaced worldwide in 2021
Last year, new internal displacements from conflict surged to 14.4 million marking a 50-percent jump from 2020 and more than doubling since 2012, the report showed.Record wheat prices a global worry, put poor countries at risk of poverty
Low rainfall or droughts in major producing countries were already causing worries before Russia's invasion of Ukraine in February sent markets soaring. There are only a dozen countries that produce a lot and can export it, particularly Russia, Ukraine, the US and Australia.
UK inflation highest in 40 years on rocketing energy costs
Official data showed Tuesday that Britain's unemployment rate has fallen further to a near five-decade low, but the value of wages continues to erode as inflation soars.
US Vice President leads large team to meet new UAE leader
US Vice President Kamala Harris on Monday led a high-level delegation to meet the United Arab Emirates' new president, who takes over after his half-brother's death, following months of strained ties between Washington and the oil-rich Gulf state.Renault hands Russian assets to Moscow
Since Putin sent troops into Ukraine in late February, Renault has had difficulty keeping its operations going due to a lack of components following the imposition of Western sanctions.
Ryanair cuts annual net loss to $369 million
Ryanair expects cost increases as a result of surging oil prices fueled by the war, it hopes "to return to reasonable profitability" in its current financial year.
Asian stocks climb up, but inflation sours mood
Asian equities were up on Monday after a rally on Wall Street last week, but analysts say fears of a recession due to surging inflation and Covid-driven supply chain woes still have investors worried. World markets have been volatile for much of 2022, fueled by uncertainty over supply chain snarls
Ukraine’s key IT sector booming despite Russian invasion
Ukraine's IT sector is booming despite the Russian invasion. Workers with stickers on their laptops recline on beach chairs outside a warehouse for start-ups in the west Ukraine city of Lviv giving off major Silicon Valley vibes. Through the glass doors of the complex, young Ukrainians zig-zag between stacks of...US tells ASEAN leaders committed ‘for generations’
President Joe Biden on Friday promised a long-term commitment to Southeast Asia in the face of China's growing clout as he met regional leaders for the first summit in Washington. Biden laid out $150 million in new initiatives and announced plans for the first full US ambassador to the Association...
Siemens profits down in Q2
Russia sanctions have cut the company's earnings by 600m eurosUneasy NATO wait ahead for Finland and Sweden
Once a country has decided to apply for NATO membership, the 30 members of the alliance must agree unanimously to extend a formal invitation, which is followed by membership negotiations. Finnish Foreign Minister Pekka Haavisto has said his country Finland could become a full member of NATO by October.US inflation may have peaked, but pain continues
With surging prices undermining wage gains and hurting American families, US President Joe Biden said Tuesday that fighting inflation is his top priority, but he may have limited tools to tackle the issue. Biden, whose popularity has taken a hit amid the highest inflation in four decades, spoke on the...US First Lady Biden makes unannounced visit to Ukraine
"I wanted to come on Mother's Day" said Jill Biden while telling reporters that people from US support people of Ukraine in the war against Russian invasion.Iran’s foreign minister says Tehran ‘against’ Ukraine war
Hossein Amir-Abdollahian said that "we are against the war in Ukraine, just as we are against the war in Yemen, in Afghanistan, in Syria, in Iraq, or in any other part of the world.Russia readies Victory Day parade as fight for east Ukraine rages
Russia will celebrate its 1945 victory over Nazi Germany Monday with a show of military might as its army battles Kyiv's forces in the east of Ukraine, where 60 people were killed in an air strike on a school sheltering civilians. Ukrainian President Volodymyr Zelensky confirmed that 60 were killed...Between searing drought and the Ukraine war, Iraq watchful over wheat
Iraq will have to import wheat this year as it may only grow 2.5-3 million tons of wheat, "not enough for a whole year for the Iraqis," Agriculture ministry spokesman said.Nigerian airlines suspend flights over soaring fuel prices
The cost of fuel has soared worldwide since Russia invaded its neighbor Ukraine in February and the West responded by slapping sanctions on Moscow. The rising price of fuel has caused prolonged power blackouts in Nigeria in recent weeks.
Biden announces $150 mn more weapons for Ukraine
Biden said current funding was "nearly exhausted" and the US and its allies must "keep the weapons and ammunition flowing to Ukraine, without interruption for Ukraine to succeed."EU chief calls Spain-France gas connections ‘critical’
Last week Russia cut off gas supplies to Poland and Bulgaria as the Kremlin reacted to tightening EU sanctions.EU to propose phasing out Russian oil in new sanctions wave
The EU will propose a phased-out ban on Russian oil imports as part of a fresh round of sanctions against Russia for its invasion of Ukraine, sources said on Sunday. The European Commission, which draws up sanctions for the bloc, is currently preparing a text that could be put to...Russia admits striking Kyiv during UN chief’s visit
Russia's defense ministry said it had deployed "high-precision, long-range air-based weapons" that "destroyed the production buildings of the Artyom missile and space enterprise in Kyiv".Turkish court jails Erdogan critic Kavala for life
"The United States is deeply troubled and disappointed by the court's decision," US State Department spokesman Ned Price said in a statement.
L’Oreal luxury makeover sales glow
The company's first quarter sales jumped nearly a fifth.
As major economies meet, US looks to increase pressure on Russia
Russian officials are expected to participate remotely in this year's G20 meeting led by Indonesia.
Moroccan MPs call for cap on oil firms’ profit margins
Moroccan lawmakers on Monday called for a cap on oil firms' profit margins, describing them as "exorbitant" amid soaring fuel prices in the wake of the Ukraine war. During a plenary session with Prime Minister Aziz Akhannouch -- himself the owner of the main fuel distributor in the kingdom --...Russians flee Putin regime to join Ukraine refugees in Israel
The wave of immigration from Ukraine and Russia over the past seven weeks is the largest Israel has seen since the early 1990s, when the collapse of the Soviet Union was falling apart as Russia's neighbors declared independence.Russian flagship sinks after Kyiv claims missile hit
Russia's Black Sea flagship sank on Thursday after an explosion and fire that Ukraine claimed was a successful missile strike, as the Kremlin accused Kyiv of targeting its citizens in sorties across the border. The Moskva missile cruiser had been leading Russia's naval effort in the seven-week conflict.World Bank warns of bleak economic outlook for Ukraine, region
The conflict also has caused prices of grains and energy to soar.Ukraine invasion places sharp new focus on calls for UN reform
Experts say the chances of reforms will remain slim so long as the permanent members refuse to accept any dilution of their power.Rising prices threaten Petrobras
It is caught in a political tug of war, with the president on one side.Rich nations to tap 120m barrels from emergency oil reserves: IEA
The IEA members which include the United States, European countries, Australia and Japan, among others had already pledged last month to release 62.7 million barrels of oil.
Ukraine war, energy crisis force UK into fossil fuels rethink
Boris Johnson's government will consult with local communities to host onshore wind farms in return for "guaranteed lower energy bills," after the UN warned that investing in fossil fuels would be equated with 'moral and economic madness'.Oil prices sink as US taps reserves, equities fall
President Joe Biden will announce later on Thursday the release of a record million barrels of oil a day for about 180 days from US strategic stockpiles.
Israeli PM tests positive for Covid after Blinken talks
Israeli PM who also visited the northern Israeli city of Hadera on Sunday after gunmen shot dead two police officers.NATO not seeking regime change in Russia: Scholz
The German chancellor's comments follow remarks by French President Emmanuel Macron, in which he warned against verbal 'escalation' with Russian President Vladimir Putin.US top diplomat in Israel for landmark Arab talks
According to US officials, discussion over the nuclear deal with Iran and global wheat shortage caused by the Ukraine war are among the main agenda of this trip of the US Secretary of State.How Ukraine war left China’s ‘Nickel King’ on hook for billions
The nickel market is dominated by a handful of players, including Tsingshan, founded by Xiang Guangda.
New world order? Pandemic and war rattle globalization
According to a professor at Ghent Institute, the pandemic did not bring radical changes in terms of reshoring but the conflict between Russia and Ukraine will have an impact on investors.Ukraine war hits VW ops
A 150-strong task force is working feverishly to keep supply flowing.Arabs denounce ‘double standard’ of Russia sports bans
Palestinian midfielder Mohamed Rashid said, 'It makes us feel like our lives are cheaper than the lives of those in the West,' as the world stands in solidarity with Ukraine but stayed silent over wars in Palestine, Yemen, and Syria.Ukrainian filmmaker says fighting ‘not like the movies’
Instead of being behind a camera, the winner of the EU's Sakharov rights prize has signed up as a territorial defense volunteer to fight back Moscow's invasion.
EU split over Russia oil sanctions in face of ‘war crime’
The EU foreign and defense ministers meeting in Brussels did give the green light to doubling a financial package for arms to Ukraine to 1 billion euros.Russian oligarch Abramovich’s superyacht docks in Turkey
Abramovich was among the individuals listed under new sanctions adopted by the European Union last week.LNG projects in the Gulf of Mexico boosted as Russian gas alternative
The White House had earlier said that "federal policies are not limiting the production of oil and gas."Fed set to raise interest rates to rein in inflation
The Federal Reserve will have to walk a tightrope to ensure its efforts don't derail the recovery from the Covid-19 pandemic.Warsaw seeks NATO ‘peace mission’ to help Ukraine
Polish Prime Minister Mateusz Morawiecki again called on the EU to "very quickly give Ukraine candidate status".
Iran says US made ‘new demands’ in nuclear talks
Tehran is locked in negotiations with world powers to revive the nuclear deal that offered it sanctions relief in return for curbs on its atomic programme.
