Berlin, Germany - Germany on Friday said it had filled its gas reserves to 95 percent of capacity faster than expected as it prepares for a winter deprived of Russian energy supplies. Europe's largest economy had been heavily dependent on Russian gas and has raced to bolster its reserves after...

Large US banks reported a round of solid quarterly profits, but cautioned of rising recession risks as the economy absorbs higher inflation and a dramatic shift is central bank policy. JPMorgan Chase set aside US$808 million in case of bad loans, while Citigroup reserved for $370 million in potential losses...

Russian oil giant Rosneft has filed a complaint against the German government for taking control of its German-based refineries, a court said, as energy tensions run high following Moscow's war in Ukraine.

The fund's comments, in its latest Fiscal Monitor report, come as food prices have surged by half since 2019 while energy bills have soared in the wake of Russia's invasion of Ukraine. Countries spent heavily to protect their economies during the pandemic, then faced supply chain issues as they emerged...

UAE President Sheikh Mohamed bin Zayed Al Nahyan has called for peace during his meeting with Russian President Vladimir Putin in Saint Petersburg. He said that by engaging in "dialogue, negotiation, and diplomatic mechanisms, a political settlement can be reached that will achieve international peace and security."

Seeking new exporters of gas to the continent, European Union's energy commissioner has hailed a "long-term strategic partnership" with Algeria as it turns to Africa's biggest gas supplier to fill a gap left by Russian supplies. Europe's search for gas has become ever more urgent as winter approaches.

Stock markets and oil prices slumped as investors grow fearful that more big interest rate hikes will tip economies into deep recessions. The mood darkened also on the worsening Ukraine war and weaker demand expectations in China. Analysts said US consumer price index data released later this week will be...

Rail operator Deutsche Bahn blamed the travel disruptions on "sabotage", while Transport Minister Volker Wissing spoke of "a targeted and deliberate action".

Frankfurt, Germany— Germans in the coastal state of Lower Saxony vote in a closely-watched regional election Sunday, seen as a key test for Chancellor Olaf Scholz's Social Democrats amid an acute energy crisis. Polls open at 8:00 am (0600 GMT) and close at 18:00, with latest surveys putting Scholz's centre-left SPD...

The package will help meet Ukraine's "urgent balance of payment needs... while playing a catalytic role for future financial support from Ukraine's creditors and donors," the IMF said in a statement adding the scale and intensity of Russia's war against Ukraine that started more than seven months ago have caused...

World food prices have fallen for a sixth month in a row in September, UN data showed as they continued to fall after a record reached after Russia's invasion of Ukraine. The Food and Agriculture Organization said its price index, which tracks monthly change in global prices of food commodities,...

EU leaders meeting in Prague looked to bridge divisions on how to tackle soaring energy prices as they grapple with the fallout from Russia's war on Ukraine. President Volodymyr Zelensky was dialling in from Kyiv as the bloc looks to maintain its economic and military support for Ukraine and hold...

With US inflation soaring new heights, the country's central bank has said more increases are likely to come this year in order to cool the world's largest economy and rein in high prices. Federal Reserve Governor Lisa Cook said 'inflation remains stubbornly and unacceptably high.'

Amid crippling energy shortages, the British government is negotiating with Qatar and Norway to secure new long-term gas contract, according to media reports. The reports said that Prime Minister Liz Truss is in favor of the deal, which would secure long-term energy sources and cut down the cost of the...

The latest package -- the eighth since Russia's invasion in February -- is now going through a final approval procedure which, if no objections emerge, will be published and come into effect on Thursday, the Czech Republic's EU ambassador said.

Germany pushed back against critics of a 200-billion-euro ($198-billion) energy fund, as Berlin faces fresh accusations it is going it alone in helping citizens face a historic price shock.

Banks in the country, mired in an economic crisis for more than two years, partially reopened last week under strict security after a week-long closure following a slew of heists by customers desperate to access their money. Banks started imposing draconian restrictions on withdrawals after Lebanon's economy collapsed in 2019.

Europe must ramp down gas consumption to survive the winter given perilously low stocks amid fears of a total cut off of Russian supplies, the International Energy Agency said.

Turkey's foreign minister signed a deal in Libya's capital Monday allowing for oil and gas exploration in 'Libyan waters'.

The presidents of the countries issued a joint statement saying they could not "stay silent in the face of the blatant violation of international law by the Russian Federation". "We reiterate our support for the sovereignty and territorial integrity of Ukraine," they said.

"The toll of destruction, damage, and dislocation in Ukraine is staggering and continues to grow," Anna Bjerde, the bank's regional vice president for Europe and Central Asia, said in the statement.

Stoked by a staggering 40.8 percent rise in energy prices, the yearly inflation rate in the 19-country single currency area hit its highest level since records began, according to Eurostat. The historic level of inflation will encourage the European Central Bank to stay on its current path of rate hikes.

The EU's executive proposed a new round of sanctions on Moscow over its latest "escalation" in Ukraine, including an oil price cap and ban on Russian exports worth $7 billion. It also plans to expand its travel blacklist and asset freezes to include high-ranking Russian officials and organizers of the...

Russia has sought an explanation from US President Joe Biden on three reported gas leaks on the Nord Stream pipelines, carrying gas to Europe from Russia. Foreign ministry spokeswoman said on social media that on February 7, 2022 Joe Biden said that Nord Stream would be finished if Russia invaded...

The world economy will take a bigger hit than previously forecast next year due to the effects of Russia's war in Ukraine, the OECD said. In a bleak report titled "paying the price of war", the Paris-based organization noted that the conflict aggravated inflationary pressure when the cost of living...

A Moroccan prisoner of war released as part of an exchange between Moscow and Kyiv said he wanted to draw attention to the "struggle" of Ukraine as he returned home.

Moscow replaced its top logistics general after setbacks as Kremlin-held regions of eastern and southern Ukraine voted for a second day on becoming part of Russia. The change comes amid a mobilization drive by Russia after the Ukraine invasion revealed logistical difficulties, with Kyiv taking back some territory.

Last April, Italy entered into an agreement with Algeria to increase imports through the Trans-Med pipeline.

"Those who are trying to blackmail us with nuclear weapons should know that the wind can also turn in their direction," Putin said, adding: "This is not a bluff." However analysts aren't convinced the Russian president is willing to be the first to unleash nuclear weapons since the US bombed...

"Defending Ukraine’s sovereignty and territorial integrity is about much more than standing up for one nation’s right to choose its own path, fundamental as that right is.  It’s also about protecting an international order where no nation can redraw the borders of another by force," he adds.

The figure was equivalent to five times Ukraine's annual GDP before the invasion in February, Oleg Ustenko, economic advisor to President Volodymyr Zelensky, said at an event hosted by the German Council on Foreign Relations in Berlin.

Britain lifted England's moratorium on controversial gas fracking to boost energy security, despite breaking the ruling Conservative party's manifesto pledge.

Hungarian Prime Minister Viktor Orban wants EU sanctions on Russia over its invasion of Ukraine lifted by year end, a pro-government daily newspaper said. Orban, who has sought close ties with Russian President Vladimir Putin in recent years, has frequently railed against the sanctions, saying they are hurting Europe more...

Over 100 countries have signed on to the Roadmap for Global Food Security. Many are already acting on those commitments. Action is crucial because the current crisis is one that no individual country or even group of countries can solve alone. We have to get emergency aid to the people...

The White House said food supplies are being dangerously disrupted by "the compounding impacts of the pandemic, the deepening climate crisis, rising energy and fertilizer costs, and protracted conflicts -- including Russia's invasion of Ukraine."

Equities around the world have been clattered by fears of a recession in major economies as central banks ramp up borrowing costs to combat the highest inflation in decades, which has been compounded by the Ukraine war and supply chain snarls.

China's growth forecast for 2022 was reduced to 3.3 percent from 5.0 percent, as Beijing pursues a zero-Covid strategy that has devastated the world's second-largest economy. Chinese officials are under pressure to curb even the smallest virus outbreaks swiftly, ahead of a key political meeting in October where President Xi...

Turkish President Recep Tayyip Erdogan called for a "dignified way out" of the seven-month crisis sparked by Russia's invasion of Ukraine.

Putin accused the European Union of blocking 300,000 tons of Russian fertilizer from reaching the world's poorest countries. "Our offer... to transfer for free 300,000 tons of Russian fertilizer blocked in European ports because of sanctions to countries that need it is still without an answer," he said.

UN Secretary-General Antonio Guterres warned Monday that unequal education was quickly dividing the planet as he sought to keep development on the agenda ahead of a week of diplomacy focused on global crises. The UN chief called a special summit on education a day before world leaders meet for the...

With recent data showing US inflation rooted at four-decade highs, investors are increasingly pessimistic about the outlook for the global economy. Some observers have warned of a sharp recession in many countries caused by the huge rate increases, which are hitting families in the pocket.

US President Joe Biden has warned his Russian counterpart Vladimir Putin against using chemical or tactical nuclear weapons due to his losses in Ukraine . "Don't. Don't," Biden said, in an excerpt from an interview with CBS. Biden was responding to a question about the possibility of Putin resorting to...

But cracks in summit solidarity quickly appeared, with India's prime minister telling Putin it was "not the time" for the conflict in Ukraine. Adding to the tension, the forces of two countries - Kyrgyzstan and Tajikistan - engaged in fierce border clashes while their leaders were in attendance.

Berlin took control of the German operations of Russian oil firm Rosneft to secure energy supplies which have been disrupted after Moscow invaded Ukraine. Rosneft's German subsidiaries, which account for about 12 percent of oil refining capacity in the country, were placed under trusteeship of the Federal Network Agency, the...

Energy-guzzling Data centers or bit barns across Europe are facing the heat because of energy shortage sparked by the Ukraine-Russia conflict. Activists have also raised concerns about the "lack of transparency about what is actually being stored in these data centers".

The energy giant's H1 net profit rose to $7.2 billion.

Toxicity and false claims are a "significant threat" at TikTok, which is becoming a go-to online venue for young people to search for information, according to a study by NewsGuard, a media watchdog. NewsGuard describes itself as a "journalism and technology tool" that rates the credibility of websites and online...

In the EU's electricity market, the price is based on the last source used to meet demand -- often a gas-fired power plant -- and that is applied to all electricity operators, regardless of whether they use nuclear, hydro-power, solar or other sources.

Russia said visas had been issued for Foreign Minister Sergei Lavrov and members of his delegation to attend the UN General Assembly at UN headquarters in New York from September 20 to 26. Moscow had earlier expressed alarm that US entry visas had not been issued for 56 representatives of...

Norway, which has replaced Russia as Europe's leading supplier of natural gas, dashed the hopes of EU member states who wanted a cap on gas prices. After his phone call with European Commission President Ursula von der Leyen, Norway's Prime Minister Jonas Gahr Store said he was "skeptical" about a...