US President Joe Biden and his counterparts from the world's most industrialized nations are gathering at Elmau Castle in the Bavarian Alps before they continue on to Madrid for talks with NATO partners.

Leaders of the Group of Seven rich nations will be under pressure to stick to climate pledges in Bavaria from Sunday, as Russia's energy cuts trigger a dash back to planet-heating fossil fuels. Germany finds itself in an awkward position as G7 summit host, having recently announced that Europe's biggest...

G7 leaders including US President Joe Biden gather on Sunday in southern Germany, seeking emphatic backing for Ukraine against Russia's invasion while grappling with the intensifying global fallout of the war. Ahead of the talks, British Prime Minister Boris Johnson urged allies not to waver in their support.

Leaders at the upcoming G7 summit in Germany will announce new measures aimed at pressuring Russia over its invasion of Ukraine, a senior US official said Wednesday.

The market benefited from an exuberant 2021 holiday shopping season across the regions, with a seven percent increase over the same period in 2019.

Inflation is making an unwelcome comeback globally -- stoked by high energy and food prices, driven largely by Russia's invasion of Ukraine, a major wheat producer, and by related sanctions on Moscow. But Iran has been wrestling with rampant price growth for years, exceeding 30 percent annually every year since...

Eni will own a stake of just over three percent in the $28 billion North Field East project, the world's biggest natural gas field, said Qatar's Energy Minister Saad Sherida al-Kaabi, who is also president and CEO of state-owned Qatar Energy. France's TotalEnergies was its first, and largest, foreign partner...

As Saudi Arabia's Crown Prince Mohammed bin Salman prepares to mark five years as de facto leader, he is finally arriving on the world stage, getting a boost of sorts with the arrival of US President Joe Biden next month. Biden's trip - after Russia's invasion of Ukraine sent oil...

Petrol prices rose to record highs in Morocco on Thursday, fuelling anger among unions who demanded the government of energy tycoon Aziz Akhannouch act to protect consumers. Drivers in Morocco, which relies heavily on imported oil products whose prices have soared since Russia's invasion of Ukraine, must now pay 18...

Russia's war in Ukraine has pushed global displacement numbers above 100 million for the first time, and the UN warns the resulting hunger crisis could force many more to flee their homes.

Russia's Gazprom told Eni it would cut its gas supply by around 15 percent for Wednesday, the Italian energy giant said, amid tensions between Moscow and the West following its invasion of Ukraine. "Eni confirms that Gazprom has announced a limited reduction in gas supplies for today, amounting to around...

He was Vladimir Putin's first prime minister but Mikhail Kasyanov never in his worst nightmares imagined that his former boss would unleash a full-scale war on Ukraine. Speaking to AFP in a video interview, Kasyanov, Russia's prime minister from 2000 to 2004, said he expected the war could last up...

The WTO is hoping to keep criticism of Russia's war in Ukraine to the first day of talks, when many of the more than 100 ministers due to attend are expected to issue blistering statements.

The US fast-food giant announced on May 16 that it would exit Russia in the wake of its Ukraine offensive.

The company's net profit increased by 80 percent

India's central bank on Wednesday hiked rates for a second time in as many months, as Asia's third-largest economy reels from galloping inflation in the wake of the Ukraine war.

Russian Foreign Minister Sergei Lavrov began a two-day visit to Turkey on Tuesday for talks on unblocking grain exports from Ukraine, which have been stalled by Moscow's offensive. The plane carrying Lavrov landed at the airport in the Turkish capital Ankara, an AFP photographer saw.

Iraq's State Organization for Marketing of Oil (SOMO) has said it approached France about the possibility of Iraq's supplying the European market with oil. The Organization's General Manager Alaa Al-Yasiri said that French parties concerned with the possibility of being supplied with oil have been addressed but gave no further...

The planned delivery of new US weapons to Ukraine, including advanced missile systems, increases the risk of drawing the United States into direct conflict with Russia, Moscow said Wednesday. On Tuesday, Washington said it will be supplying Ukraine with advanced missile systems, including the Himars multiple-launch rocket system.

A withering drought and poor harvests plus price hikes fueled by the war in Ukraine are threatening Morocco's fragile economic recovery.

Russian Foreign Minister Sergei Lavrov said Tuesday it was up to the West and Kyiv to resolve a growing global food crisis provoked by the conflict in Ukraine. Russia's offensive in Ukraine and Western sanctions have disrupted deliveries of wheat and other commodities from the two countries, fuelling concerns about...

Looping in the air at lightning speed, Turkish drones like those used against Russian forces in Ukraine draw cheers from the crowd at an air show in Azerbaijan. Turkey is showcasing its defence technology at the aerospace and technology festival "Teknofest" that started in Azerbaijan's capital Baku this week.

Tokyo stocks opened higher on Thursday following gains on Wall Street, despite ongoing worries over inflationary pressure due to the war in Ukraine. Global markets perked up after the US Federal Reserve released its minutes in which policymakers, as investors expected, agreed that they need to raise rates by 50...

Entrepreneurs, lawyers and art dealers are among those flocking to the financial hub in the oil-rich United Arab Emirates, which had refused to join a UN Security Council vote condemning Russia's war.

India said it has capped sugar exports to safeguard its own supplies and ease inflation, days after a ban on wheat shipments sent global prices soaring in the wake of the Ukraine war.

Russia's invasion of Ukraine has put financial markets under renewed stress by driving up prices and impeding growth, the European Central Bank said in a report. The war has "increased financial stability risks through its impact on virtually all aspects of economic activity", ECB vice-president Luis de Guindos said in...

The Polish president warned of a crisis if Ukraine is unable to export grains to North Africa and other countries. He said Ukraine accounts for 80 percent of Egypt's grain needs.

Appearing by video link, Zelensky delivered the headline speech to the first World Economic Forum to be held in the Swiss Alps in more than two years after the Covid pandemic derailed the event. The war is dominating the four-day meeting of the world's business and political elite.

A bid by Ukraine to join the European Union would not be finalized for "15 or 20 years," France's Europe minister said Sunday, pouring cold water on Kyiv's hopes for quick entry in the wake of Russia's invasion. "We have to be honest. If you say Ukraine is going to...

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.

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.

Qatar on Wednesday said it plans to invest an additional $5 billion in Spain on the second day of a state visit by its emir, Sheikh Tamim bin Hamad Al-Thani. "The volume of investments agreed upon with the Spanish side amounts to $5 billion in various sectors," said Qatari Foreign...

Wheat prices surged to a new record high on Monday after India decided to ban exports of the commodity as a heatwave hit production. The price jumped to 435 euros ($453) per tonne as the European market opened. Global wheat prices have soared on supply fears since Russia's February invasion...

The Group of Seven industrialized nations said Saturday they would never recognize the borders Russia is trying to shift by force in its war against Ukraine and pledged enduring support for Kyiv. The ministers were joined in the resort of Wangels by their counterparts from Ukraine and Moldova.

Washington is "working to clarify Turkey's position" after President Recep Tayyip Erdogan expressed opposition to Finland and Sweden joining NATO, White House spokeswoman Jen Psaki said Friday. The idea of the two nations becoming members of the transatlantic alliance had received "broad support from NATO member countries," Psaki said.

Asian equities were mostly up Friday following a tumultuous trading period on Wall Street, but analysts said the outlook remained bleak as inflation, the Ukraine war and Chinese lockdowns weigh on sentiment. World markets have been volatile for much of 2022, with investors fretting about supply chain snarls due to...

Finland took a step Thursday towards fast-track NATO membership, triggering a blunt warning from the Kremlin, as the war in Ukraine throttled supplies of Russian gas to Europe and the number of people who fled the country passed six million. In Geneva, the UN Human Rights Council decided to probe...

The IEA said "steadily rising" output from the United States and Middle Eastern members of the OPEC+ oil cartel will help offset losses from Russia.

Ukraine is a major supply route for Russian gas to Europe and the two sides have kept flows going even after the Kremlin sent troops into Ukraine on February 24

The growth was helped by strong sales and a cheaper yen.

Russian Foreign Minister Sergei Lavrov visited gas-producing ally Algeria for talks Tuesday as a European drive to secure alternative supplies gathers pace. Lavrov, who arrived in Algiers late Monday, was due to hold talks with both Foreign Minister Ramtane Lamamra and President Abdelmadjid Tebboune, Algerian reports said. His visit is...

The embargo on Russian oil, which is part of a sixth package of EU sanctions under discussion, is being resisted by some member states that rely on Russian oil to keep their economies running and are seeking guarantees of alternative sources.

Russia invaded Ukraine in February, in part to thwart Kyiv's tilt towards integration with the EU and NATO.

President Joe Biden was clear from the moment he entered office -- China is the main international competitor and should be the top concern for US foreign policy. Then Russia invaded Ukraine. After months devoted to supporting Ukraine and punishing Russian President Vladimir Putin, Biden is shifting focus back to...

Our sacred duty is to hold back the ideological successors of those who were defeated" in World War II, which Moscow dubs "the great patriotic war," said Putin, as he urged Russians to "take revenge"

Ukrainian President Volodymyr Zelensky said that hundreds of people had been removed from the Azovstal steel plant in Azov, and that preparations for a second stage of evacuation comprising the wounded and medics were under way.

World food prices fell slightly last month after hitting a record in March but remain high due to the Ukraine war, the UN's Food and Agriculture Organization said Friday. International sanctions against Russia as well as export flow disruptions resulting from the February 24 invasion have sparked fears of a...

The Russian military had announced a three-day ceasefire at the site starting on Thursday, but a Ukrainian commander said there was still heavy fighting at the sprawling Azovstal complex, where hundreds of soldiers and civilians have been holed up for weeks under heavy bombardment.

Saudi Arabia, Russia and other key producers agreed to adjust upward the monthly overall production by 0.432 mb/d for the month of June. Prices had soared on Wednesday, with Brent North Sea crude closing above $110 a barrel.

The EU should confiscate and sell Russian assets it has seized and use the proceeds to rebuild war-scarred Ukraine, EU chief Charles Michel said in an interview published Thursday. He was the first high-ranking EU official to propose the confiscation of oligarchs' assets.