Against the backdrop of the war in Ukraine that has fueled food and fuel prices, US Treasury Secretary Janet Yellen has said that the best way to end world economic tumult was to stop the Ukraine war. Speaking ahead of the G20 summit in Indonesia, she said, "ending Russia' war...

United Nations chiefs held talks with Russian officials on the Black Sea agreements on exporting grain and fertilizers, eight days before one of the deals is set to expire. UN humanitarian chief Martin Griffiths and Rebeca Grynspan, head of UN trade and development agency UNCTAD met Russian officials led by...

The new forecast would mark "an all-time high", and is due to the depreciating values of currencies against the US dollar -- the main currency of exchange on international markets -- as well as Russia's ongoing war in Ukraine.

GENEVA, SWITZERLAND - UN chiefs are to hold talks with Russian officials in Geneva on Friday on the Black Sea agreements on exporting grain and fertilizers, eight days before the deals expire. The UN's humanitarian chief Martin Griffiths and Rebeca Grynspan, head of the UN's trade and development agency UNCTAD,...

Firm is suffering from slowdown in China's economic growth.

Firm to transfer it equity interest to JV partner Sollers.

Humanity is in "the fight of our lives" as climate change intensifies droughts, floods and heatwaves, UN chief Antonio Guterres warns world leaders in Egypt.

Iran admitted for the first time that it has sent drones to Russia, but insisted they were supplied to its ally before the Russian invasion of Ukraine. "We supplied Russia with a limited number of drones months before the war in Ukraine," Foreign Minister Hossein Amir-Abdollahian said, quoted by the...

Increasing production should help "decrease volatility in energy markets" caused by the war in Ukraine, G7 foreign ministers said in a statement after talks in Germany. The 13-nation OPEC and its 10 allies headed by Moscow said in Oct. it would cut production by 2mbd a day from November, raising...

World food prices held steady in October, though cereal prices rose over uncertainty of a deal giving safe passage for Ukrainian grains on the Black Sea, a UN agency said. Global food prices have been falling since hitting an all-time high in March in the wake of Russia's invasion of...

AMMAN, JORDAN - Jordan's King Abdullah received Russian Foreign Minister Sergey Lavrov in Amman on Thursday and stressed the importance of stabilizing Syria, especially the southern part. King Abdullah noted the need to activate efforts to reach a political solution to the crisis in Syria, safeguarding its unity and territorial...

The pope said that "a few potentates are caught up in a resolute struggle for partisan interests, reviving obsolete rhetoric, redesigning spheres of influence and opposing blocs." The pope's visit comes with the Ukraine war in its ninth month, and as tensions grow on the Korean peninsula and in the...

Europe must act immediately to prevent a shortage of natural gas next year as Russia slashes deliveries in the wake of the Ukraine war, the International Energy Agency warned. The IEA said the shortfall would occur if Russia stops pipelines deliveries completely and China steps up its imports of liquefied...

Moscow had said on Saturday that it was temporarily pulling out of the grain deal, accusing Ukraine of using a safe shipping corridor established under the agreement to launch a drone assault on its Black Sea fleet.

The Czech prime minister, whose country holds the rotating EU presidency, said the bloc may look at sanctions on Belarus over its role in the war in Ukraine. Minsk allows Russian troops to be stationed in Belarus and stage attacks on Ukraine from there, though it insists it does not...

BP, flush with cash, revealed a $2.5 billion share buyback.

The third quarters profits were boosted by higher oil prices.

The war raging in Ukraine and other overlapping crises are taking a toll on labor markets worldwide, the UN said, suggesting a "sharp" slowdown was already underway. In a fresh report, the International Labor Organization said the outlook for global labor markets has deteriorated in recent months. ILO warned that...

As one of the brokers of the grain deal, Turkey has stepped up diplomacy with the two warring countries in a bid to save it as Russia warned that continuing to enforce the agreement without its participation would be "dangerous". The Kremlin said it would be "dangerous" to enforce the...

Russia's blockade of grain exports makes it "impossible" for fully loaded ships to leave port, Ukraine charged after Moscow claimed drone attacks on its Crimea fleet had exploited the grain corridor safe zone. Kyiv's maritime grain exports were halted after Russia pulled out of a landmark agreement that allowed the...

Russia suspended its participation in a pact that allowed grain exports from Ukraine, blaming alleged drone attacks on Russian ships in Crimea. Russia made the announcement after its army accused Kyiv earlier Saturday of a "massive" drone attack on its Black Sea fleet, while Britain rejected Moscow's claims its specialists...

The European Union has frozen Russian assets worth around $16.9 billion since Moscow invaded Ukraine, EU Justice Commissioner Didier Reynders said in an interview. The figure has risen from the roughly $13.7 billion from oligarchs and other entities that Reynders in July announced the EU had frozen, mainly in five...

Calling on "all parties" to make every effort to extend the agreement on Ukrainian grain exports, UN Secretary-General Antonio Guterres has appealed for an extension to the so-called Black Sea deal, signed in July by the UN, Ukraine, Russia and Turkey, allowing more than 9 million tons of Ukrainian grain...

Hike in profit was due to high oil, natural gas prices.

Revenue doubled year-on-year to US$17.1 billion.

Owing to surging energy prices fueled largely by the Russian invasion of Ukraine, the IEA feels global emissions will peak in 2025 as investment in renewables has grown in the recent months. Last year, the IEA had said there was "no clear peak in sight" in energy emissions.

Tehran, Iran— Iran announced Sunday a contract with Russia to supply it with 40 turbines to help its gas industry amid Western sanctions over Moscow's war in Ukraine, local media reported. Iran's "industrial successes are not limited to the fields of missiles and drones," Iranian Gas Engineering and Development Company's CEO,...

In all three calls, Russian defense minister Shoigu conveyed "concerns about possible provocations by Ukraine with the use of a 'dirty bomb'".

Energy restrictions were "forcibly applied" in several regions, including the capital Kyiv and its surrounding region, Ukrenergo said. In western Ukraine, electricity and water supplies were disrupted in parts of the Volyn region, according to its governor. The city of Khmelnitskyi was without power and the city council called on...

Several Western countries are calling for an "impartial" investigation into Iranian drones they say Russia is using in the war in Ukraine. In their letter, France, Britain and Germany said they would "stand ready to support the work of the Secretariat in conducting its technical and impartial investigation."

A planned underwater energy pipeline linking Barcelona in Spain and Marseille in France could take up to seven years to build, Spain's energy minister said.

The EU has agreed sanctions against three individuals and one entity supplying Iranian drones to Russia that have been used to bomb Ukraine, the EU's Czech presidency said on Thursday. "After three days of talks, EU ambassadors agreed on measures against entities supplying Iranian drones that hit Ukraine," the presidency...

Terming the Ukrainian and Western claims that its military drone are being used by Russia in attacks on Ukraine as baseless, Iran has said it was ready for talks with Kyiv to clarify claims that Islamic republic was supplying weapons to Russia. Iranian foreign ministry said that such claims were...

Aiming to bolster cooperation on renewable energy, Morocco and the European Union have signed a "green partnership" deal in order to offer alternatives for European nations that are trying to wean themselves off fossil fuels, whose prices have soared in the wake of Russia's invasion of Ukraine.

MOSCOW, RUSSIA - President Vladimir Putin does not plan to end a military mobilization in Russia "yet" but some of the country's regions completed the process, the Kremlin said Tuesday. "For the moment, there is no presidential decree (on ending mobilization)," Putin's spokesman Dmitry Peskov said. He spoke a day...

BP bought US firm to reach net zero emissions by 2050.

Paris, France— Russia's invasion of Ukraine and the resulting economic fallout have thrown four million children into poverty across eastern Europe and Central Asia, the UN children's agency said Monday. "Children are bearing the heaviest burden of the economic crisis caused by the war in Ukraine," UNICEF said. The conflict "and...

Now is the time for emerging market policymakers to batten down the hatches. Eligible countries with sound policies should urgently consider improving their liquidity buffers by requesting access to precautionary instruments from the Fund, adds the IMF's Economic Counsellor Gourinchas.

An oil depot in Russia's Belgorod region bordering Ukraine is on fire after being shelled, the governor said, as strikes increases against the area.

Iran has rejected allegations that it has supplied Russia with weapons "to be used in the war in Ukraine", its foreign ministry said. Kyiv and many of its Western allies have accused Moscow of using Iranian-made drones in attacks on Ukraine. The topic is expected to be discussed by European...

The fund trimmed its world growth forecast to 2.7 percent in 2023, and its chief economist Pierre-Olivier Gourinchas cautioned that the next year would feel like a recession for many people. Throughout its meetings of financial chiefs this week, the crisis lender stressed that the priority was for central banks...

Continuing with the kingdom's role to support "everything that will contribute to de-escalation," Saudi Arabia has announced $400 million in aid for Ukraine. Saudi Crown Prince Mohammed bin Salman spoke to President Volodymyr Zelensky by phone, conveying the kingdom's eagerness to support mediation.

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".