Business
Big brands poke fun at EU country’s corruption scandal
IKEA’s advertising campaign alluding to a government corruption scandal goes viral in Portugal
More nations consider abandoning dollar – Moscow
Washington’s threats of seizing Russian assets are undermining trust in the American currency, Ambassador Anatoly Antonov has said
Fuel tanker costs surge on Red Sea crisis – Bloomberg
Rates for fuel tankers have soared above $100,000 a day due to the disruption of shipments through the Red Sea
Czechs don’t want to ditch crown for euro – poll
Some 68% of Czechs believe that adopting the euro would have negative consequences, a recent poll has revealed
Houthis attack tanker carrying Russian oil product – reports
A cargo vessel transporting Russian fuel for Trafigura was struck by a Houthi missile in the Red Sea, media report, citing the trading giant
Russian gas output forecast to surge – IEA
The International Energy Agency expects gas production in Russia to rise by 4% this year
Italy warns against ‘weaponizing’ euro
Using the euro as a sanctions tool would jeopardize its standing as a global reserve currency, the head of Italy’s central bank says
Britain steps up power purchases from EU countries – report
With solar and wind farms unable to meet demand, the UK turned to EU countries for record imports
Israel-linked boycotts of US brands boosting local businesses in Middle East – Bloomberg
Western restaurants and products are reportedly losing profits in Muslim countries due to the conflict in Gaza
Biden halts new LNG exports
US President Joe Biden has paused new liquefied natural gas exports, citing the risk of environmental damage
Race for global economic dominance sees ‘striking turn of fortunes’ – ex-IMF official
The US has extended its lead over China as the world’s biggest economy as the latter struggles to rebound from the pandemic
Red Sea crisis could reignite inflation – media
Soaring shipping costs in the face of Houthi attacks have been stoking worries about a revival of inflation pressures around the world
Russia’s earnings from food exports hit record high – minister
Agricultural exports reportedly brought Moscow more than $45 billion in 2023
UK insured $130 billion worth of Russian crude – CREA
British firms have insured a third of all Russian seaborne oil shipments since the start of the Ukraine conflict, a report has found
World’s most valuable company announces job cuts
Microsoft will cut 8% of the staff at its gaming unit three months after its $69 billion acquisition of Activision Blizzard
Russia reveals progress on new gas pipeline project to China
The timing of the construction of Power of Siberia 2 will be determined after Moscow and Beijing sign binding agreements, a deputy PM says