Business
UN reveals five G20 countries ready for accelerated growth
The global economy is at a crossroads, with just a few G20 countries expected to see rapid growth, the UN trade body says
EU energy system is ‘unstable’ – Gazprom
Natural gas shortages are putting the EU’s energy security at risk, top Gazprom managers have warned
US mortgage rates hit highest level since 2000 – Bloomberg
American home loan rates have topped 7.5% for the first time since November 2000, a survey has found
Russian oil exports jump 24% in just a week – Bloomberg
Crude exports from Russia surged to the highest in three months last week despite output cuts, Bloomberg reports
Saudi Arabia and Russia extend oil supply cuts
Moscow and Riyadh will continue to slash oil output for the remainder of this year to stabilize the global market, official statements say
US to plunge East Asia into growth reduction – FT
East Asia is reportedly facing one of the worst economic outlooks in half a century as US trade policies are forecast to hinder growth
Germany faces grim long-term economic future – expert
Labor shortages, high energy costs and soaring inflation will weigh on Germany’s economic growth in the future
Ukraine could reap $200 billion EU bonanza – FT
The accession of new members would bring drastic changes to the EU’s funding structures, the Financial Times reports
Russia to make it harder for foreign companies to leave – Izvestia
Western firms looking to exit Russia are facing a big jump in costs, according to the country’s Finance Ministry
Russia not complying with Western oil price cap – deputy PM
Russian oil exporters are complying with a state decree banning crude sales under the Western price cap, Deputy PM Aleksandr Novak has said
Beer giant terminates license agreements in Russia
Danish brewer Carlsberg says it is terminating license agreements for its brands in Russia
Ruble exchange rate to dollar doesn’t matter – Kremlin
The Russian government does not see a weakening ruble as a threat to macroeconomic stability, the Kremlin spokesman has said
EU prepared to give in to Hungarian demands – FT
Brussels is reportedly set to release some €13 billion to Hungary in order to secure Budapest’s approval of Ukraine support
Italian factories ‘trapped in recession’ – S&P
Italian manufacturing has plunged deeper into recession as contraction continues due to a lack of orders and slow demand, S&P says
Russian gas production forecast to soar
The Russian government plans to continue ramping up LNG output in line with surging global demand
Germany sticks with China’s Asia Infrastructure Investment Bank
Germany pledged to keep supporting a Chinese state-backed development bank despite Canada’s latest decision to freeze ties with the lender