Page 920 - Reuters

Euro zone inflation hits new record, adding to case for big ECB rate hikes

Energy prices jumped 39.2%, highlighting how the war and the accompanying global energy crunch are making life more expensive for the eurozone's 343 million people

Oil prices' bull run continues as EU agrees to ban Russian oil supply

By Shadia Nasralla

Oil price surge fans inflation fears, weakens US, European stocks

By Sujata Rao

Japan's Chubu Electric to buy 20% stake in India's OMC Power for $39 mn

Japan's Chubu Electric Power Co Inc said it will spend up to 5 billion yen ($39 million) to buy a 20% stake in India's rural renewable energy service company, OMC Power Private Ltd

Global refiners struggle to meet global demand amid high prices, shortage

Refiners worldwide are struggling to meet global demand for diesel and gasoline, exacerbating high prices and aggravating shortages from big consumers like the US and Brazil

India Q4 GDP: Inflation may have slowed down growth to just 4%, says poll

Soaring prices and the subsequent hit to consumer spending and investments are likely to further dampen India's economy, economists said

Indian house prices set to rise again despite higher rates, shows poll

A lack of demand has kept India's property market relatively quiet during the pandemic compared with other world markets that rocketed higher as households scrambled to buy more living space

Oil prices rise after EU agrees to ban most Russian crude imports

Oil prices rose after EU agreed to slash oil imports from Russia by the end of 2022, fuelling worries of a tighter market already strained for supply amid rising demand

Crisis-hit Sri Lanka urges airlines to fly full tank or fill elsewhere

There's increased refueling at southern Indian airports by international flights to and from Colombo to offset the shortage, according to an official at Indian Oil Corp

EU fails to agree on Russian oil ban as leaders gather for summit

The leaders of the 27 European Union countries will agree in principle to an oil embargo, a draft of their summit conclusions showed

India's imports of cheap Russian crude surge since Ukraine invasion: Data

India received more than 24 mn barrels of Russian crude this month, up from 7.2 mn barrels in April, and is set to receive about 28 mn barrels in June, according to Refinitiv Eikon oil flows

US will not send Ukraine rocket systems that can reach Russia, says Biden

The Ukrainian government has urged the West to provide it with more longer-range weapons in order to turn the tide in the war, now in its fourth month

Post export ban, India asked to supply over 1.5 mn tonnes wheat: Report

'More than half a dozen countries have approached India for more than 1.5 million tonnes of wheat and we will see how to go about these requests,' says a govt official who didn't wish to be identified

European shares rise as China growth hopes boost luxury, tech stocks

The pan-European STOXX 600 index rose 0.6% to 447.79, a level not seen since early May, boosted the most by luxury firms, which derive significant demand from China

Oil prices climb above $120/barrel ahead of EU meeting on Russia sanctions

The Brent crude futures contract for July, which will expire on Tuesday, was up 59 cents, or 0.5%, at $120.02 a barrel at 1100 GMT.

Kremlin eyes political prize in rubble of Ukraine's Sievierodonetsk

Small east Ukrainian city now a focus of Russia's invasion; industrial town was previously a hub for Ukrainian military

Unlikely monkeypox outbreak will lead to pandemic, says WHO official

More than 300 suspected and confirmed cases of monkeypox, a usually mild illness that spreads through close contact causing flu-like symptoms and a distinctive rash, have been reported in May

Dollar resumes slide as global stock markets tentatively pick up

The dollar index - which tracks the greenback against six major rivals - is on track for its first monthly drop in five, as the safe haven currency loses steam after a breakneck start to the year.

Govt aims to cut power output from at least 81 coal-fired plants over 4 yrs

"The thermal power plants in future shall operate up to the technical minimum to accommodate cheaper renewable energy when it is available," the ministry said in the letter dated May 26.

Shanghai city to lift two-month Covid lockdown restrictions on June 1

Shanghai imposed a city-wide lockdown on its 25 mn residents on April 1 to combat the spread of Covid