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Japan reiterates plan to cut reliance on coal at G7 ministerial summit

A draft communique showed the group would consider committing to a phase-out of coal by 2030

G7 calls on Opec to play key role to ease global energy supplies

Opec and its allies, a group known as Opec+, has so far rebuffed Western calls for a faster increase in oil production to lower surging prices

G7 reaches agreements to phase out coal power generation: German minister

The pledge would mark the first commitment from the G7 to quit coal-fuelled power - use of which needs to decrease if the world is to avoid the worst impacts of climate change

Google in talks to join India's open e-commerce network ONDC: Reports

The ONDC programme aims to join 30 million sellers and 10 million merchants online, and cover at least 100 cities and towns by August

Nykaa reports 49% drop in quarterly net profit as expenses surge

The cosmetics-to-fashion platform, headed by Falguni Nayar, has said its marketing expenses in 2020 came in exceptionally low as it did not spend as much on advertising due to the pandemic

Crude oil prices increase supported by the prospect of a tight market

EU nations are negotiating deal on Russian oil sanctions that would embargo shipment deliveries but delay sanctions on oil delivered by pipeline to win over Hungary and other landlocked member states

Putin says he is ready to deliver gas, discuss prisoner swap: Austria

Austrian Chancellor has informed recently that Russian President Vladimir Putin has agreed to provide full natural gas supplies to the nation

GAIL says it's open to buying Russian oil-gas assets if offered good deal

GAIL is considering buying gas from challenging local fields to address surging local demand for natural gas, including striking long-term liquefied natural gas import deals with global companies

EU may clinch summit deal to sanction Russian oil shipments, says official

Hungary's resistance to oil sanctions - and the reluctance of a handful of other countries - has held up implementation of a sixth package of sanctions by the 27-member EU against Russia

Dollar moves higher but set for biggest weekly drop in four months

"The market's tentative speculation about a pause in the Fed's tightening cycle in September is surely contributing to keeping the dollar soft," ING strategists said

Toyota cuts June output plan again due to chip shortage and China lockdown

Toyota said there was "a possibility" that it could lower its full-year production plan of 9.7 million vehicles.

Evergrande mulls staggered pay, debt-equity swap for $19 bn bonds: Report

Evergrande's entire $22.7 billion worth of offshore debt including loans and private bonds is deemed to be in default after missing payment obligations late last year

UK household support package to have 'minimal impact' on inflation: Sunak

Sunak said on Thursday high inflation was now causing "acute distress".

Taiwan revises down 2022 GDP growth forecast hit by Covid, inflation

Gross domestic product (GDP) is expected to rise 3.91% this year, the Directorate General of Budget, Accounting and Statistics said, down from 4.42% growth forecast in February.

Japan aiming to 'drastically strengthen' military capability: Report

Japan aims to "drastically strengthen" its military capabilities, according to an economic policy draft, as officials worry that Russia's invasion of Ukraine could prompt instability in East Asia

Security Council split spells end of an era for US-led sanctions on N Korea

The two countries on Thursday vetoed a US-led push to impose more UN sanctions on North Korea over its renewed ballistic missile launches

High gas prices, energy security fears impede decarbonisation push

Europe is importing record volumes of liquefied natural gas (LNG) as gas from its top supplier Russia has been disrupted following the Ukraine crisis

Russia-Ukraine conflict: Everything that you need to know right now

President Zelenskiy complained about divisions inside the European Union over more sanctions against Russia and asked why some nations were being allowed to block the plan

India has no plans to curb rice exports as local supplies surge: Report

India banned wheat exports on May 14, just days after New Delhi forecast record shipments of 10 million tonnes this year

Helped by weak yen, Japan remains top creditor as net external assets grow

Japan's net external assets hit a record amount in 2021, retaining its position as the top creditor for 31 years in a row, the Ministry of Finance (MOF) said