Zelenskiy to appeal directly to U.S. defense companies
Ukrainian President Volodymyr Zelenskiy is scheduled to speak to US arms makers and military leaders on September 21, when he is expected to make an appeal for more weapons for his ...
Romanian low cost carrier Blue Air extends flight cancellation until October 10
Romanian low cost air carrier Blue Air said on Friday it will cancel all flights until October 10, extending a halt in operations by a month, saying it cannot pay for ...
Four detained after Germany’s largest ever heroin seizure
Four people were detained after police made their largest ever seizure of heroin in Germany, prosecutors said on Friday, with police confiscating some 700 kilos as part of an operation against ...
US says Russia oil price cap should reflect historical prices, curb Putin profit
The price cap that G7 countries want to impose on Russian oil to punish Moscow should be set at a fair market value minus any risk premium resulting from its ...
EU to claw back energy firms’ profits rather than cap Russian gas price
European Union energy ministers on Friday tasked Brussels with drafting proposals within a few days to cap the revenues of non-gas energy producers and help power firms stay afloat.
But ...
EU makes it harder for Russian tourists to enter bloc from Monday
The European Union will make travelling to the bloc more difficult and expensive for Russians from Monday after it formally backed suspending a visa facilitation agreement over Russia’s invasion ...
Euro leaps parity on ECB, world stocks hit one-week high
The euro rose back above parity to a two-week high against the dollar on Friday following a large rate hike and hawkish comments from the European Central Bank, while a ...
ECB lifts rates by unprecedented 75 bps to fight inflation
The European Central Bank raised its key interest rates by an unprecedented 75 basis points on Thursday and signalled further hikes, prioritising the fight against inflation even as the bloc’s ...
Greece to repay euro zone bailout loans early for first time
Greece will repay ahead of schedule 2.7 billion euros of loans owed to euro zone countries under the first bailout it received during its decade-long debt crisis, finance ministry officials told ...
Euro holds above 2-decade low before ECB decision
The euro was hovering above Tuesday’s two-decade low on Thursday as investors awaited a policy decision from the European Central Bank (ECB) and comments from the head of the ...
ECB poised for another big rate hike as inflation soars
The European Central Bank will raise interest rates again on Thursday to fight runaway inflation and, with a big move and a record one under consideration, the only question is ...
Europe’s banks dim lights as they brace for winter blackout
Some of Europe’s biggest banks are preparing back-up generators and to dim the lights as they brace for potential power cuts and energy rationing that threaten the money system ...
Greece tells state entities to save energy or risk losing funding
Greek state entities will risk losing government funding if they fail to implement a government energy-saving plan, ministers said on Wednesday, as the country, like its European peers, struggles with ...
Russia’s Putin says West is failing, the future is in Asia
President Vladimir Putin said on Wednesday that the West was failing because a futile and aggressive attempt to isolate Russia with sanctions was destroying the global economy just as Asia ...
Netherlands warns against EU carbon market fundraising plan
The Netherlands has warned other European Union countries that an EU plan to use a carbon market reserve to finance their exit from Russian gas would undermine the bloc’s ...
Big rate hike won’t save euro as energy shock deepens
The hit to the euro zone economy and its currency from a deepening energy crisis is so severe that more aggressive monetary tightening from the European Central Bank will do ...
Volkswagen triggers landmark Porsche IPO plan, defying market doubts
Volkswagen (VOWG_p.DE) on Monday announced its intention to float sports car brand Porsche, triggering what could become one of the world’s largest listings even as record inflation ...
Hungary to set up anti-corruption body in bid to unlock EU funds
Hungary will create an anti-corruption authority and a working group involving non-government organisations to oversee the spending of European Union funds, the government said in a decree in its official ...
Euro plunges to new 20-year low after Russian gas halt
The euro sank below $0.99 to a new 20-year low on Monday after Russia’s halt to gas supplies down its main pipeline to Europe heightened fears about a deepening energy ...
OPEC+ agrees small oil production cut
OPEC and its allies led by Russia on Monday agreed a small oil production cut to bolster prices that have slid on fears of an economic slowdown.
The oil producers ...
In Brussels, Ukraine seeks backing for special war crimes tribunal
Ukraine’s government on Monday sought political backing in Brussels for the creation of a special tribunal to prosecute Russian military and political leaders it holds responsible for starting the ...
Gazprom: off-line Nord Stream compressor station now deemed hazardous
Russian gas giant Gazprom said on Monday it had received a formal warning from Russian regulators that the idled Portovaya compressor station, which is supposed to push gas towards Germany ...
France, Germany to provide each other with gas, electricity, to weather crisis
France will send gas to Germany if needed while Germany stands ready to provide it with electricity, President Emmanuel Macron said on Monday, saying this showcased European solidarity in the ...
Germany to keep two nuclear reactors in reserve until April 2023
Germany will keep two of its three remaining nuclear plants available for power production as part of a reserve scheme recommended by power transmission grid operators (TSOs) that stress-tested electricity ...