By Alexander Marrow MOSCOW (Reuters) – Russia’s economy is set to shrink by 2.5% next year, on top of a 3% contraction in 2022, a Reuters poll suggested on Friday, with stubbornly high inflation giving the central bank only limited room to cut interest rates. Russia’s economic landscape changed drastically after Moscow sent tens of …

Russia’s more gradual economic contraction to extend into 2023: Reuters Poll Read More »

(Reuters) – RWE and Namibia’s Hyphen Hydrogen Energy have signed a memorandum of understanding (MoU) that could see the German utility firm source up to 300,000 tons of green ammonia per year from Namibia, RWE said on Friday. The company said the project aims to annually produce 1 million tons of green ammonia – a …

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BRUSSELS (Reuters) – The European Commission issued a proposal on Friday to fine companies at least 5% of their worldwide turnover if they break EU sanctions against Russia. The proposal, which needs approval from the European Parliament and the EU’s 27 member states, also said that individuals breaking EU sanctions would face potential jail terms …

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FRANKFURT (Reuters) – The European Central Bank is all but certain to start offloading some of its 5 trillion euro ($5.3 trillion) bond stash next year as it ramps up efforts to bring down record-high inflation in the euro zone. Along with a continuing streak of interest rate increases, it hopes so-called quantitative tightening, or …

Explainer-ECB to start offloading debt to fight inflation Read More »

(Reuters) – Global equity funds recorded enormous outflows in the week ended on Nov. 30 as investors booked profits – after a rally in the last month – amid concerns about global economic growth due to China’s strict zero-COVID curbs. According to Refinitiv Lipper data, investors withdrew a net $5.44 billion out of global equity …

Global equity funds post biggest weekly outflow in six weeks Read More »

BERLIN (Reuters) – Germany plans to develop an 1,800 kilometre (1,118 miles) hydrogen energy pipeline network by 2027 with state participation, according to an economy ministry draft strategy paper seen by Reuters on Friday. The paper also envisages Germany fostering the use of blue hydrogen and importing it during a transition period towards green hydrogen. …

Germany plans 1,800 km hydrogen pipeline network: draft government paper Read More »