By Susanna Twidale, Kate Abnett and Gabriela Baczynska (Reuters) – European Union countries are negotiating a proposal by the European Commission to cap gas prices if they exceed 275 euros ($289) a megawatt hour (MWh) and meet other conditions. The aim is to shield European households and businesses from the kind of gas price spikes …
Explainer-Europe’s much-debated plan to cap gas prices Read More »
MOSCOW (Reuters) -Consumer prices in Russia rose sharply in the week to Dec. 5, driven by higher electricity and gas tariffs, data published on Wednesday showed, a little over a week before the central bank will meet on interest rates for the final time this year. Russia’s consumer price index rose 0.58% in the week …
Gas tariff hike accelerates rise in Russian weekly consumer prices Read More »
MOSCOW (Reuters) – A Western price cap and a European Union embargo on Russian oil are a new economic shock that could significantly reduce Russia’s economic activity in the coming months, central bank analysts said in a report on Wednesday. The price cap on some Russian oil exports, to be enforced by the G7 nations, …
Price cap, oil embargo are ‘new economic shock’ for Russia, say central bank analysts Read More »
MOSCOW (Reuters) – Russia’s economy has overcome the short-term slump caused by President Vladimir Putin’s partial mobilisation order, but the disinflationary impact it had in reducing consumer demand has practically disappeared, the central bank said on Wednesday. Inflationary risks are set to prevail in the medium term, the bank said in an analytical report on …
Russian economy has overcome short-term slump caused by mobilisation – central bank Read More »
PARIS (Reuters) -The Court of Justice of the European Union has dismissed as inadmissible an action brought by WhatsApp against a decision of the European Data Protection Board, it said in a statement on Wednesday. Following complaints about Whatsapp’s use of personal data in Ireland and a European Data Protection Board (EDPB) ruling on the …
EU court rejects WhatsApp challenge against EU Data Protection Board Read More »
PARIS (Reuters) -French markets regulator AMF said on Wednesday it had decided the French state must extend its offer to buy out minority shareholder in nuclear power group EDF pending a Paris court ruling on a legal challenge against the AMF’s earlier approval of the offer. The offer that opened on Nov. 24 was to …
French stock market watchdog AMF extends EDF buyout offer after legal challenge Read More »
(Reuters) – Madrid-based restaurant operator AmRest said on Tuesday it agreed to sell its KFC restaurant business in Russia for at least 100 million euros ($104.48 million) to Russian restaurant and entertainment company Almira. AmRest follows hundreds of Western companies which have either withdrawn, sold or closed down operations in Russia since the invasion of …
AmRest sells its KFC restaurant business in Russia for 100 million eur Read More »
MOSCOW (Reuters) -Russia is concerned about a build-up of oil tankers in the Bosphorus Strait and is discussing the issue with insurance and transport companies, RIA cited Russian deputy foreign minister Alexander Grushko as saying on Wednesday. At least 20 oil tankers queuing off Turkey face more delays to cross from Russia’s Black Sea ports …
Russia is concerned over oil tankers build-up in Bosphorus – RIA Read More »
KYIV (Reuters) – Moldova’s government on Wednesday approved the main indicators of the 2023 state budget, forecasting economic growth of 2%, inflation of 15.7% and a deficit of 6% of gross domestic product. Moldova, a country of 3.5 million people, has said previously that it expects its economy to shrink 3% in 2022 and that …
Moldovan government backs draft 2023 budget with 6% deficit Read More »
By David Milliken LONDON (Reuters) – The Bank of England looks set to raise interest rates to 3.5% or more next week, but policymakers appear increasingly split on how much tightening is needed to tame double-digit inflation as the economy heads into recession. Last month BoE Governor Andrew Bailey said further rate rises were likely …
Bank of England set to raise rates to 3.5% after inflation hits 41-year high Read More »
