As the country's power crisis subsides, Australia's energy market operator says it will lift its suspension of the country's major wholesale electricity market. The limitations will be lifted temporarily on Thursday until a final decision is reached.   Following a price increase, it banned...

According to e-commerce platforms, high-end home appliances and camping gear were among the most popular purchases among Chinese shoppers during the "618" shopping holiday, demonstrating how China's COVID-19 regulations are driving lifestyle shifts.   The event was the first large shopping...

Loretta Mester, President of the Cleveland Federal Reserve Bank, stated that it will take two years for inflation to fall to the central bank's target of 2 per cent, adding that it will "move down" gradually from its current level.   A jump in inflation, which is at its highest level in 40...

Russian gas supplies to Europe dipped further on Thursday, raising concerns about winter storage replenishment and creating a diplomatic spat as Russian producer Gazprom accused Western sanctions for impeding maintenance work.   The decrease in supplies comes as the leaders of Germany,...

Many people were surprised by the Central African Republic's decision to make Bitcoin legal tender, but the government claims that it will ensure the country's financial independence, according to a report by the BBC.    The president appeared to be mimicking Elon Musk's mysterious...

A rift is forming in India's refining sector, with private refiners tapping cheap Russian crude to improve export profits while domestically focused state refiners are constrained by high oil costs and government-capped domestic fuel prices.   While many Western consumers are shunning...

On Wednesday, oil prices rose as European Union leaders agreed to a partial and phased ban on Russian oil, and China terminated its COVID-19 lockdown in Shanghai.   By 0817 GMT, Brent crude was up $1.71, or 1.5 per cent, to $117.31 per barrel. West Texas Intermediate (WTI) crude in the...

On Tuesday, Russia expanded its gas cuts to Europe, with Gazprom cutting off supply to prominent Dutch trader GasTerra, deepening the economic struggle between Moscow and Brussels and driving up European gas prices. more info   The move comes just a day after Denmark signalled the end of its...

According to German newspaper Der Spiegel , Germany's Economy Ministry has refused to provide Volkswagen with guarantees to cover future investments in China due to worries over human rights breaches in the Xinjiang area.   The ministry said that it had rejected four applications from a...

China's economy is stumbling back to its feet two months after draconian COVID-19 lockdowns crippled global supply lines, but industries from retailers to chipmakers are warning of poor sales as people in the country slam the brakes on spending.   As protracted COVID limits squeeze spending...

The Indian government is considering investing an additional 2 trillion rupees ($26 billion) in the fiscal year 2022/23 to protect consumers from rising costs and combat multi-year high inflation, according to report quoting information from unnamed government officials.   The additional...