Climate change could see 4 per cent of global annual economic output lost by 2050 and hit many poorer parts of the world disproportionately hard, a new study of 135 countries has estimated.

Germany will take on an additional 39.2 billion euros ($42.1 billion) of debt in 2022 to counter the economic impact of the war in Ukraine, sources in the finance ministry said Monday.

World oil prices sank more than five percent Monday on fears that China’s worsening Covid outbreak could slam demand from the major energy consumer.

Europe must act fast to secure supplies of crucial metals required for a green energy transition and its best bet is to recycle, a report said Monday.

The Russian rouble opened stronger on Monday, firming past 74 against the dollar, helped by tax payments that companies are due to make this week and as the market looked ahead to a central bank rate decision on Friday.

Britain’s economy is heading for a slowdown, or possibly even a recession, as consumers and businesses are hit by the leap in inflation, higher taxes, rising interest rates and uncertainty caused by the war in Ukraine.

Bangladesh’s determination to meet its commitment to abide by International Labour Organization (ILO) standards has been warmly praised by the Members of the European Parliament (MEPs) trade committee, according to the EU Reporter.

Alphabet unit Google, Meta and other large online platforms will have to do more to tackle illegal content or risk hefty fines under new internet rules agreed between European Union countries and EU lawmakers on Saturday.

The edible oil market has become more volatile after wholesalers and millers cut supplies in anticipation of increased prices of the essential cooking ingredient in the wake of the export ban by Indonesia, the world’s biggest supplier of vegetable oil.

The war in Ukraine will weigh heavily upon economic growth in the eurozone, the IMF said Tuesday, as the conflict wreaks havoc on energy prices and the manufacturing sector.

More than 40 crypto business leaders have asked the European Union not to require crypto firms to disclose transaction details and dial down attempts to bring to heel rapidly growing decentralised finance platforms.

Oil prices fell in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) reduced its economic growth forecasts and warned of higher inflation.

Denmark presented on Tuesday a roadmap to end its dependence on Russian gas through a mix that includes renewable energy and biogas to become  “free” from President Vladimir Putin.

Around 200,000 employees of foreign companies in Moscow could lose their jobs due to sanctions over Russia’s military campaign in Ukraine, the city’s mayor said on Monday.

Alternatives for Russian thermal coal are difficult to find as the market is getting tighter, the head of a group representing Japanese utilities said on Friday.

The European Union’s forthcoming sanctions on Russia will target banks, in particular Sberbank, as well as oil, the head of the European Commission Ursula von der Leyen told a German newspaper.

UK Prime Minister Boris Johnson is to travel to India next week to discuss trade and security with his counterpart Narendra Modi, who has taken a neutral stance on Russia’s war in Ukraine.

The EU is working on broadening sanctions on Russia to include oil and gas embargoes but such measures would take  “several months”,European officials told AFP on Friday.

Russian state-owned gas producer Gazprom continued to supply natural gas to Europe via Ukraine on Saturday at the pace of 74.6 million cubic metres per day, in accordance with requests from European consumers, the company said.

As Europe aims to wean itself off Russian fossil fuel because of the Ukraine invasion, Israel hopes to help fill the gap with gas from its offshore reserves.