Exxon Mobil is injecting new cash into oil trading in Europe after a retreat on its ambitious expansion plans last year, three people with knowledge of the matter said.

Oil prices ended 3 per cent higher on Friday at fresh seven-year highs as escalating fears of an invasion of Ukraine by Russia, a top energy producer, added to concerns over tight global crude supplies.

Qatar Petroleum is unlikely to face further EU antitrust action three years after EU regulators opened an investigation into its 20-year gas contracts on concerns that these may hinder the development of a single gas market in the 27-country bloc, sources said.

The European Central Bank is telling euro zone banks zone to step up their defences against cyber-attacks, also in the context of geopolitical tensions such as the stand-off between Russia and Ukraine, the ECB’s top supervisor said on Thursday.

India’s Reliance Industries Ltd plans to produce blue hydrogen at a “competitive cost” of about $1.2-$1.5 per kg as it repurposes its $4-billion gasification assets, the conglomerate said in a presentation.

High-end automakers Volvo Cars and Mercedes said Friday that the global supply chain bottlenecks caused them to sell fewer cars, but that their profitability rose as they were able sell vehicles at higher prices.

Signs are growing that a global supply chain crisis which has confounded central bank inflation forecasts, stunted economic recoveries and compressed corporate margins could finally start to unwind towards the end of this year.

Saudi Arabia and the United Arab Emirates (UAE) could help to calm oil markets if they pumped more crude, the International Energy Agency (IEA) said on Friday, but prices rose after the watchdog highlighted deepening risks of volatility.

Russia’s central bank once again raised its interest rate on Friday as authorities struggle to rein in rapidly growing inflation and soaring food prices.

The European Union is set to allocate a fund of $21.5 million to help accelerate climate-smart and inclusive infrastructure investments in Bangladesh and five other South Asian countries.

Inflation in the United States was as hot as ever last month, with consumer prices seeing their largest annual jump in nearly four decades as costs rose for a wide range of items.

Dubai plans to attract 50 multinational companies within three years, the emirate’s government media office said on Wednesday citing a statement from the Dubai International Chamber.

China’s industry ministry published revisions to draft rules on Thursday dictating how companies and localities should manage data, bringing more specificity to the country’s evolving data governance regime.

Beijing on Thursday fended off accusations that it had not honoured its commitments to a 2020 trade pact with the United States, calling instead for Washington to lift punitive tariffs and sanctions “as soon as possible”.

British consumer goods group Unilever on Thursday logged a rising net profit in 2021 but warned that soaring inflation will likely ramp up costs again this year.

The eurozone economy will grow less than expected this year, the European Commission said on Thursday, as energy prices and supply chain problems jack up inflation and delay a more sustained recovery from the pandemic.

With Europe worried about its gas supplies amid fears of a Russian invasion of Ukraine, Qatar will host a summit of top natural gas exporters including Russia, organisers said Tuesday.

Japan is offering Europe part of its liquified natural gas imports over fears supplies will be disrupted by tensions surrounding a possible Russian invasion of Ukraine, Tokyo’s trade minister said Wednesday.

Indian debt traders have dismissed government officials’ concerns about bonds being mispriced, saying they reflected fundamentals but the central bank was behind the curve, and urged steps to fight inflation at Thursday’s policy meeting.

Strolling through the town of Maymana, the new mayor appears to inspire goodwill from war-weary constituents in the Afghan provincial capital.