In its heaviest measures yet to penalize Moscow for its invasion of Ukraine, the European Union's chief executive recommended a progressive oil embargo on Russia, as well as penalties on its main bank and a ban on Russian broadcasters from European airwaves, on Wednesday.   If EU...

Liquefied natural gas (LNG) shipments from terminals to Europe's gas transportation system in April 2022 were a record for the month. Gas Infrastructure Europe (GIE) specified that the index was the highest since 2011. This is according to the company's data. In April LNG inflows from terminals...

Because sea routes are restricted, around 4.5 million tons of grain in Ukrainian ports cannot be exported, says Martin Frick, director of the UN World Food Programme's German department. "Right now, over 4.5 million tons of grain are at Ukrainian ports and aboard ships, and they can't be used as...

The United States' economy unexpectedly dropped in the first quarter, owing to a return in COVID-19 infections and a dip in government pandemic assistance funds, although the drop in output is deceiving because domestic demand remained high.   The Commerce Department reported on Thursday the...

Rajensingh Pawar, an Indian farmer, is selling his new wheat crop to private merchants rather than the state stockpiler for the first time in almost a decade, as a worldwide wheat price rally provides India's suppliers with a rare profitable export window, According to a report published by the...

South Korea will raise coal imports from Australia by one-and-a-half times to lessen reliance on Russian coal, which is becoming more expensive due to the Ukraine conflict, according to the Republic of Korea's administration. South Korea has decided to diversify its coal import channels and enhance...

Economists polled by DailyFX believe that US GDP increased by 1.1 percent year over year in the first quarter, according to the first estimate (if GDP had been expanding at the same rate for four consecutive quarters). The Bureau of Economic Analysis of the US Department of Commerce will issue the...

Twitter has announced that Elon Musk, the founder of SpaceX and Tesla, will purchase the social media platform for $44 billion. In a statement, Twitter said, "Twitter, Inc. today announced that it has entered into a definitive agreement to be bought by a company entirely owned by Elon Musk for...

According to an official, Saudi Arabia is aiming for a tenfold rise in foreign airline passengers crossing the country by the end of the decade in order to triple yearly passenger traffic.   The government declared plans last year to become a worldwide transportation and logistics hub by...