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Russia says gas exports sank in 2022 but oil up
Russia said Monday its gas exports plummeted by 25 percent in 2022 after the Ukraine conflict brought turmoil to Moscow's ties with key buyers in Europe. He said that while gas deliveries to Europe had dropped off sharply, those to new buyers, in particular China, were rising rapidly.
Rising panic over blocked imports in crisis-hit Pakistan
Pakistan business chiefs are clamouring for the cash-strapped government to allow manufacturing materials stuck at the key port of Karachi into the country, warning that a failure to lift a ban on imports will leave millions jobless.
EU raises eurozone 2023 forecast as recession skirted
The eurozone economy will grow more than previously forecast in 2023 as the energy crisis eases and the single currency area "narrowly" avoids recession this winter, the European Commission said Monday. Signs have grown the eurozone may have passed the worst of an economic shock, with inflation slowing from a peak in October and the single currency area eking out growth at the end of 2022.
Ex-CEO Braun denies 'all charges' in Wirecard fraud trial
Wirecard's ex-CEO Markus Braun denied all charges against him and insisted he had no knowledge of the massive accounting fraud that brought down the German payments firm, as he took the stand for the first time on Monday. In his first lengthy address to the court, Braun on Monday said he "had no knowledge" of any fraudulent activities at Wirecard.
'Enlightened tingle': Aussie cafe offers $140 cup of coffee
At US$140 a pop, one cafe in Melbourne, Australia is serving up no ordinary cup of joe. Even so, US$140 is well above what most people would pay for a cup of coffee.
Markets take fresh hit on rate hike worries
Asian equities fell again Monday on growing expectations that US interest rates will go much higher and for longer than previously thought. Fears that rates will go even higher -- with some even predicting six percent from the current 4.50-4.75 percent -- are fanning concerns the Fed will tip the economy into recession.
Singapore maintains 2023 GDP growth forecast, spurred by China reopening
Singapore said Monday it will stick to its economic growth forecast for 2023 despite the slowdown last year, encouraged by China's rapid reopening after years of crushing zero-Covid policies. Its government lifted the bulk of its Covid restrictions last year.
Latvian winner causes a stir at world sommelier championships
A competitor from non-wine producing Latvia has caused a stir at this year's Best Sommelier in the World contest, trouncing the entrant from France and claiming the top prize with his dizzying "thirst for knowledge". The new countries that discover wine have such a thirst to learn and share -- they have this incredible enthusiasm and they go very fast," she told AFP after the semi-final.
On climate, most corporations more talk than action
The world's biggest and richest companies are failing to deliver on their climate pledges, according to an in-depth analysis released Monday that calls on governments to crack down on corporate greenwashing. "The overwhelming majority of these corporations are simply not delivering the goods they promised," the 2023 Corporate Climate Responsibility Monitor concluded.
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