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Europe has weathered the energy crisis that followed Russia's invasion of Ukraine so far, but businesses and households are already thinking about how to get through the next winter. After Russia's invasion, European energy prices hit record levels -- surpassing 300 euros per megawatt hour in August before a falloff after governments rushed to boost storage.
Pakistan is gripped by a major economic crisis, with the rupee plummeting, inflation soaring and energy in short supply as IMF officials visit to discuss a vital cash injection. In Pakistan, time is of the essence, with Nasir Iqbal from the Pakistan Institute of Development Economics warning the economy had already "virtually collapsed" due to mismanagement and political turmoil.
When energy prices blew up last year in the wake of Russia's war in Ukraine, Belgian glassblower Christophe Genard had no other option but to close for three months. The Federation of Belgian Enterprises (FEB) warned this month of spiralling costs for businesses because of higher energy prices and inflation-related wage hikes.
Rising demand from Europe has added to a US natural gas investment boom even as the industry struggles to overcome opposition to pipeline construction. Even before the invasion, there was heavy investment in facilities to transform gas into liquefied natural gas (LNG).
France is bracing for major transport blockages on Tuesday, with mass strikes and protests set to hit the country for the second time in a month in objection to a planned reform to raise the retirement age.
False information about climate change flourished online over the past year, researchers say, with denialist social media posts and conspiracy theories surging after US environmental reforms and Elon Musk's Twitter takeover.
Asian markets drifted Tuesday as investors bided their time ahead of a key Federal Reserve policy decision later in the week, while data showing a bounce in Chinese economic activity failed to excite. Traders shrugged at data showing China's factory activity expanded in January after four months of contraction as the economy reopened from years of strict zero-Covid curbs.
China's factory activity expanded in January after four months of contraction, official data showed Tuesday, as its economy rebounded following the relaxation of strict Covid-19 curbs. The official manufacturing purchasing managers' index (PMI) -- a key gauge of Chinese factory output -- rose to 50.1 this month, from 47.0 in December, according to data from the National Bureau of Statistics (NBS).
A new Australian budget airline, Bonza, launched its first flight Tuesday, promising cheap tickets, onboard craft beer, snags (sausages) and a relaxed approach to crew uniforms. The onboard menu includes craft beer, no-alcohol beer, and "snag in a bag" -- a sausage in a bread roll.
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