Italian Prime Minister Mario Draghi is traveling to Algeria with Foreign Minister Luigi Di Maio to sign a deal on natural gas supplies from Algeria to the Apennines, according to the Italian foreign minister. "I will be in Algeria tomorrow morning with President Draghi to sign an important gas agreement that will allow us to respond to possible Russian gas blackmail," Di Maio said at a press...

According to the Finnish Ministry of Employment and Economic Development, Finland is leasing a big LNG terminal ship in partnership with Estonia in order to cut off gas supplies from Russia as soon as possible. The Finnish Ministry of the Environment has ordered Gasgrid Finland Oy, in collaboration with the Estonian company Elering AS, to explain and agree on the leasing terms of the LNG terminal...

Head of the Bundesbank Joachim Nagel said that inflation in Germany could average 6% in 2022. "We expect that annual average inflation in 2022 could reach 6 percent. And that, of course, is too much," Nagel said in an interview with ARD television. The head of the Bundesbank noted that the issue is of universal concern. The government cannot allow inflation to fix at a high level as rising...

According to Janus Henderson investment firm analysts, overall debt of governments around the world would rise by 9.5 percent this year to a new high of $71.6 trillion, placing downward pressure on economic recovery and GDP growth. A new Sovereign Debt Index, focused to sovereign indebtedness around the world, was issued by Janus Henderson, a British management firm. By the end of 2021, the paper...

The White House: Joe Biden orders $100 million in additional military aid to Ukraine. U.S. President Joe Biden has ordered $100 million in additional military aid to Ukraine, according to the White House. According to a memorandum signed by Biden, the text of which was distributed by the White House press service, the equivalent of $100 million in the aid will include defense equipment and...

The World Bank predicts China's economy will grow by 5% in 2022 instead of the 5.4% expected in October, according to the bank's World Economic Outlook report. "China, which accounts for 86 percent of regional output, is projected to grow by 5 percent in the baseline scenario and 4 percent in the pessimistic scenario," the WB wrote. The Bank notes that the situation around Ukraine threatens the...

The annual inflation rate in South Korea was 4.1 percent in March 2022, the highest in a decade, the Ryonhap News Agency reported citing the national statistical office. According to the agency, the increase was caused by energy prices. Experts fear that food prices may continue to rise because of the Ukrainian crisis. At present, a sharp decline in inflation is unlikely, according to the...

On Sunday, April 3, authorities in Shanghai, ordered for 26 million residents of the city to be checked for the coronavirus. This was reported by Reuters. "The main task is to completely eliminate risk points and break the chain of transmission in order to stop the spread of the epidemic as soon as possible," said Wu Qianyu, an inspector at the Shanghai Municipal Health Commission. At the same...

S&P has affirmed Turkey's foreign currency rating at "B+" with a negative outlook. International rating agency S&P Global Ratings (S&P) has affirmed Turkey's long-term foreign currency sovereign credit rating at "B+" with a negative outlook, the agency said in a release. The country's long-term local currency rating was lowered to "B+" from "BB-". "In our view, the negative outlook...