Faced with a serious shortage of resources for power generation, China has started using coal from Australia again, Reuters reports. Chinese leaders verbally banned major traders from importing coal late last year because of a conflict with Australian authorities. Relations between the two countries deteriorated significantly after the Australian government called for an international...

High energy prices are putting serious pressure on the purchasing power of EU residents, EU leaders should consider how to alleviate the situation, Barend Leyts, spokesman for the European Council President, told reporters. In the medium and long term, the EU needs to continue to significantly increase investment in innovation and clean energy, Leyts said. "The current situation once again...

Japan's State Pension Investment Fund (GPIF), the largest holder of pension savings in the world, has refused to add RMB-denominated bonds of the PRC state loan, Nikkei Asia reported, citing its own information. The decision was taken amid the risk of a collapse of China's Evergrande holding. The GPIF has 193 trillion yen ($1.7 trillion) in assets, including 47 trillion in foreign bonds. The fund...

South Korea's President has proposed a ban on eating dog meat. The country still operates dog farms where some breeds are raised for food. South Korean President Moon Jae-in said the government should consider banning consumption of dog meat for food, Yonhap news agency quoted presidential spokesman Park Ken-mi as saying. "Isn't it time to sensibly consider banning the consumption of dog meat?"...

Venezuela has agreed with Iran to swap its heavy crude for Iranian condensate, Reuters has learned. This would allow Caracas to dilute its extra-heavy oil for export, but could violate US sanctions imposed on the two countries. Venezuela has agreed to a deal to swap its heavy crude for Iranian condensate, an ultra-light oil used in refining and chemical industries, five people close to the talks...

Brazilian authorities are investigating whether JPMorgan Chase & Co, one of the world's largest investment banks, was involved in an alleged bribery and money laundering scheme in 2011 surrounding Brazilian oil and gas company Petrobras, media reported, citing court documents and law enforcement sources. The documents include emails of the alleged participants, witness statements and bank...

The UAE is investing £10 billion in Britain's technology, infrastructure and energy sectors, the British government's international trade department said. "The UK Investment Authority (OfI) and Abu Dhabi investment firm Mubadala signed an agreement today in Downing Street for a significant expansion of the UAE-UK Sovereign Investment Partnership (SIP) announced in March 2021," the statement said....

International rating agency Fitch Ratings has changed its expectations for global GDP growth to 6 percent for the year from the 6.3 percent forecast in June, the agency said in its September economic outlook. "The global economic recovery is proceeding rapidly... Progress in vaccination is limiting the impact of the new rise in COVID-19 infections on economic activity in Europe and the US. But...

American households with incomes of $1 million or more a year will pay 11% more in taxes in 2023 thanks to reforms proposed by Democrats. The Joint Committee on Taxation estimates they will pay an additional $96,000, and their average tax rate is projected to rise from 30.2 percent to 37.3 percent. The Democrats' proposed tax reforms would raise the levy for households with incomes of $1 million...