International/Economy

Creditors agree to 2-year pause on Ukraine $20 billion debt

The World Bank estimated that Ukraine's economy could contract by 45% this year due to the Russian invasion

OPEC+ agrees to small increase in oil production despite Biden request

'The smallest increase in OPEC+ history will do little to help the ongoing global energy crisis'

EU plan to curb gas use faces opposition from countries

Denmark, France, Ireland, Italy, Malta, the Netherlands, Poland and Portugal were among the opposing states

Euro reaches parity with US dollar, a first in 20 years

Israel's shekel is holding a steady level against the strengthening US dollar

Chickpea shortage from Ukraine war, weather threatens hummus supply

Ukraine could not seed its total chickpea crop due to the war, removing 50,000 tons that usually reach Europe

Cost-of-living crisis driving 71 million into extreme poverty

'The threat of increased social unrest grows by the day'

China extends imports of Russian crude oil, cuts supply from Middle East

June imports of Russian oil are expected to total 2 million barrels per day

OPEC+ stays the course on oil output boost

Major oil producers agree to add another 648,000 barrels per day in August, the same as for July

Iran applies to join Russia, China as BRICS member

Argentina is expected to follow

Russia nears first default in decades as payment deadline expires

Moscow accuses the West of staging 'artificial deault'

Major markets dive on heightened recession fears

Global equities, oil prices and bitcoin plunged Monday

WTO chief 'cautiously optimistic' ahead of high-stakes meet

'The road will be bumpy and rocky, there may be a few landmines on the way'

Tel Aviv 6th most expensive city in the world

Six of the ten most expensive cities in the world (including Tel Aviv) are located in Asia

Saudi Arabia oil price surges amid tight supply

OPEC+ member nations are struggling to meet their oil supply targets

Russia holds the world hostage raising fears of food crisis - analyst

Moscow blocks Ukraine’s sea ports ‘to get relief from sanctions’

Russian ruble becomes world’s best performing currency, despite sanctions

Ruble firms 30% against dollar

Zelensky calls for more Russia sanctions in Davos

Ukrainian president urged for complete withdrawal of foreign businesses from Russia

McDonald's to exit Russia, sell business in country

'Business in Russia is no longer tenable, nor is it consistent with McDonald's values'

Morgan Stanley warns 2022 global economic growth to take major blow

The brokerage forecasts 2022 global growth to be at 2.9 percent, compared to 6.2 percent the year prior

Airlines expect travel will rebound to pre-Covid levels in 2023

'We are seeing a strong recovery, and I think that recovery will gather momentum'

China’s Covid lockdowns bite local, international economies

'This has affected not only the supply chain within China, but… [also] around the world'

IMF: Ukraine war to hit MENA's poor nations, boost oil-producers

Low-income countries face increased pressure due to lower levels of food security

UK, India seal defense and economic pact

'We're telling our negotiators to get it done by Diwali in October. This could double our trade' by 2023

IMF: Fragmentation poses 'serious risk' to global prosperity

Globalization 'lifted hundreds of millions out of poverty... fragmentation would undo many of these gains'