European inflation forecast raised
The European Commission has upped its inflation projection for Europe, citing supply disruptions and soaring prices
WTO, IMF and World Bank call for trade restrictions to be lifted
The WTO, IMF and World Bank have urged the global community to ease trade restrictions in order to battle the global food crisis
UK approves windfall tax on oil and gas industry
British lawmakers have approved a 25% windfall tax on the oil and gas industry on Monday targeting profits made from surging energy prices
China’s economy shrinks on lingering Covid-19 woes
China’s economy slowed sharply in the second quarter of the year due to Beijing’s tough Covid shutdowns, official data shows
Hungary probed over fuel subsidies
The EU opened a probe against Hungary over a fuel-price cap that only applies to those with local license plates, Bloomberg reports.