The EU will seek a global phase-out of fossil fuels and for their use to reach a peak in this decade, according to the member states' common position adopted unanimously late Monday.
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Sticky UK inflation stokes Bank of England rate-cut debate
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UK unveils plans for 'biggest nuclear power expansion in 70 years'
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Heathrow exec appointed new head of Britain's Royal Mail
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Competition Commission questions high sunflower oil prices, suspects price gouging is at play
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China signs landmark trading duty-free deal with South Africa
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New EU spending rules bring back debt discipline focus
With an energy crisis and record high inflation in the EU's rearview mirror, Brussels believes the time has come for the bloc to focus on ensuring sound public finances. The indebted countries -- for example, Italy whose debt is 140 percent of GDP -- believed the pact was a straitjacket that penalised public investment.
Denmark launches its biggest offshore wind farm tender
The Danish Energy Agency on Monday launched its biggest tender for the construction of offshore wind farms, aimed at producing six gigawatts by 2030 -- more than double Denmark's current capacity. This is a massive investment in the green transition," Kristoffer Bottzauw, head of the Danish Energy Agency, said in a statement.
Malaysia to build massive chip design park: PM
Malaysia's leader on Monday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation's role in the global chip industry.
Markets bounce as MidEast fears ease, US inflation in view
Asian markets rose Monday, clawing back some of last week's losses, as Middle East worries subsided while traders look ahead to the release of key US inflation data and corporate earnings. The disappointing CPI data has dented hopes for a cut in June, while traders have scaled back their outlook for how many the Fed will make this year.
SAA puts route expansion on hold while chair Derek Hanekom courts investors
SAA chairperson Derek Hanekom says plans to expand routes will be suspended. The airline is still seeking potential investors after the failed Takatso deal.
Slovenia's umbrella doctor weathers the economic storm
While most people believe a malfunctioning umbrella means you have to buy a new one, Slovenian Marija Lah -- one of Europe's last umbrella repairers -- has spent her life proving them wrong. Another customer, Katja Buda, who brought her grandmother's umbrella for repair, described "Mrs Marija" as "a saviour" and regretted the vanishing profession.
Israel holds Palestinian economy captive, say analysts
The Gaza war is speeding up Israel's "annexation" of the Palestinian economy, say analysts, who argue it has been hobbled for decades by agreements that followed the Oslo peace accords. Samara said that "technically speaking, there is no Palestinian economy under Israeli occupation -- our economy has been effectively annexed by Israel's".
Splashy Saudi mega-project NEOM chases Chinese funds
Bigwigs behind a Saudi megacity dogged by questions about its viability have wrapped up a tour courting Chinese investors, detailing plans for a futuristic ski resort and 170-kilometre-long skyscrapers. Trojena, the futuristic ski resort boasting a manmade lake and 36 kilometres of slopes, must be finished before 2029, when it is set to host the Asian Winter Games.
Mass protests in Canary Islands decry overtourism
Tens of thousands of demonstrators hit the streets across Spain's Canary Islands on Saturday to demand changes to the model of mass tourism they say is overwhelming the Atlantic archipelago. Organisers say mass tourism perpetuates an economic model that harms local residents and are demanding the authorities limit the numbers.
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