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European stocks, oil prices rebound
European stocks, oil prices rebound
Business and Economy
by  AFP

European stock markets and oil prices recovered Friday following heavy losses this week on fears that interest rate hikes aimed at cooling decades-high inflation will spark a global recession. The slight recoveries come after global markets have been thrown into turmoil for months owing to soaring inflation, interest-rate hikes, the Ukraine war and China lockdowns.

Drought hits Italy's hydroelectric plants
Drought hits Italy's hydroelectric plants
Business and Economy
by  AFP

Hydroelectric power in Italy has plunged this year thanks to a drought that has also sparked water restrictions and fears for agriculture, industry sources said Friday. An industry source told AFP that while the situation was constantly changing, estimates for the first six months of 2022 suggest nationwide hydroelectric generation will be almost half the equivalent period of 2021.