This is a devastating blow
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Italian banks hit with surprise windfall tax
Italy has passed a one-off 40% tax on the profits banks earn from higher interest rates, in a shock move that has seen shares plummet. A hike in official interest rates has resulted in record profits for Italian banks, prompting the government’s move. Proceeds will be used to help mortgage holders and to cut taxes,…
Red Sea crisis explained: what is happening and what does it mean for global trade?
Attacks from the Houthis on shipping vessels have increased in response to the war in Gaza, with BP halting all shipments of oil and gas through the region Global supply chains are once again under threat, as the impact of the ongoing war between Israel and Hamas ripples out across the Middle East. In recent weeks, Houthi…
India bans rice shipments to curb price rises
India has outlawed the export of non-basmati white rice in an attempt to ward off looming domestic price spikes. Heavy rains have hurt crops in the country and rice prices have risen by more than 11% over the last 12 months. Non-basmati white grain currently accounts for about a quarter of India’s rice exports, the…
- Breaking News | India | News
India sidesteps condemning US, Israel at BRICS meeting
Iranian Foreign Minister Abbas Araghchi says there is no military solution to issues involving Iran, and Tehran will not surrender to pressure or threats. Indian Foreign Minister Subrahmanyam Jaishankar said on Thursday that unimpeded maritime flows through international waters, including the Strait of Hormuz, are vital for global economic well-being. Jaishankar was speaking at the…
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Chinese scientists use lunar soil to produce water, state media reports
BEIJING, Aug 22 (Reuters) – Chinese scientists have discovered a “brand-new method” of producing large quantities of water using lunar soil brought back from a 2020 expedition, state broadcaster CCTV reported on Thursday. In 2020, China’s Chang’e-5 mission marked the first time humans retrieved lunar samples in 44 years. Researchers from the state-run Chinese Academy…
Vietnam irks EU by delaying meeting ahead of possible Putin visit
HANOI, May 9 (Reuters) – Vietnam’s foreign affairs ministry has annoyed the European Union by postponing a meeting next week with the EU’s top official on Russian sanctions, ahead of a possible visit to Hanoi by Russia’s President Vladimir Putin. Vietnam has been striving to pursue a neutral foreign policy in its relations with major…
