Exxon sues EU in move to block new windfall tax on oil companies

Exxon sues EU in move to block new windfall tax on oil companies

Dec 29 (Reuters) – U.S. oil major Exxon Mobil Corp (XOM.N) is suing the European Union in a bid to force it to scrap the bloc’s new windfall tax on oil groups, arguing Brussels exceeded its legal authority by imposing the levy. Record profits this year by oil companies benefiting from high energy prices have … Read more

India makes inroads into Sri Lanka under China’s long shadow

India makes inroads into Sri Lanka under China’s long shadow

COLOMBO/NEW DELHI, Dec 27 (Reuters) – When Sri Lanka slid into its worst economic crisis in seven decades leading to deadly riots and alarming shortages of fuel, food and medicines earlier this year, its giant northern neighbour stepped into the breach. India provided about $4 billion in rapid assistance between January and July, including credit … Read more

Russia explores buying stranded jets from Western leasing firms

Russia explores buying stranded jets from Western leasing firms

Some 400 jets worth $10 billion stranded by war $644 mln offered for 17 Aeroflot aircraft -letter Russian plan would use its National Wealth Fund Required EU approval not yet forthcoming -sources DUBLIN/LONDON, Dec 22 (Reuters) – Russian airlines have held exploratory talks with at least one major Western leasing firm about using state funds … Read more

Eastern Europe holds the key to keeping Ukraine’s power on

Eastern Europe holds the key to keeping Ukraine’s power on

Eastern Europe has power grids compatible with Ukraine’s Russian attacks on infrastructure causing extensive damage Ukraine has sent list of hardware it needs from overseas VILNIUS/WARSAW, Dec 21 (Reuters) – In Lithuania, a giant, disused electrical transformer built in 1980 in present-day Ukraine has been dusted off and prepared for shipment. It will travel by … Read more

The world fears a new China COVID wave, ponders how to help Xi

The world fears a new China COVID wave, ponders how to help Xi

WASHINGTON, Dec 20 (Reuters) – Officials and global health experts outside China are anxiously watching a COVID-19 surge there, worried a nation of 1.4 billion people is inadequately vaccinated and may not have the healthcare tools to treat a wave of illness expected to kill more than one million people through 2023. Some U.S. and … Read more

Medical device makers drop products as EU law sows chaos

Medical device makers drop products as EU law sows chaos

LONDON, Dec 19 (Reuters) – Nicola Osypka’s German company has been selling medical devices used in surgery on newborn babies in Europe for decades, but new European Union rules have forced her to make tough decisions. Under the regulations designed to prevent another health scandal, such as the one in 2010 involving ruptured breast implants … Read more

Biden blacklists China’s YMTC, crackdowns on AI chip sector

Biden blacklists China’s YMTC, crackdowns on AI chip sector

WASHINGTON, Dec 15 (Reuters) – The Biden administration on Thursday added Chinese memory chipmaker YMTC and 21 “major” Chinese players in the artificial intelligence chip sector to a trade blacklist, broadening its crackdown on China’s chip industry. YMTC, long in the crosshairs of the U.S. government, was added to the list over fears it could … Read more

China’s factory, retail sectors skid as COVID hits growth

China’s factory, retail sectors skid as COVID hits growth

China’s industrial output growth slows more than expected Retail sales contraction deepens Property investment falls most in over two decades Nationwide jobless rate climbs Near-term outlook darkens following COVID relaxation – analysts BEIJING, Dec 15 (Reuters) – China’s economy lost more steam in November as factory output slowed and retail sales extended declines, both missing … Read more

China’s COVID spike not due to lifting of restrictions, WHO director says

China’s COVID spike not due to lifting of restrictions, WHO director says

WHO says China’s control measures were not stopping COVID-19 Countries should ask are the right people sufficiently vaccinated Open channels between China and WHO – Ryan GENEVA, Dec 14 (Reuters) – COVID-19 infections were exploding in China well before the government’s decision to abandon its strict “zero-COVID” policy, a World Health Organization director said on … Read more

Indonesia books bigger-than-expected Nov trade surplus of $5.2 bln

Indonesia books bigger-than-expected Nov trade surplus of $5.2 bln

JAKARTA, Dec 15 (Reuters) – Indonesia posted a larger-than-expected trade surplus last month, as imports unexpectedly contracted on a yearly basis while exports slowed, official data showed on Thursday. November imports were down 1.89% on a yearly basis to $18.96 billion, compared with a prediction of a 7% increase in a Reuters poll. Southeast Asia’s … Read more