German Chancellor Olaf Scholz is expected to sign contracts for liquefied natural gas (LNG) during his visit to the United Arab Emirates on Sunday, his deputy chancellor said, as Germany looks for new partners to replace Russian energy imports.
Norway’s central bank is expected to raise its benchmark interest rate again this week and signal a continued rise in the cost of borrowing in the fourth quarter to combat inflation, a Reuters poll showed on Monday.
European governments outlined new measures on Monday to cope with potential energy shortages this winter and raced to improve energy networks to share power, with Russian gas flows still running at severely reduced rates amid the Ukraine war.
The Ministry of Finance (MoF) has proposed a reduction of the most favoured nation (MFN) tariff on a number of petrol products widely used in industrial production from 20 per cent to 10 per cent in an attempt to bring down the economy’s input cost.
The underlying pressures driving inflation in Canada are likely to peak in the fourth quarter of this year, economists told Reuters, though most see signs fast rising prices are becoming entrenched and warn a recession may be needed to avoid a spiral.