World food prices fell sharply in July, partly thanks to a deal between Ukraine and Russia lifting a sea blockade that had stopped Ukrainian grain shipments, a U.N. agency said Friday.
Food prices soared to a record high in March after Russia invaded Ukraine, raising fears that the conflict between two of the world's breadbaskets would spark hunger in countries relying on their exports.Full Story
Elon Musk accused Twitter of fraud in a countersuit over his aborted $44 billion deal for the social media company, which he said held back necessary information and misled his team about its true user base, according to media reports.
According to The Washington Post, the countersuit filed by the billionaire and Tesla CEO filed Thursday alleges that Twitter committed fraud, breach of contract and violation of the Texas Securities Act.Full Story
Representatives of Dutch farmers were meeting Friday with Prime Minister Mark Rutte and other Cabinet ministers to discuss the government's nitrogen emissions reduction goals that have sparked disruptive protests in recent weeks.
But the prospect of success appeared slim, with two main activist farmers' organizations demanding concessions and not attending because they have no trust in the veteran politician appointed to act as intermediary. They say the mediator, Johan Remkes, is not independent.Full Story
Three more ships with grain have left Ukrainian ports and are headed to Turkey for inspection, Turkey's defense ministry said Friday, evidence that a U.N.-backed deal is working to export Ukrainian grain that has been trapped by Russia's invasion.
The three ships are loaded with over 58,000 tons of corn. Much of the grain that Ukraine exports is used as animal feed, experts say.Full Story
The Association of Banks in Lebanon has announced a strike starting Monday, as it said in a statement that banks can no longer bear harmful and populist measures against them.
The Banks Association decried the arrest of the Chairman of Creditbank, stressing that banks should not be blamed for the economic situation.Full Story
Morocco's Prime Minister Aziz Akhannouch, a billionaire petrol baron, is facing a growing online campaign demanding he step down as fuel prices -- and energy firms' profits -- surge.Full Story
A Syrian ship that Ukraine says is carrying stolen Ukrainian grain has left a Lebanese port after officials in Lebanon allowed it to sail following an investigation, Lebanon's transport minister tweeted on Thursday.
The Syrian-flagged Laodicea had been anchored at the port of Tripoli since it arrived last Thursday, carrying 10,000 tons of wheat flour and barley. Ukraine says the grain was stolen by Russia, a claim it denies.Full Story
German Chancellor Olaf Scholz on Wednesday raised the possibility of keeping nuclear plants going as he accused Russia of blocking the delivery of a key turbine to throttle gas supplies to Europe.Full Story
The United Nations chief sharply criticized the "grotesque greed" of oil and gas companies on Wednesday for making record profits from the energy crisis on the back of the world's poorest people, "while destroying our only home."
Secretary-General Antonio Guterres said it was "immoral" that the largest energy companies in the first quarter of the year made combined profits of close to $100 billion.Full Story
The OPEC+ group of major oil exporters began talks on its output strategy on Wednesday after U.S. President Joe Biden lobbied Saudi Arabia to boost production to tame soaring prices.
The cartel led by Saudi Arabia and Russia has so far resisted U.S. pressure to ramp up production significantly after Moscow's invasion of Ukraine sent oil prices soaring.Full Story