IBT Staff Reporter

The Group of Seven club of wealthy nations on Monday vowed to stand with Ukraine "for as long as it takes", promising to tighten the squeeze on Russia's finances with new sanctions that include a proposal to cap the price of Russian oil.

The Group of Seven club of wealthy nations on Monday vowed to stand with Ukraine "for as long as it takes", promising to tighten the squeeze on Russia's finances with new sanctions that include a proposal to cap the price of Russian oil.

The Group of Seven rich democracies will commit on Tuesday to a new package of coordinated actions meant to raise pressure on Russia over its war in Ukraine, and will finalise plans for a price cap on Russian oil, a senior U.S.

The Group of Seven rich democracies will commit on Tuesday to a new package of coordinated actions meant to raise pressure on Russia over its war in Ukraine, and will finalize plans for a price cap on Russian oil, a senior U.S. official said Monday.

Hong Kong on July 1 will mark its 25th anniversary under Chinese rule.

The foreign minister of Tuvalu pulled out of the United Nations Ocean Conference opening in Portugal on Monday after China blocked the participation of three Taiwanese included in the tiny Pacific island nation's delegation list, according to Radio New Zealand.

European shares closed at a two-week high on Monday, boosted by miners as an easing of COVID-19 restrictions in China lifted global sentiment, while Prosus shares rallied on the Dutch company's plans to trim its Tencent stake.

Australia's carbon emissions rose nearly 1% in 2021, as driving and travel picked up and manufacturing activity recovered in the revival from COVID-19, the government said on Monday.

Sri Lanka will shut schools and only allow fuel supplies to services deemed essential like health, trains and buses for two weeks starting Tuesday, a minister said, in a desperate attempt to deal with a severe shortage.

Sri Lanka expects to run out of fuel in days, prompting the government to close schools in Colombo and order government employees to work from home, while troops handed tokens to people lining up for petrol to keep their places in the queue.

Troops in Sri Lanka handed tokens on Monday to people queueing for petrol amid a severe fuel shortage in the nation battling its worst economic crisis in seven decades, while schools shut in Colombo and public employees were asked to work from home.

Toshiba Corp's shareholders are expected to endorse all proposed directors, including two from its hedge fund investors, on Tuesday in a move that could mark a crossroads for the 146-year-old Japanese conglomerate and hasten a potential buyout.

Pakistan's aviation regulator has made masks mandatory on domestic flights given a gradual rise in the number of COVID-19 cases across the country, it said a statement.

U.S. shale oil producers are returning to existing wells and giving them a second, high-pressure blast to lift output for a fraction of the cost of a finishing a new well.

Fifty years ago, a group of LGBT+ campaigners marched from London's Trafalgar Square to Hyde Park to protest against discrimination and fight for acceptance in the city's first ever Pride rally.

Iron ore prices have slipped for three straight weeks, with the decline reflecting an evaporation in confidence over China's economic stimulus, which in turn threatens to hit demand for the steel raw material in coming months.

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Some Taiwanese holders of Russian Eurobonds have not received interest due on May 27 after a grace period expired on Sunday evening, two sources said, potentially setting Moscow on track for its first major external sovereign default in over a century.

Japan scrambled on Monday to avert a looming power crunch as temperatures climbed nationwide, with authorities warning of higher than expected demand after the rainy season ended in the capital, Tokyo, at its earliest since record-keeping began.

Japan prepared on Monday for a possible power crunch as temperatures climbed nationwide, with authorities warning of higher than expected demand as the rainy season ended in the capital, Tokyo, at the earliest since record-keeping began.

The U.S. dollar struggled versus its major rivals on Monday as softening inflation expectations prompted a reassessment of the prospects for aggressive interest rate hikes but volatile markets cushioned a broader decline.

The U.S. dollar struggled versus its major rivals on Monday as softening inflation expectations prompted a reassessment of the prospects for aggressive interest rate hikes but volatile markets cushioned a broader decline.

The U.S. dollar struggled versus its major rivals on Monday as softening inflation expectations prompted a reassessment of the prospects for aggressive interest rate hikes but volatile markets cushioned a broader decline.

The dollar and Japanese yen both found support in a choppy Asia session on Monday, benefiting from a bid for safety as investors worried rising interest rates and softening economic data could signal a global recession is on the horizon.

The dollar found support from investors worried about recession and seeking safety to hold just below a two-decade high on Monday, having slipped late last week after downbeat U.S.

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World shares extended their gains on Monday, building on Friday's strong Wall Street close, while oil prices came off their peaks, improving sentiment and tempering concerns of prolonged inflation.