IBT Staff Reporter

Indonesia on Wednesday launched road tests for two types of biodiesel containing 40% palm oil, hoping to conclude by the end of the year whether they are viable for public use, the energy ministry said.

A member of parliament fined $7 million for corruption and handed a 67-year jail term; a top civil servant with an asset seizure order against her; lawmakers convicted of bribery, economic crimes and impersonating corruption investigators.

Russia delivered less gas to Europe on Wednesday in a further escalation of an energy stand-off between Moscow and the European Union that will make it harder, and costlier, for the bloc to fill up storage ahead of the winter heating season.

Russia delivered less gas to Europe on Wednesday in a further escalation of an energy stand-off between Moscow and the European Union that will make it harder, and costlier, for the bloc to fill up storage ahead of the winter heating season.

Russia delivered less gas to Europe on Wednesday in a further escalation of an energy stand-off between Moscow and the European Union that will make it harder, and costlier, for the bloc to fill up storage ahead of the winter heating season.

South Korea's prime minister said on Wednesday he would recommend to the president a pardon for Jay Y.

Rio Tinto reported a 29% drop in first-half profit and more than halved its dividend on Wednesday, as weaker iron ore prices due to cooling demand from top consumer China, higher costs and labour shortages hurt the global miner.

Not convinced by central banks' pledge to stamp on inflation, many investors are on the hunt for assets that will protect their portfolios from years of decline in the value of money.

Scientists advising the World Health Organization (WHO) on monkeypox say the window is closing to stop its spread, with cases currently doubling every two weeks, raising concerns that it will take several months for the outbreak to peak.

Danone raised its annual revenue growth forecast after its second-quarter sales beat analysts' estimates on strong demand for baby food and bottled water, even as the company raised prices to mitigate higher costs.

Drought threatens Spain's 'green gold' harvest

UniCredit raised its 2022 outlook on Wednesday after a surprisingly strong second quarter in which it cut exposure to Russia and moved ahead with a proposed share buyback it had put on hold.

Ground staff at Deutsche Lufthansa went on strike early Wednesday, prompting the cancellation of more than 1,000 flights, and adding to travel disruptions during the busy summer travel season.

Mercedes-Benz is boosting its supply chain by dealing directly with chipmakers and forming contingency plans to cut gas usage by up to 50% in Germany, it said on Wednesday, raising its full-year financial guidance after a strong second quarter.

Deutsche Bank posted a better-than-expected 51% rise in second-quarter profit on Wednesday as investment banking revenues rose, though the lender was less optimistic about the division's prospects for the full year and warned about the economic outlook.

The Federal Reserve said on Wednesday it would not flinch in its battle against the most intense breakout of inflation in the United States since the 1980s even if that means a "sustained period" of economic weakness and a slowing jobs market.

The Federal Reserve raised its benchmark overnight interest rate by three-quarters of a percentage point on Wednesday in an effort to cool the most intense breakout of inflation since the 1980s, and U.S.

The Federal Reserve raised its benchmark overnight interest rate by three-quarters of a percentage point on Wednesday in an effort to cool the most intense breakout of inflation since the 1980s, with "ongoing increases" in borrowing costs still ahead despite evidence of a slowing economy.

Sri Lanka's parliament approved the extension of a state of emergency for a month on Wednesday, a lawmaker said, in a bid to get a grip on a political and economic crisis that has forced a change of leadership.

Singapore has permitted former Sri Lankan president Gotabaya Rajapaksa to stay in the island republic for an additional 14 days, two sources familiar with the matter told Reuters on Wednesday.

Singapore has permitted former Sri Lankan president Gotabaya Rajapaksa to stay in the island republic for an additional 14 days, two sources familiar with the matter told Reuters on Wednesday.

The International Monetary Fund (IMF) said on Wednesday it would discuss with Bangladesh its loan request after the country became the third in South Asia to seek such support after Pakistan and Sri Lanka.

Bangladesh has asked to start talks on a loan from the International Monetary Fund (IMF) but will take it only if conditions are favourable, the finance minister said on Wednesday, adding its macroeconomic conditions were fine.

The top U.S. consumer watchdog plans to scrutinize the use of cryptocurrencies for real-time payments and ramp up oversight of Big Tech companies as they expand into the traditional financial sector, its director told Reuters.

Germany's BASF, the world's largest chemical company, is cutting ammonia production further due to soaring natural gas prices, it said on Wednesday, with potential ramifications from farming to fizzy drinks.

Germany's BASF, the world's largest chemical company, is considering further cuts to ammonia production due to soaring natural gas prices, two sources familiar with the matter said, with potential ramifications from farming to fizzy drinks.

New Zealand's government said on Wednesday new COVID-19 cases were trending down and it looked likely the country would avoid a feared worst-case scenario of 20,000 infections daily.

Australia sees the world's climate emergency as an opportunity to create jobs, the new Labor government said on Wednesday, introducing legislation to enshrine an emissions reduction target.

North Korea's economy shrank in 2021 for a second straight year after suffering its biggest contraction in more than two decades the previous year amid U.N.