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UK inflation dips less than expected in May
UK inflation dips less than expected in May
by  AFP

British inflation eased less than expected in May after surging in April, official data showed Wednesday, fuelling expectations that the Bank of England will hold interest rates steady this week. The inflation update followed official data last week showing that Britain's economy shrank more than expected in April.

Energy transition: how coal mines could go solar
Energy transition: how coal mines could go solar
by  AFP

Disused coal mines could be refashioned to place vast fields of solar panels, a new report suggests, providing an unlikely solution to a common obstacle to uptake of the green energy source. Coal mine-to-solar conversions are already happening in some countries, most notably China, which leads the world in solar uptake.

Taiwan's entrepreneurs in China feel heat from cross-Strait tensions
Taiwan's entrepreneurs in China feel heat from cross-Strait tensions
by  AFP

Bustling Taipei-style shopping streets, majestic temples to the island's deities and thriving factories dot the eastern Chinese city of Kunshan, for years a hub for Taiwanese businesses. - No guarantee of safety - An hour's drive from economic powerhouse Shanghai, Kunshan has been a key hub for Taiwanese-owned industry in China since the 1990s.

Oil stabilises after surge, stocks drop as Mideast crisis fuels jitters
Oil stabilises after surge, stocks drop as Mideast crisis fuels jitters
by  AFP

Oil prices stabilised Wednesday after surging the previous day on fears of a US intervention in the Israel-Iran conflict sparked by Donald Trump calling for Tehran's "unconditional surrender". The comments sent oil prices spiking more than four percent Tuesday on fears an escalation of the conflict could hammer supplies from the crude-rich region.

Bali flights cancelled after Indonesia volcano eruption
Bali flights cancelled after Indonesia volcano eruption
by  AFP

At least two dozen flights to and from the Indonesian resort island of Bali have been cancelled, its international airport website showed Wednesday, after a volcano in the archipelago's east erupted, shooting an ash tower 10 kilometres into the sky.

EU chief says pressure off for lower Russia oil price cap
EU chief says pressure off for lower Russia oil price cap
by  AFP

EU Commission Chief Ursula von der Leyen on Tuesday said surging energy prices have reduced the urgency to slash the price cap on Russia's global oil exports. The current $60 cap "had little effect, but in the last days, we have seen that the oil price has risen [and] the cap in place does serve its function," von der Leyen told reporters on the sidelines of the G7 meeting.