Energy Minister Reiche rejected another reduction to the gas tax (file photo)Image: Johannes Neudecker/dpa/picture alliance Economic and Energy Minister Katherina Reiche said that no additional state measures were planned to combat high gas prices. In May, the federal government had reduced tax on gasoline and diesel by 17 cents in order to combat the rise in the price of fuel at the pump due to the Iran war. But the tax reduction expired at the end of June. Since then, prices have risen quickly, fueled also by the resumption of hostilities in the Middle East, and the closure of the Strait of Hormuz. Currently, the average price of one liter of…

Oil prices jumped more than 4% Wednesday, with international benchmark Brent Crude trading over $95 a barrel – a $20 rise since the U.S. and Iran resumed fighting on July 7. Shippers remain reluctant to transit the Strait of Hormuz, despite U.S. Central Command insisting again Tuesday night that it "remains open." Iran has continued to attack vessels in the waterway, as well as U.S. allies across the Persian Gulf and elsewhere in the Middle East. An Iranian national flag flies above the new Phase 3 facility at the Persian Gulf Star Co. gas condensate refinery in Bandar Abbas, Iran, on Wednesday, Jan. 9, 2019. Ali Mohammadi / Bloomberg via Getty Images…

MOSCOW, July 22. /TASS/. The Russian Foreign Ministry outlined the conditions for keeping the Group of Twenty (G20) as the leading economic forum where countries seek answers to contemporary challenges on level terms, Russian Foreign Ministry Ambassador-at-Large Marat Berdyev told TASS in an interview. "We will strive to realize this scenario, which means coordinating all positions and finding common ground. It's crucial that the G20 remain the leading economic forum where the conventional East and West interact on level terms and seek collective answers to contemporary challenges," he reported. As Berdyev noted, Russian sherpa Denis Agafonov clearly…

Ecuador · Business Key Facts —Plan name. Agenda de Crecimiento Ecuador 2040, a 15-year policy roadmap. —IDB pledge. US$7.5 billion over five years, potentially rising to US$10.5 billion. —Initial loan. A US$200 million policy-based loan was approved for tax and energy reforms. —Four pillars. Institutional strength, fiscal stability, competitiveness, and financial depth. —Priority sectors. Mining, energy, agribusiness, manufacturing, and tourism for private investment. Ecuador formally presented its Agenda de Crecimiento Ecuador 2040 on July 21, 2026, a 15-year policy roadmap designed to lift employment, attract investment, and reshape the business…

Penny Wong will warn China that Australia and other neighbouring nations will not be bullied by its “provocative” actions, after its involvement in another “destabilising and dangerous” incident this week. The foreign affairs minister – who will deliver the address on Thursday in the Philippines, where the 59th Asean foreign minister’s meeting is being held – will also caution world leaders against placing a toll on the strait of Hormuz after both Iran and the US threatened to do amid the protracted conflict. The speech comes as the crisis in the Middle East escalates once again, driving up fuel prices by 40 cents in three weeks amid dwindling global…

As part of the escalating NATO-Ukraine front against Russian energy infrastructure, on the night of July 17 a Liberian-flagged crude oil tanker was struck twice by drones. A subsequent fire on board forced the vessel to cancel its call at the Caspian Pipeline Consortium (CPC) Black Sea terminal. The CPC is a 1,510-km oil pipeline connecting Kazakhstan’s Caspian Sea oil fields with Russia’s Black Sea port of Novorossiysk, and it brings roughly 80% of Kazakhstan’s oil exports to the world market. Its operations have been disrupted at various points during the war by Ukrainian attacks on pumping stations in Russia and by drone strikes on the CPC loading…

Brent crude moved up around 1 per cent to northwards of US$92, the highest intraday price since Jun 11, as President Donald Trump said the United States was "not finished" attacking Iran. The US military said it completed an 11th consecutive night of strikes to "further degrade Iran's ability to threaten commercial shipping in the Strait of Hormuz". Trump also said he would "take care of" Yemen's Iran-backed Houthi rebels if they followed through on a threat on Monday to blockade Saudi Arabia's ports. "Our view is that we'll be kind of in this US$80 to US$90 range, depending on the news flow," said Jay Hatfield at Infrastructure Capital Management…

Houthi blockade 'likely to increase disruption' to Saudi oil exports To recap, the Houthis, who control northern and western Yemen including the coast at the mouth of the Red Sea, announced a naval blockade on Saudi Arabia on ⁠Monday. The announcement already appears to be having an impact. Two tankers which had just loaded Saudi crude bound for China and India at Saudi Arabia’s Red Sea port of Yanbu made U-turns on Tuesday, heading towards the Suez Canal rather ‌than out through the Bab el-Mandeb into the Indian Ocean. Assessing the situation, British maritime risk management group Vanguard said: double quotation markThe developments represent the…

ISLAMABAD: The All Pakistan Petrol Pumps Owners Association (APPPOA) on Tuesday announced a nationwide strike from Wednesday night after negotiations with the government over daily petroleum pricing failed. Speaking to the media after a meeting with the government’s team, led by Petroleum Minister Ali Pervaiz Malik, APPPOA representatives said their hour-long talks over the daily fuel pricing mechanism had “failed” to reach an agreement and that they were therefore left with no option but to go on an indefinite strike, as it was an issue of survival for them. The APPPOA delegation comprised Chairman Humayun Khan, Vice Chairman Nauman Ali Butt and…

SEOUL, July 22 (Yonhap) -- Samsung Heavy Industries Co., a major South Korean shipbuilder, said Wednesday it has signed a memorandum of understanding (MOU) with U.S. engineering firm Sargent \& Lundy (S\&L) to jointly develop floating small modular reactors (FSMRs). The agreement aims to develop a standardized FSMR platform that can accommodate a range of reactor technologies rather than a single reactor type, the company said in a press release. "This will provide unrivaled versatility, enabling the integration of various reactor types and offering global customers greater flexibility in selecting reactor technologies," it said. The collaboration is…

The sun sets behind oil pumps outside Vaudoy-en-Brie, near Paris, France, March 18, 2026—REUTERS Oil prices extended gains to trade near six-week highs on Wednesday as fears of further supply disruptions intensified after US forces struck Iranian military targets for the 11th straight night, while ​oil tankers made U-turns in the Red Sea after warnings by the Iran-backed Houthi militia. Brent crude ‌futures rose $1.84, or 2.0%, to $92.85 a barrel, the highest since June 11. US West Texas Intermediate crude climbed $1.67, or 2%, to $86.01, its highest since June 12. The gains came after oil settled at a five-week high on Tuesday in the ​wake of US…

A total of 21.9 metric tons of equipment donated by Lithuania has been delivered to the Kharkiv region from the Ministry of Energy’s emergency energy aid warehouses. According to Ukrinform, the Ministry of Energy announced this on Facebook. It is noted that electric motors, circuit breakers, shut-off valves, pumps, valves, and four power transformers were delivered to the region. The equipment, with a total weight of 21.9 metric tons, will help speed up repairs and increase the resilience of critical infrastructure in the Kharkiv region. As previously reported, the stockpile of energy equipment to be accumulated by next winter is expected to be three…

As another stretch of hot weather grips the Okanagan, a new report is asking a simple question: How hot is too hot to work? Researchers with BC Policy Solutions say B.C.’s heat exposure regulations have not kept pace with increasingly frequent extreme heat. According to the report, heat exposure regulations have not been substantially updated since 2005. The report points to a sharp rise in heat-related illness claims following the 2021 heat dome, arguing that stronger protections are needed before more workers are injured. For workers who work outside like roofers, the dangers are all too familiar. Outdoor workers like roofers have become experts in…

The government on Tuesday increased the price of petrol by Rs4.93 and that of high-speed diesel (HSD) by Rs7.15 per litre to pass on the impact of fluctuating global prices following renewed regional hostilities in the Persian Gulf. Following the changes, the price of petrol stands at Rs320.73 per litre and that of HSD at Rs367.21. The Petroleum Division’s notification said the new prices would be applicable on July 22 (Wednesday). The diesel price has come down from a peak of Rs520.35 recorded on April 3. Its price had started rising from Rs281 per litre after the US-Iran war broke out on February 28. The petrol price had peaked at Rs458.41 on April…

The climate-driven water crisis is becoming a housing crisis as builders increasingly face challenges in securing sufficient water supplies for new residential developments. Now, Japanese firm Kubota is promoting its water infrastructure business, aiming to provide developers of suburban subdivisions with an unlimited source of water through a technology that extracts H2O from the air. In a deal announced Tuesday, Kubota is buying atmospheric water harvesters made by Delaware-based AirJoule to be initially deployed in California and Texas. Both states require developers demonstrate to that they have secured long-term access to water supplies to…

Zelenskyy paid tribute to Syrskyi, crediting him with leading the defence of Kyiv and launching a counter-invasion of Russia’s Kursk province. Drapatyi, his replacement, is well regarded within Ukraine’s army and liked by the public, Harding writes. He is viewed as an ally of Fedorov, a tech-savvy moderniser. A major general, Drapatyi is commander of Ukraine’s joint forces group and has been fighting Russia since its covert attempt in 2014 to take over the eastern Donbas region. He is famed for driving an infantry fighting vehicle over a barricade set up by pro-Russian militants in Mariupol. The Kremlin lamented the Ukrainian attacks on warehouses of…

Your support helps us to tell the story From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story. The Independent is trusted by Americans across the entire political…

Topline The Freedom Fuel Network, a private company that launched more than two dozen gas stations across New Jersey and Pennsylvania, is reportedly no longer selling fuel at the sharply discounted price of $3.47 per gallon, which was done in an apparent nod to President Donald Trump. Analysts had said discounts offered by the Trump-promoted stations were unrealistic. Copyright 2026 The Associated Press. All rights reserved. Key Facts Several Freedom Fuel stations, including some locations in and around Philadelphia and southern New Jersey, sold gas at around $3.92 as of Monday while nearby competitors charged between $3.89 and $4.09, The Philadelphia…

Your support helps us to tell the story From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story. The Independent is trusted by Americans across the entire political…

Japan is turning to five lesser-used straits in Southeast Asia as insurance against the next maritime shock, with plans to create detailed nautical charts for ships to navigate through these waters and bring vital goods to its economy. Tokyo would work with Indonesia and the Philippines to chart their respective straits, the foreign ministry told the Yomiuri newspaper, as it stepped up efforts to mitigate disruption to global trade arising from the ongoing crisis in the Strait of Hormuz. The project is designed to give commercial shipping more confidence in alternative passages – with the latest data on depths, hazards and navigational aids – if ships…

Two oil tankers carrying Saudi crude to Asia reversed course in the Red Sea on Tuesday after threats from Yemen's Iran-aligned Houthis, as a widening Middle East conflict disrupted shipping through two of the world's most critical energy chokepoints. The U.S. military bombed targets in Iran for an 11th straight night, saying those targets included aircraft hangars and drone storage sites. Tehran residents reported hearing explosions in the early hours of Wednesday as Iran activated its air defences over the capital, Iran's semi-official Fars news agency said. Iran's state-run IRNA news agency reported that explosions rocked Bushehr, East Azerbaijan,…

As of July 21, 2026, about 1.8 GW of distributed gas-fired generation capacity has been installed in Ukraine. The Ukrainian Energy Ministry reported this based on data from the regions, according to Ukrinform. The Kyiv region leads in the installation of gas-fired cogeneration units, with more than 219 MW installed. More than 100 MW of capacity has also been installed in the Cherkasy region (129.3 MW), Dnipropetrovsk region (118.2 MW), Volyn region (113.6 MW), Ivano-Frankivsk region (108.8 MW), Sumy region (103.6 MW), and Zakarpattia region (100.3 MW). "Under the regional resilience plans, 388.8 MW of gas-fired generation capacity has been…

Bangkok office landlords are offering a range of incentives, including barter deals, as competition for tenants intensifies. (Bangkok Post file photo) Despite no new office completions in the second quarter of 2026, Bangkok's office market remained highly competitive as landlords of new buildings increasingly offered barter deals and matched incentives provided by owners of older properties. Aukit Pronpattanapairoj, head of office leasing at property consultancy Cushman \& Wakefield Thailand, said competition in Bangkok's office market has remained intense as landlords focus on filling vacant space. "Competition has shifted beyond traditional pricing…

Your support helps us to tell the story From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story. The Independent is trusted by Americans across the entire political…

Mr Ekniti says Thailand can reach the top 20 in competitiveness rankings. The government wants Thailand to break into the top 20 in a global competitiveness ranking over the next four years, rising from 26th. Finance Minister Ekniti Nitithanprapas said the administration also seeks to raise the country's potential economic growth rate from the 2.7% estimated by the Bank of Thailand to more than 3%. Speaking at a Stock Exchange of Thailand (SET) seminar On Tuesday, Mr Ekniti said the Board of Investment's (BoI) investment strategy is no longer focused primarily on the number or value of investment projects, but rather on the quality of investment,…

More than a thousand new surveillance towers will be erected along U.S. borders, according to a recent Department of Homeland Security (DHS) assessment by the Government Accounting Office. The expanded autonomous surveillance plan, including tech upgrades to existing towers overseen by DHS, is estimated to cost around $1 billion and aims to be finished by 2034. Upon completion, the country's borders will boast 2,300 surveillance towers — it currently operates around 830, the Electronic Frontier Foundation reports. The expenditure is part of the Customs and Border Protection's (CBP) consolidated Integrated Surveillance Tower (IST) program, which…

Enugu Air has taken another significant step in its drive to establish itself as a competitive player in the global aviation industry with its participation at the 2026 Farnborough International Airshow in the United Kingdom, one of the world’s largest and most influential aerospace and aviation exhibitions. The airshow, which runs from July 20 to 24 in Farnborough, Hampshire, brings together more than 1,600 exhibitors, aircraft manufacturers, airlines, investors, regulators, aerospace technology companies and government delegations from across the world to forge partnerships, announce major commercial deals and shape the future of global aviation.…

Over the past year, China’s Belt and Road Initiative has seen rapid development in Central Asia. This has been evidenced by the launch of several railway and road routes connecting China’s industrial and economic centres to logistics hubs in Uzbekistan, Turkmenistan and Tajikistan. China’s improved transport to the region reflects two interrelated trends: growing trade momentum and Central Asia’s strengthening position in continental logistics. Last year, China became the largest trading partner of all the Central Asian countries for the first time as trade jumped by 12 per cent to exceed US$100 billion. China’s exports to the region, dominated by…

In May this year, the administration of Prime Minister Takaichi Sanae rolled out its vision for an updated Free and Open Indo-Pacific, stressing regional autonomy and resilience in the face of intensifying US-China tensions and instability in the Middle East. A noted authority on international security assesses the strengths and limitations of FOIP 3.0. FOIP at Ten and Japan’s Diplomatic Push The Free and Open Indo-Pacific is the most successful regional foreign-policy concept to come out of Japan in the post–Cold War era. Proposed by the second administration of Prime Minister Abe Shinzō in 2016 and elaborated by Prime Minister Kishida Fumio in 2023,…

SEOUL, July 22 (Yonhap) -- South Korea's producer prices remained unchanged in June as lower petroleum prices were offset by higher computer and electronics prices, central bank data showed Wednesday. The producer price index (PPI), a key gauge of future consumer inflation, stayed flat last month from a month earlier, slowing from 1 percent and 2.7 percent on-month gains in May and April, respectively, according to the preliminary data from the Bank of Korea (BOK). The index had risen for the ninth consecutive month through May, mainly due to higher petroleum and raw material prices stemming from the lingering Middle East crisis. From a year earlier,…