Business News Asia
Leading materials science firm, Dow, and global advanced recycling solutions provider, Mura Technology, have partnered to address the issue of global plastic waste and promote circular economy manufacturing. Mura plans to construct a new recycling facility in Boehlen, Germany, on…
European diesel imports from around the world are approaching a record high ahead of the Russian fuel import ban. The United Kingdom and the European Union (EU) imported more than 16 million barrels of marine diesel in the first ten…
Retail sales in the Eurozone fell sharply in October, Eurostat reported today. Retail sales fell 1.8% month-on-month after rising 0.8% in September. On a year-over-year basis, retail sales fell 2.7%. The decline was led by Germany and France, Europe’s largest…
Hungarian and Slovakian oil pipeline operators announced that oil deliveries via the Druzhba pipeline to parts of Eastern and Central Europe have been temporarily suspended. The Hungarian company MOL said that partners from Ukraine had informed the company that a…
The Association of European Automobile Manufacturers (ACEA) reported that the number of new registrations in Europe rose for the second month in a row in September. According to the report, the number of new cars registered in September increased by…
Copa-Cogeca, the European farmers’ association, said the energy price crisis could lead to shortages of fruit and vegetables as more and more companies have to close or reduce their production capacity due to rising electricity costs. The secretary general of…
According to S&P Global / CIPS, the construction PMI rose slightly in August to 49.2 from 48.9 the previous month. However, new orders fell to the lowest level since June 2020. Consumer demand is heading toward “stagnation” as rising costs…
With the euro falling near a 20-year low today, Russian energy giant Gazprom announced it would suspend gas supplies to Europe via the Nord Stream 1 pipeline for an indefinite period. This has raised fears that energy shortages in Europe…
Natural gas prices in Europe soared today (Aug. 23) amid fears that winter power shortages could have a major impact on the region’s economy. Gas futures prices rose 5.2% to 291 euros per megawatt hour after reaching a record high…
Europe is facing a new round of energy disruptions following reports of damage to oil pipelines from Kazakhstan via Russia. This situation will only increase concerns about Europe’s energy supply problem. The Caspian Pipeline Association (CPC), which manages about 1%…
