Russia halts Nord Stream 1 gas flows until sanctions lifted
Gazprom states gas flows through Nord Stream 1 will not resume until sanctions against Russia are removed. The Kremlin attributes the halt to sanctions affecting turbine repairs.
Herald section
Business
The latest business reporting from The Belfast Herald.
Rosatom to begin construction of two new reactors at Paks nuclear plant
Hungary's foreign minister confirms Rosatom will start building two new reactors at the Paks Nuclear Power Plant, expanding its capacity and financing the project largely through Russian investment.
Eurozone inflation hits record 8.9% in July
The European Union statistics office reported that inflation in the Eurozone reached a record 8.9% in July, driven by energy and food costs, with core inflation rising to 5.1%.
Inflation in the United Kingdom increases to 10.1%, the highest level since February 1982, due to increasing fuel and food prices
Inflation in the United Kingdom increases to 10.1%, the highest level since February 1982, due to increasing fuel and food prices.
Belize-flagged ship departs Chornomorsk for Turkey under U.N. grain deal
A Belize-flagged vessel carrying wheat left Chornomorsk port in Ukraine on 12 August 2022, marking the first export of Ukrainian grain under a U.N.-brokered agreement to restore Black Sea grain exports.
Domino's closes all Italian stores after franchisee files for bankruptcy
The closure follows ePizza SpA's bankruptcy filing, which cited pandemic-related financial damage and increased competition from local restaurants using delivery apps.
Russia's Transneft halts oil flows via Druzhba pipeline to Central Europe
Russian state pipeline operator Transneft reported that oil flows through the Druzhba pipeline to the Czech Republic, Slovakia and Hungary were suspended due to unpaid transit fees. The halt followed an inability to process payments through European banks under new sanctions.
Bank of England raises interest rate to 1.75% in largest single hike since 1995
The Bank of England increased its benchmark interest rate to 1.75% on 4 August 2022, marking the largest single rise since 1995 amid rising inflation and recession risks.