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Oil prices drop as demand worries prevail

New York, U.S. | Xinhua | Oil prices fell on Friday as traders worried about a deteriorating demand outlook. The West Texas Intermediate (WTI) for November delivery decreased 1.74 U.S. dollars, or 2.1 percent, to settle at 79.49 dollars a barrel on the New York Mercantile Exchange. Brent crude for November …

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Toyota’s year-on-year output rises in August as chip crunch eases

Tokyo, Japan | Xinhua | Toyota Motor Corp. on Thursday said its year-on-year production rose for the first time in five months in August as the negative effects of a global semiconductor crunch eased. The Aichi Prefecture-based automaker also said its worldwide production increased from a year earlier by 44.3 percent …

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FAO chief warns conflicts, climate likely to fuel more food crises

Bali, Indonesia | Xinhua | The head of the United Nations Food and Agriculture Organization (FAO) warned Wednesday that conflicts and climate-related impacts will remain as major drivers behind food crises, and called for resilience and more efforts for peace. Soaring global food prices sparked in part by the conflict between …

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Russia denies involvement in Nord Stream gas leaks

Moscow, Russia | Xinhua | Kremlin spokesman Dmitry Peskov on Wednesday called it “stupid and absurd” to allege that Russia was involved in leaks in the Nord Stream 1 and 2 gas pipelines. “Is this in our interests? No, we will lose gas supply routes to Europe. Is it in Europe’s …

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