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The Organisation of Petroleum Exporting Countries (OPEC) on Sunday agreed to maintain its planned monthly oil output, as the European Union agreed to impose a price cap on Russian oil. OPEC disclosed this at its 34th OPEC and non-OPEC ministerial meeting, according to a statement released by the organisation on Sunday. The oil cartel noted that its decision was in adherence to the approach of being proactive and preemptive. The development came days after the European Union announced it had reached a consensus…

The National Payments Corporation of India (NPCI) may soon implement its proposed December 31 deadline to limit the…

Myanmar imposed zero tariffs on electric vehicles (EVs) imports effective from November 2, the state-run media cited the Ministry of Planning and Finance as saying. The move is aimed at encouraging the use of EVs in the country and developing the EVs industry and related businesses, the report said on Friday. According to the Ministry, the customs tariffs on Battery Electric Vehicles (BEVs) imported under Completely Built-Up, Completely Knocked Down and Semi-Knocked Down was to be reduced to zero until March 31, 2023,…

The White House is set to unveil rules that would further restrict access to advanced computing technology in China that could be used by its military, according to The New York Times. The new measures, which may be announced this week, reportedly aim to reduce Beijing's ability to produce advanced weapons and surveillance systems.  The new rules would build on restrictions that block companies from selling US-developed technologies to smartphone manufacturer Huawei, first introduced by the Trump administration in 2019.…

EU antitrust chief Margrethe Vestager has cracked down on Big Tech with hefty fines to ensure a level playing field in the 27-country European Union. The parties can appeal on matters of law to the EU Court of Justice, Europe's highest court. (AA Archive)…

Article content TORONTO — Many Canadian retailers have imposed limits on the amount of baby formula customers can buy amid a shortage following Abbott Laboratories’ February production suspension in the United States, an industry spokesperson said on Wednesday. Article content Canada has not been as hard hit by the shortage caused by the suspension at the Abbott facility, Retail Council of Canada spokesperson Michelle Wasylyshen told Reuters. The United States has been grappling with a widespread infant formula…