News in Brief
Dutch to shut Europe’s biggest gas field
AFP – The Netherlands said that it would end production at Europe’s largest gas field on October 1 after years of earthquakes, despite global energy worries sparked by Russia- Ukraine war.
Wells at the massive Groningen field in the northern Netherlands will remain open for one more year in case of a cold winter but then be shut down forever, the government said.
‘World economy at critical juncture in inflation fight’
REUTERS – The world’s central bank umbrella body, the Bank for International Settlements (BIS), called on Sunday for more interest rate hikes, warning the world economy was now at a crucial point as countries struggle to rein in inflation.
Despite the relentless rise in rates over the last 18 months, inflation in many top economies remains stubbornly high, while the jump in borrowing costs triggered the most serious banking collapses since the financial crisis 15 years ago.
Amazon to raise investment in India to $26b
CNBC – Amazon.com Inc said it will take its investments in India to $26 billion by 2030, adding $6.5 billion in new planned investments in an announcement made after CEO Andy Jassy met Prime Minister Narendra Modi in the United States.
Though Jassy gave no breakdown, the announcement follows Amazon’s cloud computing unit Amazon Web Services (AWS) saying last month it will invest 1.06 trillion rupees ($12.9 billion) in the country by the end of 2030.