In Europe the key Nord Stream One pipeline, which provides about ten percent of the continent's gas, is due to reopen on Thursday after maintenance. President Putin now says it's not clear what condition its turbine will be in after repairs in Canada. Leon Izbicki, a European natural gas analyst for Energy Aspect, explains the situation. We hear from Jonathan Grassi in Italy about what this means for his business. Sri Lanka's new president, Ranil Wickremesinghe, has called for unity in the face of economic turmoil and political division, after comfortably beating his nearest rival in a parliamentary vote. Rohan Samarajiva is the founding Chair of the LIRNEasia policy and regulation think tank, and joins us from Colombo. Uganda's President, Yoweri Museveni, has defended his government's decision not to give subsidies or reduce taxes - saying the money should be used to solve other problems the country is facing. BBC correspondent, Patricia Oyella, explains the cost of living crisis from Kampala. The Swedish golfer Henrik Stenson has joined the LIV Golf series after being removed as Europe's Ryder Cup captain. He becomes the latest professional to join the breakaway tour, which is financed by the Public Investment Fund, the sovereign wealth fund of Saudi Arabia. US based golf journalist Alex Miceli explains the controversy.
Crisis-hit Sri Lanka has elected its next president: the former prime minister, Ranil Wickremesinghe. He's already proving unpopular with some, leading to fresh protests in the capital, Colombo. Some business owners, however, are optimistic that the new leader can begin to guide the country of out its economic hardship. Shiromal Coomay runs a tourism company. She is eager to see the holiday industry restart in Sri Lanka. Meanwhile, the IMF has warned other countries could face a similar economic fate if debt can't be brought under control. We speak to the head of Ukraine's sea port authority, Dmitro Barinov, about efforts to end the Russian blockade of grain shipments. Sam Fenwick is also joined by energy markets expert Dr Aura Sabadus to discuss the ongoing concerns over gas supplies in Europe.
Extreme heat is hurting the economy and workplace productivity. Rahul Tandon is joined by Rachel Kyte, dean of The Fletcher School at Tufts University in Boston, Massachusetts and she was an advisor to the UK Cop26 delegation. In Pakistan, Prime Minister Shabbaz Sharif came to power in April . But the man who used to run the country, Imran Khan, has launched a national protest calling for fresh elections which could political instability lead to economic instability . Analyst and assistant professor of economics at Habib University, Aqdas Afzal, explains. A judge in the US state of Delaware has ruled that the dispute between the tech billionaire Elon Musk and the social media company Twitter, should go to trial in October. Molly Roberts, editorial writer at the Washington Post, tells us more. (Picture: A delivery man works in Barcelona on July 19, 2022. - Spain, which has already seen its hottest May since the beginning of this century, remained on July 19 in the grip of an exceptio...
As a searing heatwave continues to grip Europe, pressure on health services and transport infrastructure is increasing. The UK has reached a record high temperature of 40.2C (104F). Wildfires are burning in Spain and south-west France, near the famous wine-producing region of Bordeaux. We find out how extreme weather events are affecting the industry and ask what vineyards can do to cope. Elsewhere, Russian president Vladimir Putin meets his Iranian and Turkish counterparts in Tehran. We round up the latest markets and business stories, including news that Apple is to slow down hiring workers.
In Europe, much of the continent is in the grip of a heatwave; forest fires are raging in Spain, Portugal and France. China has also been struggling with sweltering summer heat. Our correspondents Jessica Parker and Guy Hedgecoe update us on the situation in south west France and Spain. Leah Stokes, an Associate professor of political science at the University of California Santa Barbara, explains the impact of heat on the global economy. White House economic adviser, Jared Bernstein, said he expects to see average gasoline prices falling below $4 a gallon in some places around the country in the coming weeks. Susan Schmidt, head of US equity at Exchange Capital Resources in Chicago, tells us more. Sri Lanka's acting president has said the country's negotiations with the IMF over an emergency bailout are nearing conclusion. There has been no comment from the IMF, but there have been growing calls from Sri Lankan politicians for the organisation to heed the scale of the crisis. Felix...
Businesses across Europe are putting special measures in place to cope with high temperatures. France is dealing with wildfires, and scientists have said much of the continent faces a drought. In the UK, farmers like Paul Tomkins are finding ways to keep animals cool. Sri Lanka is said to be in the 'closing stages' of talks over a bailout deal from the International Monetary Fund. Rachel Winter from investment firm Killick & Co has the latest market data, from Russia to Saudi Arabia. We're also joined by journalist Justin Spike, who's in Budapest as business owners continue to protest over tax reforms. Some say it will increase their bills by more than threefold.
The US president has met with the Saudi crown prince, Mohammed bin Salman, in an effort to fix relations between the two countries - with a particular focus on fuel supply concerns. It has failed to impress critics who disapprove of the country's human rights record. Middle East analyst Sami Hamdi provides a Saudi Arabian perspective on the visit, while Chris Lowe of FHN Financial looks at whether it will have any effect on oil prices. G20 countries have received a warning from the world's leading economists about an impending food supply catastrophe. We're joined by Sophia Murphy from the Institute for Agriculture and Trade Policy. At the end of another chaotic week at London's busiest airport, aviation recruitment specialist Kully Sandhu says the problems show no signs of easing. World Business Report is also joined by Kai Ryssal from our partner programme Marketplace, with a report on US shipping firm Golding Barge Lines.
Fresh figures from China show the world's second biggest economy took a big hit as a result of strict coronavirus lockdowns. Shirley Yu, a senior practitioner fellow at Harvard Kennedy School, explains. US President Joe Biden is due to land in Saudi Arabia today. The White House described Saudi Arabia's decision to open it's airspace to Israeli planes as an important step towards a more stable Middle East. The BBC's Middle East business correspondent Sameer Hashmi has the latest update. As harvest time looms, countries that rely on importing grain are hoping for crop prices to fall. But drought and heatwaves mean it's not looking good. Arnaud Petit is the executive director of the International Grain Council; he says that crop-producing countries have until October to export grain in time for new crops. Ghana’s annual inflation rate climbed to 29.8% last month, the highest since late 2003. The BBC’s West Africa business journalist, Nkechi Ogbonna explains what representatives from...
Italy's prime minister, Mario Draghi, has offered to resign after losing the support of populists. The country's markets have suffered at a crucial time for growth and recovery. So what effect will political instability have on the economy? Silvia Borrelli, a Financial Times journalist based in Milan, gives the latest, while manufacturing business owner Jonathan Grassi explains how the economy is coping where he's based. Throughout the programme we're joined by Cary Leahey, an economist at New York's Columbia University. Cary reflects on the latest from Sri Lanka, as President Gotabaya Rajapaska formally resigns. In Chile, soaring inflation has prompted the central bank to raise interest rates to an unprecedented 9.75%. Felipe Morande, a former minister, says it's partly down to huge fiscal stimulus measures. Elsewhere, American football is big business in Africa. Could the sport's inclusion at the Olympics bring players a share of the fortune? Alaezi Akpuru owns a flag football tea...
Sri Lanka is experiencing its worst economic crisis since its independence. Many businesses are feeling the impact, including one most crucial to the country's economy: the tea industry. The chairman of Sri Lanka's Tea Board, Niraj De Mel, tells us what it’s like to do business in Sri Lanka now. Italy's government has survived a crucial vote on an aid package for families and businesses worth 23 billion euros. Independent Italian MP, Lorenzo Fioramonti, gives his analysis of the situation. Weightlifting won´t feature in the Los Angeles Olympics in 2028. Ashish Sharma has been speaking to Florian Sperl, president of the German Weightlifting Federation, about what the financial implications are for the sport if it loses the funding it gets for being on the Olympic agenda. Neybert Rugadya is a business journalist in Kampala. He explains how the rising cost of fuel is causing problems across the economy. The BBC’s Patience Atuhaire travelled to a small island in Lake Victoria in Ugan...