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Added on the 27/10/2022 16:22:50 - Copyright : AFPTV - First images
The EU is shelling out 40 billion euros as part of newly announced measures to shield European consumers from soaring energy prices. "We will develop a complementary new index, to reflect better the energy price situation." says Ursula von der Leyen during a European Council meeting in Brussels.
French Prime Minister Jean Castex on Thursday said a block on household gas prices would be extended until end-2022 and that low-income households would receive an 'inflation premium' of 100 euros a month to help mitigate the impact of rising energy prices.
French Finance Minister Bruno Le Maire has admitted that the government expects GDP to contract 1 percent this year because of the coronavirus pandemic, as he announced aid measures worth €45 billion to help businesses weather the crisis. All sectors of the global economy have been hit but the travel, tourism and airline sectors are bearing the brunt, with carriers now bracing for bankruptcies.
Energy giant BP has reported record annual profits. The news comes as the company is scaling back on its goals to reduce the amount of oil and gas it produces by 2030 as part of attempts to reduce carbon emissions. Camille Knight reports.
French President Emmanuel Macron announces that France will give 360 million euros to finance projects helping the reconstruction of Pakistan following last year's devastating floods. Speaking at a UN conference in Geneva, Macron says the funding will go towards not just "resilient reconstruction", but also "climate adaptation."
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