Energy bills to soar to highest level in three years as Middle East war pushes up costs

ENERGY bills are set to soar to the highest level in three years, in the latest blow to struggling households. The energy price cap, which is the maximum providers can charge per unit of energy, is expected to increase by 4% in October. That's according to analysts at well-respected energy research firm Cornwall Insigh

Rising energy costs push price growth further above BoE target

The rise in energy bills has driven a sharp increase in inflation, moving further away from the Bank of England’s target

The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation stats are out

The Office for National Statistics said Consumer Prices Index inflation rose to 2.9% in July, up from a 15-month low of 2.6% in June.

The Office for National Statistics said Consumer Prices Index inflation rose to 2.9% in July, up from a 15-month low of 2.6% in June.

The migration of special mention (SM) loans to non-performing loans (NPLs) rose in the second quarter of this year, driven by persistent conflicts in the Middle East.

Yields on the 30-year U.S. Treasury and government bonds across the world rose to multiyear highs as investors fret about inflation, deficits and A.I. spending.

High bond yields put upward pressure on mortgage and credit card rates.

Container shipping costs from South Korea to the Middle East continued rising in July, the customs agency said Tuesday, amid protracted geopolitical tensions in the region. The average shipping charge for a 40-foot container from South Korea to the Middle East rose 14.5 percent from a month earlier to 8.78 million won

Egyptian Minister of Industry Khaled Hashem participated in laying the foundation stone for the Sungrow Power Suez plant, which will specialize in advanced battery energy storage systems (BESS) and is set to become the first dedicated energy storage systems manufacturing facility in the Middle East and Africa. The plan

The wars in the Gulf and Ukraine have essentially shut off some of the world’s key passageways for global commodities.

By Nidal al-Mughrabi CAIRO, Aug 16 (Reuters) - Donald Trump's envoys meet with Egyptian, Qatari and Turkish mediators in Cairo on Sunday, a diplomatic source said, in a bid to advance the U.S. president's Gaza peace plan, even as Israel pressed on with airstrikes in the enclave. Hamas officials were present at some of

Trump's envoys in Middle East to push for Gaza peace plan  Reuters

CAIRO, Aug 16 - Donald Trump's envoys meet with Egyptian, Qatari and Turkish mediators in Cairo on Sunday, a diplomatic source said, in a bid to advance the U.S. president's Gaza peace plan, even as Israel pressed on with airstrikes in the enclave.

Rising energy prices are poised to send UK inflation rearing back up, as economists warn that the summer boost to the economy could be fleeting. The rate of Consumer Prices Index (CPI) inflation is tipped to rise to 2.9 per cent in July, climbing from June’s 15-month low of 2.6 per cent, when the Office…