The extreme heat and outages at nuclear power plants promise huge losses for South Korea's economy. To avoid overloads in the energy system, the country's authorities are urging citizens and the industrial sector to reduce electricity consumption and stop using air conditioners, Bloomberg wrote. The Korean meteorological administration warned that the air will get as hot as 38 degrees Celsius in...

The Chinese authorities have abolished the "one family, two children" policy and now families are allowed to have three children. This is stated in the decision of the State Council of the People's Republic of China, quoted by Xinhua. The decision will help address the demographic challenges posed by an ageing population. According to statements by the Communist Party Central Committee, it will...

China has been accused of using unfair methods on its way to "world domination". According to CNBC, this was stated by one of its members, Iain Duncan Smith, former leader of the Conservative Party, during his speech in the British Parliament. In his opinion, Beijing is going to achieve world domination in the sphere of semiconductors production and uses dishonest methods for this purpose. He...

European companies, which play a large role in pollution, blamed the EU of staging risks to innovation and investment after the union revealed an ambitious climate protection plan, the FT said. Manufacturers of vehicle, heavy and aviation industry opposed the proposals, which also list a ban on selling newly made cars with diesel and petrol engines since 2035, taxes on marine and aviation fuels...

The European Central Bank has launched a pilot project to create the digital euro. The European Central Bank (ECB) has decided to launch a pilot project to create the digital euro. This is reported on the ECB website. This does not prejudge any future decision on the possible launch of the digital euro, which will be taken later, the release notes. A study of the digital euro will be conducted...

The biggest anti-government protests in nearly 30 years took place in Cuba. Cubans are frustrated by economic conditions, the pace of vaccination against COVID-19 and the authorities' neglect of their needs. Thousands of Cubans took to the streets in cities from Havana to Santiago on Sunday. They protested against the authorities' economic policy, the neglect of people and the pace of vaccination...

Taiwan-based semiconductor companies Foxconn and TSMC have signed a contract to buy 10 million doses of the Pfizer/BioNTech coronavirus vaccine, Reuters reports, citing statements from the two companies. The deal is worth $350m. Shanghai Fosun Pharmaceutical, which represents BioNTech in China, said the parties had signed the agreement. The deal was announced a month after Taiwan authorities...

Japan will impose a state of emergency in connection with the coronavirus in Tokyo from 12 July. In the coming days, the organisers of the Olympics will have to agree on whether at least part of the spectators will be able to watch the competition live. Japan is getting ready to declare a state of emergency because of the coronavirus in Tokyo from July 12 to August 22, said Japanese Economy...

Growing demand for natural gas could prevent the world from reaching zero emissions by 2050 and avoiding global catastrophe. According to Reuters, a report by the International Energy Agency (IEA) says the world will exceed pre-coronavirus consumption levels by 2024. Gas demand is expected to grow by 3.6 per cent in 2021 as the world economy recovers from the effects of coronavirus restrictions....