Headlines

The United States has extended a license that protects Venezuela-owned refiner Citgo Petroleum ​from creditors through May 5, according to a posting on ‌Thursday on the Treasury Department's website, Reuters reported. The extension comes a day after Washington issued a general license broadly authorizing U.S. companies to do business with Citgo's ultimate parent, ​Caracas-headquartered Venezuelan state-run oil company PDVSA. The general license is seen ​as a key step to encourage investment and further ⁠oil output in Venezuela, and also reinforces U.S.

Argentina won an order blocking holders of a US$16.1-billion US judgment against it from seeking information on seizable assets until a federal appeals court in New York rules on the nation’s challenge to the award, Bloomberg reported. The U.S. Court of Appeals for the Second Circuit on Wednesday paused efforts by former YPF SA shareholders backed by litigation funder Burford Capital to obtain the communications of current and former Argentine officials or pursue evidence related to the location of gold bars the country’s central bank moved overseas.

A bench of Justices Manish Pitale and Shreeram Shirsat, in an order passed on Wednesday, said such strategies by loan defaulters frustrate the very objective of the IBC and paralyse the whole process of lawful steps taken by secured creditors, adding that the court cannot remain a mute spectator when misuse of legal provisions demonstrates failure of justice, the Economic Times of India reported.

The municipally-owned Belgian waste management and energy group Bionerga has confirmed the closure of its plastic recycling site Fromto in Houthalen, euwid-recycling.com reported. The group cited sustained losses and mounting pressure from low-cost primary plastics and imports. The operation had been "heavily loss-making for several years", Bionerga said. "We regret having to shut down operations, but unfortunately we see no alternative.

The European Central Bank left its key interest rates unchanged Thursday and warned that the Iran war would boost inflation in the short term through higher energy prices - but that the long-term impact on consumer prices and the economy was uncertain, the Associated Press reported. The bank's rate-setting committee left its benchmark deposit rate unchanged at 2%, where it has been since June 2025.

The Bank of England held its main interest rate at 3.75 per cent on Thursday as the sharp oil and gas price hikes following the start of the Iran war have stoked renewed concerns about inflation, BNNBloomberg reported. The decision was widely anticipated after the United States and Israel started bombing Iran less than three weeks ago. All nine members of the Monetary Policy Committee voted to keep borrowing costs on hold, the first unanimous decision for more than four years. Until the war erupted on Feb.

The Bank of Japan held interest rates steady on Thursday but maintained ​its bias for tighter monetary policy, warning that surging oil prices driven by the Middle East conflict could exacerbate inflationary pressures, Reuters reported. Governor Kazuo Ueda said the BOJ board was somewhat more ‌focused on upside risks to inflation than downside risks to growth from the conflict, keeping alive market expectations for a near-term rate hike. "Before the Middle East conflict, household and corporate activity had been firm.

The IMF said on ​Thursday it was closely monitoring the Iran war and the resulting disruptions to energy production, warning that prolonged increases in energy ‌prices could boost inflation and lower growth globally, Reuters reported. The conflict has disrupted seaborne oil and natural gas shipments, sending Brent crude oil prices over $100 a barrel. The global lender has not received formal requests for emergency financing but stood ready to help member countries, Julie Kozack, spokesperson for the International Monetary Fund, told reporters.

Swedish pro-audio microphone manufacturer Milab is back in business, having been brought back to life after filing for bankruptcy last August, MixOnline.com reported. The company was acquired in 2025, and now leading the brand are audio entrepreneurs David Stenmark (Epidemic Sound/IMRSV) and Andreas Liffgarden (chairman of Tracklib). “Reviving Milab is both a responsibility and a privilege,” said Stenmarck. “This is a brand deeply rooted in Swedish audio excellence, and also an important, largely untold part of the Swedish music wonder.