Economy

Middle East crisis  Oil market
Oil climbs towards the $100 mark again

Oil prices continue to rise after this weekend's new attacks between Iran and the US. At 06:45, Brent crude rose 1.6 percent to $97.30 per barrel, while WTI crude was up 1.5 percent to $92.50.

After last week's oil rush, the market has now priced in a large part of the risk, believes Karobaar Capital's investment manager Haris Khurshid.

- But not a real worst-case scenario, he tells Bloomberg.

If shipping conditions deteriorate further or disruptions in oil supplies become prolonged, $100 per barrel will become more justified, the investment manager adds.

Russian invasion The world's response
Latvia to become gatekeeper for Russian grain

Latvia plans to impose a 300 percent tariff on all imports of Russian and Belarusian grain. Prime Minister Andris Kullbergs said this on Monday, according to Reuters.

The Baltic state has become a kind of transit country for Russian grain exports after Ukrainian attacks hit shipping routes through the Black Sea and the Sea of ​​Azov.

Neighboring Lithuania has introduced origin checks on all grain from Russia and Belarus to see if it is stolen from Ukraine.

The change of power in Hungary
A tenth of Hungary's GDP is believed to have been embezzled - now they must be found

A new authority has been created in Hungary to locate and return money that is said to have been embezzled during former Prime Minister Viktor Orbán's time in power, reports TT.

The new government led by Prime Minister Peter Magyar estimates that between eight and ten percent of the country's GDP has been lost to corruption in recent years. 

The future of the automotive sector
One in ten employees will have to leave as Jaguar cuts

British Jaguar Land Rover is cutting around 4,000 jobs, equivalent to 10 percent of its workforce, CEO PB Balaji confirmed to Bloomberg. The measures will be implemented over two years and will save 1.7 billion pounds, equivalent to 22 billion kronor.

The reasons for the savings package are said to include US tariffs, tough Chinese competition and the consequences of a cyber attack that closed the car manufacturer's factories for several weeks.

Previously, European car giants such as Volkswagen, BMW and Renault have also announced heavy cuts.