Kazakhstan's rising oil output boosts its role as global producer
Kazakhstan, Central Asia's top oil producer, is a key exporter to the European market. The country's oil fields supply 13% of the European Union's crude, representing nearly 70 million tonnes last year.
Now pumping nearly 2% of global output, Kazakhstan has continued ramping up production, with output rising to 2 million barrels per day this year – driven by expansion at the giant Tengiz oilfield.
In this episode of East-West Connect, we examine the challenges the country is overcoming to remain a reliable global oil producer – from transportation issues to OPEC+ output quotas – as it emerges as a key player in the global energy market.
The global economic outlook is likely to continue to be increasingly volatile in 2025, according to the Organisation for Economic Cooperation and Development (OECD).
This is mainly due to rising trade pressures, lagging consumer and business confidence, and tighter financial conditions. Increased policy uncertainty, particularly concerning tariffs imposed by the US, is also expected to have a significant impact on the global economy, while fuelling inflation.
The OECD expects worldwide gross domestic product (GDP) to slow to 2.9% in 2025, from 3.3% in 2024, assuming current tariff rates remain in place as of mid-May. This forecast is a drop from the OECD's previous expectations of 3.1%. For 2026, the OECD expects worldwide GDP growth to be 2.9%, down from a previous estimate of 3%.
Countries such as Italy, Norway, France, Mexico and Germany are likely to have the least economic growth in 2025, while Costa Rica, Denmark, Ireland, Poland and Israel are expected to have the strongest growth.
Regarding the OECD's new forecast, Russ Mould, investment director at AJ Bell said in an email note sent to Euronews: 'It's only a small revision – from 3.1% to 2.9% for 2025 – but it's still enough to cause investors some digestion as they consume their morning news. The downgrade weighed on the mining sector as the market fears it could mean reduced demand for commodities, and therefore a potential knock to the price of metals and minerals.'
'The 90-day pause on tariffs has just over a month before expiration, meaning the pressure is on countries to do deals with the Trump administration. Reports suggest that Trump wants best offers on trade negotiations by Wednesday, perhaps to avoid any last-minute rush or stalemate situations.'
In 2025, the OECD expects global output to be 2.6%, with the US seeing marginal growth of 1.1%.
The OECD expects inflation across the OECD countries to be 4.2% in 2025, up from its December expectations of 3.7%. Similarly, for 2026, it expects inflation to be 3.2%, which is a step up from an earlier estimate of 2.9%.
Turkey is expected to have the highest inflation in 2025 at 31.4%, with Columbia, Chile, Poland, Estonia and Hungary also likely to continue seeing high prices.
However, Switzerland, Finland, France, Sweden and Costa Rica are expected to see relatively lower inflation in 2025.
Inflation is expected to be 3.6% across the G20 countries in 2025, falling to 3.2% in 2026.
The OECD suggests that policymakers should attempt to reduce trade barriers in order to support economic growth and look for more collaborative solutions on global trade and political issues, instead of turning to tariffs.
Reforms focusing on enhancing supply chains, as well as diversifying both buyers and suppliers for companies, could go a long way in helping achieve this goal. Similarly, shared or common regulatory standards could ease regulatory challenges between countries.
Turning to monetary policy, the OECD advises that central banks should remain focused on disinflation, while easing interest rates cautiously in those countries where inflation is expected to decline.
The OECD also recommends focusing on creating a more stable and sustainable environment for business investments, especially by reducing policy uncertainty. This could be through policies boosting competition, removing entry barriers and helping entrepreneurship. The OECD also recommends making it easier to access finance.
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16 minutes ago
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Euronews
an hour ago
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Digital weight loss: How online Ozempic buyers bypass prescriptions
As Germany's new Chancellor Friedrich Merz meets US President Donald Trump for the first time at the White House on Thursday, he'll be aware of how his predecessors have tackled the transatlantic relationship. The stars don't augur well, however. During his first stint in office, Trump regularly made disparaging remarks about Germany and developed a non-relationship with Chancellor Angela Merkel characterised by mutual personal dislike. Trump's erratic trade policy, which has the EU and Germany specifically in its sights, as well as Trump's retreat from traditionally solid transatlantic positions on common defence and Russia, have challenged Merz before he even moved into the Chancellery. How the mutual relationship between Merz and Trump develops in the future is likely to depend crucially on how the Chancellor completes his first visit to the Oval Office - Ukrainian President Volodymyr Zelenskyy sends his regards! Merz's basic problem is that Trump has taken an axe to German-US relations and is not particularly interested in good terms with Berlin. This situation is a novelty for a German chancellor. Merz's predecessors since 1949 have experienced ups and downs in their relations with the respective US presidents, but the close friendship between the two countries has never been called into question. So how did they get along? Konrad Adenauer was 73 when he was elected the first Chancellor of the Federal Republic of Germany in 1949. Four years after the end of World War II, however, the country was not yet a sovereign state. Adenauer was only too aware of this. He sought a close and trusting relationship with the US and adheres very closely to instructions from Washington. In 1953, Adenauer travelled to the US for the first time - it was the first ever visit by a German head of government to Washington! His talks with US President Dwight Eisenhower (1953-61) were friendly. For Adenauer, the protection, aid and military presence of the United States were indispensable for the democratic development of Germany, as well as for peace and prosperity in Europe. Adenauer developed close personal relations with Eisenhower and especially his Secretary of State John Foster Dulles, which benefitted German-US relations as a whole. In contrast, Adenauer's relationship with John F Kennedy (1961-63) was not without problems. The two are far apart in terms of both age and politics. In 1963, his last year in office, Adenauer was already 87, and Kennedy, 41 years his junior, saw him as a man of the past. Kennedy felt that the chancellor's stance on the German question was too rigid and lacked flexibility in the face of changing conditions in Europe. Conversely, Adenauer harbours mistrust of US-Soviet negotiations. He believes that a rapprochement between the two superpowers could only take place at the expense of Germany and its political goal of reunification. After the discord between Adenauer and JFK, relations between Chancellor Ludwig Erhard and Kennedy's successor Lyndon B. Johnson (1963-69) became very friendly again. German foreign policy was by now characterised by the conflict between 'Atlanticists' and 'Gaullists', with the latter wanting a close alliance with France, which Erhard rejects in favour of nuclear protection by the US. Erhard and Johnson met sympathetically from the outset and came together five times during Erhard's short time in office. The first time was just one month after Johnson's inauguration, when the Texan invited the German to his ranch in Texas, a particular honour, especially for a foreigner. Willy Brandt was the first Social Democrat to become Federal Chancellor in 1974. Brandt sees himself as a self-confident partner of the USA. However, his 'Ostpolitik', which sought an understanding with East Germany (GDR), Poland and the Soviet Union, was viewed with great suspicion in Washington. US President Richard Nixon (1969-1974) distrusted Brandt, whom he considered to be a 'German nationalist'. Brandt, on the other hand, tried to maintain a good relationship with Nixon and avoided open criticism of the war in Vietnam. Personally, the two had practically nothing to say to each other. Alluding to Brandt's illegitimate origins, Nixon occasionally calls him 'the bastard' behind closed doors. In the mid-1970s, German-US relations were better than ever before. US President Gerald Ford (1974-1977) and German Chancellor Helmut Schmidt knew and appreciated each other and were close friends in their private lives. There was a great deal of agreement on key issues, as well as a trusting openness in discussing differences. However, Ford lost the 1976 election to his challenger Jimmy Carter (1977-1981). Carter was inexperienced in foreign policy and relied on a team of advisors disconnected from the think tanks of the East Coast, where Schmidt had been well-connected for decades and enjoyed a high reputation. Schmidt, who had a tendency to lecture people, saw Carter as a novice who had only a limited understanding of the world's complex problems. This does not go unnoticed by Carter - relations quickly hit rock bottom. When it came to the deployment of the neutron bomb, there were serious disagreements. Schmidt, amid great domestic political difficulties, advocated the weapons system desired by Washington. When Carter stopped its production at the last minute for domestic political reasons, Schmidt felt exposed and abandoned. Unlike Schmidt, Helmut Kohl had no personal connection to the United States and did not speak English. Nevertheless, he showed transatlantic solidarity from the outset and endeavours to establish a personal relationship with every US president he deals with. His relationship with Ronald Reagan (1981-1989) even had friendly traits that outlasted even the embarrassing Bitburg controversy. In 1985, Kohl invited Reagan to visit the Bitburg military cemetery in the Eifel region during his stay in Germany - as a sign of reconciliation between former enemies. When it was discovered that not only Wehrmacht soldiers but also members of the Waffen SS were buried at the cemetery, a storm of indignation broke out in Washington. The White House wanted to cancel the visit, but Reagan remained stubborn and thus supported the German chancellor. Kohl also developed a friendly and close relationship with Reagan's successor George HW Bush (1989-93), which facilitated communication between the two governments during the collapse of the GDR and the German reunification process. In the 1990s, German-US relations were determined not least by the question of how much responsibility Germany should assume in the world. US President Bill Clinton (1993-2001), with whom Kohl had an even better relationship than with Reagan, reacted positively to the German decision to send Bundeswehr soldiers to the Balkans as part of an international peacekeeping force. In his memoirs, Clinton spoke almost affectionately and with great respect about his appreciation for Kohl. He was 'not only physically' the most impressive political leader in Europe for decades, according to Clinton. The relationship between German Chancellor Gerhard Schröder and US President George W. Bush developed quite differently. The atmosphere between Bonn (later Berlin) and Washington was probably never as icy as in those years. The reason: the red-green government's no to the war in Iraq. Mistrust, personal animus, blatant dislike - the rift between the two leaders was total. This became apparent again years later, when both were no longer in office and both accused each other of lying on the occasion of the publication of Bush's memoirs in 2010. Under Chancellor Angela Merkel, German-American relations relaxed again. Unlike with Schröder, Bush got on well with Merkel and called her 'a friend'. In contrast, the chancellor's relationship with Barack Obama was slow to warm. In 2008, she refused to allow the then-presidential candidate to give a speech in front of the Brandenburg Gate in Berlin - Obama had to make do with the Victory Column. But after Obama's election, the relationship was increasingly characterised by mutual trust. Both cultivated a sober and pragmatic political style and a liberal view of the world, which facilitated cooperation. In a way, German Chancellor Olaf Scholz was lucky: US President Joe Biden was probably the last great old-school US Atlanticist. This made cooperation easier. 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It's a trend health experts now warn could spiral into a global crisis. More than 1 billion people worldwide live with obesity, and over 830 million are managing diabetes. In Europe, over half the adult population is overweight, and 17% are clinically obese. The World Obesity Federation projects that by 2050, 60% of adults globally will fall into this category. GLP-1 drugs like Ozempic, Wegovy, Mounjaro and Saxenda were designed to address these numbers through medical treatment. They regulate insulin levels, slow digestion and reduce appetite, helping some users shed up to 15% of their body weight. For people with obesity and related health conditions, these drugs are a breakthrough. But for others—especially the young and image-conscious—they've become a shortcut. A way to stay lean without diet or exercise. And in today's fast-paced, hyper-filtered world, many are willing to skip the medical justification entirely. 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Users even post photos celebrating their arrivals, turning health risks into social memes. This growing off-label trend comes with serious consequences. GLP-1 medications aren't without risks—especially when misused or taken without medical supervision. Common side effects include nausea, vomiting, diarrhoea, constipation, loss of appetite and dehydration. More serious complications may include swelling of the pancreas, gallbladder disease which sometimes requires surgical removal, loss of muscle tissue, kidney injuries and hypoglycaemia, especially when combined with other medications. Thyroid tumours have been noted in some animal studies of the drugs. Then there's the risk of fakes. In 2023, authorities in Austria and the UK reported hospitalisations due to counterfeit Ozempic pens, some of which were found to contain insulin instead of semaglutide. The World Health Organization (WHO) has since issued a global alert over falsified versions of semaglutide found in the UK, US and Brazil. 'These counterfeits can be life-threatening,' warned WHO's Dr Yukiko Nakatani. 'We urge people to stop using suspicious products and report them immediately.' Despite growing awareness, enforcement lags behind. Messaging platforms where these drug sales take place continue to operate with minimal oversight. Closed groups named after "fitness" or "health" are often digital storefronts for illicit sales. Algorithms don't differentiate between helpful tips and harmful products—until someone gets hurt. This loophole highlights a growing regulatory blind spot. Health authorities may police pharmacies and clinics, but the world's most popular communication platforms remain largely unregulated terrain when it comes to drug trafficking. A European Commission spokesperson noted that under the EU's Digital Services Act online platforms have an obligation to protect consumers. The act requires users to be able to quickly report illegal content and products, obliges platforms to remove illicit goods and online marketplaces have to trace their traders. "The DSA obliges platforms to address risks of illegal content and goods being disseminated on their sites," and the Commission is monitoring compliance and won't hesitate to open further proceedings, according to the spokesperson. The rise of weight-loss drugs has ushered in a new dilemma for both medicine and society. These are powerful tools with potential to transform lives—but only when used safely, and for the right reasons. As regulators struggle to keep up with demand, tech companies and messaging platforms must also step up. Health isn't just a personal issue—it's a systemic one. And without stronger protections in place, the rush for fast fixes could leave a trail of long-term damage. US President Donald Trump said that his Russian counterpart Vladimir Putin told him "very strongly" in a phone call on Wednesday that he will respond to Ukraine's weekend drone attack on Russian airfields. "We discussed the attack on Russia's docked airplanes, by Ukraine, and also various other attacks that have been taking place by both sides," Trump wrote in a post on Truth Social. "It was a good conversation, but not a conversation that will lead to immediate Peace." The call reportedly lasted for an hour and 15 minutes and was Trump's first known contact with Putin since 19 May. In a briefing with government ministers earlier on Wednesday, Putin made no mention of Ukraine's audacious operation deep inside Russia on Sunday, instead referring only to an operation carried out by Ukraine's Security Service (SBU) on Tuesday which saw the Kerch Bridge damaged. The bridge is a key piece of Russian infrastructure illegally built by Moscow after its unilateral annexation of the Ukrainian peninsula in 2014. Putin referred to that attack as "certainly a terrorist act." However, Ukraine's SBU said the first explosion was timed to take place just before 5am when there were no civilians on or near the bridge. The Russian leader also questioned the value of faltering peace talks with Ukraine, accusing Kyiv of not being interested in peace. "What is there to talk about? How can we negotiate with those who rely on terror?" he said. The second round of face-to-face talks between Ukraine and Russia took place in Istanbul on Monday, with no major breakthrough made towards a lasting ceasefire. The two sides however agreed to another prisoner of war exchange, with Ukraine's Defence Minister Rustem Umerov saying seriously ill and young soldiers would be swapped. During the talks in Istanbul, Ukraine also gave Moscow officials a list of hundreds of Ukrainian children forcefully deported by Russia. "We are talking about hundreds of children whom Russia has illegally deported, forcibly transferred or is holding in the temporarily occupied territories. We are waiting for a response. The ball is in Russia's court," the head of Ukraine's presidential office Andriy Yermak said on Telegram. Ukraine's President Volodymyr Zelenskyy said it took Kyiv "one year, six months, and nine days from the start of planning to effective execution" of the operation. Kyiv managed to smuggle FPV drones deep inside Russia and hide them inside trucks in mobile log cabins. The cabins' roofs were then opened remotely and the drones proceeded to launch their attack on Russian military bombers. Social media footage widely shared by Russian media appears to show the drones rising from inside containers, while the panels lie discarded on the road. On Wednesday, Zelenskyy said Kyiv would not have launched its drone strike on Russian strategic bombers if Moscow had accepted Kyiv's calls for a ceasefire. Zelenskyy said Ukraine has repeatedly urged Russia to accept the US-backed 30-day ceasefire proposal, which could be the first step to putting an end to Russia's all-out war against Ukraine. However during the second round of talks on Monday, Moscow rejected the proposal once again. "If there had been a ceasefire, would the operation have taken place? No," Zelenskyy explained, adding that roughly half of the planes will be impossible to repair, while others will require significant time to be put back into service. On Wednesday, Ukraine's security service (SBU) released new drone footage of Operation "Spiderweb," showing how exactly Kyiv struck 41 Russian heavy military bombers on Sunday. The footage shows Ukraine's first-person-view drones striking four Russian airfields: Dyagilevo in the Riazan region, Ivanovo in the Ivanovo region, Belaya air base in the Irkutsk region, located in south-eastern Siberia over 4,000km east of the frontline, and Olenya air base in Russia's Murmansk region, some 2,000km away from Ukraine's border. Kyiv said these were the airfields where Russian strategic aviation "had been based". The damaged aircraft include A-50, Tu-95, Tu-22, Tu-160, as well as An-12 and Il-78. Moscow uses these heavy bombers for daily attacks on Ukrainian cities. The SBU also revealed that it used a modern UAV control technology during this operation. It combined autonomous artificial intelligence algorithms and manual operator interventions. Ukraine's security service says some of the UAVs lost signal and would switch to an artificial intelligence-assisted mission following a pre-planned route. The warhead then automatically detonated as it approached and made contact with a specific target. Earlier, Ukraine's President Volodymyr Zelenskyy said that 117 drones had been used in Operation Spiderweb, each with its own pilot. The General Staff of Ukraine's Armed Forces confirmed on Tuesday that Russia lost 41 military aircraft.
Fashion Network
an hour ago
- Fashion Network
BEUC files complaint against Shein for alleged 'dark patterns' on app
Pan-European consumer organization BEUC filed a complaint with the European Commission Thursday against online fast-fashion retailer Shein for using "dark patterns," tactics designed to make people buy more on its app and website. Pop-ups urging customers not to leave the app or risk losing promotions, countdown timers that create time pressure to complete a purchase, and the infinite scroll on its app are among the methods Shein uses that could be considered "aggressive commercial practices," BEUC said in a report also published Thursday. BEUC also detailed Shein's use of frequent notifications, with one phone receiving 12 notifications from the app in a single day. "For fast fashion, you need to have volume, you need to have mass consumption, and these dark patterns are designed to stimulate mass consumption," Agustin Reyna, director general of BEUC, said in an interview. "For us, to be satisfactory, they need to get rid of these dark patterns, but the question is whether they will have enough incentive to do so, knowing the potential impact it can have on the volume of purchases." In a statement, Shein said: "We are already working constructively with national consumer authorities and the European Commission to demonstrate our commitment to complying with EU laws and regulations." It added that BEUC had not accepted its request for a meeting. Shein and rival online discount platform Temu have surged in popularity in Europe, partly helped by apps that encourage shoppers to engage with games and stand to win discounts and free products. BEUC has also previously targeted Temu in a complaint. Shein's use of gamification, drawing shoppers to use the app regularly, has helped drive its success. In the "Puppy Keep" game on the app, users feed a virtual dog and collect points to win free items. They can gain more points by scrolling through the app and by ordering items but must log into the game every day or risk losing cumulative rewards. BEUC noted that dark patterns are widely used by mass-market clothing retailers and called on the consumer protection network to include other retailers in its investigation. It said 25 of its member organizations in 21 countries, including France, Germany and Spain, joined in the grievance filed with the Commission and with the European consumer protection network. Late last month, the European Commission notified Shein of practices breaching EU consumer law and warned it would face fines if it failed to address the concerns. The company is also under scrutiny from EU tech regulators on its compliance with EU online content rules.
