New Zealand's free trade agreement with India has officially taken effect, Trade and Investment Minister Todd McClay said. The deal makes 57 percent of New Zealand's exports to India tariff-free, including sheep meat, wool, coal and forestry products.

Oyster growers along South Australia's coast report recovery from last year's harmful algal bloom, though the pace varies widely between regions. Farmers describe reduced stock levels and a rise in barnacle growth as lingering challenges heading into the busy summer season.

US Secretary of State Marco Rubio has arrived in Samarkand, Uzbekistan, to meet the foreign ministers of five Central Asian countries under the C5+1 format. Trade, investment, critical minerals and security are expected to top the agenda, with more than 200 American business executives accompanying the visit. The trip underscores Washington's push for closer economic and strategic ties with the region.

Brent crude held near $109 a barrel after Ukraine's drone strikes set fire to an oil terminal and depot in St. Petersburg, Russia. A separate rise in tanker attacks near the Strait of Hormuz added to global supply concerns.

Premium paid over French counterparts has risen to almost £30 a megawatt hour, analysis by lobby group finds

British steelmakers have been pushed further behind European rivals on electricity costs after the US-Israeli war on Iran caused a surge in global gas prices.

The premium paid by the British industry over its French counterpart has risen to almost £30 a megawatt hour (MWh), its highest level in three years, according to analysis by the lobby group UK Steel.

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© Photograph: Ian Forsyth/Getty Images

© Photograph: Ian Forsyth/Getty Images

© Photograph: Ian Forsyth/Getty Images

Premium paid over French counterparts has risen to almost £30 a megawatt hour, analysis by lobby group finds

British steelmakers have been pushed further behind European rivals on electricity costs after the US-Israeli war on Iran caused a surge in global gas prices.

The premium paid by the British industry over its French counterpart has risen to almost £30 a megawatt hour (MWh), its highest level in three years, according to analysis by the lobby group UK Steel.

Continue reading...

© Photograph: Ian Forsyth/Getty Images

© Photograph: Ian Forsyth/Getty Images

© Photograph: Ian Forsyth/Getty Images