Lebanon and Israel were Thursday set to sign a maritime border agreement that paves the way for lucrative offshore gas extraction by the neighbors which remain technically at war.

The U.S.-brokered deal, hailed by President Joe Biden as a "historic breakthrough", comes as Western powers clamor to open up new gas production and reduce vulnerability to supply cuts from Russia. 

U.K. Treasury chief Jeremy Hunt on Wednesday delayed his much-anticipated economic statement until Nov. 17, giving new Prime Minister Rishi Sunak a chance to weigh in on policies meant to stabilize the country's finances after his predecessor's tax-cutting plans triggered market upheaval.

The statement will now include a full budget and analysis of its impact on government debt and borrowing by the independent Office of Budget Responsibility. It was originally set to be announced on Halloween.

The United Nations has procured tens of millions of dollars in contracts with companies linked to Syrian government-backed individuals sanctioned for human rights abuses, according to a report by two non-governmental groups.

Syria's uprising turned civil war that started in 2011 has killed hundreds of thousands and displaced half the country's pre-war population of 23 million. More than 80% of Syrians now live in poverty, leaving much of the population dependent on humanitarian assistance.

Natural gas and electricity prices in Europe have plunged from summer peaks thanks to mild weather and a monthslong scramble to fill gas storage ahead of winter and replace Russian supplies during the war in Ukraine. It's a welcome respite after Russia slashed natural gas flows, triggering an energy crisis that has fueled record inflation and a looming recession.

Yet experts warn it's too soon to exhale, even as European governments roll out relief packages for people struggling with high utility bills and work on longer-term ways to contain volatile gas and electricity prices that have shrunk household budgets and forced some businesses to shut down.

The leader of the coalition of gas-exporting countries said Tuesday the group expects demand for the fuel to far outstrip supply until 2025 amid a global energy crisis sparked by the war in Ukraine.

Secretary General of the Gas Exporting Countries Forum Mohamed Hamel, of Algeria, said at the group's meeting in Cairo that although investment was increasing in natural gas production the countries didn't expect to have new sources of supply online for another three years.

Israel has given London-listed Energean permission to begin producing gas from Karish, an offshore field at the heart of a maritime border agreement about to be signed with Lebanon.

A statement from the energy ministry said they "gave Energean the approval to begin producing natural gas from Karish".

Zara owner Inditex has reached an agreement to sell its Russian business to a Lebanese retail and real estate conglomerate, the Spanish fashion giant said Tuesday in a statement to the country's competition authorities.

The buyer is Daher Group and the potential purchase is pending approval from Russian authorities, Inditex said, without disclosing financial details.

Germany's government is eyeing a compromise that would allow a Chinese firm to take a smaller-than-planned stake in a Hamburg container terminal, after Chancellor Olaf Scholz rejected banning the sale outright.

Global bank giant HSBC on Tuesday announced tumbling profits for the third quarter on impairment charges linked to a weak economic outlook and its upcoming sale of French retail operations.

The pound rose more than one percent against the dollar on Tuesday after Rishi Sunak took office as Britain's prime minister.