Japan is no longer the world’s third largest economy after unexpectedly slipping into recession at the end of last year, according to official figures released on Thursday. Germany has now moved into third place in terms of nominal GDP.

Consumer prices in the South American country have soared since the devaluation of the peso by the new government Annual inflation in Argentina hit a three-decade high of 254% in January even as the rate slowed slightly in monthly terms, according to official data released on Wednesday.

Russian gas that is piped though Ukraine adds billions of dollars to Kiev’s coffers The EU has no intention of extending the gas transit contract with Russia via Ukraine when it expires at the end of this year, European Energy Commissioner Kadri Simson told an EU Parliament committee meeting on Thursday.