The energy ministers of Lebanon, Jordan and Syria met in Amman on Wednesday and agreed on a timeframe for supplying Lebanon with Jordanian electricity via Syria.

During the meeting, “a work plan and a timeframe were presented to reactivate the electrical connection line between Jordan and Syria, and to carry out all the technical studies and prepare the necessary treaties for the implementation of the supply process,” Jordan’s news agency said.

Land-starved Hong Kong plans to build more affordable housing in response to public demands that have fueled social unrest.

Chief Executive Carrie Lam announced a major development project Wednesday for Hong Kong's border area with mainland China in the last annual policy address of her current term.

Saudi Arabia's oil company Aramco reached a $2 trillion valuation as it hit near record levels Wednesday during trading hours.

Its market cap value puts Aramco just behind Microsoft and Apple as the world's most valuable company. It comes as crude oil prices climb to over $82 a barrel, the highest in seven years.

The United States Agency for International Development (USAID) will "provide up to $29 million to deliver reliable energy across all regions of Lebanon," the U.S. Embassy said on Wednesday.

The Embassy added in a statement that USAID has awarded a contract to IMC Worldwide, Inc. to implement the Innovation for Affordable and Renewable Energy for All (INARA) Activity under the Initiative to Deliver Essential Assistance and Services (IDEAS) Project that is designed to provide up to $29 million to deliver reliable energy across all regions of Lebanon.

New Zealand's central bank raised interest rates for the first time in more than seven years on Wednesday, removing some of the support it put in place when the coronavirus pandemic began.

The Reserve Bank raised the benchmark rate to 0.5% from a record low 0.25%.

France and Spain have pressed for changes to rules governing the European Union's energy markets as prices for gas and electricity surge, ramping up already-high utility bills and tightening yet another notch the belts of people hit hard by the coronavirus pandemic.

European governments are scrambling to find ways to limit the costs to consumers as scant natural gas reserves expose the continent to price spikes and possible shortages if it's a cold winter. Natural gas prices are lower in the U.S., which produces its own, while Europe must rely on imports.

A midsize Chinese real estate developer failed to make a $205.7 million payment due to bondholders Tuesday, adding to the industry's financial strain as one of China's biggest developers tries to avoid defaulting on billions of dollars of debt.

Fantasia Holdings Group announced it missed the payment in a statement issued through the Hong Kong Stock Exchange. It gave no explanation but said it had asked for trading of Fantasia shares to be suspended.

The Czech Republic signed a deal to buy a new air defense system for its military from the Israeli government, the Defense Ministry said Tuesday.

The SPYDER system, which is made by the Israeli state-run company Rafael Advanced Defense Systems Ltd., is capable of providing protection against aircraft, helicopters, bombers, cruise missiles and other weapons.

Global shares were mixed Tuesday after a broad slide on Wall Street led by technology companies.

Shares rose in Paris, London and Hong Kong but fell in Tokyo.

The press office of Prime Minister Najib Miqati has issued clarifications after the premier’s name was mentioned in the Pandora Papers -- a massive trove of leaked documents showing how the world's elite is using tax havens and offshore and shell companies to stash assets worth hundreds of millions of dollars.

The documents show that Miqati, a businessman who formed a new government last month, owns a Panama-based offshore company that he used to buy property in Monaco in 2008 worth more than $10 million.