Russian Foreign Minister Sergei Lavrov visited gas-producing ally Algeria for talks Tuesday as a European drive to secure alternative supplies gathers pace.

Lavrov, who arrived in Algiers late Monday, was due to hold talks with both Foreign Minister Ramtane Lamamra and President Abdelmadjid Tebboune, Algerian reports said.

Iran's president has said the country is exporting twice as much oil as when he took office in August, despite heavy sanctions on oil exports imposed by the U.S.

Ebrahim Raisi made the claim in a live interview on state-run TV without elaborating, including on the amount of oil being exported.

The United States government has reached agreements with 20 major telecom companies to cut costs or raise internet broadband speeds for tens of millions of eligible households, the White House announced Monday.

The company that controls most Ikea branches is repurposing its stores to adapt to soaring online business.

China's export growth tumbled in April as global demand weakened, adding to pressure on the world's second-largest economy after Shanghai and other industrial cities were shut down to fight virus outbreaks.

Exports rose 3.7% over a year earlier to $273.6 billion, down sharply from March's 15.7% growth, customs data showed Monday. Reflecting weak Chinese demand, imports crept up 0.7% to $222.5 billion, in line with the previous month's growth below 1%.

Global shares fell on Monday as interest rate hikes and a slowing Chinese economy weighed on investor sentiment.

European shares fell in early trading and Asian benchmarks also declined.

Informed political sources have expressed concern that the Lebanese currency could witness a new freefall after the May 15 parliamentary elections.

“The central bank is still intervening to prevent a price deterioration and to keep (the dollar exchange rate) within LBP 25,000 to LBP 30,000, based on a request from some influential officials who want to keep the dollar under control, so that any surge does not affect the choices of voters” in the parliamentary elections, the sources told al-Joumhouria newspaper in remarks published Monday.

The World Bank approved a $150 million soft loan for food security in crisis-hit Lebanon to stabilize bread prices during the coming months, the economy minister said Monday.

Amin Salam told reporters that the loan has a very low interest rate but the minister did not make the rate public. He used the term soft loan indicating a below-market rate of interest.

World stocks followed Wall Street lower Friday as fears spread that U.S. interest rate hikes to fight inflation might stall economic growth.

London and Frankfurt opened lower. Shanghai, Hong Kong and Sydney declined. Tokyo gained as trading resumed after a holiday.

Elon Musk has strengthened the equity stake in his $44 billion offer to buy Twitter with commitments of more than $7 billion from a diverse group of investors including Silicon Valley heavy hitters like Oracle co-founder Larry Ellison.

A regulatory filing Thursday also said that Musk is in talks with others for additional funding, including former Twitter CEO Jack Dorsey, the social media platform's second-largest individual stakeholder after Musk.