Daily Management Review
Economics

Iran cuts oil production to 40 years as storages are full

Iran has reduced oil production to a minimum over the past 40 years amid nearly full storage facilities due to consequences of the novel coronavirus pandemic and a drop in oil exports, Reuters reported. "Iran has reduced oil production to its lowest level in four decades, since storage tanks and...

New Offer To Creditors To Be Offered By Argentina, To Extend Negotiation Conclusion Deadline

An improved offer will be made by Argentina to its creditors while also urging them to extent the negotiations for restructuring of its debts worth about $66 billion through the end of August. This was said by the Argentine President Alberto Fernandez during the weekend,   "The new offer...

A ‘Truly European’ Payments System To Rival Visa And Mastercard Being Developed By EU Banks

A “truly European” payments system is expected to be up and running in 2022, said about 16 banks from across the European Union. The aim is to forward the process of digitization in a region where almost half of the transactions in retail purchases are done through cash.   Creation of a home...

German authorities prepare €42.5B tax exemptions until 2024

Ministry of Finance of the Federal Republic of Germany is developing a bill to reduce the tax burden for a total of €42.5 billion inclusive until 2024, the Handelsblatt publication reports with reference to the bill that fell into the disposal of the publication. According to the publication, the...

After the 2018 FIFA World Cup, French sports equipment specialist Metalu Plast expands international sales

After winning the bid to fit out the VIP sections to six of the national football stadiums selected for the 2018 FIFA World Cup in Russia, Metalu Plast emerged as a major player in the international sports equipment market. Since then, the French manufacturer has seen its visibility and fortunes...

EU To Invest In Space Technology Giving ‘Means To Speed Up’

With China and the U.S. moving ahead in their space technology, the EU feels the pressureto “keep up” and decides to for the first time to spend from its budget. The European Union decides to invest more on “rocket launches, satellite communication and space exploration”. This move is being made to...

Coffee prices show greates drop in 5 years

Since the end of March, the cost of Arabica coffee futures fell by 16% - this is the strongest quarterly drop in five years. Experts see the reason for this in investors' fears of a decline in coffee consumption amid the novel coronavirus pandemic and in a change in demand patterns. The current...

Retail Sale In Japan Continued Its Drop In May Because Of Covid-19 Restrictions

Retail sale, one of the important components of Japanese economy, dropped in the month of May in double digits, the second straight month of drop, even as consumer confidence and economic recovery prospects have been delivered a severe blow because of the novel coronavirus pandemic and related...

‘Coronavirus Recovery’ Fund Needed For Britain’s Climate Goal: CCC Advisers

The advisers of climate change committee’s report found Britain’s policies on climate change falling “well short”. The climate advisers of British government have come out with a report wherein they mentioned that the government needs to make use of the fund from “coronavirus recovery plan” for...

Reuters Poll Indicates Slow Recovery For Global Housing Market

A majority of analysts polled by the Reuters news agency have presented a subdued outlook for the significant global housing markets and identified the biggest hurdles to the recovery in the coming years to be the high unemployment because of the coronavirus pandemic and lockdowns and low...
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