The International Union of Credit and Investment Insurers (Berne Union) accepted Iran as a member after its candidacy the majority of the union members' votes, according to the IRIB news agency. The Export Guarantee Fund of Iran has become a permanent member with a majority votes of the union's...

The European Union's plans to ratify a reform of the bloc's power market on Monday have been derailed by a last-minute request to extend subsidies for coal plants. The reform was intended to move the electricity system towards cleaner energy sources.   Energy ministers from the EU's member...

As the company reported a 9% increase in underlying quarterly UK sales, Tesco, the largest retailer in the UK, said the country's food inflation was beginning to lessen, providing some respite for stressed consumers and the larger economy.   "We do believe that we're past the peak...

After May statistics revealed that the post-COVID recovery in the second-largest economy in the world was faltering, several major banks lowered their 2023 gross domestic product (GDP) growth projections for China.   Nomura, a Japanese bank, announced in a note on Friday that it has lowered...

At its meeting on June 15, the Governing Council of the European Central Bank increased the base rate by 25 basis points to 4%. A 3.5% deposit rate was implemented, and 4.25% - on short-term borrowing. These rates will become effective on June 21. The decision to increase the rate is justified by...

The European Union plans to strike five Chinese firms out of the 11th set of sanctions against Russia. According to Bloomberg, which cited sources familiar with the situation, the European Union intends to drop measures to impose restrictions on five Chinese companies that it suspects of providing...

According to figures released on Thursday, New Zealand entered a recession as a result of the first quarter's economic contraction. This decreased the likelihood that the central bank would need to raise interest rates further, but it also added a new challenge for the government's bid for...

By the end of the year, Morgan Stanley predicted that Asia's growth will surpass that of the United States and Europe since the area had mostly avoided interest rate shocks.   “By the fourth quarter of this year, we think Asia’s growth will be outperforming U.S. and Europe by about 450 basis...

According to new data, China, which has the second-largest economy and population in the world, will once again have the greatest migration of billionaires this year.   China is predicted to lose the most billionaires this year owing to migration, more than any other nation, according to a...