The amount invested in the extraction of oil worldwide is decreasing on average by $500 billion a year, and this may result in affordability and security issues, said Haitham Al Ghais, the general secretary of OPEC+. "The amount of investment going into the oil industry has significantly decreased,...

Australia's central bank increases the key rate to 3.6 percent, the highest level in more than a decade. The Reserve Bank of Australia increased its benchmark interest rate by 25 basis points on Tuesday to 3.60 percent, the highest level in more than a decade, and stated that additional monetary...

China intends to spend heavily to help its chip sector overcome US export restrictions, but money can only go so far unless Chinese firms can break free from a cycle that stifles innovation and traps them at the bottom of the value chain, according to industry participants.   According to...

According to the country's draft 2023 budget, Chinese officials will raise the military budget by 7.2 percent to 1,553.7 billion yuan (roughly $224.8 billion) in 2023. Additionally, spending on public security will increase by 6.4% to 208.972 billion yuan ($30.2 billion) and diplomatic action will...

In an interview with Spanish television station Antena 3, the ECB’s head Christine Lagarde stated that the European Central Bank (ECB) will once more increase its key rate by 50 basis points in March to slow down the inflation. "The next meeting will see another increase; because inflation is too...

The fourth quarter of last year saw venture capital funds raise $20.6 billion, which was 65% less than a year earlier and the lowest amount since 2013. The number has more than decreased by half as compared to the third quarter of 2022. The Wall Street Journal stated this with reference to the...

According to a news release posted on the official website of Mexico, President Manuel Lopez Obrador designated 235 thousand hectares of land in the northern state of Sonora as a national lithium mining zone. The press release states: "Andrés Manuel López Obrador, President of the republic, has...

To better prevent risks in the nation's financial system, China's banking regulator and central bank intend to implement a more differentiated regulatory system for evaluating commercial banks' capital adequacy and risk management.   On Saturday, the People's Bank of China and the China...

As the auto industry was hit hard by Western sanctions over the conflict in Ukraine, spending on new cars in Russia more than halved last year. Production fell, prices shot up, and consumers began to turn to used cars that were less expensive.   Russian economic restraints have undoubtedly...