The current account surplus of Russia touched a record high in 2022, according to the central bank of the country, as lower imports and strong oil and gas exports kept foreign money flowing in into the country even in the face of Western sanctions aimed...

According to Fernando Haddad, Brazil's minister of economy, the country wants to implement tax reform and close the state budget deficit in the next two years. Haddad stated during the WEF session that "we aspire to return to the pre-crisis pandemic budget revenues and spending, which is 18.7% (of...

China's economic growth in 2022 will be one of the slowest in nearly a half-century, thanks to strict COVID curbs and a property market slump in the fourth quarter, putting pressure on policymakers to announce more stimulus this year.   Although quarterly growth and some December indicators,...

IMF head Kristalina Georgieva warned that trade fragmentation may cost the economy 7% of the global GDP "in a terrible situation". In a statement posted on the IMF website, Georgieva claimed that a recent study suggested that trade fragmentation alone might eventually cost the world economy 0.2% of...

The decision by Indonesia, the world's largest palm oil exporter, to restrict shipments and increase domestic biodiesel consumption is expected to squeeze global vegetable oil supplies, which are already being squeezed by lower output in Southeast Asia and Latin America.   Buyers of edible...

China's exports fell sharply in December as global demand cooled, raising concerns about the country's economic recovery this year, but a more modest drop in imports reinforced views that domestic demand will gradually recover in the coming months.   While imports are expected to rise on the...

Malaysia said on Thursday that it may stop exporting palm oil to the European Union in response to a new EU law that strictly regulates the product's sale in order to protect forests.   Malaysia and Indonesia, according to Commodities Minister Fadillah Yusof, will discuss the law, which...

According to a source familiar with the matter, Goldman Sachs has begun laying off employees on Wednesday as part of a broad cost-cutting drive, with roughly one-third of those affected coming from the investment banking and global markets division, according to reports quoting information from...

Rare Russian oil grades from the Arctic are imported by China. In controversy are the Arco, Novy Port, and Varandey crudes, reports Bloomberg referring to the analytical firm Vortexa. Analysts point out that these grades were meant for exports to Europe prior to the imposition of the price cap ($60...