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...

In 2023, Bitcoin appears to be stable. However, it has only been a week.   Cryptocurrencies have crept into the new year, still licking their wounds from the 2022 devastation. The overall global crypto market cap has risen 5% since January 1 to $871 billion, but it is still down more than...

This week, US banking titans are expected to report lower fourth-quarter profits as lenders stockpile rainy-day funds in preparation for an economic slowdown that is wreaking havoc on investment banking.   JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc (C.N), and Wells Fargo...

Even as the US economy grappled with the effect of rapidly rising prices due to sticky high inflation, job growth in the US was still strong through December. added 223,000 jobs in December, lowering the unemployment rate from 3.6% in November to 3.5%.   The labour market's...