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Goldman Sachs obliges its employees to get permission to travel to Paris during the Olympic Games 2024 04/30/2024

China's Manufacturing And Service Activity Declines In April, Reducing The Pace Of The Economy 04/30/2024

Blackstone buys Hipgnosis for $1.57B 04/30/2024

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Economics

Petrol prices rise in the US after pipeline attack

The cost of petrol in the US after a hack attack on the Colonial Pipeline, which supplies fuel to the East Coast, has approached the highs of November 2014. According to Bloomberg, petrol stations in some states are already facing gasoline shortages. Average petrol prices in the US reached $2.985 a...

Moody's cites ageing people as reason for slower economic growth

Analysts at Moody's have concluded that an ageing world population will be reducing global economic growth by 0.9 percentage points a year over five years, from 2020 to 2025. Ageing of the world's population would cut global economic growth by 0.9 percentage points a year, Moody's experts said....

Dramatic Rise In Mineral Supply Needed For Electric Vehicles And Renewables Surge, Warns IEA

The International Energy Agency is of the opinion that of the world has to meet the climate targets, there has to be a boost up over the next decades in the supply of critical minerals that are considered to be crucial for technologies such as wind turbines and electric vehicles. The...

New lockdown in Germany brings down Eurozone's economy

Restrictions due to the third wave of the coronavirus in Germany have dragged other eurozone countries into the crisis, Deutsche Welle wrote, citing a report from the Federal Statistical Office. According to statistics, for the first quarter of 2021, Germany's GDP collapsed by 1.7 percent, which...

Saudi Arabia Targets To Save $200 Bln From Energy Reforms

Replacing liquid fuel used for domestic consumption with gas and renewable energy sources could help Saudi Arabia to save more than $200 billion over the next decade, said the kingdom’s finance minister said even as the country tries to reduce its reliance on fossil fuels and find new ways of...

Experts: Europe's economy exceeds forecasts

Economic growth in the Eurozone has surpassed experts' expectations as the region has shown a high rate of recovery from the effects of the COVID-19 pandemic, CNBC reports. Thus, business activity index (PMI), according to the IHS Markit survey of top managers of large companies, rose from 53.2 to...

Post-Pandemic Travel Norms And Issues Now Concern For Airlines Instead Of Pandemic Hit Recovery

Top executives of global airlines are now focused on the assessment of the long term impact of Covid-19 pandemic on the premium travel segment, technology and other critical aspect of their business even as the airline industry continues to face new issues that could derail or hamper the industry’s...

Manufacturing Boom In April In US Signals Continued Booming Economy

With the American economy reopening and a surge in domestic demand, manufacturers in the United States are increasingly finding it difficult to source raw materials and other inputs even though factory activity in the country continued to surge in April. Good news for the US economy...

Reuters Poll Shows Forecast For Vigorous Recovery For Global Economy In 2021

A poll of more than 500 economists conducted by the news agency Reuters revealed that the recovery of the global economy this year form the lows that it hit because of the novel coronavirus pandemic in 2020 will be sharpest since the 1970s. Wide majority of the economists participating in...

World's largest economies lose 7.1% of GDP due to lockdowns

Lockdowns and other restrictive measures during the pandemic cost the largest economies an average of 7.1 percentage points of GDP, according to a joint review by ACRA and Chinese rating agency Golden Credit Rating. A total of 27 countries accounting for 81% of global GDP were taken into account in...