Russia's GDP declined 4.0% year on year in the second quarter of 2022, the first full quarter of what Russia calls a "special military operation" in Ukraine, according to preliminary figures released on Friday by the government statistics service Rosstat.   After Moscow pushed its armed...

According to the organization's August report, OPEC members again produced below the levels allowed under the OPEC+ agreement. Thus, they satisfied the agreement by 412% even though OPEC oil output increased by 162,000 bpd in July to 28.84 million bpd from June. "Secondary sources indicate that in...

Slowing inflation in the United States may have allowed the Federal Reserve to slow the pace of future interest rate hikes, but policymakers have made it clear that they will continue to tighten monetary policy until price pressures are entirely broken.   A Labor Department report released...

Greece will leave the European Union's so-called enhanced monitoring framework on August 20, its finance minister announced on Wednesday, giving the country more leeway in economic policymaking.   The framework has been monitoring Greek economic developments and policy since 2018, after...

The so-called "chip law" was signed by US President Joe Biden. In order to boost the nation's competitiveness against Chinese technical advancements, it offers $52.7 billion in subsidies for semiconductor and chip manufacture and research in the U.S. A $52.7 billion subsidy to support semiconductor...

According to TVE news, farmers in Spain worry that one of the worst droughts the nation has experienced in a decade will raise food prices to a point where many people won't be able to afford even basic foods. "The drought is one of the worst to hit farmers and ranchers in a decade. Despite the...

According to four industry sources, Russian airlines, including state-controlled Aeroflot, are dismantling jetliners to get spare components that they can no longer buy outside due to Western sanctions.   The efforts are consistent with the Russian government's advice to airlines in June to...

According to Saxo Bank, the United Kingdom is a "emerging market country" due to political insecurity, trade interruptions, an energy crisis, and surging inflation.   The Bank of England warned last week that the United Kingdom's economy will enter its longest recession since the Great...

Official data showed that Indonesia's economic growth surged in the April-June quarter due to an export boom fueled by higher commodity prices, but monetary tightening, rising inflation, and the prospect of a global recession all threaten the outlook.   According to Statistics Indonesia, the...