On Thursday, central banks across Europe hiked interest rates, a few by rates that shocked markets, and hinted at much higher borrowing costs to come in order to manage skyrocketing inflation, which is eroding savings and squeezing corporate profits.   Inflation has spread to...

Russia has thwarted a Western-backed initiative to investigate whether its diamonds are supporting war before of an international conflict diamond summit in Botswana, according to letters obtained by Reuters. The Russian effort was supported by Belarus, Central African Republic, Kyrgyzstan and...

People in Pakistan have been advised to drink less tea in order to keep the country's economy afloat. According to senior minister Ahsan Iqbal, drinking fewer cups of coffee per day will reduce Pakistan's hefty import expenses.   The country's short foreign currency reserves - currently...

The internet and television rights to the Indian Premier League, the world's richest cricket tournament, have been auctioned for a record $6.02 billion over the next five years.   For $3.05 billion, Viacom18, backed by Indian billionaire Mukesh Ambani, obtained streaming rights until 2027....

According to a press statement from Fitch, the international rating agency reduced its global GDP growth prediction for the current year to 2.9 percent from 3.5 percent. The forecast for the coming year has also been trimmed by 0.1 percentage point, to 2.7 percent. The agency decreased the United...

According to a June report from OPEC, oil output fell by 176,000 bpd to 28.51 million bpd in May from April levels, and the organization failed to boost production by the entire amount authorized in the reporting month under the OPEC+ deal, surpassing the agreement by 96 percent. "In May 2022,...

Bitcoin fell below $24,000 on Monday, the lowest level for it since December 2020, as investors fled the cryptocurrency amid a broader sell-off in risk assets.   Meanwhile, a crypto loan company named Celsius has halted withdrawals for its customers, raising concerns about market...

According to a key European Central Bank survey released on Monday, the eurozone will avert a recession this year, and growth will improve considerably after petering out in the second quarter.   The effect from Russia's invasion of Ukraine has harmed the 19-country currency bloc, reducing...

Rising energy prices and heavy expenditures by EU members, according to Financial Times (FT) analysts, might push the European economy into recession. The European Central Bank (ECB) should boost its prime rate to combat inflation in the near future to avoid such effects. "Economic growth has...