U.S. GDP rose 7.1 percent year-over-year last quarter, according to the third and final estimate (if GDP had grown at the same rate for four straight quarters), according to analysts polled by Daily FX. The release will be issued by the Commerce Department's Bureau of Economic Analysis on...

Fumio Kishida, Japan's prime minister, instructed his cabinet to put together a new relief package by the end of April to help offset the economic impact of rising fuel and raw material prices.   The package is expected to include a continuation of a fuel subsidy for oil distributors, as...

The UAE sovereign fund Mubadala has decided to suspend all investment in Russia, Reuters reported. UAE sovereign fund Mubadala, the second largest sovereign fund of Abu Dhabi, will suspend all investments in Russia, Reuters reported, citing the general director of the fund Khaldoon Al Mubarak. Its...

A European Commission study of academics, think tanks, and other groups and individuals proposed that the European Union, like national governments, should have a proper budget that it could use to stabilise the bloc's economy if necessary.   The EU's 27 member states currently have a budget...

About 100 thousand agricultural enterprises in Italy may close due to the coronavirus pandemic and the situation in Ukraine, according to the largest association of Italian agricultural producers Coldiretti. Based on data from the national Agricultural Research Council, Coldiretti experts argue...

UAE Industry Minister: Oil demand up about three million barrels a day. Sultan Al Jaber, Minister of Industry and Director of Abu Dhabi Oil Company ADNOC, said on Monday during the Global Energy Forum that a return to pre-pandemic CPOVID-19 oil demand levels is possible by the last quarter of 2022,...

With the economic consequences of the Ukraine crisis becoming clear, Qatar's foreign minister told CNBC that some countries were exploring a "parallel system" of oil pricing.   It comes after the Wall Street Journal reported that Saudi Arabia is speeding up talks with China to accept yuan...

Russia's invasion of Ukraine on February 24 triggered broad sanctions, ripping the country out of the global financial fabric and sending its economy into a tailspin.   After a month, Russia's currency has lost a significant portion of its value, and its bonds and stocks have been removed...

The United Nations has lowered its global economic growth prediction to 2.6 percent. At a press conference on Thursday, UN cut its prediction for global economic growth in 2022 to 2.6 percent, according to UN Secretary-spokesperson General's Stéphane Dujarric. "The United Nations Conference on...