The price of oil may exceed $80 per barrel this winter, says the head of Vitol, the largest independent oil trader. He also expects global oil demand to rise amid the gas crisis. The world's largest independent oil trader Vitol expects the price of oil to exceed $ 80 a barrel this winter, writes...

Global steel production totalled 1.322 billion tonnes in January-August 2021, up 10.6% year-on-year, according to the World Steel Association (WSA). CIS countries, according to preliminary data, increased steel output by 17.7% to 70.9 million tonnes. The EU countries produced 102.1 million tonnes...

Many investors are still hesitant about purchasing stocks after the sharp August sell-off, as China's slowing economic recovery and plans for redistribution of wealth threaten to disrupt Europe's luxury sector.   According to UBS analysts, the main driver of the sector is demand for high-end...

According to the International Monetary Fund, its executive board got together on Tuesday to discuss and review a report that was prepared for the World Bank and one that has created a flutter within this global agency.   Made public last week, the report alleges that Kristalina Georgieva,...

China hopes to bring in a set of new robots – such as an automated vehicle that can move heavy items around industrial spaces, within their manufacturing system to enhance the value chain.   There is government support for the sector as well. A Tianjin-based robot maker for example, has...

A group of external advisers to the World Bank has suggested a complete reshaping of the flagship Doing Business rankings in order to curb the efforts of countries to "manipulate their scores", and this report was passed on the Bank weeks prior to the scrapping of the rankings following a damning...

According to the predictions of the Organisation for Economic Co-operation and Development (OECD), prices in most countries of the G20 group of major economies will continue to rise faster than the rates seen prior to the pandemic for a period of two more years.   The Paris-based policy...

Monday was the worst day for the US market in almost a year. The sell-off was triggered by investor fears over the possible bankruptcy of Evergrande, China's biggest real estate developer, and expectations of a reduction in the Fed's stimulus programmes. The US market on Monday posted its biggest...

Following a formal application by China, the second largest economy of the world, to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), its leading member Japan said that it would have to be determined if China met the "extremely high standards" of the CPTPP....