In January, Iraq showed 106% compliance with the agreement to reduce oil production under the OPEC+ agreement, the Iraqi state-owned State Oil Marketing Organization (SOMO) said on Wednesday. "Iraq complied (with the terms of the deal to reduce oil production - ed.) by 106% in January," the INA...

The global economy shrank by 4.3% in the "covid" year 2020, which was the biggest decline since the Great Depression, according to a UN report on the economic outlook. Global growth could reach 4.7% this year, with developing countries expected to recover more quickly than developed countries. UN...

The composite business activity index (PMI) for industry in the euro area fell slightly to 54.8 points in January from 55.2 points in December. Such data was published by research company IHS Markit on 1 February. The January result was slightly better than analysts' expectations - they had...

India plans to pass a law banning various cryptocurrencies, including Bitcoin, and set a legislative framework for an official digital currency to be issued by the country's central bank. "To set an comprehensive framework for an approved cryptocurrency to be issued by the India's Reserve Bank. The...

The United States based auto giant General Motors hopes to offer zero emission vehicles only by 2025 and has set a target of becoming carbon neutral by 2040 in its global operations, the company said on Thursday.   It is planning to manufacture only electric vehicles in the future, the...

At the end of last year 2020, financial support provided by governments to national economies because of the coronavirus pandemic reached a total of $14 trillion. This was revealed in a report by the World Monetary Fund (IMF). Of this amount, $7.8 trillion came from additional spending and revenue...

There will potentially be a new cold war if the newly elected United States president Joe Biden continues with the protectionist policies for the country as implemented by the former president Donald Trump, warned China’s president, Xi Jinping.   While calling for adopting a multilateral...

The U.S.-China trade deal, negotiated at length in January 2020, was only partially fulfilled by the PRC at 58% amid the pandemic, but China did increase its purchases of American goods, according to the Peterson Institute for International Economics (PIIE). In total, PRC imports amounted to about...

While there was a 42 per cent drop in foreign direct investment (FDI) globally in 2020, China bucked the trend and was the top recipient of the foreign investment flows, showed a report by the United Nations Conference on Trade and Development (UNCTAD) on Sunday.   Compared to FDI inflow of...