A “truly European” payments system is expected to be up and running in 2022, said about 16 banks from across the European Union. The aim is to forward the process of digitization in a region where almost half of the transactions in retail purchases are done through cash.   Creation of a home...

Ministry of Finance of the Federal Republic of Germany is developing a bill to reduce the tax burden for a total of €42.5 billion inclusive until 2024, the Handelsblatt publication reports with reference to the bill that fell into the disposal of the publication. According to the publication, the...

With China and the U.S. moving ahead in their space technology, the EU feels the pressureto “keep up” and decides to for the first time to spend from its budget. The European Union decides to invest more on “rocket launches, satellite communication and space exploration”. This move is being made to...

Since the end of March, the cost of Arabica coffee futures fell by 16% - this is the strongest quarterly drop in five years. Experts see the reason for this in investors' fears of a decline in coffee consumption amid the novel coronavirus pandemic and in a change in demand patterns. The current...

Retail sale, one of the important components of Japanese economy, dropped in the month of May in double digits, the second straight month of drop, even as consumer confidence and economic recovery prospects have been delivered a severe blow because of the novel coronavirus pandemic and related...

The advisers of climate change committee’s report found Britain’s policies on climate change falling “well short”. The climate advisers of British government have come out with a report wherein they mentioned that the government needs to make use of the fund from “coronavirus recovery plan” for...

A majority of analysts polled by the Reuters news agency have presented a subdued outlook for the significant global housing markets and identified the biggest hurdles to the recovery in the coming years to be the high unemployment because of the coronavirus pandemic and lockdowns and low...

The novel coronavirus pandemic’s hit to the global economy is resulting a much steeper recession and a much slower recovery than was initially expected by the International Monetary Fund. This forced the IMF to slash its global economic forecasts for 2020 further on Wednesday.   The IMF...

US oil production for the week ending June 19 rose by 0.5 million to 11 million barrels per day, according to a weekly review of the energy information department of the country's energy department. The weekly production rate rose for the first time in 11 weeks. Until then, it has been continuously...