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AI-Enhanced Targeting Becomes Crucial as Ukrainian Drone Units Seek Battlefield Superiority 11/29/2025

Rio Tinto plans to sell assets worth $5-10 billion 12/05/2025

Airlines Mobilise Worldwide as Airbus A320 Recall Sparks Urgent Fix Campaign 11/29/2025

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Economics

VAT In Saudi Arabia Tripled As Coronavirus Hits Country’s Economy

The oil dependent Saudi Arabian economy has been hit hard by the novel coronavirus pandemic as well as a very sharp drop in the global oil prices. As a consequence of the hit, the country has decided to increase value added tax (VAT) by three folds as a part of its austerity measures to support the...

Fed Policymakers Say US Economy And Job Market Will Not Show A ‘V’ Shaped Recovery”

According to officials of the United States Federal Reserve, a quick return to growth should not be expected by Americans even as many parts of the largest economy of the world start to reopen after weeks of lockdowns which has managed to slow down the spread of the coronavirus pandemic in the...

Peru's exports show record drop in 10 years in March

Peru's exports showed a record decline in 10 years in March, including due to COVID-19; a decline is observed in all sectors, the Peruvian Exporters Association (ADEX) said. "Exports in March amounted to $ 2.2 billion, falling by 40.7%, this is the most severe drop in recent years, even deeper than...

Italy’s Debt To GDP To Rise Ot 160% This Year, Says EU

The coronavirus pandemic has hit Italy hard and its economy is expected to shrink this year. According to estimates that shrinking will result in a rise of the country’s public debt to nearly 160 per cent of its gross domestic product for the current year. This was stated by the European Union...

UK New Car Registration In April Falls To Lowest Since 1946

The ferocity of the impact on the economic by the novel coronavirus pandemic in the United Kingdom was evident in the new car sale data of the country for the month of April which saw a year on year drop of 97 per cent and reaching the lowest level of any month since February 1946. Lockdown imposed...

Oil prices climb above $30 for the first time in three weeks

The cost of the July futures for Brent crude on the London ICE grew by 11.91%, to $ 30.44 per barrel. This is the first time since April 15, when the price of Brent oil exceeded $ 30. Meanwhile, the cost of WTI oil rose to $ 23.95 per barrel, adding more than 15% per day. According to analysts at...

Eurozone GDP may grow at around 6% in 2021

Eurozone GDP, which includes 19 of the 27 EU countries, could grow between 4-6% next year, according to a forecast by the European Central Bank (ECB). Earlier, ECB said that according to the results of the current year, the eurozone GDP could fall within 12%. "In 2021, GDP growth will be...

Baker Hughes reports decline in global oil and gas rigs number

The number of drilling rigs for oil and gas worldwide fell in April in monthly terms by 450 units, or 23%, to 1514 units, according to data from the American oil and gas service company Baker Hughes. In annual terms, the number of operating rigs decreased by 626, or 29.2%. In the USA, according...

ECB expects 5-12% decline in Eurozone's GDP

On Thursday, the European Central Bank (ECB) announced the launch of an additional bank lending program to maintain liquidity. The institution is also ready to increase the repurchase of assets, if necessary. Meanwhile, ECB head Christine Lagarde expects a 5-12% drop in euro area GDP this year, and...

US GDP collapses in Q1 for the first time in six years

The US economy in the first quarter fell by 4.8% in terms of annual rates, according to a preliminary report by the US Department of Commerce. The decline took place for the first time from January-March 2014, when GDP fell by 1.1%. At the same time, it became the highest since the fourth quarter...