Ursula von der Leyen, the head of the European Commission, revealed a new EU economic security policy at the G7 summit in Japan. The EC plans to debate this approach with the Union's member states in June. "The possibility of interdependencies turning into weapons must be understood. The European...

The New York Times writes that the oil and gas business in Canada is being impacted by the wildfires presently raging through western Canada, prompting corporations to halt operations. The newspaper stated that "the widespread fires in western Canada are also striking at the heart of Canada's oil...

Japan's economy has come out of recession and recorded an expansion faster than projected in the first quarter, as a post-COVID consumption bounce overcame global challenges, raising prospects for a long-term recovery.   However, signals of a downturn in growth in the United States, Europe,...

Democratic President Joe Biden and senior Republican congressional leader Kevin McCarthy moved closer to a compromise to prevent a U.S. debt default on Tuesday, as the possibility of an economic nightmare pushed Biden to cancel a trip to Asia this week.   After an hour of talks, House...

Iraq's oil ministry invited foreign firms to develop 13 oil and gas fields. According to a statement from the Oil Ministry's press office, Iraqi Oil Minister Hayan Abdel-Ghani invited foreign firms to take part in the investment project tender for the development of 13 fields and exploration sites...

Consumer sentiment in the United States fell to a six-month low in May, partly to concerns that political wrangling over raising the federal government's borrowing limit could precipitate a recession.   The University of Michigan survey released on Friday also revealed that consumers'...

The Group of Seven (G7) advanced economies' finance ministers are going to discuss this week the concept of placing targeted limits on investments to China, which economists describe as a double-edged sword that will make little progress.   China is on the minds of G7 finance leaders meeting...

According to a news release from the regulator, the Bank of England increased its benchmark interest rate by 25 basis points in May, from 4.25% to 4.5%, and is ready to raise it even further in the event of increasing inflationary pressures. The central bank's choice was in line with what analysts...

On Thursday, U.S. Treasury Secretary Janet Yellen urged Congress to increase the $31.4 trillion federal debt ceiling in order to prevent an unprecedented default that would send the world economy into a tailspin and jeopardise American economic dominance.   In remarks prepared for a news...