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OpenAI starts talks with Microsoft about new funding and future IPO 05/12/2025

Worsening Factory-Gate Deflation in China as Trade War Bites 05/11/2025

Markets Rally on US–China 90-Day Tariff Pause as Investors Brace for Protracted Talks 05/12/2025

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Economics

ING Bank to stop financing oil and gas exploration and production by 2040

By 2040, Dutch bank ING will progressively cease funding the production and development of oil and gas, the credit organization announced in a statement. ING will specifically cut lending to upstream projects by 35% by 2030, which will result in a halving of the volume of financed emissions in this...

The King Dollar Could Be Fragile In 2024 If The Fed Changes Course

The case for the dollar's continued decline into 2024 has grown following the US Federal Reserve's dovish December pivot, while the strength of the US economy may be able to contain the greenback's fall. Due to strong U.S. economy and the central bank's commitment to maintaining high...

As Anticipated, China Maintains Unchanged Lending Benchmark Rates

Following the central bank's decision to maintain the stability of its medium-term policy rate earlier this week, China maintained benchmark lending rates at the monthly fixing on Wednesday, in line with market expectations. But as deflationary pressure drives up real borrowing costs,...

Despite Sanctions, Turkey Manages To Save $2 Billion On Purchase Of Russian Oil With Increased Imports

Turkey and Turkish enterprises saved almost $2 billion on energy bills in 2023 by increasing imports of inexpensive Russian oil and processed goods, according to a Reuters estimate based on LSEG statistics and dealers' estimations. Despite Western sanctions, Ankara wants to buy more from its...

Will China Be Able To Revert To Its Economic Miracle By 2024?

After a lacklustre post-COVID recovery, Beijing is faced with a difficult decision for 2024 and beyond: increase debt or decrease growth. This has cast serious doubt on the basis of China's decades of remarkable growth. It was anticipated that after China abandoned its harsh COVID...

Goldman Sachs raises 2024 forecast for S&P 500 to 5100 points

Analysts at Goldman Sachs drastically raised the Standard & Poor's 500 stock index prediction for 2024, going from 4700 points in November to 5100 points. The S&P 500 was valued at 4719 points at the conclusion of business on December 15, meaning that the index is expected to expand by...

Venezuelan Oil Will Be Purchased By India, Indian Minister Says

Since some Indian refiners are equipped to handle heavy crude oil, India would purchase Venezuelan oil, the country's oil minister, Hardeep Singh Puri, announced on Friday. Following the US lifting of sanctions in October, Indian refiners have already started buying Venezuelan oil again....

November Saw A Rise In US Industrial Output, With A Underlying Mild Trend

November saw an increase in production at American factories thanks to a spike in auto production after the strikes ended, but activity was lower abroad as manufacturers struggled with rising borrowing costs and declining demand. Even with the varied results for the manufacturing sector,...

EU Leaders Unable To Reach A Consensus On Renegotiating The EU Budget And On A Ukraine Aid Package Worth €50 Billion For Ukraine

The European Union opted to begin accession talks with the war-torn nation UKraine, but failed to reach a consensus on a financial aid package worth 50 billion euros ($54 billion), which Ukraine urgently needs to survive. Hungarian Prime Minister Viktor Orban denied the aid, dealing...

China Plans To Issue Special Debt And Sustain A 3% GDP Budget Deficit In 2024

Chinese leaders decided to run a 3% GDP budget deficit in 2024 at their annual meeting on the economy. A Reuters report that cited unidentified sources claimed that additional fiscal support could be provided by off-budget debt. With the ability to issue off-budget sovereign debt, Beijing...