Economics

OPEC’s oil revenue increased in 2021 with prices and demand recovering from the tanking of the market during the COVID-19 pandemic, although the number of active rigs among its members

G7 leaders decided on Tuesday to consider imposing worldwide price limitations on Russian energy imports to limit Moscow’s ability to pay its invasion of Ukraine and to contribute up to

According to Bloomberg, Germany has urged the G7 to back out on its pledge to stop funding the production of fossil fuels. Berlin claimed that the G7 nations should acknowledge…

It only took 24 hours for Prime Minister Narendra Modi’s government in India, the world’s second-largest wheat producer, to abandon its intentions to “feed the world” last month. Following five

According to the White House, Russia has defaulted on its foreign obligations for the first time in more than a century, as broad sanctions have virtually cut the country off

The big oil and gas business TotalEnergies has been urged to take extra steps to lower fuel prices domestically, according to French Economy and Finance Minister Bruno Le Maire.

Global dealmaking is experiencing a dry spell as soaring inflation and a stock market crash dampen many company boards’ desire to expand through acquisitions. Russia’s invasion of Ukraine in February,

In the face of rapidly rising inflation, British consumers cut back on purchasing in May, and a measure of their confidence fell to a new low this month, according to

Following the U.S. Supreme Court’s decision on Friday to overturn the Roe v. Wade precedent, which for decades guaranteed a woman’s constitutional right to an abortion, the technology industry is

The International Energy Agency’s chief has warned that Russia may cease delivering gas to Europe this winter. Fatih Birol feels that a complete shutdown is unlikely, but that Europe should

The leaders of the Brics group of countries are scheduled to get together for a summit this year and this move comes amid dramatic alterations in the global order. The

The third quarter of the year will see an extension of energy price containment measures for homes and companies, according to a new regulation passed by Italy's Council of Ministers.

According to François Villeroy de Galhau, governor of the Bank of France and member of the ECB Governing Council, France should escape a recession this year and its economy will…

The European Union (EU) will complete terms of a €9 billion financing package for Ukraine in the next days, according to Bloomberg, citing three European officials. Ursula von der Leyen,…

On Monday, the cryptocurrency industry was in anxiety as bitcoin fought to hold above a critical level, with investors concerned that issues at prominent crypto companies may spark a larger

China’s crude oil imports from Russia increased by 55 per cent year on year in May, surpassing Saudi Arabia as the leading supplier, as refiners took advantage of discounted supplies

According to Reuters, China raised its oil imports from Russia by nearly 25% on a monthly basis and by 55 percent on an annual basis in May, bringing purchases to…

Hungary’s Finance Minister, Mihaly Varga, informed his EU counterparts on Friday that his country could not support corporation tax reform at this time, essentially thwarting an agreement at the EU

On Friday, Hong Kong-based Babel Finance briefly banned crypto asset withdrawals and redemptions as the crypto lender scrambled to pay its clients following the recent downturn in the digital currency

Croatia's membership in the European Union will begin on January 1, 2023, according to the Eurogroup. This is the first stage in the EU Council's process of adopting legal measures…

According to Czech Prime Minister Petr Fiala, Polish oil refiner PKN Orlen plans to spend more than 10 billion crowns (about $435 million) in the Czech energy sector.

On Thursday, central banks across Europe hiked interest rates, a few by rates that shocked markets, and hinted at much higher borrowing costs to come in order to manage skyrocketing

Russia has thwarted a Western-backed initiative to investigate whether its diamonds are supporting war before of an international conflict diamond summit in Botswana, according to letters obtained by Reuters. The

People in Pakistan have been advised to drink less tea in order to keep the country’s economy afloat. According to senior minister Ahsan Iqbal, drinking fewer cups of coffee per

The internet and television rights to the Indian Premier League, the world’s richest cricket tournament, have been auctioned for a record $6.02 billion over the next five years. For $3.05

According to a press statement from Fitch, the international rating agency reduced its global GDP growth prediction for the current year to 2.9 percent from 3.5 percent.

According to a June report from OPEC, oil output fell by 176,000 bpd to 28.51 million bpd in May from April levels, and the organization failed to boost production by…

Bitcoin fell below $24,000 on Monday, the lowest level for it since December 2020, as investors fled the cryptocurrency amid a broader sell-off in risk assets. Meanwhile, a crypto loan

According to a key European Central Bank survey released on Monday, the eurozone will avert a recession this year, and growth will improve considerably after petering out in the second

Rising energy prices and heavy expenditures by EU members, according to Financial Times (FT) analysts, might push the European economy into recession.

According to the International Monetary Fund's (IMF) spokesman Gerry Rice, the global economy's growth forecast for 2022 will be lowered once more.

According to a report by the United Nations Conference on Trade and Development (UNCTAD), the worldwide flow of foreign direct investment (FDI) may drop in 2022 as a result of…

The prime minister of Sri Lanka says that the economic chaos hit island nation would require at least $5 billion over the next six months to pay for vital supplies

The World Bank has warned that nations around the globe are risking recession as the Ukraine crisis strains economies already strained by the Covid pandemic. Less developed nations in Europe

Central banks bought 19.4 tons of gold in April, according to the World Gold Council.

According to Reuters, Norwegian oil workers' unions plan to strike on June 12 if they cannot agree on a wage hike, which could result in a partial shutdown of oil…

Amid the hoopla surrounding US Vice President Joe Biden’s new Indo-Pacific strategy, China went unnoticed and conducted a high-level meeting on RCEP, the world’s largest trade treaty. It happened only

Following concerns that its decision to limit wheat exports could worsen the global food supply situation in the aftermath of the Ukraine war, India has defended its decision to import

Fearing that local authorities may impose a restriction on the sale of the wheat outside the nation, global traders are increasing their purchases of Indian rice, according to Reuters, which…

The European Union has established a duty-free system for Ukrainian goods that will last until June 5, 2023. This is stated in the official gazette of the European Union.

Citigroup Inc Chief Executive Jane Fraser said on Friday that Europe was more likely than the United States to enter a recession, joining other major bank CEOs this week in

Mint reported, citing government officials, that India may soon initiate discussions with Russia, Australia, Indonesia, and South Africa to import coal at a subsidized rate as an emergency measure to…

A top airline industry official pleaded for calm amid recent travel congestion at several airports as people start flying following the epidemic, blaming the backlog on temporary delays in gaining

In May, inflation in 19 eurozone countries reached an all-time high of 8.1%, up from 7.4% in April. Energy, which increased by nearly 40% in May, was the main cause…

China’s lack of expertise with difficult debt restructurings, as well as delayed coordination among its state lenders, is delaying debt relief for Zambia, a test case for the top emerging

Inflation in the eurozone jumped to another record high in May, increasing government bond yields as markets interpreted the data as a challenge to the European Central Bank’s assumption that

According to analysts questioned by CNBC, the global economy will have challenges in the next months, but a possibility of a recession is premature and implausible.

Battery metal prices, such as lithium, cobalt, and nickel, are expected to fall over the next two years due to oversupply induced by green energy investors, says Goldman Sachs.

Major U.S. retailers who recently hurried to resupply shelves due to inventory shortages said this week that their stores are again overflowing with merchandise, and some are even discounting unsold

Energy security has become a primary worry for importers, according to energy executives, as expectations of tighter gas supply and volatile prices in the coming years put buyers on edge