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World Economy

Despite OPEC+ supply cut, global oil market will be in surplus during 2025: Report

Despite OPEC+ supply cut, global oil market will be in surplus during 2025: Report

Tue, Dec 17, 2024

The global oil market is projected to return to surplus in 2025, even as OPEC+ extends supply cuts to stabilize prices, according to an ING report. This surplus, though modest, is expected to exert downward pressure on oil prices, with Brent crude likely to average around USD 71 per barrel next year.

German industry grows in January but car output remains weak

German industry grows in January but car output remains weak

Fri, Mar 08, 2024

Industrial output in Germany, Europe's biggest economy, rose more than expected in January, raising hopes that the economy is finally bottoming out after a lengthy manufacturing recession.

German exports rise more than expected in January

German exports rise more than expected in January

Wed, Mar 06, 2024

German exports rose more than expected at the start of the year thanks to rising demand from EU countries and China, data from the federal statistics office showed.

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Three years of Irish services growth slows to a trickle-PMI

Three years of Irish services growth slows to a trickle-PMI

Tue, Feb 06, 2024

The pace of expansion last month was the slowest since the post-pandemic bounceback began, driven by firms completing outstanding business and therefore seeing their volume of work-in-hand fall for the first time in three years.

Everyone wants to do an FTA with India: GTRI report

Everyone wants to do an FTA with India: GTRI report

Tue, Jan 02, 2024

Countries ranging from large economies like Europe, and the UK to smaller ones, including Oman and Peru, want to have a free trade agreement with India due to the country's large and rapidly growing market, a report by economic think tank GTRI said.

New Zealand government starts to repair economy

New Zealand government starts to repair economy

Wed, Dec 20, 2023

The New Zealand government is starting a massive economic repair job to fix the country's "fragile economy", Finance Minister Nicola Willis said on Wednesday.

Bank of Japan keeps ultra-loose policy, focus shifts to exit timing

Bank of Japan keeps ultra-loose policy, focus shifts to exit timing

Tue, Dec 19, 2023

Bank of Japan news: The Bank of Japan maintained ultra-loose monetary settings on Tuesday in a widely expected move, underscoring policymakers' preference to await more clues on whether wages will rise enough to keep inflation durably around its 2 per cent target.

Ukraine gets $37.4 billion aid from January-November

Ukraine gets $37.4 billion aid from January-November

Wed, Dec 06, 2023

Ukraine received $37.4 billion financial aid from January-November this year, sources in the government said.

Argentina retail prices seen slipping under double digits in October

Argentina retail prices seen slipping under double digits in October

Sat, Nov 11, 2023

The slowdown comes off the back of October's general elections, analysts said, with Economy Minister Sergio Massa posting a surprisingly strong first-place finish despite the country's deepening economic crisis and radical libertarian Javier Milei trailing close behind.

Reserve Bank of Australia lifts cash rate to 4.35%

Reserve Bank of Australia lifts cash rate to 4.35%

Tue, Nov 07, 2023

The Reserve Bank of Australia (RBA) on Tuesday decided to raise the cash rate target by 25 basis points to 4.35 per cent, after keeping the rate on hold for four consecutive months.

US Treasury seen boosting auction sizes as budget deficit worsens

US Treasury seen boosting auction sizes as budget deficit worsens

Mon, Oct 30, 2023

Investors are playing close attention to this week's quarterly refunding announcement as a sharp jump in long-term Treasury yields has been partly attributed to concerns about the US fiscal deficit.

Strong economy may need more restraint, but bond markets are helping: Jerome Powell

Strong economy may need more restraint, but bond markets are helping: Jerome Powell

Fri, Oct 20, 2023

Powell in remarks to the Economic Club of New York agreed "in principle" that the rise in yields was helping to further tighten financial conditions and "at the margin" might lessen the need for additional Fed rate increases.

Japan household spending falls 2.5% in August

Japan household spending falls 2.5% in August

Fri, Oct 06, 2023

Households of two or more people spent an average of 293,161 yen ($1,975), dropping for the sixth consecutive month but easing from the 5 per cent fall in July, according to the Ministry of Internal Affairs and Communications.

US emergency oil reserve at 40-year low

US emergency oil reserve at 40-year low

Thu, Sep 28, 2023

The US's emergency oil stockpile has plunged to a 40-year low as the shrinking Strategic Petroleum Reserve is limiting Washington's ability to shield consumers from the fallout of Saudi Arabia's aggressive supply cuts, according to Goldman Sachs.

Euro zone economy likely contracted this quarter

Euro zone economy likely contracted this quarter

Fri, Sep 22, 2023

The euro zone economy is likely contract this quarter and won't return to growth anytime soon, a survey showed, as the dampening effect of central banks' long campaign of interest rates rises becomes clearer.

Britain's economy shrinks more than expected in July

Britain's economy shrinks more than expected in July

Wed, Sep 13, 2023

Britain's economic output shrank by a larger-than-expected 0.5 per cent in July after growth of 0.5 per cent in June, the Office for National Statistics (ONS) said on Wednesday.

China's deflation pressures ease, more steps expected to spur demand

China's deflation pressures ease, more steps expected to spur demand

Sat, Sep 09, 2023

China's consumer prices returned to positive territory in August while factory-gate price declines slowed, data showed, as deflation pressures ease amid signs of stabilisation in the economy.

G20 Summit: US, India, Saudi Arabia, UAE, EU set to unveil railway, ports connectivity deal

G20 Summit: US, India, Saudi Arabia, UAE, EU set to unveil railway, ports connectivity deal

Sat, Sep 09, 2023

G20 Summit 2023: US, India, Saudi Arabia, the United Arab Emirates, the European Union, and other G20 partners are set to explore the shipping and rail transportation corridor, which is aimed at aiding in the flow of commerce, energy and data from India across the Middle East up to Europe.

China's economic gloom hangs over Japan's long-awaited recovery

China's economic gloom hangs over Japan's long-awaited recovery

Thu, Sep 07, 2023

In a sign of growing pessimism over China, the government also said its monthly economic report for August that "concern over China's outlook" was among risks to Japan's recovery.

China's factory activity likely extended declines in August - Poll

China's factory activity likely extended declines in August - Poll

Tue, Aug 29, 2023

China's factory activity likely contracted for a fifth straight month in August, a Reuters poll showed on Tuesday, as weak demand threatens recovery prospects in the world's second-largest economy and pressures officials to prop up growth.

Global carbon credits market expected to touch USD 250 billion-mark by 2030, says expert

Global carbon credits market expected to touch USD 250 billion-mark by 2030, says expert

Wed, Aug 23, 2023

The market for carbon credits took a hit due to multiple reasons, including Russia-Ukraine war, interest rate hikes, and reduced demand leading to falling prices up to 80 per cent, Manish Dabkara, CMD of EKI Energy Services, said.

China's government tries to defuse economic fears after real estate developer's debt struggle

China's government tries to defuse economic fears after real estate developer's debt struggle

Thu, Aug 17, 2023

China's government is trying to reassure jittery homebuyers after a major real estate developer missed a payment on its multibillion-dollar debt, reviving fears about the industry's shaky finances and their impact on the struggling Chinese economy.

US job growth remains moderate in July; wage gains still strong

US job growth remains moderate in July; wage gains still strong

Fri, Aug 04, 2023

The US economy maintained a moderate pace of job growth in July, but solid wage gains and a decline in the unemployment rate pointed to continued tightness in labor market conditions.

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