The German Economic Institute (IW) recently unveiled a concerning trend as confidence among German companies experienced a further decline this summer. According to IW, over a third of the 2,000 German companies surveyed in June responded, painting a bleak outlook for business activity this year with no signs of an economic recovery. “The war in …
34% of German Firms Anticipate Capacity Cuts in 2023 Read More »
The Office for National Statistics (ONS) has revealed that the British economy experienced a smaller contraction than anticipated in May, signaling a positive outcome amidst protests and special holidays commemorating King Charles III’s coronation. This development suggests that Britain is on track to avoid a second consecutive quarter of economic contraction. According to the ONS, …
British Economy Contracts Less Than Expected in May Despite Protests Read More »
South Korea’s Ministry of Trade, Industry, and Energy has revealed that the country’s exports of information and communications technology (ICT) products witnessed a continued decline for the 12th consecutive month in June. This decline can be attributed to persistently sluggish demand for technology products in the global market. In June, South Korea’s exports of ICT …
China witnessed a substantial surge in its crude oil imports, with a remarkable year-on-year increase of 45.3% in June, according to the Customs Administration of China (GAC). This significant rise can be attributed to the refinery group’s decision to boost their crude oil stockpile. Despite a sluggish domestic demand, the GAC reported that China’s total …
China’s June Crude Oil Imports Surge by 45.3% as Refineries Stockpile Read More »
China’s Customs Administration (GAC) recently released data revealing a significant 12.4 percent year-on-year drop in exports for the month of June. This decline surpasses May’s 7.5 percent contraction and has caught analysts off guard, as they had anticipated a milder 9.5 percent decrease. Chinese exports have been adversely affected by a slowdown in global demand, …
China’s Exports Experience Steep 12.4% Decline in June Amid Sluggish Global Demand Read More »
India is currently facing a severe crisis as the prices of tomatoes skyrocketed by more than 300% this year, primarily due to adverse weather conditions. The Consumer Affairs Ministry of India reported that tomato prices in the country have surged by a staggering 341% this year, soaring from 24.68 rupees per kilogram to 108.92 rupees …
India Grapples with Tomato Crisis as Prices Surge Over 300% Amidst Bad Weather Read More »
In a bid to address a loophole in the country’s trade policy, India has taken measures to restrict the import of gold jewelry. As the world’s second-largest consumer of gold, this move aims to fill gaps in India’s trade regulations and prevent potential misuse of import provisions. The Indian government has categorized imports of gold …
India Implements Import Restrictions on Gold Ornaments to Address Trade Policy Gap Read More »
In a recent report, the United Nations (UN) has highlighted the alarming surge in global public debt, which is projected to reach a staggering $92 trillion by 2022. Governments across the world have resorted to borrowing substantial amounts of money to address various crises. Unfortunately, developing nations are bearing the brunt of this mounting debt …
Today presents a range of important news updates across various sectors. Here are the highlights worth watching: These news developments hold significance across global markets and sectors, providing insights into economic trends, technology advancements, and geopolitical relations.
The Bank of Korea (BOK) has announced its decision to keep the policy rate unchanged at 3.5% during its meeting held today (July 13). This marks the fourth consecutive rate freeze and aligns with market expectations. The decision comes as the South Korean economy faces a slowdown and inflation remains at a moderate level. According …
Bank of Korea Maintains Interest Rate at 3.5% Amid Slowing Inflation and Weak Economy Read More »