Persistent pressures on the supply chain and rising energy costs are slowing the eurozone’s growth and will keep inflation afloat for even longer, said President Kristen Lagarde. The ECB has been talking about a sharp drop in inflation next year, but policymakers now openly admit that their forecasts, which have already been revised several times, […]
Tag: International financial news
Eurozone: Trade surplus shrank, imports increased
The eurozone’s trade surplus fell more than expected in September as import growth continued to outpace exports, according to data from the European Union’s statistics office. The eurozone trade surplus of goods stood at 7.3 billion euros in September, down sharply from the 24.1 billion euros recorded in the corresponding month last year. Estimates spoke […]
Coronavirus: After 20 months India opens up to tourists
India opened today for foreign tourists from countries with which it has reciprocal arrangements, after 20 months of being closed due to the Covid-19 pandemic. Travel agents, however, said demand is very limited due to expensive tickets and restrictions that still apply to travelers from Britain, China and other countries. The country, famous for its […]
UN releases $ 40 million in emergency aid for Ethiopia
The United Nations today released $ 40 million in emergency aid to deal with the humanitarian crisis in Ethiopia, UN Under-Secretary-General for Humanitarian Affairs Martin Griffiths said in a statement. “These resources” will help strengthen emergency relief operations in war-torn areas of northern Ethiopia and support the first drought-related operations in Ethiopia, “the statement said. […]
US-China dispute: Who is causing the inflationary pressures?
By Costas Raptis In an interview with CBS’s Face the Nation, US Treasury Secretary Janet Glenn attributed the inflationary pressures that have already begun to upset American households to the imbalances created by the pandemic, with a sharp drop in demand for services and simultaneous increase in demand for goods. As she said, the end […]
Norway is the big beneficiary of rising gas prices
Norway’s trade surplus hit a record high in October as offshore oil revenues rose amid a spike in gas prices, the SSB statistics office said. The October surplus stood at 84.5 billion kronor ($ 9.73 billion), up 60.7% from September, a record high for the previous month. With a daily output of about 4 million […]
Egypt: Unvaccinated civil servants barred from entering their workplace without a negative PCR test
As of today, all unvaccinated civil servants are prohibited from entering the workplace in Egypt, with the exception of those who will test negative PCR every week. The government’s decision, issued in October, aims to encourage people to get vaccinated, given that there are now enough vaccines, especially in the last two months. A similar […]
CEO BP: Oil and gas will be in the global energy system ‘for decades’
“Oil giant BP is committed to tackling the climate crisis,” said Bernard Looney, the company’s chief executive, but oil and gas will remain in the energy sector for years. “It may not be popular to say that oil and gas will remain in the energy system for decades to come, but that is the reality,” […]
Thailand: The economy shrank in the third quarter
The Thai economy shrank in the third quarter from a year earlier, as consumption fell sharply due to pandemic mitigation measures in response to the recent domestic rise in cases. GDP decreased by 0.3% compared to the previous year, compared to the increase of 7.6% in the previous quarter and 6.4% in the third quarter […]
Kashkari (Fed): The Federal Reserve should not overreact to inflation
The chairman of the Federal Reserve Bank of Minneapolis, Neel Kashkari, stressed that the US Federal Reserve should not overreact to rising inflation, although the latter is causing pain to Americans, as it will probably prove to be temporary. “The high prices paid by families are real and people are in financial pain right now,” […]
