Economy

EU's trade deficit at $4.5b in 1st half

The EU has posted a foreign trade deficit of €4.2 billion ($4.5 billion) during the first half of 2023, easing from €201.3 billion in the same period last year. Eurostat's data showed on Thursday that the EU's exports totaled €1.286 trillion in the Jan-June period, while imports amounted to €1.29 trillion. In the first half ...

11:22 Et August 17, 2023

Industrial production down in EU, Eurozone in June

Industrial production fell 1.2% on a yearly basis both in the euro area and the EU, the bloc's statistics office revealed on Wednesday. On a monthly basis, production ...

12:19 Et August 16, 2023

Russian central bank jacks up rates to 12% to support battered rouble

Russia's central bank hiked its key interest rate by 350 basis points to 12% on Tuesday, an emergency move to try and halt the rouble's recent slide after ...

12:10 Et August 15, 2023

Italy joining China's Belt and Road Initiative was atrocious move, defence minister says

Italy made an "improvised and atrocious" decision in joining China's Belt and Road (BRI) initiative, defence minister Guido Crosetto has said. Mr Crosetto claimed the initiative had done ...

15:40 Et July 31, 2023

German economy stagnates in 2nd quarter

The German economy exited from a recession in the second quarter of this year, posting no growth as household spending stabilized, according to preliminary data from the state ...

10:25 Et July 28, 2023

China rolls over $2.4b loan to Pakistan

China rolled over a $2.4 billion loan to Pakistan maturing in the next two fiscal years, the South Asian nation's finance minister said on Thursday. "Chinese EXIM Bank ...

10:54 Et July 27, 2023

Zara founder Ortega's real estate fortune hit $20 bln in 2022

The investment firm of Spanish billionaire Amancio Ortega, the founder of fashion giant Inditex, on Thursday reported a 2.8 billion-euro jump in the market value of its real ...

10:50 Et July 27, 2023

India's Tata chooses UK for $5 billion Jaguar Land Rover gigafactory

India's Tata Group will build an electric vehicle battery plant in Britain to supply its Jaguar Land Rover factories, delivering a major boost for a car industry in ...

11:52 Et July 19, 2023

China’s economy misses growth forecasts, raising the odds of more support for its tepid recovery

China’s economic growth missed forecasts in the second quarter of the year, adding to worries over surging youth unemployment and a weak property sector and raising the likelihood the government will double down on support for the faltering post COVID-19 recovery. The world’s second largest economy grew at a 6.3% annual pace in the April-June ...

12:41 Et July 17, 2023

Moroccan delegation visits London to bolster economic partnership with UK

The General Confederation of Moroccan Enterprises (CGEM) conducted a mission to London on July 11-13, with the aim of further strengthening trade and investment relations between Morocco and ...

11:03 Et July 15, 2023
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