Category: Economy

Europe’s economy barely escaped a recession in 2023, new data showed on Tuesday. A recession means the economy is shrinking for two quarters in a row. But Europe’s economy did not grow or shrink in the last quarter of 2023. It was the same as the quarter before, when it shrank by 0.1%. The data…

Houthi rebels from Yemen have been disrupting the Red Sea trade route for two months with various attacks on civilian vessels. This has made many shippers take the longer and more expensive route around Africa, affecting 12% of the world’s trade. The global economy is suffering as a result. The US and its allies have…

Egypt’s economic growth is expected to slow down compared to what was predicted in the past. Reuters recently did a poll that shows that the falling value of the Egyptian pound, rising prices that make things less affordable, and the effects of the Gaza problem are all things that make the situation worse. At the…

US West Texas Intermediate crude (WTI) concluded at $75.09, up 1.0% with a 72-cent increase, while Brent crude futures rose 0.6%, gaining 49 cents to settle at $80.04 per barrel. Both prices were more significant than the prior closing price. Beginning February 5, the People’s Bank of China (PBOC) announced that the minimum reserve amount…

The economy of Latin America is expected to grow at a slower rate this year compared to the previous year, as stated by Fitch Ratings, a renowned ratings firm. Insufficient demand, high interest rates, and strong linkages to China and the United States, both of which are experiencing a slowdown, are the primary reasons for…