Kuwait, one of the prime members in the OPEC group has noted that it has no choice but to keep its market share and shun oil output costs. The statement made by Kuwait's oil minister backs the view from the Emirate that the OPEC will maintain the status quo as far as production is concerned until the OPEC committee meets in next June. The OPEC countries, including Saudi Arabia have announced...

Europe’s largest low-cost carrier floats the idea of expansion in highly profitable transatlantic market. Europe’s largest budget airline, Ryanair announced its plan to introduce cheap transatlantic flights by the year 2020. It is considered to be a logical development in the markets of Europe, thereby benefiting the European consumer’s travel to the US and even the Americans travelling to...

General Motors turns off the production of all cars in Russia, radically reduces the range and reserves in the Russian market only premium model Chevrolet and the entire Cadillac line. Opel brand leaves Russia as well. Today, US General Motors has announced the restructuring of its business in Russia. The company will stop producing and importing all models of the middle class, making a bet on...

Tokyo and Shanghai stocks rallied on the back of Dollar weakness. Tokyo and Shanghai hit new record highs on 17 March 2015, driven by weak US economic data. It is a clear indication that Federal Reserve will not be able to take the most awaited decision to hike the interest rates. The Wall Street rallied more than 1% as investors steered by a pause in strengthening of US dollar. The Bank of Japan...

Promising Tourism Prospects in Greece Amidst Economic and Political tensions Despite fading political relations between Athens and rest of Eurozone, the beautiful Greece is appealing foreign tourists. In addition, slumping Euro currency is likely to play a vital role in making it the best destination for vacations in 2015. According to Greek National Tourism Organization, the year 2015 will be...

The economic recovery in developed countries continue to slow down on the background of the recession in Russia and Brazil. International rating agency Fitch downgraded the outlook for global GDP growth in 2015 by 0.2 percentage points (pp) - up to 2.7% with an expected 2.9% in December. The forecast recovery of the global economy in 2016 is left at 3%, according to agency ‘Global Economic...

With a shrinking defense market is Sikorsky a drag on United Technologies? Or is it more in the nature of a long term investment? Way back in December 2013, in an interview with Louis Chênevert, fomer chairman of United Technologies, the question of divesting Sikorsky from the company had come up. Sikorsky is a well-known division of United Technologies that manufactures helicopters.  The...

US-based online scrapbooking company Pinterest has raised around $367 million in a new round of financing from new and existing investors. This new move from the company has led to it being valued at $11 billion and joining an elite club of start-ups to reach valuation upwards of $10 billion. The company is currently close to the valuation of other social media and cloud start-ups including...

The biggest question arises that why there is an apparent slowdown in the US consumer spending? US economy is certainly the largest economy across the globe. As the energy is closely linked to not only the economic growth but also plays a crucial role in steering the major economic indicators. Hence the contribution of energy towards economy cannot be overlooked. The year 2015 is believed to be...