Rystad Energy forecasts that China's solar power plants (SPPs) would have an installed capacity of more than 500 GW by the end of 2023 and 1 TW by the end of 2026. In 2023, new capacity is anticipated to surpass 150 GW, up from the 87 GW installed in 2022. The estimate is 165 GW in 2024 and 170 GW in 2025. The overall solar energy capacity in China will so surpass 700 GW by 2024 and increase to...

Due to central banks actively buying precious metals, investments in gold attained their highest proportion in the total volume of investments made by market participants in 11 years, reads a report by JPMorgan Chase analysts. According to MarketWatch, analysts arrived at this statistic by dividing the price of gold coins and bars, as well as investments in exchange-traded funds that trade on the...

Following a modest increase in July, global food prices dropped in August, according to the UN Food and Agriculture Organization (FAO). Last month, the FFPI food price index dropped to 121.4 points. The index was down 2.1% as compared to July. In August 2023, the FAO Food Price Index averaged 121.4 points, down 2.1% from July and up to 24% from the highs recorded in March 2022. The index's rise...

According to an estimate by researchers in a Focus Economics regional analysis, the average economic growth rate for Latin American countries will be just 1.6% this year, which is half the pace expected in 2022. The economy of Latin America will grow at the slowest rates among all other developing nations. Focus Economics poll show that ineffective institutions, political unpredictability,...

According to the Beige Book, a summary of the Federal Reserve's (Fed) remarks on the nation's economic situation, the economic activity in the US increased moderately in July and August compared to the prior report, which covered the time period from May through July. The report states that "according to contacts from most districts, economic growth was moderate in July and August." The survey...

Before that, the voluntary cut was first planned for July and then expanded to include August and September. Saudi Arabia has chosen to continue the voluntary cut until the end of 2023 by voluntarily cutting its oil output by 1 million barrels per day (bpd), reports The Saudi Press Agency quoting an authorized source inside the Kingdom's Ministry of Energy. Prior to that, the voluntary decrease...

Greta Gerwig’s "Barbie" has become the year's highest-grossing movie, bringing in $1.36 billion worldwide. According to Collider, Greta Gerwig's "Barbie" became the year's highest-grossing movie after bringing in $1.36 billion worldwide. Previously, the animated movie "The Super Mario Bros. Movie" held the top spot thanks to its $1.358 billion worldwide box office haul. The movie also broke...

The US Department of Energy claims that these actions are specifically intended to increase the production of batteries, battery raw materials, and "components currently imported from other countries." The administration of US President Joe Biden will allot $15.5 billion to retool plants in order to expand the nation's production of electric cars, reads a statement issued by the US Department of...

The Economic Sentiment Indicator (ESI) in the euro area dropped below forecasts in August, reaching its lowest level since November 2020 (93.3 points as opposed to a projection of 93.7 and a value of 94.5 in July). The ESI for EU nations decreased from 93.5 to 92.9 points from one month earlier. The indictor includes data from surveys of businesses in the industrial, services, retail,...