Spokesperson for the European Commission Adalbert Jahnz said that the EU possesses sizable stockpiles. After the coup in Niger, the EU does not anticipate any issues with uranium supply because it has ample reserves and there are now enough offers on the global market, said Adalbert Jahnz, a representative of the European Commission, during a briefing in Brussels. "In the near and medium terms,...

The International Energy Agency (IEA) forecasts that the world's coal demand will be roughly stable at 8.388 billion tonnes by the end of this year. "Total global coal demand in 2023 is expected to be unchanged at around 8.388 billion tonnes (+0.4%)," the agency stated in a report. "Weather conditions and the state of the economies of major coal consuming countries will determine whether coal...

The US Federal Reserve has resumed hiking the rate. The range is now 5.25–5.5%, which is the highest level in 22 years. According to a statement on the Fed's website, the US Federal Reserve (Fed) increased its benchmark interest rate by 25 basis points to a range of 5.25-5.5 percent. The base rate is the interest rate at which US commercial banks lend money to one another for brief periods of...

The General Statistics Office data shows that Saudi Arabia's income from oil exports decreased 37.7% in May. The figure was $19.2 billion in May of this year, the lowest since September 2021, and $30.8 billion in May of 2022. The kingdom's proportion in foreign commerce from oil sales has significantly decreased, and currently stands at 74%, down from 81% the year before. Last year, when Russia...

The euro zone's business activity is still declining, and it is doing so more quickly than experts predicted. S&P Global's early estimates indicate that after reaching a high of 49.9 points in June, the composite PMI (leading indicator of GDP dynamics) fell to 48.9 points in July, the lowest level in eight months. Analysts anticipated a drop to 49.7 points that would be less abrupt. The...

Friendly nations like the United States, the Republic of Korea, and Taiwan will not be affected. Japanese authorities will impose stricter controls on the export of high-tech machinery and components used in the manufacture of semiconductors and microchips, reported the country's Ministry of Economy, Trade, and Industry. There are 23 articles on the list of prohibited goods, such as UV...

According to Binance Research's Cryptocurrency Market Report for the first half of 2023, the ten largest cryptocurrency-focused funds generated $3.61 billion in financing. "Overall Bitcoin deal activity decreased in the first half of 2023, which was also accompanied by a decrease in venture capital funding. However, notable VCs and bitcoin fans voiced hope. They emphasized continuous research and...

Authorities in India, which exports 40% of the world's rice, have banned exports of all but Basmati variety of the crop, the Ministry of Consumer Affairs and Food Distribution stated. 25% of India's rice exports are made up of kinds that are now banned, according to the ministry. "The Government of India has amended the export policy norms for the said varieties by changing their category from...

The plant will make batteries for the new line of electric vehicles from Jaguar and Land Rover, according to Tata Sons CEO Natarajan Chandrasekaran. The UK will soon be home to a factory that will make batteries for electric vehicles, Indian industrial powerhouse Tata Group announced. "Tata Group is constructing one of Europe’s biggest battery manufacturing sites in the UK," The Economic Times...