According to the conclusions of the G20 conference of finance ministers and central bank governors, global economic growth is below its long-term average and continues to be unequal. "Global economic growth is still uneven and below its long-term average. The outlook remains highly ambiguous," reads the statement. "The balance of risks remains weighted to the downside with a considerable...

Reuters learned that senior Biden administration officials have spoken with executives from important U.S. chip companies, including Intel, Qualcomm, and Nvidia. Leading US chip giants Intel, Qualcomm, and Nvidia met with senior officials from the administration of US President Joe Biden on July 17, according to Reuters, which cited sources familiar with the conversations and a State Department...

Inflation, according to the Bundesbank, slowed down from 8.7% at the start of the year to 6.4% at the end of the reporting period. After a six-month recession, the German economy began to partially recover in the second quarter of 2023, Bundesbank stated in its monthly report, which was released on Monday. German output, according to bank experts, "increased slightly again" in the second...

Oil and gas businesses are searching for more efficient and affordable ways to boost production, according to the Norwegian consulting firm. Oil and gas businesses from around the world may have to spend up to $58 billion more in 2023 to continue developing their current reserves, forecasts the Norwegian consulting firm Rystad Energy. The company's specialists point out that further development...

According to Patrick Pouyanne, gas would have to be imported at a higher cost. Europe may experience a gas scarcity over the upcoming winter, said Patrick Pouyanne, CEO of TotalEnergies in France quoted by CNews TV channel. "As for gas, storage facilities will be full in October, but if the winter in Europe is cold, these stocks on the continent will not be enough to meet demand throughout the...

Energy corporations should make investments in both current power networks and energy transit, according to BP CEO Bernard Looney. Oil and gas will continue to play a key role in the global energy system for many years to come in spite of the need for investment, according to BP CEO Bernard Looney. "Oil and gas will continue to play a major role in the energy system for many years to come....

The Financial Services Commission stated that the choice was made to foster more competition in the sector. South Korea has chosen to open up its banking market to new players for the first time in 30 years in order to boost industry competitiveness, the Financial Services Commission (FSC) announced. "By allowing additional competitors to enter the industry, we will encourage competition....

Data from purchasing managers' indices (PMIs), one of the most important worldwide industry indicators, suggest to a further deterioration of global industrial demand. According to data from J. P. Morgan and S&P Global, only ten of the 29 nations included in the calculation of the average showed a rise in industrial activity in June, bringing the global manufacturing PMI to a six-month low of...

Within the framework of OPEC+, Saudi Arabia will extend its voluntary cut of 1 million barrels per day (bpd) from oil output for the month of August. The news were reported by the Saudi Press Agency, who cited an unidentified official source in the Kingdom's Energy Ministry. The agency reported that Saudi Arabia will continue to produce 9 million barrels per day of oil. The source stated: "This...