The Australian government declared on Tuesday that it intends to run a national budget surplus for the first time in 15 years because a robust labor market and robust extractive industry revenues have generated a sufficient amount of tax money. The government's intentions, however, will swiftly deplete the funds allocated for military, health care, and other priorities. The Reserve Bank of...

The rapid increase in pasta prices has prompted Adolfo Urso, Minister of Enterprises and of the Made in Italy, to order convention of a special commission for the first time. In March, the prices increased 17.5% compared to the previous year. The commission meeting is scheduled for May 11. The National Union of Italian Consumers (Unc) reports that from June 2021, the country's costs for pasta...

Goldman Sachs expert told Bloomberg that the price of natural gas in Europe could go to over €100 per MWh before the upcoming winter. Before the upcoming winter, the possibility of a rise in the exchange rate for natural gas in Europe above €100 per MWh is "very realistic," Goldman Sachs analyst Samantha Dart told Bloomberg on the sidelines of the Flame gas conference in Amsterdam. According to...

The IMF reports that GDP growth in the Asia-Pacific region (APR) is expected to increase to 4.6 percent in 2023 from 3.8 percent in 2022, while the area is expected to contribute the most to global economic growth in that year. According to the fund, China will account for 34.9% and India for 15.4% of the increase in the world economy this year. The primary driver of the growth will reportedly be...

The rate of inflation in the euro area for the entire year accelerated in April, rising to 7% from 6.9%, according to statistics from Eurostat. The index matched forecasts of analysts polled by DailyFX. The euro zone's inflation rate was 7.4% a year ago. Preliminary figures show that consumer prices increased by 0.7% in the euro area in April. The core annual inflation rate also decreased...

According to Wion TV, which cited a government source, the Indian government intends to stop sugar exports due to dwindling sugar production and to stop inflationary pressures before next year's legislative elections. There is currently enough sugar to satisfy the estimated 27.5 million tons of domestic consumer demand, but the government does not want to take any chances before this year's state...

The World Bank said that it has begun work on a new project called Business Ready that would replace the previous Doing Business rating that evaluates the business and investment climate. "The World Bank Group has begun work on an assessment of the business and investment climate to 180 economies within the flagship project Business Ready," the agency announced. It is noted that the new project...

Hollywood film studios are on the cusp of the largest writers' strike in the last 15 years as a contract between writers and studios expires, writes Bloomberg. "The first significant strike in 15 years is about to occur in Hollywood. The agreement between the Writers Guild of America and Hollywood studios ends on May 1st, according to the newspaper. The two parties have been in and out of...

The World Bank estimates that commodities prices may decline by 21% this year after growing by 45% last year, mostly because of weaker demand caused by a recession in the global economy. Energy commodity prices have already undergone this correction; in the first quarter, prices lost 20%, with oil prices falling by 8%. The US GDP statistics for the first quarter also showed a slowdown in the...