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...

The car market's return to pre-pandemic levels is one of the primary factors cited as a good trend in the industry. Major Japanese industrial enterprises' attitude increased for the first time in seven quarters, shows the Bank of Japan (BoJ)'s Tankan index, which is used to assess inflation. This index, which measures the discrepancy between the shares of businesses that offered favorable and...

According to U.S. Forbes, 21 billionaires sold shares of companies worth $ 9.3 billion in the first half of this year. U.S. Forbes calculated that 21 billionaires among the world's wealthiest people sold shares valued at $ 9.3 billion in the first half of this year. Each businessman sold shares for at least $100 million, according to the magazine. Co-founder of the short-term rental company...