According to the European Central Bank's (ECB) website, the latest forecast predicts for annual inflation of 6.8% in 2022. The ECB stated that price growth will continue to be high for some time, describing the situation as a "severe challenge" and promising to ensure that it returns to its target of 2% in the medium run. According to preliminary estimates, price growth in the euro area reached...

According to Eurostat, the GDP of 19 euro-area nations expanded by 5.4 percent year on year and 0.6 percent in quarterly terms in the first quarter of 2022, according to the third, final estimate. Analysts surveyed by DailyFx predicted statistics to remain unchanged from the prior forecast: yearly growth of 5.1 percent and quarterly increase of 0.3 percent. According to the third estimate, the...

The country's central bank, the Reserve Bank of India, upped its benchmark interest rate for the second time in a row, raising the rate by 50 basis points to 4.9 percent, according to its chairman Shaktikanta Das. In a statement, Das said: "The Monetary Policy Committee unanimously voted to hike the repo rate by 50 basis points to 4.90 percent." The decision to raise the rate was made "due to...

According to Ted Pick, co-president of investment firm Morgan Stanley, the global stock market is undergoing dramatic developments that could be a "paradigm shift." The current position of the stock markets in a number of nations, according to the bank's top manager, is considerably different from the typical situation seen over the previous 15 years, which has been defined by low interest rates...

Venezuela can compensate for the loss of Russian oil supplies to the European market by supplying oil to Italian Eni and Spanish Repsol, according to Reuters, citing five sources. Local corporations have been allowed to do so by the US State Department, who sent them a letter to that effect. It's possible that deliveries will begin as soon as next month. According to Reuters' sources, the...

Venture capital funds have significantly cut their investment in China's technology sector since the beginning of the year, says research firm Preqin, as reported by Nikkei and Bloomberg. For the first four months of the year, the total volume of transactions in China involving venture capital funds plummeted by 44% to $24.7 billion. For the first four months of this year, venture capital funds...

According to the Financial Times, Saudi Arabia has communicated to Western countries that it is prepared to increase oil production if Russia reduces output as a result of EU sanctions. Five sources told the Financial Times that Saudi Arabia has conveyed to Western partners that it is willing to increase oil production if Russia decreases it significantly due to sanctions. Riyadh has...

According to a statement from Iraq's Oil Ministry, the country set a new monthly record for oil export profits in May, earning $11.4 billion. Data of Iraq's official oil marketing office shows that total crude oil exports were 102,303,020 barrels, with profits of $11.436 billion (SOMO). During the reporting period, the average daily volume of oil exports was 3.3 million barrels at an average...

OPEC+ is expected to agree an increase in oil output of 430,000 barrels per day in July. Bloomberg reported this, citing members of delegations attending the upcoming OPEC+ summit. Officials say global oil supply and demand are stable, and there have been no severe interruptions in supplies so far, so the oil alliance doesn't need to take any immediate action. The next OPEC+ meeting is scheduled...